What I know is that NFT prices can change quickly and complexly and almost every day is born on the other hand The downside is low liquidity and trading volume although 2024 will be the year of NFT.
Yeah so widely speculated that 2024 is will be the year of NFT mainstream adoption but then with the present energy that has been put out it suggests that NFT lovers may have to wait longer than 2024 to see a significant shift in the entire development.
Unless NFT is also designed just to be hype just like what we have experienced in the past with another blockchain project with their tokenization.
Yes, that's how the market works since the inception of ICO way back in 2017. And then it evolved so IEO->IDO and other hype in the following years. And now we have another one in the last 2 years which is NFT.
Currently it's a big controversial, specially BRC-20 tokens because it cause so much issues with bitcoin's blockchain at it clogged it's mempool, pushing the price to reach like 500 sat/vB, which is a bit expensive. And I think it is also the same with ERC-20 based NFT's, ETH gas fees are too expensive even though they have upgraded from PoW to PoS and everyone thought that it will resolved that problems, but it didn't, on the contrary it's worst right now.