Mark Cuban's NFT Sell-Off Leads to 45% Market Volume Decline

Prominent NFT sales and market downturn mark a challenging quarter for digital collectibles
Mark Cuban's NFT Sell-Off Leads to 45% Market Volume Decline
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Billionaire investor Mark Cuban’s crypto wallet resumed activity on June 23, offloading various NFTs after nearly two years of inactivity. This move coincided with a significant drop in the NFT market, which saw a 45% decline in sales volume in Q2 2024. Cuban's wallet, known through the Ethereum Name Service domain “markcuban.eth,” sold NFTs including EulerBeats Genesis, DeepBlack, Pudgy Penguins, and Wrapped MoonCats.

In other news, Japanese game company Konami partnered with Avalanche to launch the Resella NFT platform, and Bitwise introduced an Ethereum ETF ad that can be minted as an NFT. These developments come amid broader market volatility and a downturn in digital collectibles.

Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.

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