I thought the NFT craze was already over, to be honest, and the article being from July pretty much confirms this point. I agree with the op that it's one of those temporarily overhyped phases of the crypto market. But ICO was the strongest and the longest one, whereas those that followed it weren't as big and as long-lasting. They're not all bad, of course, but as a big movement which many want to join at some moment just because of the hype, it's harmful for many investors. And regarding physically backed NFTs, it's like a small branch inside a bigger movement, just like there were physically backed altcoin projects.
I don’t think the NFT craze is over just yet IMO. I like what 4K is going just for the fact that they’re taking valuable products and issue if nfts for them. They also mentioned that they’re launching a marketplace so I’m curious how that’ll stack up against places like eBay and stockx where the fees are high, fraud is rampant, and the crazy delays with escrowed items.
I like that they have an authentication process which helps with all of the issues other marketplaces struggle with. Minting nfts only makes sense because selling a high ticket item will be much easier because you usually have to involve at least like 2-3 middlemen.