NFTs
NFTs Need a Compelling Use Case as They Lag Behind Bitcoin (BTC): OpenSea
The end of the crypto winter was announced by the rise in token prices and the long-awaited approval of Bitcoin exchange-traded funds. But a key segment of the digital asset universe has been left behind, despite previously being one of the hottest corners of the industry.
Non-fungible tokens, which are blockchain-based and represent unique ownership of assets such as images or even physical objects, saw global sales plunge 63% to $8.7 billion last year, according to data tracker CryptoSlam. That’s even as volume more than tripled to $918 million between October and November. Meanwhile, industry leader Bitcoin is up nearly 160% in 2023.