NFT sales rose for the first time in seven months in November, reaching $530 million, a 13.2% increase from October. Freed the market from the FTX bankruptcy.
Giulio Xiloyannis, co-founder of Web3 venture capital studio LiquidX, said that whale investors who hold a large number of NFTs and cryptocurrencies are better able to withstand shocks such as FTX and look for opportunities in market downturns.
Yehudah Petscher, NFT relationship strategist at CryptoSlam, said that while there is growing confusion in the crypto market in the short term, there is enthusiasm for the future of NFTs in the Web3 decentralized internet built around blockchain.
