Is NFT's hype over?

[akuntester1]

I don't think the NFT hype is over, it's just a temporary drop, although sales in the NFT market have been down consecutively for the past few months probably due to the influence of the downturn in the market.
Currently, NFT is still being looked at by creative economy players to protect their products and turn them into digital assets.
And now, there are also many people who are interested in NFT games, many game developers are still competing to develop games with the NFT system.

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[blockman]

I don't think the hype for nft is over, but looking at the current market conditions, nft doesn't go up like they started, but the sales volume is still fine.

That actually makes sense, I honestly think it's over because the ones that I hold have not that much value anymore. There's a price and little value but unlike during the hype of it, they're like from hundreds to thousands and now it's like one single digit of its price.
The sales are still good but it's way too low from the hype that it has before and basically that makes everyone who's disappointed about it to say that it's already over. The next trend might come soon and it will be surpassing the trend that the NFTs have made.
I doubt it that the NFTs could be back to its former hype because that's usually what comes around to the crypto market. When it ends, another one rises and emerges.

[Wakate]

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Maybe the NFT hype isn't over yet but it's hard to be sure of that, because anything related to NFT has fallen in price and volume, many NFT investors have already suffered high losses due to the influence of the hype, but even if the NFT hype returns but won't get support from the crypto community because high risk of loss and it is better to choose to invest in top coins.

Even though NFT market is full of hype,. We all know that everything about the crypto market is majorly hype and the ability of the team to support the project with funds that will make interested investors to jump on the project and invest to keep the momentum high. Although NFT market is just growing and we need to understand that the market will surely get to a level where more investors will jump into it because everyone is looking for how to double their capital so that more profits will increase there worth. I expect the NFT market to keep growing even when making still think it's based on hype.

[Abiky]

NFT will never be over. Its market may drop in times like this bearish season but it won't last long. There are more metaverse projects starting to develop and in the next few years, this will become the next big thing in crypto. From Bitcoin to Bitcoin+altcoins then comes Bitcoin+altcoins+NFTs and then the next will be with metaverse. NFTs will become a huge part of these metaverses.

I am looking at some of the next good projects with potential and many of them are connected to NFTs and metaverse. Lifeform, for example, the creator of HALO NFTs worked with Binance Labs and will launch its product for public minting of NFTs that are applicable to the metaverse.

NFTs are still a thing, even though crypto market prices have been "dipping" like crazy. I'd say demand for NFTs has declined. But the hype is far from over. Major companies are getting into the game, so it would be best to buy and "hodl" prominent NFTs to increase your chances of becoming rich in the future. You're going to have to do your own research to determine which NFTs are suitable for your investment, though.

I believe in-game items and digital real estate will be the ones that will gain the most value over time. The Metaverse is just the tip of the iceberg as the best is yet to come. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about. Just my opinion

[burugcrypto]

Yes. People realised buying JPG images doesn’t really fetch any value for them. People are more concerned about utility of a NFT project. If utility is not present, people won't buy. Utility matters

[Moshi Moshi]

NFT is not ending but is on pause, I believe the price of NFT will rise again in the next bullish season,
because it is currently bearish season, so it is natural for NFT coins or NFTs to fall, because indeed this is the effect of the bearish season itself.

[la.ya]

I can only give you a hint by using the name of the project - NeonLink. Then try to figure it out yourself. I am sure that you have not been banned from Google and you will succeed.

[konflikkastil]

In my own humble opinion I believe the NFT was over hype in the first place. It came and boom one would have been thinking the boom of it is going to last for a while. There are some factors that I think affected the NFT crypto market. Just few days ago, I read about a particular celebrity in the united state who NFT bored Ape for $1.3 million and just 18 months after. The price of the Bored Ape has reduced to $53,000, loosing about $1.2 million. That was a huge loss and a great decline.

