NFT took the digital world by storm but not in that way… one major thing that killed NFT was the hype. The NFT hype was just excess that people started noticing it was overhyped. Check the average NFT, At least for the ones I’ve been seeing, their values are dropping because it’s time has gone (the hype is dead). I think it should have slowly enter the market instead of storming in with all that noise. I know artistes and public figure who jumped into create their NFTs. Some of them already closed down their NFT store.
What killed NFT is a lot of scam NFT offering which died down after sometimes. Even look at the top NFT project which was overpriced and now it loses value like crazy. The technology NFT is offering can be used in very unique way but we need a unique mind to add more value to it. But instead what most of the NFT project do is to promote it as a money making machine. I saw a digital picture sold for millions of dollars that has no usecase at all. Because of all this, investors turned away from NFT.
What you said would have been perfect except the first sentence ruined it. There’s always scam in everything. There’s always that down side that try to bring that thing down. So, a lot of scam NFT offering didn’t kill NFTs, what killed it was too much hype. They make it feel like it’s worth buying a piece of digital art for a lot of dollars, but can’t show you the value or make it feel really special. NFT was presented like it’s just a way to make millions, forgetting that people are seeing this motive and with this they can change their mind from buying or investing in NFTs.
