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Oh yea, NFTs are still here.
They might have fallen of the pedestal, but they aren’t dead just yet.
At least the very elite and premium NFTs, as what we predicted will happen.
99% of NFTs from the boom will fade away into oblivion.
Only 1% or less of the best NFT projects will survive.
2023 has been a rollercoaster for the NFT (Non-Fungible Token) market, and the top 10 sales are painting a fascinating picture.
Despite a downward trend from the dizzying heights of 2021, NFTs are still pulling in eye-watering sums.
This year’s total?
A cool $13.4 million, or 6,002 ETH, for the top 10 alone.
This elite group is dominated by Yuga Labs’ creations — CryptoPunks and Bored Ape Yacht Club (BAYC), with a sprinkle of Art Blocks’ Fidenza collection.
Four of the top sales were CryptoPunks, four were Bored Apes, one was a Mutant Ape, and one was a Fidenza NFT.
These digital assets might be jpegs but they’re symbols of a new era in art and ownership.
Despite the slump, people are still buying, and for good reasons.
NFTs represent a unique blend of art, technology, and investment.
They’re a status symbol in the digital world, a new way of expressing personal taste and wealth.
Plus, let’s not forget the speculative aspect; many buyers are betting on future appreciation.
So, are NFTs dead?
Yes, for most of them.
But the market is evolving, not disappearing.
The hype may have cooled, but the underlying technology and the concept of digital ownership are here to stay.
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