[siedemtrzy]

In my own humble opinion I believe the NFT was over hype in the first place. It came and boom one would have been thinking the boom of it is going to last for a while. There are some factors that I think affected the NFT crypto market. Just few days ago, I read about a particular celebrity in the united state who NFT bored Ape for $1.3 million and just 18 months after. The price of the Bored Ape has reduced to $53,000, loosing about $1.2 million. That was a huge loss and a great decline.

Almost every day news about losses in NFT space are popping out. And that's the funniest shit I've seen in a while. Just when it became hype I knew sooner or later it will happen.

[Abiky]

Yes. People realised buying JPG images doesn’t really fetch any value for them. People are more concerned about utility of a NFT project. If utility is not present, people won't buy. Utility matters

I'd tell you the vast majority of NFTs are pure speculation. Only a small portion of them are useful. We still have foolish investors who buy NFTs based on pictures easily found across the web. This tell us the industry is not mature enough in the mainstream world. Over time, everyone will realize it's not worth buying something that doesn't add any real value/utility to the world.

I think what will ultimately survive is in-game items. In other words, NFTs that serve as digital items on a game. Digital art may also thrive, but that depends if the art itself has some sort of originality. If it's something that was already circulating across the Internet, it won't be going anywhere soon. I'd proceed with caution, especially when the hype isn't over yet. As long as you don't spend more than what you can't afford to lose, there should be nothing to worry about. Just my thoughts

[jacafbiz]

Nope, this is just the beginning, but this is the end of these useless JPEGs they called NFTs, in the coming year I expect us to see the true direction that NFTs will take, the interest is there, and the market is huge but not in the present form we have it. I saw some of the recent hypes JPEGs in the past and I asked myself after losing more than 80% of their value, real NFTs can't be in this form. The brains are there to make it work, but greed is also another thing that is killing innovations in the space some of these developers are rich and greedy, they stopped working on improving their platform and adding value to these NFTs also most of these projects are just copy and paste

[nyashenka]

I do not see that NFT hype is over. During the NFT hype NFT was most lost for speculations. People only bought NFT to see them for bigger price and make money on speculation. But the market falled and the price of NFT falled too. To have any stable price or grow in price NFT must be useful. It must be able to use not only in speculations.

Not all people win in speculations. Most people lose their money at all. And it is necessary to remember it.

[woez]

I don't think the NFT hype is over, it's just a temporary drop, although sales in the NFT market have been down consecutively for the past few months probably due to the influence of the downturn in the market.

It's not all. but many are already a bit hesitant to invest in this NFT world. one of them, if you look at the price of Justin Bieber's Bored Ape NFT, which used to be just right with the hype, he bought the NFT for $ 1.3 million in January 2022 and now its value is only $ 59,090, a drastic drop in price.

[Abiky]

Nope, this is just the beginning, but this is the end of these useless JPEGs they called NFTs, in the coming year I expect us to see the true direction that NFTs will take, the interest is there, and the market is huge but not in the present form we have it. I saw some of the recent hypes JPEGs in the past and I asked myself after losing more than 80% of their value, real NFTs can't be in this form. The brains are there to make it work, but greed is also another thing that is killing innovations in the space some of these developers are rich and greedy, they stopped working on improving their platform and adding value to these NFTs also most of these projects are just copy and paste

Couldn't agree more with you, mate. This is just the beginning of a long journey for the NFTs space. I'm glad things are improving, as we get past plain-old pictures (JPEGs) disguised as the next big thing in the crypto/Blockchain space. There re far more to NFTs "than meets the eye". With Bitcoin Ordinals, Bitcoin Stamps, and even Soulbound Tokens (a type of NFT), things will only get better in the long run.

All we need is quality content creators that are willing to make NFTs desirable and useful for the masses. Some renowned companies have already joined the game. One thing for sure is that both Ethereum (ETH) and Polygon (MATIC) are the leading platforms for NFTs. It should only be a matter of time before they "explode" in price. The question is: Are you buying and holding NFTs? Just my two sats.

