Just like into that ICO boom where people do really believe that it could bring out fortune into them until the market had been flooded out by lots of shit and garbage projects which we dont really need.
Lots had been scammed and lots had lost their money or investment but people or the community doesnt really learnt up from those mistakes and keep supporting and investing on things which are obviously scam and not really worthy and from ICO we do see IEO,Defi and here comes NFT and we dont know on whats next.
Every investment does have risk which it is depending on someone where they would really be that mindful on following risk management and good emotional handling.
I think we are not at that level of NFT anymore, we are at a level where it's bear market so only the good ones are getting any attention. I am still seeing some amazing art work, and not just like 10k collection type of ape shit, I mean like real art work by the artists, are getting sold for a high amount. Just recently I saw someone sold their art for 1 million dollars, without a problem, and that was just one digital product.
This is why NFT is still alive, it is just not alive for the people who are trying to scam others by doing silly ape stuff or punk stuff or whatever. That type of stuff will not fly anymore, people are not willing to spend much anymore.