NFTevening study: 96% of NFTs are 'dead', with an average lifespan of only 1.14 years

A recent report released by NFT information platform NFTevening reveals the decline of the NFT (non fungible token) market, with up to 96% of NFTs being deemed "dead". The report also shows that the average lifespan of NFTs is only 1.14 years.

NFTevening studied over 5000 NFT collectibles and approximately 5 million transactions. If any of the following conditions are met, such as "zero sales, less than 20 units sold in 7 days, and no signs of activity on the project's Twitter (now X)," the NFT is defined as "dead. The analysis results show that 96% of NFTs have died, with 2023 being the year with the highest number of NFT deaths, with nearly one-third dying in that year.

In addition, the report also reveals the financial losses faced by NFT investors, with over 43% of holders currently not making a profit, and an average investment loss of 44.5% for these investors. NFTevening stated, "This brutal statistical data highlights the risks associated with NFT investment and the unpredictable dynamics of the market

When analyzing various NFT series, it was found that Azuki is the most profitable NFT, with holders' investment profits exceeding 2.3 times, while Pudgy Penguins is the least profitable NFT, with holders facing a loss of 97%.

The analysis results of the report also indicate that the current average lifespan of NFTs is only 1.14 years, which is 2.5 times shorter than traditional cryptocurrency projects. NFTevening wrote in the report, "Such a short lifecycle reflects the strong speculative nature of NFTs

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