Since a CoinDesk scoop triggered the collapse of FTX, the value of NFTs has plummeted dramatically in the last few days

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Since a CoinDesk scoop triggered the collapse of FTX, the value of NFTs has plummeted dramatically in the last few days

We all know Solana's price drop on Monday sparked speculation that Alameda had sold off a large tranche of SOL in a rush to earn new liquidity. The research firm's balance sheet showed SOL as its second-largest holding. Regardless of what happened, NFT marketplaces are feeling the pain of this contagion.

All the chaos starts to happen. NFT buyers are purchasing NFTs at bid prices rather than buyers purchasing assets at seller’s offer prices, suggesting that users are trying to liquidate as soon as possible.

What do you think is the smartest thing to do in this situation? Have you been able to take any measures?

I think that for some time I'm gonna focus only on blockchain games and their NFT awards, WAM tournaments, and similar stuff since this situation with crypto is looking pretty risky.

While FTX.US's NFT marketplace will not be included in Binance's basket at checkout, it is home to NFTs built on Solana and Ethereum, the values of which are plummeting as these tokens face the blow of these assets dropping in value while liquidations are in progress.

How do you think this situation? Whatprogress, what should we expect next?