• Lens Protocol Profile NFT witnesses a big value drop of 60% inside every week.
• Wu attributes the drop to a check invitation system launched by Lens.
• Some traders see the worth drop as a chance to accumulate discounted NFTs.

As revealed by outstanding Chinese language cryptocurrency journalist Colin Wu, the ground value of Lens Protocol Profile NFTs on OpenSea, a well-liked marketplace for non-fungible tokens (NFTs), has dropped considerably. rice discipline.

In a current tweet, Wu shared that the worth of those digital collectibles has plummeted by greater than 60% over the previous week and is presently hovering round $50 USDC. Particularly, the bottom value is the bottom value an NFT within the assortment is presently promoting for.

In keeping with a Chinese language reporter, this surprising value drop could also be as a result of current launch of Lens’ check invitation system on July thirteenth. Additionally, maybe involved concerning the impression of this new characteristic, some people are holding and contributing to the worth drop.

Then again, one other chance is that the general NFT market has been declining in current weeks. In keeping with information from a well-liked cryptocurrency market tracker, the NFT market has fallen practically 20% within the final 24 hours.

In response to Wu’s tweet, one commentator stated the present scenario gives an incredible alternative to get these NFTs at a reduced value. The Twitter consumer expressed his private opinion, stating, “It is a good time to get behind the wheel, IMO.”

one other remark Added A little bit of an irony to the dialogue, highlighting the comparability between the NFT value of the present Lens Protocol Profile and the price of an app known as Dot Web in the course of the Kickstarter marketing campaign.

Nonetheless, not everybody appears to have a clean expertise with these NFT transactions.consumer Expressed “However $100 cannot purchase it. Transactions are coming again.”