..osf_nft says the NFT market should bounce back once the federalreserve lowers interest rates, because the market is ultimately tied to the broader financial markets, which are influenced by rates. _franvela reports.
, global NFT sales declined by 89% in November from a peak of $5 billion in January, Bloomberg reported.
The nosedive in NFTs sales is influenced by the Fed raising interest rates in the face of all-time high inflation coupled with “tourist money” swiftly leaving the market. That leaves retail investors in a tough spot, according to Faruq.“This general change in secular trends, that's something that will not change and will continue to escalate and become a larger part of our lives,” Faruq said.
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