[bakasabo]

I do not see that NFT hype is over. During the NFT hype NFT was most lost for speculations. People only bought NFT to see them for bigger price and make money on speculation. But the market falled and the price of NFT falled too. To have any stable price or grow in price NFT must be useful. It must be able to use not only in speculations.

Not all people win in speculations. Most people lose their money at all. And it is necessary to remember it.

I have different vision. I think that NFT hype is over. Like every hype in crypto industry - it lasts for a year, maybe a bit longer maximum. Why do you think that hype isnt over? I see no loud articles in media about NFT, I see no scandals or scams connected with NFTs. People tried to restart NFT hype, when we had news that NFT now are on Bitcoin blockchain. This fact indeed worried a lot of people, as it made blockchain transactions cost more, but right now, one or two month has already passed and only few people remember about it.

The problem of NFTs was that it is easy to buy it, but it is hard to find a buyer. Now people have bought NFTs, and dont know how to sell it. They froze their money and have to wait and observe how values of their NFT go down (and yes, NFT prices went down heavily) or how inflation slowly kills their investment.

[Magic-Money]

The cryptocurrency market is really down in price and Bitcoin is the father of all alt-coins, like wise Non Fungible Token's (NFTs), The hype in the cryptocurrency market has reduced and many people that not understand cryptocurrency business has lost money as panic selling, come to NFTs hype is over for now, while waiting for Bull Run, all cryptocurrency market we boom. and NFTs will be hype as before and is good time to invest more that has a strong communities and future potential.

[Victorik]

I guess people are beginning to get tired of the hype around NFTs. For the records, I was never a fan of NFT and have never minted any NFT. I don't see any future in it and that's my opinion, not speaking for everyone.

I am sure people have stopped believing in it.

[raidarksword]

Hype is over but only it settled down, not yet dead though because there are still active NFT projects out there and few enthusiast remains in the market. Everything has it's own cycle and the over hype of NFTs was back on 2021 but sad to say prices were going down due to bad and bear market as well. It might have chance to hype it back but no one really knows when it will be.

[o48o]

I have different vision. I think that NFT hype is over. Like every hype in crypto industry - it lasts for a year, maybe a bit longer maximum. Why do you think that hype isnt over? I see no loud articles in media about NFT, I see no scandals or scams connected with NFTs. People tried to restart NFT hype, when we had news that NFT now are on Bitcoin blockchain. This fact indeed worried a lot of people, as it made blockchain transactions cost more, but right now, one or two month has already passed and only few people remember about it.

The problem of NFTs was that it is easy to buy it, but it is hard to find a buyer. Now people have bought NFTs, and dont know how to sell it. They froze their money and have to wait and observe how values of their NFT go down (and yes, NFT prices went down heavily) or how inflation slowly kills their investment.

But do you see the hype coming back with the bullmarket? BAYC floor price is resting in a good support imho if someone believes that you can do TA on that.

Lack of liquidity is problematic for someone like me who likes to exit fast if necessary. But it isn't issue for actual collectors. When collectors IRL store actual physical stuff, they are not planning to flip it instantly, they wait for the right moment and right buyer. And they even have to store their goods physically, sometimes for years until right buyer comes along. So i see something like reddit NTF collectables as an actual investment.

I don't own any nfts at the moment but i've been looking for some good ones to get into. Prices start to get where i want them to.

[Oasisman]

Hype is over but only it settled down, not yet dead though because there are still active NFT projects out there and few enthusiast remains in the market. Everything has it's own cycle and the over hype of NFTs was back on 2021 but sad to say prices were going down due to bad and bear market as well. It might have chance to hype it back but no one really knows when it will be.

Chance to hype it back? I dont think so, after it was exposed that these NFTs especially the digital artwork doesn't really have that much value like the whales and celebrities were hyping up before. Remember the bored ape NFTs, those were some overhyped stuff sold by hundreds or even millions of dollars for some of the other NFT artworks during the introduction of the NFTs in the market.
Again, I don't see it coming back up. But I do agree there are still NFT based projects that are still in business today.