How does the decline of cryptocurrency prices affect NFT artists?

The value of mint prices fell drastically in June, highlighting the potential benefits of fiat money for NFT marketplaces. NFT developers must choose between increasing their mint price in crypto terms and incurring significant fiat losses.

Is there among you maybe an NFT artist, cuz I’m wondering how you as an NFT artist are dealing with the fact that mint price values dropped?

It’s obvious that creators are concerned about the ethical and pragmatic ramifications of raising their mint prices, the cost of establishing a digital collectible on a blockchain like Ethereum, and the price-depressed crypto market benefits NFT collectors.

Sellers wanting to prevent losses have sometimes had to double or treble their initial mint pricing. Because of the price volatility, established payment processors are cooperating with NFT markets to make fiat payment mainstream in the area.

Primary and secondary NFT sales are both down more than 20% in volume and fiat value over the past week, according to NonFungible.com.

But this surprise me cuz every single day new projects are popping up, I’ve seen that a bunch of people are amazed by that fashion NFT/Metaverse project Faith Tribe, people are buying NFT tickets like crazy, etc. Somehow even if we’re facing troubles we’re still patient and waiting for all of this to end.

How long do you think all this mess would last?

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