As crypto winter is flooding the digital asset market in bloody figures, NFTs also see a major downside. According to the latest data, as Bloomberg reports, the non-fungible assets market has tumbled 97% ( $466 million)  from a record high in January this year ($17 billion). 

However, the mass adoption of NFTs is still strong: the number of wallets owning NFTs has increased from 3.36 million to 6.14 million, over the same period. And here’s a fresh example: Crypto Punks collection saw one of the biggest purchases lately. Item #2924 has just been sold for nearly $4.5 million worth of ETH.

Big brands in various industries are also strengthening their NFT narratives with more and more collaborations being announced. Tiffany issued a special fine jewelry edition for Crypto Punk holders, and Christie’s auction house introduced fully on-chain NFT sales.