According to TechFlame, according to Bloomberg, NFTs, which were once a hot field for cryptocurrency traders and enthusiasts, seem to be much different now. This once popular track has now seen five consecutive quarters of decline in trading volume. According to data compiled by DappRadar, total NFT transactions fell to $8.23 billion in the second quarter, compared to $40 billion in the same period last year. Although total NFT transactions have dropped 19% in 2024, making it the worst year ever for the sector, this year's data shows that the market slump hasn't bottomed out. These numbers also reflect that digital assets, such as collectible cartoon avatars and viral memes, are gradually losing their former appeal.