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  2. What is the main reason why NFTs are no longer trendy?...

What is the main reason why NFTs are no longer trendy? Your opinion

Anna Erst
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2021 was the year when everyone was talking about NFTs, whether it was criticism or admiration for this phenomenon. If we were to point out the top 3 reasons why the trend has come to an end, what would they be?

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Richard Gao
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I think it was much like the crypto boom. The tech garnered much interest but there was more supply than demand. Those looking to mint NFTs themselves were a dime a dozen, but those actually choosing to buy such an investment were rare. It was similar to how there was a wave of "noun"-coin when during the crypto boom. Secondly, the poor public reception never died down despite the interest. Mostly it was concerns about the environment, but people in general just didn't like the concept of paying for an image they could copy and paste (they didn't understand how NFTs worked). Furthermore, I'm not even sure if they became much less trendy. They might just be less trendy in terms of getting media reception, but they might be building up popularity in the background. Overall, I think it was a combination of too much supply and not enough demand combined with poor public reception.
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Anna Erst
@richard_gao2 These are all good points, I agree. It's really hard for many to understand the concept of buying digital art when you can just take a screenshot or save it. Also, I think the artists themselves were also frustrated that someone could just post your art as an NFT and you would never know who it was.
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