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NFT Hype Running Out of Steam As Prices Crash: Report – The Daily Hodl

The average price of non-fungible tokens (NFTs) has fallen from its all-time high, weeks after the digital collectibles craze took a euphoric turn.

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The average price of non-fungible tokens (NFTs) has fallen from its all-time high, weeks after the digital collectibles craze took a euphoric turn.
Bloomberg reports that the average price of NFTs has plunged by 67% from a record high of $4,300 in February 2021 to about $1,400.
Source: Bloomberg
NFTs are digital tokens that have unique cryptographic properties which enable the blockchain to verify the originality and ownership of digital assets including artworks, parcels of virtual lands, and collectibles.

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