TL;DR: The NFT market has drastically declined since its peak in 2021, with most NFT collections having no value. There’s an oversupply of NFTs, leading to a buyer’s market, and environmental concerns due to energy consumption. Top NFTs also struggle to maintain value, and the future of NFTs depends on utility and genuine value rather than speculation.

  • Tulip mania speculated on the unknown future outcome of a tulip bulb.

    How are NFTs anything like that? You can clearly see (and copy) the content of NFTs, it’s literally the opposite of tulips.