NFT is indeed an easy way to market art, I read in the news that the street painter community in my city previously had difficulty selling their works and with NFT the sales of their works increased rapidly and they were even able to sell several times higher from the original price. At first they had difficulty accessing the marketplace, creating a crypto wallet and uploading their work, but as time has passed, they have become proficient. with NFT really changing the way they make money in a positive sense.
It's a Ponzi, and the value holds as long as the narrative behind NFTs also holds. Remove the possibilty of "easy money", do you believe the street artist would sell his work at inflated prices? I feel sorry for the last person who bought it at ATH with no willing buyer. Who would he/she feel losing his/her money? Scammed.
I could understand this market if people were actually buying NFTs because they wanted to collect them and keep them, so even if NFTs ended up being worthless at least they could have fulfilled their objective, but people are buying NFTs to resell them for a higher value, something that is incredibly difficult to do when the market is now filled with NFTs and their number does anything but grow, creating an even bigger supply when the demand is not growing a the same rate.
