Popular NFT collections take massive price hit in 2023

Information from NFTGo shows that the Blue Chip Index went down to 7,446 ETH from its annual high of 12,394 ETH back in July 2022. Blue Chip Index computed by weighting the marketplace cap (ETH/USD) of blue chip collections. Source: NFTGoSurprisingly, NFT investors remain unfazed by the ongoing decrease in worth. While some anticipate further and extended devaluation of NFT prices, a handful of investors think its the correct time to invest, as they expect a comeback.Holders and traders of blue-chip NFTs. Source: NFTGoOn the contrary, the number of blue chip NFT holders over the previous year has increased by more than 90%. During this time, sellers increased by 32% while buyers decreased by 30%. Related: Bitcoin rate strikes $27.2 K, however new analysis cautions more losses likelyDespite the financial obstacles, the NFT community continues to draw the attention of brand-new investors. On May 27, crypto skeptic Peter Schiff released an NFT job on the Bitcoin blockchain via Ordinals.BREAKING: ORDINALS ENJOYERS MANAGE TO ON-BOARD PETER SCHIFF TO BITCOIN IN 3 MONTHS; LASER-EYES SEETHING AFTER FAILING TO GET HIM TO JOIN FOR 10 YEARS pic.twitter.com/rbWPhXJYD2— Udi Wertheimer ♂ (@udiWertheimer) May 26, 2023.

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Schiff revealed the “Golden Triumph” NFT collection, illustrating a human hand holding a bar of gold. The collectibles will be sold through a two-part auction starting on June 2 and ending on June 9.

Investments in leading NFT projects, including Doodles, Invisible Friends, Moonbirds and Goblintown, have actually lost up to 95% of their worth in Ether (ETH). Doodles … 23 ETH 2.3 ETH Invisible Friends … 8 ETH 1.15 ETHMoonbirds … 32 ETH 2 ETHGoblintown … 6 ETH.26 ETH pic.twitter.com/5Fr9BMhmkg— HashBastards NFTs (@HashBastardsNFT) May 21, 2023