In 2021-2022, NFTs experienced a tremendous surge of investor and creator attention but seem to have lost steam now. What factors are behind this change, and are NFTs shifting towards real-world applications or other uses?
The enthusiasm witnessed during 2021-2022 seems to have diminished as market participants adopt a more cautious approach. Personal observations indicate that this shift is partly due to overvaluation early on and a gradual clarification that NFTs need to establish genuine utility beyond speculative gains. Trends now suggest a more pragmatic integration of NFTs with physical assets and digital rights management. Though the initial burst may have subsided, the long-term potential for innovative applications in various industries remains a subject of interest for many.
i think nft’s arent dead but evolving. the hype faded so we can now see realistic usecase instead of quick flips. its a phase towards proper value, and eventually, more sustainable applications will likely emerge rather than just a speculativ frenzy.