There's always a false sense of some value on a hype, that's why people easily invest in all sorts of shitcoins. The problem with NFT isn't that it can't recover that fast, it won't recover ever again. At least in the form it was in 2021. All those projects will never again be worth the money that was asked for them in 2021. Exactly the same story that happened with ICOs in 2018 happened. Those coins never recovered, in their bulk, and died completely.
NFTs won't recover again because the vast majority are pure junk. They have no real utility. The fact that most of their content is stored on a centralized server, is a huge turn off for me. Isn't the Blockchain all about "immutability"? I wouldn't want to buy something that could disappear in an instant.
Most people don't care about this, since they only want to make a quick buck. Convenience goes on top of everything else. Hopefully, the industry will mature in the future as developers put their emphasis on quality instead of quantity. No one can predict the future, so lets hope for the best.
