this post was submitted on 09 Jul 2023
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Are they not already mostly there with crypto? Since Bitcoin tanked a while back blockchain definitely isn't as hot as it used to be.
Bitcoin dropped in value, but is still very high and actively traded. It's hardly in the dust bin.
Crypto? no. NFTs? yeah pretty much.
Bored Apes have dropped around 3/4 of their value over the past year. They're still worth over $60,000, but anyone that bought them, or any other NFT, over the past year has taken a massive hit.
The real question is whether NFT prices will cycle with bitcoin when crypto prices spike back up or not. Crypto has always had crazy peaks and dumps, and that pattern will probably continue, but I think NFTs are just going to go to zero. There's no real reason for crypto, so speculating on a thing that has no value that's based on a thing that has no value is real dumb.