Skip to content
Subscriber Only

NFT Price Crash Stirs Debate on Whether Stimulus-Led Fad Is Over

  • Average NFT prices are down almost 70% from their recent peak
  • But some commentators say innovative market is here to stay
crypto art gallery

Source: Sipa Asia/Shutterstock

Prices for digital collectibles like art and sports memorabilia are sliding, turning the focus back on whether the nascent market for so-called non-fungible tokens is any more than a fleeting mania.

Average prices for NFTs -- essentially tradable digital certificates that use blockchain technology to prove ownership and provenance of online assets -- have tumbled almost 70% from a peak in February to about $1,400, according to Nonfungible.com, which tracks a variety of NFT marketplaces.