Fractional NFT Markets Slide 76% in Value in 7 Months, Diced-up Doge NFT Still Leads the Pack
When non-fungible token (NFT) collectibles became popular, the fractionalized NFT market grew past the $200 million range seven months ago in December 2021. Since then, the fractionalized NFT market has lost more than 76% in value, dropping to an overall market capitalization of around $50 million.
Fractional NFT Market Value Slides From $212 Million to $50 Million
The fractionalized NFT market followed alongside the sizable growth the entire NFT industry saw last year. At its height in December 2021, the overall fractionalized NFT market valuation was approximately
$212.6 million, according to metrics recorded by dappradar.com.
Today, the value has evaporated by
76.41%, as the current fractionalized NFT market capitalization is roughly $50,401,068. Over seven months ago on Sunday, December 12, 2021, the largest fractionalized NFT project market valuation belonged to the Doge NFT (DOG) with a $130.14 million market cap.
Today, the Doge fractionalized NFT project is still the top dog, so to speak, in terms of market valuation, with $19.71 million. The second most valuable fractionalized NFT project today is Etherrock #72 (PEBBLE) with $5.96 million, but back in December, it had a $22.73 million market valuation.
On Tuesday, August 9, 2022, dappradar.com metrics show that fractionalized NFTs have an overall market cap of around $50.4 million.
All of the top fractionalized NFT projects followed the same downward path like the third-largest project Feisty Doge NFT (NFD), which once held an $18.29 million market cap. Today, statistics show NFD is down to $4.22 million. Ladypunk (LADY) had a $7.67 million market valuation seven months ago, and now it’s down to $2.9 million.
LADY also once held the fourth spot, at that time in December, but now it’s coasting along in the fifth position. The fourth-largest fractionalized NFT project today is Ape Punk (APES) with its $2.99 million valuation. The fractionalized Ape Punk project was worth $3.13 million and the project Dissected Meebit NFT (DSMB) was the fifth largest last December.
Meanwhile, while DOG, PEBBLE, and NFD have the largest market caps today, they also have the most liquidity. The Doge NFT has around $4.86 million, Etherrock #72 is $1.25 million, and the Feisty Doge NFT has roughly $1.15 million in liquidity. The fourth-largest fractionalized project Ape Punk has just over $100K in liquidity, while the rest of the fractionalized gang of NFTs have less than $100K in terms of liquidity.