There was a time when major companies were launching NFTs. Mainstream media coverage. Sold by top auction houses. All kinds of contrived “use cases”.
Now it’s an irrelevant asset with bagholders who are not getting their money back. I think it’s a microcosm of how BTC is going to fail.
The critical mass of gamblers (who have short attention spans and cannot delay gratification) will get distracted by a new fast-money trend. Already happening with AI and SPCX.
BTC just fades into irrelevance because people lose interest. No interest means no greater fools. BTC cannot survive without greater fools. It won’t suddenly go to zero though.
https://www.reddit.com/r/Buttcoin/comments/1u870td/nfts_have_already_shown_how_btc_will_fail/
h/t interstellar_nips