By Bofan Ji From tokenizing art to generating in-game assets, NFTs were once at the forefront of onboarding users to the web3 economy. In 2021, NFTs ballooned to a $41 billion industry with more than 3.3 million newly created wallet addresses trading over $17 billion in volume. However, the market has taken a major hit since then. According to NonFungible, the average sale price of an NFT has dropped by almost 70% since January 2022. In the same period, primary sales have declined by almost 9...

By Bofan Ji From tokenizing art to generating in-game assets, NFTs were once at the forefront of onboarding users to the web3 economy. In 2021, NFTs ballooned to a $41 billion industry with more than 3.3 million newly created wallet addresses trading over $17 billion in volume. However, the market has taken a major hit since then. According to NonFungible, the average sale price of an NFT has dropped by almost 70% since January 2022. In the same period, primary sales have declined by almost 9...