--- title: "It’s Official: Pretty Much Nobody Is Buying NFTs Anymore" description: "NFT trading volumes are down a catastrophic 97 percent from the record highs seen back in January — forget crypto winter, is this a full-blown web3 ice age?" date: "2022-09-30" modified: "2022-09-30" authors: - name: "Maggie Harrison Dupré" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/mharrison" url: "https://futurism.com/the-byte/nobody-buying-nfts-anymore" categories: - "Blockchain" - "Future Society" - "NFTs" tags: - "crypto" - "nft" - "nfts" - "the digest" --- # It’s Official: Pretty Much Nobody Is Buying NFTs Anymore ![NFT trading volumes are down a catastrophic 97 percent from the record highs seen back in January — forget crypto winter, is this a full-blown web3 ice age?]() *\Image: Noam Galai via Getty / Futurism\* ## Bubble Burst Bad month to be a nonfungible token. According [to *Bloomberg*](), NFT trading volumes are down a catastrophic 97 percent from the record highs seen back in January — a sign that the market may be experiencing something less like a winter and more like [a full-blown ice age](). That being said, the remaining sales aren't nothing. Per *Bloomberg*, September sales numbers should ring in right around $466 million. That's something, but it's a far cry from monthly sales totaling $19 billion, as were seen at the beginning of the year. ## Macroeconomic Conditions Diminishing NFT trading volumes have been reflected elsewhere in the market. OpenSea, the world's top NFT trading platform by trading volume, fired [20 percent of its workforce]() back in July, while the sad NFT spiral is situated [against the backdrop]() that is the [broader industry crash](). On that note, it's worth noting that there are some dismal macroeconomic conditions to consider, as pretty much every NFT-slash-crypto-CEO has noted during the [industry's mass layoffs](). Most industries are having a difficult time right now, as are everyday folks struggling with the economy. The fading hype around digital assets — due in large part to a growing lack of distrust in the industry, following the crash — combined with a generally uncertain financial future is likely making it a lot harder to convince consumers that spending anything from a few hundred to a few million is worth it for a JPEG image, especially in an arena rife with [fraud, scams](), and [just downright horrible behavior](). ## Uncertain Future As many experts [have echoed](), it's unlikely that we're seeing the absolute end of NFTs. But as the immensely overblown clout that the industry was built on continues to dwindle, prices — and sales volumes — will likely continue to reflect that. In the meantime, there are a number of ways for sellers to [get creative](). Seriously, can you imagine where the market would be if *all* NFTs came with side of [free weed]()? Something to think about. **READ MORE:** *[NFT Trading Volumes Collapse 97% From January Peak]()* \[*Bloomberg*\] **More on NFTs:** *[Sleazy Project Sold NFTs of Porn Stars, But Never Got Their Permission]()* ## Author At Futurism, I've reported extensively on the rise of AI as a cultural and business force shaping the media industry, and more broadly how those dynamics are changing how we all consume and share information and relate to one another. I'm also fascinated by public health policy and ethics, the role of emerging tech in politics and governance — and the powerful people and forces at those intersections — climate change, and the environment. My investigation on Sports Illustrated's use of AI-generated authors with fictional biographies won a 2024 Mirror Award for "Best Story on Media Coverage of Artificial Intelligence in Journalism and the Media" from Syracuse University's SI Newhouse School, I contributed to Niemen Lab's 2025 Predictions for Journalism series, and I've discussed my work for Futurism during appearances on NPR, CNN, the BBC, the CBC, and more. I grew up in rural Pennsylvania and attended the University of Massachusetts Amherst, where I played Division I field hockey for the Minutewomen as a midfielder. Since then, I've lived in New Orleans, Louisiana and Manhattan, New York. I spend my free time running, reading, perusing archival fashion, and searching for the world’s best negroni. I also have a debonair tuxedo cat, Westley, who's named after "The Princess Bride." ### Author social links [Bluesky]()