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The hype around NFTs (non-fungible tokens) is long gone. By now, most of the industry is well aware of the fall in prices for major NFT projects. NFT trading volume on Solana , one of the most popular networks for NFT minting, fell by half for the month of October. According to Dappradar, NFT sales witnessed new monthly lows in October. According to Dappradar, NFT trading volume on Solana fell from  $134 million in September to $67 million in October. The higher September volume can be attributed to the highly anticipated launch of the yoots NFT mint passes. Nonetheless, Solana was not the only network to record falling NFT volumes. Ethereum (ETH), saw its volume drop from $$687 million in September, to $518 million in October. However, there could be a lag in the Ethereum numbers as Dappradar is yet to track trading data from Blur, a new Paradigm-backed marketplace launched in September. Why are Solana NFT numbers falling? Frankly, it is not just Solana, but the general NF...

Join Our Telegram channel to stay up to date on breaking news coverage You can turn your digital art into NFTs using a computer and a set of creative abilities. What are NFTs? Tokens using NFTs are non-fungible. In economics, the term “nonfungible” is frequently used to describe qualities like uniqueness and non-transferability. Nonfungibility in the cryptosphere simply means that something cannot be traded for another. A “token” is essentially a certificate of validity maintained on the decentralized blockchain, which makes digital assets traceable and available to everyone. Tokens are used as units of account. As a result, NFTs are a special kind of virtual currency that can be used for pretty much anything and typically takes the form of creative digital productions like paintings, films, music, collectibles for video games, and more. Everyone in the globe is now purchasing and selling NFTs due to their recent rise in early 2021. But how does one tu...