Is NFT's hype over?

[Xal0lex]

Judging by the latest news, I noticed that the interest of NFT industry leaves a double impression. On the one hand in the same March there was a drop in interest in NFT from retail traders and those interested in this direction of the crypto industry.

This is also reflected in the drop in trading volumes on OpenSea and a decrease in the number of searches on Google. That is, according to these factors we can conclude that the NFT haip is coming to an end. But on the other hand in March venture capital investments were mostly in the NFT projects.

What do you think, the NFT HYIP is over or the interest in investments in the NFT projects is due to the fact that now the market began to appear to a greater extent, high-quality projects, but not a mountain of spam, when NFT created everyone who is not lazy?

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[Eddyc]

Excellent survey and a great discussion to ponder. However, we know that Bitcoin is the direct influencer of the entire market because when it's high Ethereum, Binance, Solana, Avalanche, Polygon and Fantom, that is, the main ones in the NFT segment, it increases according to the Bitcoin Hype. In my opinion, the NFT market is embryonic and has not yet shown its potential and variations.

It's too early to define the failure of this segment.

[crzy]

NFTs hype are distracted by the market condition, but many are still coming that are willing to buy NFTs, its not that hyped anymore but there still a demand. If the NFTs project fails to attract new investors, then this might be the start of being over with NFTs. If you have some, better to continue monitoring so you can sell in time.

[jossiel]

Maybe temporarily over and this could be depending on the market condition that's being affected by the war.

But if it's already over, I guess everyone is turning their eyes now on the web 3. That's the next trend that we're seeing already and before it gets on hype, probably most of them are now going there and turning themselves in before everybody gets in.

[Baofeng]

Or maybe it just coincide that the market is experiencing or at least entering the bullish phase this year?

And with that, everything a long the way will be wipe out, including the latest craze of NFT. We've seen this in 2018 wherein the majority of the hype project has died down, including ICO's, Ethereum slumping to 2 digits etc. Or it could be that investors is tired, NFT market is saturated already and they are waiting for the next hype in cryptoverse.

[Jaered]

I don't think the hype is over. But I think it would continue but this time, at a slower and steady rate than before. And as mainstream adoption continues, it would pump

[Scripture]

We’ve seen many insane NFTs that sold for millions and that hype is still here, it may not be that active because of the market condition but for sure when we enter into another bull trend, they will follow it and do the same thing again. This is not over yet, NFTs will stay and most probably will also enter into a pump and dump trend but it will not die anymore, we are into digital already and that’s a good start.

[evichi]

The use case of NFTs are varies from art work to gaming, etc. I think most people in the crypto space are getting familiar with the term 'NFT' as well as understanding the areas it can be used. The hype as per the term 'NFT' is going down, but on the other hand the use case is gaining momentum especially in the gaming industry. I will say NFT is consolidating as people begin the explore its possibilities. I will consider the hype as one of the stages to usher in NFT innovation. IMO, NFT industry have a lot of potentials in art and the gaming industry.

[Yogee]

NFT arts is still in its hype phase when you see some ordinary looking images sell for millions of dollars. Have you read about the women with long necks drawn by a 13-year old? She became a multi-millionaire because of that.

That viral video of Aftican men dancing while carrying a coffin on their shoulders was also sold for a million dollar.

[Ahli38]

when it ends, I say it's still not but it's just subsided. because almost all the new projects that are currently in it are based on NFT. even the artists in my country are now starting to dive into the world of NFT. and the general public who are even more familiar with the word NFT than the token itself to buy NFT. but maybe it's just my opinion when you look at the conditions in my country. but I don't know in other countries.
but when viewed from a google search word it has subsided but there are still many but not as much as at the peak of the hype.

[Blowon]

The NFT hype that I see is saturated, maybe it's not over but they have to look for fresh ideas for their NFT, because basically the NFT hype requires an innovative and creative concept so that people want to buy and keep it.
According to the data you show, it seems that only the Opensea market has decreased sales because it is getting saturated, but some markets are still running stable, Some projects are still developing their NFT, but not all of them are sold on Opensea because now we have an NFT market apart from that.

[Beparanf]

The NFT hype that I see is saturated, maybe it's not over but they have to look for fresh ideas for their NFT, because basically the NFT hype requires an innovative and creative concept so that people want to buy and keep it.
According to the data you show, it seems that only the Opensea market has decreased sales because it is getting saturated, but some markets are still running stable, Some projects are still developing their NFT, but not all of them are sold on Opensea because now we have an NFT market apart from that.

