As October 2024 unfolds, the once-booming NFT market seems to be settling into a new phase. After a meteoric rise in 2022, where projects like Bored Ape Yacht Club and CryptoPunks commanded millions of dollars, NFT sales have now plummeted to a mere $100 million globally. This decline highlights a significant shift from the frenzied trading days of early 2022, leaving many to wonder whether NFTs are just a fading fad or if the market is stabilizing into a new normal. NFTs: A Fading Fad? As October 2024 rolls around, the NFT frenzy has fizzled, with sales plummeting to a
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