### The world of NFTs, or non-fungible tokens, has taken the art world and the internet by storm. But is the hype starting to die down, or are we gearing up for another bull run? Dune Analytics, a blockchain data analysis platform, has released data showing a decline in the number of daily users and sales of NFTs since July 2021.

One factor that may have contributed to this decline is the high cost of gas prices, which have made it more expensive to execute transactions on the Ethereum blockchain. In addition, many people are dealing with financial concerns associated with tax season, which may be limiting their willingness to invest in NFTs.



Further data provided by Dune Analytics shows that there are less than 10,000 daily wallets that are trading NFTs. This number is significantly lower than the peak of over 89,000 daily wallets seen during the height of the NFT craze in 2020.



While this data may suggest that the NFT market is cooling off, it is important to remember that this technology is still in its infancy. As more people become familiar with NFTs and the underlying blockchain technology, we may see a resurgence in interest and demand. Only time will tell whether NFTs are here to stay or just a passing fad.

The world of NFTs, or non-fungible tokens, has taken the art world and the internet by storm. But is the hype starting to die down, or are we gearing up for another bull run? Dune Analytics, a blockchain data analysis platform, has released data showing a decline in the number of daily users and sales of NFTs since July 2021.

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