{"id":229076,"date":"2024-04-28T11:00:28","date_gmt":"2024-04-28T11:00:28","guid":{"rendered":"https:\/\/www.techopedia.com\/?p=229076"},"modified":"2024-04-28T11:00:34","modified_gmt":"2024-04-28T11:00:34","slug":"how-the-death-knell-for-nfts-may-have-been-premature","status":"publish","type":"post","link":"https:\/\/www.techopedia.com\/are-nfts-dead","title":{"rendered":"How the Death Knell for NFTs May Have Been Premature"},"content":{"rendered":"<p><a href=\"https:\/\/www.techopedia.com\/definition\/34529\/non-fungible-token-nft\">Non-fungible tokens<\/a> (NFTs) were declared dead \u2014 at least on life-support \u2014 after the crypto market cooled down from the height of the hype cycle.<\/p>\n<p>At its peak, NFTs in the form of digital art and collections sold for tens of millions of dollars, and yet as crypto winter set in, a study in September 2023 by crypto research group dappGambl found that <a href=\"https:\/\/dappgambl.com\/nfts\/dead-nfts\/\" target=\"_blank\">95% of NFTs were all but worthless<\/a>.<\/p>\n<p>But, as the use of <a href=\"https:\/\/www.techopedia.com\/definition\/30246\/blockchain\">blockchain<\/a> technology continues to expand, businesses are adopting NFTs in different ways that show signs of maturity in the space.<\/p>\n<p>We speak to experts in blockchain to see the green shoots of life in a technology that still has much to offer the world \u2014 in unexpected ways.<\/p>\n<div class=\"su-note\"  style=\"border-color:#dddddd;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\"><div class=\"su-note-inner su-u-clearfix su-u-trim\" style=\"background-color:#f7f7f7;border-color:#ffffff;color:#333333;border-radius:3px;-moz-border-radius:3px;-webkit-border-radius:3px;\">\n<h2><span id=\"key_takeaways\">Key Takeaways<\/span><\/h2>\n<ul>\n<li>NFTs experienced a downturn after the crypto market cooled, with many previously valuable tokens becoming worthless.<\/li>\n<li>Despite this, businesses are finding new, more practical applications for NFTs as blockchain technology evolves.<\/li>\n<li>Fortune 500 companies are cautiously exploring NFTs, seeking ways to offer value beyond mere gimmicks.<\/li>\n<li>New hybrid token standards such as ERC-741 are emerging to address the limitations of traditional NFTs, combining fungible and non-fungible features.<\/li>\n<li>While speculation around NFTs may have waned, their utility in providing tokenized ownership remains appealing for brands and service providers.<\/li>\n<\/ul>\n<\/div><\/div>\n<div>\n    <section class=\"toc-sticky w-100 bg-white \">\n        <div class=\"toc-sticky__container container\">\n            <div class=\"toc-sticky__open d-flex align-items-end\" data-bs-toggle=\"collapse\"\n                 aria-controls=\"multiCollapse1\"\n                 data-bs-target=\"#multiCollapse1\">\n                <button\n                        class=\"btn btn-primary collapse-action-btn p-1 rounded-circle\"\n                        type=\"button\"\n                >\n                    <i class=\"icon-chevron-up\"><\/i>\n                <\/button>\n                <span id=\"toc-current-title\" class=\"d-flex align-items-center\">\n                    Table of Contents\n                <\/span>\n                <span class=\"toc-main-title-permanent\">Table of Contents<\/span>\n            <\/div>\n            <div\n                    class=\"collapse my-3\"\n                    id=\"multiCollapse1\"\n            >\n                <ol class=\"StepProgress\">\n                                                                        <li class=\"StepProgress-item current\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"key_takeaways\"\n                               onclick=handleScrollToTitle(\"key_takeaways\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">Key Takeaways<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"nfts_without_the_hype\"\n                               onclick=handleScrollToTitle(\"nfts_without_the_hype\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">NFTs \u2014 Without the Hype<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"fortune_500_companies_and_experiments_with_nfts\"\n                               onclick=handleScrollToTitle(\"fortune_500_companies_and_experiments_with_nfts\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">Fortune 500 Companies and Experiments with NFTs<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"nfts_can_be_behind_the_scenes_and_offering_value\"\n                               onclick=handleScrollToTitle(\"nfts_can_be_behind_the_scenes_and_offering_value\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">NFTS can be Behind the Scenes and Offering Value<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"hybrid_token_standards_unlock_new_use_cases\"\n                               