96% of NFT Collections Considered "Dead"


Analysts report that out of 5,000 NFT collections, 96% are considered "dead" due to:


- Zero trading volume
- No sales in 7+ days
- No activity on social networks


Additional findings:


- Average NFT collection lifespan: 1.14 years (2.5x less than crypto projects)
- 44.5% of NFT owners face losses
- 4/10 NFT owners need to make a profit
- 2023 saw a record number of NFT collapses (30%)


Notable examples:


- Justin Bieber's NFT purchases lost 94.7% value
- CryptoPunk #5822 sold at 80% loss


OpenSea's struggles:


- Valuation dropped from $13.3B to $1.4B
- SEC and FTC claims, increased competition, and layoffs


However, OpenSea still has $438M in cash and $45M in crypto reserves.