The NFT market is facing another bumpy year with falling sales, revenue, and dwindling user count, highlighting a continuous decline since 2022.
Statistics reveal a substantial drop in active NFT wallets, reaching the lowest levels since early 2021, with a 78% decline in active traders in Q4 2023.
Data from NonFungible shows a significant decrease in active wallets trading with NFTs, dropping from 1.9 million in Q4 2021 to 197,000 in Q1 2024.
Since the peak in 2021, the NFT space has experienced a significant decrease in active users, losing 90% of its users, showcasing a worrisome trend.
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