onclick=handleScrollToTitle(\"hybrid_token_standards_unlock_new_use_cases\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">Hybrid Token Standards Unlock New Use Cases<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"the_bottom_line\"\n                               onclick=handleScrollToTitle(\"the_bottom_line\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">The Bottom Line<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                                                        <li class=\"StepProgress-item\">\n                                                <div class=\"StepProgress-item__group\">\n                            <a data-id=\"references\"\n                               onclick=handleScrollToTitle(\"references\")\n                               class=\"StepProgress-item__link\" data-level=\"2\">References<\/a>\n                                                    <\/div>\n                                                <\/li>\n                                    <\/ol>\n                <div class=\"toc-sticky__container__disperse\"><\/div>\n                <div class=\"toc-sticky__btn-top justify-content-center\">\n                    <button class=\"btn btn-link d-flex align-items-center\" onclick={btnTop()}><p>Show Full Guide<\/p><img decoding=\"async\"\n                                src=\"\/wp-content\/plugins\/table-of-contents\/assets\/images\/arrow-up-circle.svg\"\n                                alt=\"arrow-up-circle\">\n                    <\/button>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/section>\n    <div class=\"toc-sticky-list\">\n        <div class=\"toc-sticky__container container\">\n            <div class=\"toc-sticky__open d-flex align-items-end\" data-bs-toggle=\"collapse\" aria-controls=\"multiCollapse2\" data-bs-target=\"#multiCollapse2\">\n                <button class=\"btn btn-primary collapse-action-btn p-1 rounded-circle\"\n                        type=\"button\">\n                    <i class=\"icon-chevron-up up\"><\/i>\n                <\/button>\n                <span id=\"toc-current-title\" class=\"d-flex align-items-center\">\n                    Table of Contents\n                <\/span>\n            <\/div>\n            <div  class=\"collapse my-3\" id=\"multiCollapse2\">\n                <ol class=\"StepProgress\">\n                    \t\t\t\t\t \t\t\t\t\t                                                     <li class=\"StepProgress-item current \">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"key_takeaways\"\n                                   onclick=handleScrollToTitle(\"key_takeaways\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">Key Takeaways<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t                                                     <li class=\"StepProgress-item \">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"nfts_without_the_hype\"\n                                   onclick=handleScrollToTitle(\"nfts_without_the_hype\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">NFTs \u2014 Without the Hype<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t                                                     <li class=\"StepProgress-item \">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"fortune_500_companies_and_experiments_with_nfts\"\n                                   onclick=handleScrollToTitle(\"fortune_500_companies_and_experiments_with_nfts\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">Fortune 500 Companies and Experiments with NFTs<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t\n\t\t\t\t\t\t <span class=\"show_moretoc\">Show Full Guide<\/span>\n\t\t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"nfts_can_be_behind_the_scenes_and_offering_value\"\n                                   onclick=handleScrollToTitle(\"nfts_can_be_behind_the_scenes_and_offering_value\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">NFTS can be Behind the Scenes and Offering Value<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"hybrid_token_standards_unlock_new_use_cases\"\n                                   onclick=handleScrollToTitle(\"hybrid_token_standards_unlock_new_use_cases\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">Hybrid Token Standards Unlock New Use Cases<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"the_bottom_line\"\n                                   onclick=handleScrollToTitle(\"the_bottom_line\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">The Bottom Line<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                    \t\t\t\t\t \t\t\t\t\t \t\t\t\t\t\t  \t\t\t\t\t                                                      <li class=\"StepProgress-item ms_hidetoc\">\n                                                    <div class=\"StepProgress-item__group\">\n                                <a data-id=\"references\"\n                                   onclick=handleScrollToTitle(\"references\")\n                                   class=\"StepProgress-item__link\"\n                                   data-level=\"2\">References<\/a>\n                                                            <\/div>\n                                                    <\/li>\n                                    <\/ol>\n            <\/div>\n            <div class=\"toc-sticky__container__disperse\"><\/div>\n        <\/div>\n    <\/div>\n<\/div>\n\n<script id=\"toc-js\">\n    window.addEventListener(\"DOMContentLoaded\", () => {\n        const header = document.querySelector(\".header_wrapper\");\n\n        const pageLegend = document.querySelector('#multiCollapse1');\n        const pageLegendList = document.querySelector('#multiCollapse2');\n        const pageLegendCollapse = new bootstrap.Collapse(pageLegend, {toggle: document.querySelector(\".toc-sticky\").classList.contains('sticky')});\n\n        \/**\n         * Changing current title\n         *\/\n        (function (pageLegend) {\n            const titleNodes = 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const el = document.getElementById(id);\n        const headerHeightDifference = window.innerWidth < 992 ? -30 : -15;\n        window.scrollTo({\n            top: el.offsetTop - 60 - headerHeightDifference - 10,\n        });\n    }\n<\/script>\n\n<h2><span id=\"nfts_without_the_hype\">NFTs \u2014 Without the Hype<\/span><\/h2>\n<p><strong>Sol Nasisi, founder of digital publishing platform Booksie and co-founder of Chainletter Labs<\/strong>, told Techopedia:<\/p>\n<blockquote><p>&#8220;One problem with prior NFTs projects is that they required users to understand wallets, how to purchase crypto, gas fees, and more.<\/p>\n<p>&#8220;The complexity was too much for many people and created a barrier \u2014 but the hype part of the cycle is over, and now it&#8217;s time to build applications that add real-world value.&#8221;<\/p>\n<p>&#8220;You remember when NFTs were the hottest thing around because they were so rare and exclusive? Nowadays, it feels like everyone&#8217;s hopped on the train, and it&#8217;s watered down the whole vibe. People are churning out NFTs left and right, pricing them however they please, and it&#8217;s taken the shine off the market.<\/p>\n<p>&#8220;And those NFTs with celebs attached? They&#8217;re not always the jackpot folks hoped for,&#8221;<\/p><\/blockquote>\n<p><strong>Gady Kohanov, founder of crypto learning app BitcyClub<\/strong>, told Techopedia.<\/p>\n<blockquote><p>&#8220;So, how do we bring back the excitement? Three words: Offer people solutions!&#8221;<\/p><\/blockquote>\n<h2><span id=\"fortune_500_companies_and_experiments_with_nfts\">Fortune 500 Companies and Experiments with NFTs<\/span><\/h2>\n<p>Fortune 500 companies and brands \u2014 the largest in the US by revenue \u2014 have tentatively experimented with NFTs with mixed results.<\/p>\n<p><strong>Eric Pulier, CEO of <\/strong><a href=\"https:\/\/www.techopedia.com\/definition\/4923\/web-30\"><strong>Web3<\/strong><\/a><strong> platform Vatom<\/strong>, told Techopedia:<\/p>\n<blockquote><p>&#8220;It is a rare F500 company that will move the needle for their enterprise by selling NFTs, or \u2014 for that matter \u2014 using NFTs as badges of entry for &#8220;clubs&#8221; and such, as many such attempts have shown. Consumers want value for their time, not complexity, not gimmicks.&#8221;<\/p><\/blockquote>\n<p>The NFT projects that have worked best so far leverage the engagement and gamification of smart digital objects to create fun experiences and provide owners with real value.<\/p>\n<p>BitcyClub&#8217;s Kohanov said:<\/p>\n<blockquote><p>&#8220;Why should Fortune 500 companies give a darn about NFTs? Well, they&#8217;re always on the lookout for fresh ways to make a profit, and if NFT creators can offer unique solutions, it&#8217;ll create demand from those in need and drive up prices, catching the eye of investors looking to thrive.<\/p>\n<p>&#8220;It&#8217;s a new opportunity waiting to be seized. After all, scarcity drives up value. So, if we can inject some uniqueness back into NFTs, it&#8217;s sure to turn heads among the big players.&#8221;<\/p><\/blockquote>\n<p>Brands looking to introduce NFTs to customers can provide them with functionality beyond NFT marketplaces so that they are compatible and liquid across <a href=\"https:\/\/www.techopedia.com\/definition\/34630\/decentralized-finance-defi\">decentralized finance<\/a> (DeFi).<\/p>\n<p>They can now also reach audiences without having to launch NFT projects at all by leveraging other projects.