Author : Zack

Date : Jan 05,2023

Will be discontinued on January 17

According to a tweet from the project, NFT Inspect, a well-known research tool for estimating the value of a non-fungible token (NFT) and the size of its community, will be discontinued on January 17.

The team said, "After months of working and tweaking, we have reached the difficult decision that we cannot maintain Inspect going forward. We greatly appreciate all of your support during this last year's emotional journey.

Users of Crypto Twitter may keep an eye on the NFTs used in the profile images of the most active tweeters thanks to NFT Inspect. Researchers can use it to see whether NFT projects are popular with Crypto Twitter's young users and flag changes. The decision to end the project was made as a result of the waning market demand for NFTs.

In the third quarter of last year, as compared to the second quarter, the global trading volume of NFTs decreased by 77% to $1.7 billion, according to latest analysis from NonFungible. According to the study, the resale profit fell by 84% over that time.

NFT sales in December totaled about $650 million, down from $2.6 billion in December 2021, according to data from CryptoSlam.