Ethereum-denominated NFT-500 index down 50% this year

Data released by Nansen shows that the NFT-500 index, which measures the valuation of the top 500 NFTs in terms of Ethereum, has dropped by 50% since the beginning of the year. The index has also decreased by 16% when measured in USD.

At the same time, the Blue-Chip 10 index (which only focuses on the most popular NFT series such as CryptoPunks and Bored Ape Yacht Club (BAYC)) has fallen by 44% in terms of ETH and 1.7% in terms of USD.