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News
NFTs aren’t dead — they’re just resting
The market for nonfungible tokens (NFTs) might be struggling during this "NFT Winter," but there are signs of life if you know where to look.
Headlines predicting the death of Bitcoin are nothing new. Over the past decade, we’ve seen every permutation of why “Bitcoin is dead” imaginable, yet the current crypto winter has brought very few of these dire proclamations.
It seems a little different this time. Maybe it’s hard to pen such a eulogy with Bitcoin (BTC) hovering around $28,000, and a spot Bitcoin ETF on the horizon. Doesn’t seem like Ethereum’s dead either.
But the blockchain industry and its commentators still need a corpse to poke at, and that’s what they’ve found with the putrid cadaver that is the nonfungible token market
NFTs are dead. Deceased. Lifeless. NFTs are the “Norwegian Blue” from Monty Python’s Dead Parrot Sketch. And the grave dancing has commenced; to quote a recent Rolling Stone headline, “Your NFTs are actually — finally — totally worthless.”
Rolling Stone is right — most NFTs are indeed utterly worthless.
Yet that should not be surprising to anyone who’s been in crypto for a few cycles. Most of the ICO tokens from the 2017 bull market vintage were dead by the 2018/19 winter. Likewise, the countless DeFi protocol tokens post-DeFi-summer of 2020.
Today, more than 1.8 million tokens have an aggregate market cap of a little more than $1 trillion. But the top 10 largest protocols and tokens account for over 93% of the total.
Do the math. That’s a long, long tail of worthless zombie coins. The vast majority of all tokens die. So why should NFTs be any different?
The barrier to entry to create an NFT project in the hope of striking it rich was (and remains) low. Anyone can, and seemingly did, create an NFT collection in a few minutes with a few keystrokes.
So what happened when a frenzy of trading activity and money flooded into this new corner of the crypto market in mid-2021? The free market responded exactly how it was supposed to: it provided supply. And supply ≠ quality, especially in this industry.
We’ve seen the same cycle again and again, this just happens to be the first real NFT winter.
A-listers have quietly taken their NFT Twitter avatars down. Jimmy Fallon isn’t shilling apes with Paris Hilton on late-night TV. Ashton Kutcher’s Stoner Cats has settled with the Securities and Exchange Commission (SEC). A collective sense of embarrassment abounds.
NFT trading volumes have collapsed, from around $1 billion a week in mid-2021 to early-2022, to sub-$100 million today.
NFT trading volume by chain. Source: CryptoSlamIt’s bleak. But, as I said back in October 2021 about NFTs, “Peaks and troughs are nothing new, it's what emerges from them which is what's worth paying attention to.”
For those curious and open-minded enough to look beneath the surface of the “NFTs are dead” generalization prevalent today, there are signs of life amidst the rubble.
In September, news emerged that PayPal filed a patent application in March surrounding an NFT purchase-and-transfer system.
Pudgy Penguins continues to expand into physical toys, first selling on Amazon in March and recently expanding to 2,000 Walmart stores across the U.S. (Disclaimer: I own a fat penguin jpeg.)
Doodles have collaborated with casual footwear brand Crocs in a similar effort to merge the physical and digital, with a likewise similar collaboration between Gary Vee’s Veefriends and Reebok.
At a concert over the summer, Harry Styles fans could download an app featuring a self-custodial digital wallet for future NFT rewards. Meanwhile, Justin Bieber is collaborating with a blockchain music platform to turn a song into an NFT with royalty streams to the NFT holders.
The top auction houses continue to bring mainstream artists into the NFT world, Keith Haring with Christies for example, and Sotheby’s partnering with Ledger to offer a co-branded Ledger Nano X (hardware wallet) for buyers of premier digital art.
If you keep looking you’ll find more and more signs of life, because NFTs are not “dead.”
The fundamental technological primitive of what NFTs are and what they offer will not “die,” any more than blockchain will “die.” They will simply continue to evolve while the weak hands, weak teams, scams, copycats, and fast money fade into history, another footnote from another crypto cycle.
As we transition from this NFT winter into a new season, expect to see NFT projects that are more sophisticated and commercially viable, enriching the ecosystem in new and meaningful ways.
Tama Churchouse is the COO of Cumberland Labs, an early-stage Web3 incubator, and a founder of Digitali, a community-driven NFT Wiki that serves as a comprehensive database for NFT collections.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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14.10.25 08:46
robertalfred175
CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1
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15.10.25 18:07
crypto
Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.
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15.10.25 21:52
harristhomas7376
"In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1
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15.10.25 21:52
harristhomas7376
"In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1
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