- The boom in non-fungible tokens (NFTs), or digital collectibles in the form of computerized art and sports highlights, is quickly turning into a bust.
- According to market trackers, the average NFT price has declined by 70% to $1,400 since peaking in February.
- Many perceived last month’s $69.3M sale of digital artwork as a sign of investor excess.
- However, NFT prices remain positive for the year, with investors exploring its portfolio diversification potential.
- Ultimately, time will tell if NFTs are a viable asset class.
