No other thing in crypto has seen such a gloom as NFTs and largely due to the market situations but no lesser due to the non-visionary approach towards them. There could be many more reasons for their fall but we can be hopeful when the markets erupt from doom. So, Will NFTs (Non-Fungible Tokens) see a re-rise on the horizon once the bull run takes over the market?
Considering the rebirth of NFTs in the next bull run, the once touted as expressway of Non-fungible tokens or NFTs have now reached a dead end point. Many of us may believe that at best bull run may fuel some much needed life into the NFT space. But as of now, the renaissance of NFTs just seem a pipe dream.
The frenzy, the boring, the cute, the doodling, all gritty-witty adjectives applied are no more relevant. The reality has once again been established over the deceptive funology of images. The worthless geekiness of NFTs once rode high, exploded like a nuclear bomb and now left with devastation all around. Well the NFT bubble is well and truly pi**ed off.
What has gone wrong for NFTs after they had been at the zenith in last bull market, remains obscure. However, the downturn in overall crypto market is often seen as one reason for their fall. Their fall has left most of the crypto fraternity in shreds but we can see their rise if.....
- The gaming industry applies NFTs in a way so as to make them intangible and compulsory assets.
- The developers of top Blockchains consider them significant and make them a part of the eco system. They have already accepted meme coins and they are as funny as NFTs are. So, accepting NFTs may not be a bad idea.
- Create a better vision for NFTs. May be, we can create a blockchain that accepts NFTs and put a fixed value like stablecoins.
Also specify your reasoning in the comments whether the NFTs will survive the bear market and rise again in the Bull Run.
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Disclaimer: Nothing in this post should be regarded as investment advice. These are solely my personal views. Readers are advised to do their own research before making a financial investment.
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