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Sentiment around non-fungible tokens (NFTs) fell 14% among companies in the June quarter (Q2), demonstrating a decline in optimism around NFTs due to growing talk of the slowing market. cryptocurrency, according to a report released Wednesday.

In the second quarter of 2022, non-fungible tokens have been the subject of more debate than ever, although opinions have changed, which has led to a decline in optimism.

“According to the latest earnings announcements, this decline in confidence was caused by talk surrounding the decline of the cryptocurrency market,” said Ekta Chourasia, trading fundamentals analyst at GlobalData, a leading data and analytics firm. to analyse.

Mention of non-fungible tokens in corporate earnings call transcripts peaked in the June quarter (Q2), registering a 30% increase (QoQ).

Several companies like Concentrix Corp, BlackBerry, and NVIDIA Corporation discussed the depressed crypto market.

Coinbase Global, a banking and payments company, mentioned high crypto price volatility affecting its transaction revenue and Nano Dimension Ltd mentioned the loss of crypto value.

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There have also been positive discussions about NFT, especially around the mentions of “investment”, “invested”, and “launch”.

Coinbase Global, mentioned the launch of NFT Beta and plans to add functionality that would allow people to create their own non-fungible tokens.

The technology sector alone accounted for 53% of total NFT mentions, followed by banking and payments with 18% of mentions.

“Some NFT discussions have also focused on the keyword ‘E-commerce’ showing the growing application of NFTs in e-commerce businesses,” Chourasia said.