I don’t know about you, but it looks like we’re in the ICO stage (2017) stage of NFTs. Quick cash grabs, high floor prices, etc.
Beyond art, I see so many other applications for NFTs. Example: Michael Jordan creating a fan engagement platform with NFTs, companies like 4K turning physical goods into NFTs to leverage, music platforms that sell NFTs to redeem for experiences, etc.
What other applications do you guys see for NFTs?
Did ICO last longer after the hype? No, right that is what eventually will happen to NFT as well in my opinion.
Arguably ICOs evolved into IEOs and IDOs and such, with much more reasonable amount of money being raised. So I think it's not as clear as simply fading away. I agree NFTs are widely overvalued, but just like raising money for new altcoin projects has remained popular, so will these new tokens I imagine. The art & collectables industry are loving them, even if the crypto market isn't so impressed.
Based on my observation I think NFT are able to gain wide mainstream awareness toward the NFT itself and cryptocurrencies on the surface, while ICO were particularly a niche-specific market that only regular cryptocurrency users are adopting. So I do too believe that there is no reason NFT will fade away instantaneously. Not to mention that NFT is still early, so there is a lot of room to grow.