NFT, Metaverse Prices Following Crypto Crash; Innovations Seek Grace

While stablecoins in particular and cryptocurrencies in general have fallen sharply recently, other virtual assets in the Web 3.0 ecosystem such as non-fungible tokens (NFTs), metaverse (or digital/virtual world) prices also fell. However, the NFTs and the Metaverse are in their first generation (Gen 1) or initial phase and the market is examining the properties from a value perspective.

NFTs with real artistic value were less likely to participate in the fall. There are also some innovations being initiated or anticipated in the future that will take this asset class to the next …

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First published: Wednesday, May 18, 2022. 06:10 IST

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