Hello guys, 
 
Take a glimpse at the falling price and demand for NFTs.
 
 
NFTs, or non-fungible tokens, are one of the digital assets that started back in 2017 with the creation of the Ethereum ERC-721 token and have become one of the most promising assets with hundreds of projects. Some of the projects have been sold for over $100k, but after 2022, they have fallen drastically.

 
Now no one is even talking about them. Back then, there were some of the top projects that crossed the hype, but now they are doing nothing and seeing a fall of about 300% in their price. Such as BAYC and Cryptopunk are facing a drop of about 8 months.
 
 
Some of the causes of the fall in NFTs are:

 
Wash Trading: It's a game that is illegal in securities such as stocks and bonds, but when it comes to crypto, there's just no protection. In this, a single entity buys all the assets and sells them to themselves again to inflate the market price in the market, then sells all that.

NFTs Bubble: In the last year, we have clearly seen the hype that many NFTs projects have created before launch and many other events that lead them to create a NFT bubble that occurs when the price of an asset rises so quickly with unstability, leading the bubble to burst and fall.

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