NFT collection failures begin to mount in flashback to ICO bust

FOR every Bored Ape and CryptoPunk there is a Baby Baller, 1 of the thousands of non-fungible token (NFT) projects that have faltered not long after celebrated debuts.

On average, 1 in 3 NFT collections have essentially expired, with little or no trading activity, blockchain analytics firm Nansen found. Another third are trading below the amount it cost issuers to mint the tokens.

Nansen analysed about 8,400 collections comprising 19.3 million individual NFTs on the Ethereum blockchain.