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NFT Mania Shows Signs of Cooling as Average Price, Sales Decline

March 3, 2022, 9:29 PM

While anecdotal evidence that the NFT market is beginning to cool abounds, there are no bigger red flags that what’s going on with sales and prices.

The average selling price of a nonfungible token has declined to under $2,000, compared with an all-time high of almost $6,900 on Jan. 2, according to industry data tracker NonFungible. The daily total sales average was about $26.2 million on March 3, the data show. The tally was $160.2 million on Jan. 31. Since Feb. 24, when Russia attacked Ukraine, the average selling price has dropped by about 30%.

Nonfungible tokens -- most often ...