Does NFTs still have relevance in the Crypto Space?

[Maxicreed]

Stats from last year's Coingecko market report reveal a decline in NFT adoption compared to fungible tokens and the 2022 trading volume. This prompts consideration for aggressive investments in the sector. Noteworthy NFT-integrated projects like Mavia and the recent Animalia, an online NFT trading card game, have emerged showing a glimpse of prospect for NFT-related crypto projects.
https://www.coingecko.com/research/publications/2023-annual-crypto-report

As a non-gamer navigating the unpredictable crypto space, the drop in last year's NFT trading volume to 11.8 billion, in contrast to 2022's 26.3 billion, raises concerns. However, closely monitoring these NFT-related projects could prove rewarding if a different scenario unfolds this year.

The question lingers: Will this year bring a shift, or are there indices signaling a potential bullish sentiment for NFTs and their related projects?

[Carbitcoin]

Stats from last year's Coingecko market report reveal a decline in NFT adoption compared to fungible tokens and the 2022 trading volume. This prompts consideration for aggressive investments in the sector. Noteworthy NFT-integrated projects like Mavia and the recent Animalia, an online NFT trading card game, have emerged.
https://www.coingecko.com/research/publications/2023-annual-crypto-report

As a non-gamer navigating the unpredictable crypto space, the drop in last year's NFT trading volume to 11.8 billion, in contrast to 2022's 26.3 billion, raises concerns. However, closely monitoring these NFT-related projects could prove rewarding if a different scenario unfolds this year.

The question lingers: Will this year bring a shift, or are there indices signaling a potential bullish sentiment for NFTs and their related projects?

The price of tokens, like other market assets, is determined by supply and demand. These tokens are rare and sought after by players, collectors and investors who are willing to pay for them.  We live in the era of collectibles, so these tokens continue to gain popularity. So don't be scared or disappointed. The main thing is to find the right choice.

[Gurujebs]

The question lingers: Will this year bring a shift, or are there indices signaling a potential bullish sentiment for NFTs and their related projects?

Look into these lists of NFTS sold for millions, Beeple was sold for $69 million, that created a lot of controversies around NFT, so many people believe that those sales were done purposely for money laundering. Today, many of these NFTS are now worthless because people are not bothered to buy it again and that's because there is no demand again.

The New NFTs are the ones coming from new developers, probably from new trend, that's why we are seeing there volume increased but we know during the bear market, nobody asked for them again and the become valueless.

[MrSpasybo]

Stats from last year's Coingecko market report reveal a decline in NFT adoption compared to fungible tokens and the 2022 trading volume. This prompts consideration for aggressive investments in the sector. Noteworthy NFT-integrated projects like Mavia and the recent Animalia, an online NFT trading card game, have emerged.
https://www.coingecko.com/research/publications/2023-annual-crypto-report

As a non-gamer navigating the unpredictable crypto space, the drop in last year's NFT trading volume to 11.8 billion, in contrast to 2022's 26.3 billion, raises concerns. However, closely monitoring these NFT-related projects could prove rewarding if a different scenario unfolds this year.

The question lingers: Will this year bring a shift, or are there indices signaling a potential bullish sentiment for NFTs and their related projects?

2022 was downtrend but the first half of 2022 was still a very hot time for GameFi and MoveFi, NFT trading volume was still very large. Then, from mid-2022 to mid-2023, we saw a decline in NFT trading volume because the tokens of those projects lost value so quickly, NFTs did not receive significant attention. The end of 2023 was the period when NFT returns to Inscription on Bitcoin and many other blockchains.

At this time, the market is preparing to enter a new cycle, NFTs are an important part of the market, they play an irreplaceable role in GameFi and RWA, so I believe that the NFT trend will return soon and attract attention and cash flow from investors. I predict that NFT trading volume in 2024 will surpass that in 2022.

[Mr. Magkaisa]

        -   For me, yes, because they still hold the potential that they have in the crypto market. And of course, it also depends on the ability that the NFT has, because there are also other NFTs that offer a unique approach to the value proposition behind digital art speculation, as far as I know.

There are also others, like NFTs, that are more evolved because of the technologies and use cases that they also have. Apart from this, they are also addressing concerns about regulation and scalability.

[vegasus]

In my opinion, definitely still. There is no way NFT investors will allow this. And what's more, most NFT investors may also be Crypto investors. It's just that maybe it's not the time yet, especially now that there is a lot of preparation for the Bitcoin halving and several big cases related to the SEC.

We'll just see how it goes. But it is certain that only certain NFTs are able to survive and will reappear on the surface in the future. Like altcoins which change over time and are simply forgotten. But for the relevance itself, it doesn't close the probability. It is related each other.

[Maxicreed]

Stats from last year's Coingecko market report reveal a decline in NFT adoption compared to fungible tokens and the 2022 trading volume. This prompts consideration for aggressive investments in the sector. Noteworthy NFT-integrated projects like Mavia and the recent Animalia, an online NFT trading card game, have emerged.
https://www.coingecko.com/research/publications/2023-annual-crypto-report

As a non-gamer navigating the unpredictable crypto space, the drop in last year's NFT trading volume to 11.8 billion, in contrast to 2022's 26.3 billion, raises concerns. However, closely monitoring these NFT-related projects could prove rewarding if a different scenario unfolds this year.

