The fractionalized NFT market grew past the $200 million range seven months ago in December 2021, during the height of an NFT craze. Since then, the fractionalized NFT market has lost more than 76% in value, dropping to an overall market capitalization of around $50 million today.
Right now, the Doge fractionalized NFT project is the leader in terms of market valuation, with $19.71 million. The second most valuable fractionalized NFT project today is Etherrock #72 (PEBBLE), with $5.96 million.
Elsewhere, the Bored Ape Yacht Club (BAYC) saw a significant reduction in sales volume due to negative market sentiment during the seventh month of the year. - a similar fate to more than 90% of NFTs.
It’s also worth noting that the first week of August saw a 3.58% drop in aggregate market cap for the 7 metaverses listed on OneLand. These include Decentraland, Voxels, The Sandbox, NFTWorlds, Otherside, Somnium Space, and Worldwide Webb.