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NFT- and Metaverse-Related Cryptocurrencies Underperform as Fl | NFT & Crypto Updates

NFT- and Metaverse-Related Cryptocurrencies Underperform as Floor Prices Sink

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Flow network’s FLOW token, which can be used to build NFTs and decentralized applications (dapps) such as games on the Web3 platform, slumped 20% during the past seven days. FLOW’s decline was the second largest during that period among 52 cryptocurrencies with a market cap over $1 billion, according to crypto data and analysis firm Messari. According to a report from NFT data aggregator NonFungible.com, the amount of U.S. dollars traded in the NFT market dropped 25% in the second quarter from the first three months. NFT resell profit also fell 46% for a total loss of $1.4 billion.

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