The question lingers: Will this year bring a shift, or are there indices signaling a potential bullish sentiment for NFTs and their related projects?

The price of tokens, like other market assets, is determined by supply and demand. These tokens are rare and sought after by players, collectors and investors who are willing to pay for them.  We live in the era of collectibles, so these tokens continue to gain popularity. So don't be scared or disappointed. The main thing is to find the right choice.

I am actually not scared or disappointed but trying to be careful. I was a beneficiary of STEPN NFT in the last bull circle and would like to consider some of these new NFT related project once more and your insight has been valuable. You may also wanna check this Animalia and share more insight since it's also NFT related project.

Btw I would like to have a legendary badge like you haha.

[Kizozo]

In my opinion, definitely still. There is no way NFT investors will allow this. And what's more, most NFT investors may also be Crypto investors. It's just that maybe it's not the time yet, especially now that there is a lot of preparation for the Bitcoin halving and several big cases related to the SEC.

We'll just see how it goes. But it is certain that only certain NFTs are able to survive and will reappear on the surface in the future. Like altcoins which change over time and are simply forgotten. But for the relevance itself, it doesn't close the probability. It is related each other.

I think I agree with you, some top NFTs projects like ASX and MANA are already back and gaining traction.MAVIA and PIXEL are relatively new projects that have also gained massive adoption and Animalia $ANIM is another one poised to give surprises. Not all NFTs projects will gained that much in this next cycle because investors are really keen on AI projects but some really good ones like ANIM a free to play F2P that allows players have complete ownership of in-games collectibles is already gaining massive attention and adoption and the native token has found its way to top exchanges like Bitget.

[bitmover]

The question lingers: Will this year bring a shift, or are there indices signaling a potential bullish sentiment for NFTs and their related projects?

NFT are here to stay. NFT exists even before that name exist.
Do you remember cryptokitties? They were the first NFT, AFAIK, in 2017.

The potential is huge, specially in games and arts.

[therozaq]

The price of tokens, like other market assets, is determined by supply and demand. These tokens are rare and sought after by players, collectors and investors who are willing to pay for them.  We live in the era of collectibles, so these tokens continue to gain popularity. So don't be scared or disappointed. The main thing is to find the right choice.

You are right, price always depends on demand and supply.  If demand increases and the supply of NFTs remains constant, I think the price of NFTs will increase.  But it seems like the sentiment for buying NFTs isn't what it used to be.  Every year there will be changes in the number of people interested in a project.  That's why I prefer old coins, especially top coins, which are safer for investment.

[retreat]

You can see on CMC, to this day there are still many traders who buy and sell NFT tokens, which means that NFT tokens are still relevant for crypto traders, especially people who are interested in digital art. But discussing how long this trend will last, I don't know, because I can't predict how long people will get sick of trading these NFT tokens, or maybe it won't happen.

[yhiaali3]

NFTs, like everything else in crypto, are affected by the bearish market and the bullish market. In the past period, the bearish trend affected everyone, including NFTs, but now that we are in the bullish market, I certainly expect NFTs and related projects to witness an upward trend.

For me, I am focusing in particular on Ordinals NFTs that have recently appeared on the Bitcoin network and have gained great momentum and a strong upward trend. I expect now with the start of BullRun that these projects will move strongly and grow very quickly.

[Zed0X]

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As a non-gamer navigating the unpredictable crypto space, the drop in last year's NFT trading volume to 11.8 billion, in contrast to 2022's 26.3 billion, raises concerns. However, closely monitoring these NFT-related projects could prove rewarding if a different scenario unfolds this year.

This is what risk-takers love to hear. Buy when there is fear in the market right? Non-gamers will only FOMO when volume has increased and it could be too late by that time. Of course, the opposite could also happen but remember the phase that we are in (halving).

[Aanuoluwatofunmi]

There's no more high relevance placed on NFTs in the crypto markets because of the ever increasing rate of scams people have seen and many couldn't afford to bear such any longer in continuing with NFTs, scam has been affecting many people in various ways, this has made them find it more difficult in trusting the new projects coming because they are mostly not reliable for an investment.

[iamcryptic]

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As a non-gamer navigating the unpredictable crypto space, the drop in last year's NFT trading volume to 11.8 billion, in contrast to 2022's 26.3 billion, raises concerns. However, closely monitoring these NFT-related projects could prove rewarding if a different scenario unfolds this year.

This is what risk-takers love to hear. Buy when there is fear in the market right? Non-gamers will only FOMO when volume has increased and it could be too late by that time. Of course, the opposite could also happen but remember the phase that we are in (halving).

Same thing I told my friend when BTC was around 27k. People predicted it'll go lower, I told him to DCA and buy when others are scared, rn btc is around 59k. I predict same would happen for gaming, AI, RWA tokens this bull run. Thankfully, I'm positioned in some gaming tokens like MAVIA, ANIM and AI tokens like SORA, IQ thanks to platforms like Bitget for swiftly listing tokens before they go mainstream .