Market Saturation is indeed the problem since the number of NFT project is not moderated. The chances of new investor to become interested on NFT investment is very low right now considering how unprofitable all the existing NFT available in the market. There's a lot of NFT project that has same idea which is a sign that the Market is already stagnant and no improvement since there's no improvement on the technology. I believe that NFT hype is slowly dying but not over.

[zonefloor]

it was time for the demand for nft to decline. I don't understand why people invest in NFT, in what way and for what purpose. Most people didn't pay 3 5 dollars like that. There were those who bought NFT for thousands of dollars. I really feel sad when this money is given to them. I hope the nft industry goes away from cryptocurrency. It was starting to get really messy.

[MFahad]

NFT arts is still in its hype phase when you see some ordinary looking images sell for millions of dollars. Have you read about the women with long necks drawn by a 13-year old? She became a multi-millionaire because of that.

That viral video of Aftican men dancing while carrying a coffin on their shoulders was also sold for a million dollar.

If we do comparisons of NFt trading with previous years than offcourse voulme is now low then before but at the same time some NFTs are sold for very high price. Some NFTs are bought by owners itself from other wallet just to make Hype and some are real. Those NFt project which has strong Use case and profitable in future is only I think will remain for long time like Moonsuma,StepN and many other projects.

[JeffBrad12]

The volume is dropping a lot due to the market trend. Im not seeing any other thing that was triggering the volume to go down. Remember that if NFT was illiquid unlike that token or coin which are liquid. People are prefer to saving their assets instead of trade it for the NFT which was illiquid asset.
I have been trying to check several NFT on opensea and the price floor still remain the same but only less activities that happened with it. So, once market will be entering into the bullish trend again and the activity of NFT trading will be increasing as well.
In my opinion that if NFT hype is not yet over. This time there are also NFT combined with PTE, metaverse and Web 3 just like stepn. The hype can come anytime but taking a conclusion for the hype for NFT already ended is not right at this moment

[dansus021]

Excellent survey and a great discussion to ponder. However, we know that Bitcoin is the direct influencer of the entire market because when it's high Ethereum, Binance, Solana, Avalanche, Polygon and Fantom, that is, the main ones in the NFT segment, it increases according to the Bitcoin Hype. In my opinion, the NFT market is embryonic and has not yet shown its potential and variations.

It's too early to define the failure of this segment.

Aggreed btc is always become the main reason 

But i do believe NFT is not over yet because the hype of metaverse project still hot till date and you guys know that metaverse and play to earn game is cant be separated

[Strongkored]

The hype will definitely end because if it lasts long then it's not hype. The volume decrease on opensea maybe because the investors are more selective in choosing which NFT's they choose to own because investors have started to realize so many NFT's that appear don't have any features that can increase their value in the future like what happened in trend before like ICO's that many appeared but had no future at all

[uneng]

Most recent hype started was metaverse, and somehow it mixes well with NFTs in some cases, so i think they aren't over yet. There is still something else to milk from NFT hype by speculators and it won't be finished until we hear about a new trend appearing in crypto environment (so far it hasn't happened). What will define the increasement of the search for NFTs and market volume is a consistent bullish season that we don't know exactly when it's going to begin for real. Meanwhile, we will continue seeing the market very stagnant or depreciative, consequently affecting NFTs negatively, although it doesn't mean the hype ceased.

[S3300]

Not really, every crypto project hypes will fade away once a bearish market is alive I think thats the case here, the most talked-about crypto projects are still NFT and Metaverse so they still have some shots left, I'm considering investing in a NFT project I just can't figure out which.

[CapGelatik]

it was time for the demand for nft to decline. I don't understand why people invest in NFT, in what way and for what purpose. Most people didn't pay 3 5 dollars like that. There were those who bought NFT for thousands of dollars. I really feel sad when this money is given to them. I hope the nft industry goes away from cryptocurrency. It was starting to get really messy.

I don't actually follow NFT that much and I think there are a lot of people who make a profit from NFT,
expensive or not NFT of course depends on the value of the art and maybe only someone who knows who collects art,
apart from that we will see if this industry will continue to survive in crypto or will it move away