HN Explorer

Ask HN: Is the NFT Craze Over?

5 points by d--b ↗ HN
Looking at volumes here, it seems that sales are going down siginificantly, or am I reading this wrong?

https://www.theblockcrypto.com/data/nft-non-fungible-tokens/nft-overview

6 comments

[ 2.7 ms ] story [ 27.9 ms ] thread
mudrockbestgirl
Everything is down. Stocks, crypto, NFTs. NFT volume (most of which was wash trading anyway) has been on the decline significantly over the past few weeks and months. That doesn't necessarily mean the craze is over, but I think it's likely that the craze of the past wave of NFTs, which are celebrities promoting JPEGs and rug-pulling them, is over. The market has had enough of them after realizing 99% are scams.

I don't think the overall NFT craze is over though. Many blockchain projects rely on NFTs of one type or another. They just won't be the typical celebrity-backed NFTs.

tanganian
Scams aren't supposed to last long, no surprise.
SMAAART
The "craze" is over, but NFT(s) are here to stay.
nicbou
The blockchains perhaps, but the servers hosting the data are not
anon2020dot00
Probably not, I haven't bought a picture of a monkey yet.