In June, Non-fungible tokens (NFT) sales have reached a 12-month low following the cryptocurrency crash.
In June, sales of NFTs totaled just over $1 billion (£830 million) compared to its peak of $12.6 billion in January.
"This decline is definitely linked to the broader slowdown in crypto markets. Times like this inevitably lead to consolidation within the affected markets, and for NFTs we will likely see a pullback in terms of the collections and types of NFTs that reach prominence."
- Ethan McMahon, Chainalysis economist.
Last November, the cryptocurrency market was estimated to be worth around $3 trillion, today it's value has dropped to less than $1 trillion.
