Weeks after the FTX’s collapse, NFT volumes have tumbled to a 16-month low. As per Dappradar, NFT trading activity hasn’t seen such lows since July 2021. At that time, OpenSea was the world’s largest NFT marketplace and the only major trading venue in town. However, OpenSea volumes have declined from $226 million to $174 million, while X2Y2 fell from $145 million to just $69 million.