It was a passing phase, a fad. NFT artists & creators made a lot of money. Lots of people got fleeced for a lot of money that they will never make back. NFTs are useless, they offer nothing, it’s just a massive scam. Similar to the ICO craze of 2017, NFTs were the trap of the last bull run. Be careful & don’t be a sheep.
I won't call it a scam but yeah there was no reason why it was so popular and people were investing so much money. Pretty similar to ICOs but at least ICOs had a promise, even if fake and bogus, that they will build something and we were investing in the vision.
Honestly NFTS were just a bubble for "investors"
Yeah, people found a way to squeeze more money from rich kids and they did so successfully. I was close to investing a good amount in NFTs which would probably be dust now if I did. But thankfully, I dodged the bullet!