Report: 98% of NFT series launched in 2024 have failed, with only 0.2% achieving profitability

Odaily Planet Daily News: The "2024 NFT Drops Status" report recently released by NFTevening and Storible shows that the NFT market is facing difficulties in 2024. The report surveyed over 29000 NFT series released throughout the year and compiled data from OpenSea and Dune Analytics. The report points out that in a market that is excessively saturated, an average of 3635 NFT series will be created each month in 2024. 98% of NFT drops have not been profitable and have not recorded any trading activity since September, and have been deemed as failures. In addition, 98% of NFT prices also dropped by at least 50% in the first three days after launch. In addition, 84% of NFT's historical highest prices in 2024 are equivalent to their mint prices, which means they have never gained any additional value. According to NFTevening's analysis, only 0.2% of all NFT series have brought profits to investors. Even in active trading or "active" NFTs, only 11.9% have been proven profitable. According to Dune Analytics data, the daily trading volume of OpenSea has decreased by 76.32% compared to earlier this year. In addition, the casting volume has also been affected, as 64% of NFTs have been cast less than 10 times. （CryptoPotato）