Interesting Engineering is a cutting edge, leading community designed for all lovers of engineering, technology and science.
Get a daily digest of the latest news in tech, science, and technology, delivered right to your mailbox. Subscribe now.But this year has been a different story, as the bottom has dropped out of much of the NFT market.NFTs, or non-fungible tokens, took the digital world by storm. These unique digital representations of art or collectibles are linked to a blockchain, typicallyBut one of the defining features of NFTs is their incredible volatility.
From April 2022 to October 2023, MAYC experienced a substantial decline in value, dropping from 35.6 ETH to 4.9 ETH . Considering the fluctuations in Ethereum's value during this time frame, as provided by historical data fromAzuki is a series of 10,000 hand-drawn NFT avatars residing on the Ethereum blockchain. Meticulously crafted by Chiru Labs, located in Los Angeles, USA, they are specifically designed for the emerging metaverse.
Each Noun takes the form of a 32x32 pixel character, and offers an extensive array of possibilities with various body types and accessories. This includes 242 different heads, 140 unique accessories, 30 distinct bodies, 23 styles of glasses, and two background options. The value of CloneX has witnessed a significant decline, with its floor price plummeting from 16 ETH in April 2022 to 1.0 ETH by October 2023. This dramatic shift resulted in a reduction in value of $44,586.14.The Moonbirds NFT project is a flock of digital owls— precisely 10,000— that 'live' on the Ethereum blockchain. Each can be characterized by features like mohawks, eye patches, and blazing eyes.
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