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The Mob Got To NFTs; is it time to bounce?

While a mob-themed NFT collection has been published, recent data indicates that the non-fungible token market has reached its peak.

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The creators of a Las Vegas mafia attraction are releasing non-fungible tokens with digitized versions of real-life organized crime memorabilia.

The collection, dubbed “The Mob Experience,” features NFTs of items once owned by some of America’s most infamous gangsters. Among the historical objects are a handwritten letter from Al Capone to his son, written from Alcatraz; Meyer Lansky’s handwritten diaries; Bugsy Seigel’s handgun; and Mickey Cohen’s brass knuckles.

According to a recent press release, the collection will be auctioned off over a two-week period beginning today. Is “the mob’s” arrival on the token scene a little late, considering the drastic turn the NFT market has taken in the last month?

 According to data from Nonfungible.com, almost every measurable metric related to the selling of NFTs has dropped in the recent month. The number of NFT sales fell by 30% in the last month, from 179,656 to 124,371.

During the same time span, the number of active NFT wallets fell by 24%, while the number of specific NFT buyers fell by the same amount.

According to a recent Bloomberg survey, the average value of each purchased NFT fell by 70% in April. The average price charged for an NFT fell from $4,300 in February to $1,400 only a few months later.

Michael Evers, a cryptocurrency trader, inspired The Mob Experience to enter the NFT sector. Evers emphasized the rarity of converting a museum-quality collection into NFTs.

“A museum-quality collection has never been linked to the NFT market before. The chance for Mob fans and enthusiasts, as well as NFT owners, to own an exceptional and rare, One of a Kind piece of history is an exciting new first for the NFT marketplace,” said Evers.

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