Why Silicon Valley Bank collapse had little impact on top NFT art projects, report says

After a shaky 2022, during which non-fungible token art projects saw a 97% loss in trading volume, the industry has been on an upwards trajectory this year. The recent collapse of several U.S. banks, including Silicon Valley Bank, has had little effect on blue chip NFT projects like the Bored Ape Yacht Club and CryptoPunks, according to a Mar. 16 report by DappRadar, which tracks and analyzes decentralized applications.

“During the recent financial banking crisis, blue chip collections have proven to be a valuable asset class,…