NFT News: SuperRare average artwork price plunged by 50% in the last 50 days


March 23, 2022 ( Newswire) Artists and investors in the leading non-fungible token (NFT) marketplace SuperRare are staring at an uncertain future. That’s because its average artwork prices have consistently plunged in the last 50 days. has presented data showing its average prices have declined by 49.64%. From a high of about 9.55 ETH on 1st Feb 2022, the price has tumbled to 4.74 ETH.

“The hype surrounding the breakout of NFTs is petering out,” explains’s Edith Reads. She adds, “The NFT market is correcting itself which comes with users exercising prudence in their purchases.”

Is SuperRare’s NFT bubble popping?

The declining prices have coincided with declines in the marketplace’s other critical metrics. For instance, SuperRare’s monthly artwork sales dropped from 487 to 355. Likewise, its active collectors reduced by 40 from 277, and crypto art volume plunged from roughly 7.4M to 3.7M.

That’s led some commentators to suggest that we could be amidst an NFT bubble. Edith, however, disagrees with that assertion.

She concedes that certain artists could be cutting their losses which explains the price drops. However, she insists that what’s happening on SuperRare doesn’t necessarily reflect happenings in the overall NFT market space.

This turn of events has seen SuperRare’s DAO’s revenue dwindle. At press time, the DAO’s primary revenues had shrunk from $1,047,599 to $517,305. Similarly, its secondary earnings sank some $21K from $47,177. Artist loyalties have also been on a downward trend.

Mixed reception of NFTs

Since they broke out, NFTs have attracted acclaim and criticism in equal measure. To their proponents, they are the future of ownership. They allow for the tokenization of anything, enhancing portability and provenance.

On the flipside, NFT-skeptics have seen them as nothing more than an overhyped fad. To them are a hollow construct to which one would be at pains to ascribe a real use case.

The full story and statistics can be found here: SuperRare average artwork price plunged by 50% in the last 50 days

More Info:

This news is published on the Newswire – a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire and

Global investors must adhere to regulations of each country. Please read privacy policy:

Buy a crypto guest post on

The Margin: Watch: Chevy pickup truck drives away after Texas tornado flips it over

Previous article

Cannabis Stock News: Aurora Cannabis (NASDAQ: $ACB) (TSX: $ACB.TO) Advances Premiumization Strategy by Acquiring Thrive Cannabis, and its Award-Winning Greybeard Brand, in a Margin Accretive Transaction

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in News