TL;DR: The NFT market has drastically declined since its peak in 2021, with most NFT collections having no value. There’s an oversupply of NFTs, leading to a buyer’s market, and environmental concerns due to energy consumption. Top NFTs also struggle to maintain value, and the future of NFTs depends on utility and genuine value rather than speculation.
No kidding. Hey I’ve got a great idea for a new marketplace, BeaNFT. You can waste your money but get an upcycled Beanie Baby in the process.