More misery around the cornerupdateIn August 2022, OpenSea accumulated a transaction value of $498 million which was down by 5.5% since July’s $527 million total. NFT trading volumes on OpenSea have plunged by 90% from their peak, but still handling half a billion dollars a month.
This remains the lowest total since August 2022. Meanwhile, the highest transaction value was observed in January 2022 at a whopping $5.87 billion.surrounding certain blue-chip NFTs including BAYC and MAYC. This can lead to potential upward pressure on NFTs in the coming weeks. Meanwhile, there is some positive news for NFT traders after a recent announcement fromFifa will be launching a new NFT collectible along with Algorand with the highly anticipated FIFA World Cup just around the corner.“This exciting announcement makes FIFA collectibles available to any football fan, democratising the ability to own a part of the FIFA World Cup.