Hello everyone, you know that looking at the crypto market charts I realize that this week is going to be much better than last week because unlike the huge massacre that hub, this week prices are starting to rise. BTC, ETH, BNB, and ADA are trending upwards at CMC, and apart from that, I am proud that I did not panic and sold absolutely nothing, neither from my portfolio nor from my Hive wallet, I made good investments for a very low price, and I look forward to seeing the results of this patience.
But unlike cryptocurrencies, the NfT market is still suffering. Since looking at the sales charts for the last 7 days it was impressive to see how the sales of the main NFT markets have fallen.
For example CryptoPunks, in the last 7 days, only 80 pieces have been sold on their site, this is surprising compared to the thousands of pieces sold per week previously, achieving historical records, but behind the NBA NFTs.
But if we look at the sports NFT market, we will see that some have even dropped to 0 sales in the last 7 days. The only ones that have stayed afloat are Sorare a soccer collectibles NFT marketplace and F1 delta time a formula 1 NFT site.
Also the art NFT market has suffered a drop in sales, and sites like SuperRare or Hashmasks have not been able to exceed 120 sales in the last 7 days.
But as bad as it seems pes is not yet the end of this technology or new way of making art in the digital age. Consider this drop in sales as a small bump in the road, as with all new technology there is always a moment of failure followed by a massive rebound.
We have seen it with cryptocurrencies on different occasions, and even now we are seeing it because despite the low prices and losses there are still people or companies willing to buy crypto.
2 months ago we saw how NFT sales revolutionized everything, and even how such absurd things were sold by millions. That was the moment of euphoria and where many people took advantage of the first wave of success of the NFT, but those people seeing falls like these simply move away and begin to say that this technology is risky.
But those who stay and still maintain the fragile market, little by little strengthen it until it becomes stable again and that is where we see how sales do not fall even if there is an imbalance in the markets.
So this bump does not mean the end of everything, it means the beginning of something big, something that will be built and that will prove once again that the digital and decentralized economy is far superior and much more profitable. It's like taskmaster constantly preaches about a new era of adaptation to blockchain-based technologies, and of course, we are seeing that.