NFT market dey face di worst year since 2020 as CryptoPunks price dey surge and innovation for blockchain ticketing
For 2024, NFT market don experience 19% decline for trading volumes and wahala 18% decrease for sales, na dey mark di toughest year since 2020, according to DappRadar report. Dem say di downturn don link to rising prices and increased volatility. Important to note, CryptoPunks NFTs wey dey see 13% increase for floor prices, na because of rumors wey dey talk say dem fit sell their intellectual property. Meanwhile, Indian Railways don introduce NFT-based train tickets for di MahaKumbh Mela pilgrimage for di Polygon blockchain, wahala show innovative way wey blockchain dey affect di travel sector.
Neutral
Di overall decline wey dey happen for NFT market for 2024 show say market dey under pressure from volatility and rising prices, wey fit get bearish effect. But, di resilience wey some specific NFT collections like CryptoPunks and innovative blockchain applications for other sectors show provide balanced market dynamics. Dis balance dey lead to neutral overall market impact as traders dey assess both di challenges and new opportunities.