Market capitalization of NFTs fell 5% in a week

Representatives of the Crypto.com cryptocurrency platform published the results of the analytical work carried out. In the published weekly report on the state of the cryptocurrency market, it was told about NFT tokens and in general this area.

From the highlights, you can see that the total capitalization of the NFT market decreased to $6,650,000,000, which is 5% less than last week. Previously, the total capitalization of the NFT sector was $7,000,000,000. According to analysts, the main event in the NFT world was the emergence of a non-fungible token platform from Nike called Swoosh. The platform is currently in beta testing, and the full launch will take place next year.

In addition, the release of the collection from Adidas Originals should be noted. The latter released their first 16 tokens, and the collection was named Virtual Gear. You can read more about the launch in our earlier article. If you missed it, you can follow this link and fill in the knowledge gap .

In the future, Nike is also going to join the culture of non-fungible tokens even more densely and will release their first collection. This event, as well as the full launch of Swoosh, is scheduled for 2023. Once this idea is realized, users will be able to purchase various digital clothing items from Nike, including shoes, accessories, jackets, pants, and more, and use them in the metaverse to enhance their appearance.

Returning to the NFT sector as a whole, it is worth mentioning the return of the CryptoPunks collection to a leading position. The minimum price of their tokens is now higher than that of another famous collection, Bored Ape Yacht Club. The cost of the cheapest CryptoPunks coin is in the range between 65 and 67 Ethereum. At the time of writing, the cost of one ETH is $1,200, which means that the cheapest non-fungible token from the CryptoPunks collection can cost a buyer $78,000-$80,400.

Other interesting NFT news is that the token purchased by the famous music artist Justin Bieber has fallen in price by 95%. You can read more about this here .

Other notable news include the acquisition of the NFT WENEW startup by Yuga Labs, which is known for creating the collections of Bored Ape Yacht Club, Mutant Ape Yacht Club and others.

Of the current NFT-interests, one can note an increased interest in non-fungible tokens related to the World Cup, which will start on November 20 in Qatar. CroSkulls was able to host the Bonesville Cup on the FIFA World Cup fantasy gaming platform. The three main rewards will be virtual pets, which will go to the top three in the top 3 of the standings.