What do you guys think was responsible for that drop?
The decline in hype on NFT is real, everyone used to talk about it, but now it seems to be slowly fading. Maybe because of the new hype like meme tokens or new categories of altcoins. I have my own view on why the hype on NFT is decreasing, it is due to 3 basic things.
1. NFT have no real use, they are just limited edition images.
2. Challenges on the legal side.
3. NFT stand for short term hype over long term vision.
The three things I mentioned above are the main problems that NFT should solve, when those three problems can be solved, I think the hype for NFT could last longer & be more sustainable.