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Can supply of nonfungibles outweigh demand? By Cointelegraph


The ongoing NFT boom: Can supply of nonfungibles outweigh demand?

In 2021, nonfungible tokens (or NFTs) have become a major player in the cryptocurrency market. The growing interest in these digital collectibles resulted in record-breaking trading volumes during the month of August, with individual NFT sales exceeding more than $1 million dollars on a regular basis.

It can be hard to decide which unique collectibles, with the many NFTs on the marketplace, are worth paying the steep prices. It’s also important to point out that although NFTs are going mainstream, they are directly tied to the cryptocurrency ecosystem and, therefore, are prone to market volatility.