NFT Sales Plunge Amid Crypto Market Meltdown, Rising Inflation and Withered Risk Appetite

Non Fungible Tokens, or NFTs, have seen a plunge in sales this year, at a time when central banks have increased rates to combat inflation and risk appetite has reduced. The NFT market has collapsed along with cryptocurrencies that are typically used to pay for these assets. Bitcoin and Ethereum dropped around 57 percent and 71 percent in the six months of the year, r…