Twitter NFT Research Tool, NFT Inspect is Shutting Down, Here’s Why

• NFT Inspect, a unique web3 project leveraged Twitter to create an analytics tool that identifies an NFT community’s influence is shutting down. 
• Cardano Founder Charles Hoskinson changed his Twitter and Facebook profile picture to a jpg version of an NFT, triggering the NFT community.

NFT Inspect, a popular web3 aggregation and social analytics tool, is shutting down on January 17, 2023. The tool allows users to track the NFTs used in the profile pictures of the most prolific tweeters, as well as the strength of NFT communities.

The closure of NFT Inspect comes at a time when the NFT market is in decline. The global trading of NFTs has plummeted by more than 77% between the second and third quarters of 2022. This decline is likely due to a number of factors, including the economic recession, the rising cost of gas fees, and the increasing number of scams and rug pulls in the NFT space.

The closure of NFT Inspect is a blow to the NFT community. The tool was a valuable resource for NFT creators and collectors, and its absence will make it more difficult to track the NFT market.

In addition to the closure of NFT Inspect, the NFT community has also been rocked by the news that Charles Hoskinson, the founder of Cardano, used an NFT as his Twitter and Facebook profile picture without purchasing the token. Hoskinson was accused of right-clicking and saving someone’s NFT as a picture and using it as his profile picture.

The artist who created the NFT, JAR Heads, said that he did not mind Hoskinson using his NFT as his profile picture. However, the incident has sparked a debate about the ethics of using NFTs without purchasing them.

The closure of NFT Inspect and the controversy surrounding Charles Hoskinson are just two examples of the challenges facing the NFT market. The NFT market is still in its early stages, and it is likely to experience more volatility in the future.