The fragmented NFT market grew to the range of over $200 million in December 2021 seven months ago when non-fungible token (NFT) collectibles became popular. Since then, the fragmented NFT market has lost more than 76% of its value, falling to around $50 million in overall market capitalization.
Fractional NFT market cap slips from $212 million to $50 million
The fragmented NFT market follows the massive growth of the entire NFT industry last year.At its peak in December 2021, the overall fragmented NFT market is valued at approximately $212.6 millionaccording to metrics documented by dappradar.com.
Today, the value has evaporated 76.41%, because the current market cap of segmented NFTs is about $50,401,068. More than seven months ago on Sunday, December 12, 2021, the largest segmented NFT project market valuation belonged to Doge NFT (DOG), with a market cap of $130.14 million.
Today, the Doge Fragmented NFT project remains the top spot, arguably, in terms of market cap, at $19.71 million. The second most valuable fragmented NFT project today is Etherrock #72 (PEBBLE) at $5.96 million, but in December it was valued at $22.73 million by the market.
All top fragmented NFT projects follow the same downward path, such as the third largest project Feisty Doge NFT (NFD), which once had a market cap of $18.29 million. Today, statistics show that NFD has dropped to $4.22 million. Ladypunk (LADY), which was valued at $7.67 million seven months ago, is now down to $2.9 million.
LADY also held the fourth spot at one point, in December, but now it’s sliding to fifth. The fourth largest segmented NFT project today is Ape Punk (APES), valued at $2.99 million. The fragmented Ape Punk project was worth $3.13 million, and the Dissected Meebit NFT (DSMB) project was the fifth largest in December last year.
Today, DSMB has fallen to the seventh-largest market valuation position among all segmented NFTs. Following the larger NFT industry, decentralized NFT market valuations have improved over the past 30 days. While NFT sales fell by more than 60% in June, NFT sales fell only 5.23% last month, according to cryptoslam.io statistics.
At the same time, while DOG, PEBBLE, and NFD have the largest market capitalization today, they also have the most liquidity. The liquidity of Doge NFT is about $4.86 million, Etherrock #72 is $1.25 million, and Feisty Doge NFT has liquidity of about $1.15 million. The fourth largest fragmentation project, Ape Punk, has just over $100,000 in liquidity, while the rest of the fragmented NFT gangs have less than $100,000 in liquidity.
What do you think about the economic decline of part of the NFT market to $50 million? Let us know what you think about this topic in the comments section below.
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