I still recall the NFT hype of few years ago. It was the most popular form of digital art then, thought it will stand the test of time probably 10 years but unfortunately today NFTs have not only faded, it has lost value. Few years ago when NFTs were making headlines, people bought them at ridiculous prices hoping to get rich quick on the long run. At some point it was sold at fund raising events which was cool.
I still recall when the internet when Justin Sun bought a banana-on-a-wall art piece for $6.2million, in his case he didn’t buy it for profit he said he bought it because the piece represented a cultural phenomenon that bridges art and the crypto community. But presently i think it’s safe NFTs don’t stand a chance to go mainstream anymore, even though they were seen as a key part of Web3 ecosystem then, it doesn’t hold no real utility to make it significant now.
I wonder if OpenSea and Doodles still generate enough revenue from NFTs anymore because now everyone cares more about AI, ChatGPT than NFTs.
I still recall when the internet when Justin Sun bought a banana-on-a-wall art piece for $6.2million, in his case he didn’t buy it for profit he said he bought it because the piece represented a cultural phenomenon that bridges art and the crypto community. But presently i think it’s safe NFTs don’t stand a chance to go mainstream anymore, even though they were seen as a key part of Web3 ecosystem then, it doesn’t hold no real utility to make it significant now.
I wonder if OpenSea and Doodles still generate enough revenue from NFTs anymore because now everyone cares more about AI, ChatGPT than NFTs.
NFT market statistics based on DappRadar show a decline and this is in line with the fact that NFT is not actually moving in a positive direction. Its peak was only in 2022 and after that there was no more sensation at all. Artworks in images are getting easier to create, AI technology will provide everything but that is also the point where the NFT market will collapse, because there are no more privileges. Anyone, even beginners can easily mint NFTs, just a pile of useless garbage in the current era.