Are NFTs dead? 3 crypto tokens to short as volume slumps

NFTs are dead. After receiving a lot of spotlight in 2021, their volume has slumped this year. Recent crypto news that the volume of NFTs traded in September was about 97% below those traded in January. NFT companies like OpenSea have announced layoffs. Analysts believe that the NFT industry is in its deathbed. If they are right, here are the top 3 NFT tokens to short. 

Immutable X

Immutable X is a layer-2 network that helps to supercharge Ethereum NFTs. It helps developers to offer NFTs at the lowest cost. According to its website, Immutable X has helped people mint over 36 million NFTs. It also handles over 6 million NFTs every year. Immutable X also has a marketplace for people to trade NFTs. It is well-known for its partnership with GameStop.

Therefore, as a layer-2 network that focuses