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.
Yes. Interest in NFTs has declined considerably over the years. People are more interested in centralized "shitcoins", "meme" coins, and AI-based tokens. With NFTs never having real use cases other than being pure copy-and-paste images from the web, I don't expect things to change anytime soon.
A pity, because NFTs had potential to revolutionize the collectibles industry. We would've lived in a future where everything you "own" is stored digitally on the Blockchain with an immutable record of "Proof of Ownership". And now with RWAs (Real World Assets) becoming the next big thing, NFTs are history. If you still hold an NFT, it might be a good time to get rid of it before it's too late. You'll thank me later.