Decline in Value of Australian Open NFTs: What Happened?
Summary
The Australian Open NFT program, which allows fans to purchase tennis ball art as NFTs linked to specific court plots, has experienced a significant decline in value. The value of these NFTs has dropped by up to 90%, with the current floor price around 0.005ETH ($25).
Key Points
Value Decline: From an initial minting price of 0.067ETH and 0.23ETH, the value of the NFTs has drastically decreased.
Shift in Focus: The Australian Open is shifting its focus to other digital initiatives, such as technology integration in gaming platforms and the use of facial recognition for security.
Conclusion
This decline reflects the challenges in maintaining the value of NFTs and the importance of long-term strategies in sports NFT projects.
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