<\/p>\n<p>Pulier explained, &#8220;Imagine &#8216;Project A&#8217; \u2014 unrelated to any brand \u2014 successfully deploys its tokens at scale, with a community engaging with its tokens and related games.<\/p>\n<p>&#8220;In Project A, there are 1 billion NFFT tokens issued, and they&#8217;ve achieved 2 million wallets using them.<\/p>\n<p>&#8220;Of those tokens, there are 100,000 &#8216;blue star&#8217; non-fungibles entangled among the fungible tokens.<\/p>\n<p>&#8220;One day, a brand can wake up and say: All blue star holders are getting a free PepsiCo at Kroger today.&#8221;<\/p>\n<p>Along with creating brand affinity, <a href=\"https:\/\/www.techopedia.com\/nft-trends-insights-from-anndy-lian\">Andy Liann recently highlighted to Techopedia the incoming NFT trends<\/a>, which all emphasize real use cases.<\/p>\n<p>The accelerating emergence of real-world asset (RWA) NFTs is not just about tokenization, but about improving accessibility and creating new markets and liquidity opportunities, Liann said.<\/p>\n<p>In addition, NFT <a href=\"https:\/\/www.techopedia.com\/definition\/exchange-traded-fund-etf\">exchange-traded funds<\/a> (ETFs) allow access to a diversified portfolio of NFTs, allowing for broader participation, while <a href=\"https:\/\/www.techopedia.com\/definition\/190\/artificial-intelligence-ai\">artificial intelligence<\/a> may help make NFTs more accessible and functional.<\/p>\n<p>Meanwhile, curating real photographs as NFTs appeals to major brands looking for authenticity, quality, and exclusivity.<\/p>\n<h2><span id=\"nfts_can_be_behind_the_scenes_and_offering_value\">NFTS can be Behind the Scenes and Offering Value<\/span><\/h2>\n<p>Market observers have long said that the key to adopting blockchain technologies \u2014 including <a href=\"https:\/\/www.techopedia.com\/definition\/27531\/cryptocurrency\">cryptocurrencies<\/a> and NFTs \u2014 is that they become part of the underlying infrastructure that users do not think about.<\/p>\n<p>When making a retail purchase online, buyers are unaware of the payment rails processing the purchase \u2014 they simply choose their items and submit their payment details to place an order for delivery.<\/p>\n<p>As Nasisi from Booksie put it:<\/p>\n<blockquote><p>&#8220;Being able to create publicly verifiable, unique digital assets is extremely useful, so it&#8217;s going to continue to find applications in publishing, art, finance, supply chain management, and more.&#8221;<\/p><\/blockquote>\n<p>Booksie&#8217;s Limited Editions, for example, allow digital creators of books, short stories, poems, essays, and articles to sell their work as premium products that are limited in number and come with ownership rights \u2014 recorded on the blockchain \u2014 for the purchaser, who can display, transfer or sell them if they wish.<\/p>\n<p>Nasisi added: &#8220;The blockchain allows us to create a new digital book publishing and purchasing experience complete with real ownership, rare books in limited editions, and opportunities for book collectors and resellers to participate in external markets.<\/p>\n<blockquote><p>&#8220;The blockchain can help a writer grow their royalties and also protect their work and reputation. The public ledger can be used to create new types of content and business models for writers, including limited editions, access to fan clubs, exclusive reader rewards, and more.&#8221;<\/p><\/blockquote>\n<p>Booksie is also beta-testing Postmarks, a feature that allows authors to digitally stamp their work on the blockchain to prove authorship and is used to verify that content has been created by a human.<\/p>\n<p>Nasisi added:<\/p>\n<blockquote><p>&#8220;There&#8217;s so much potential to use NFTs to fundamentally change the nature of digital content across a variety of industries. Publishing is just one small piece.&#8221;<\/p><\/blockquote>\n<h2><span id=\"hybrid_token_standards_unlock_new_use_cases\">Hybrid Token Standards Unlock New Use Cases<\/span><\/h2>\n<p>The value of NFTs is seen in their ability to provide exclusivity, proof of ownership, and accessibility, but they also have some limitations, including high transaction costs, low liquidity, and lack of interoperability.<\/p>\n<p>To address these challenges, developers have started proposing new hybrid token standards that combine features of fungible and non-fungible tokens to create new types of tokens that can be adapted depending on their use case.<\/p>\n<p>Pulier of Vatom, told Techopedia:<\/p>\n<blockquote><p>&#8220;Unlike fungible tokens that trade more like stocks, NFTs trade like art, with the psychology of individual uniqueness. This dichotomy, where fungible tokens bring superior liquidity and NFTs bring better engagement, creates the opportunity for a new solution that merges the two.<\/p>\n<p>&#8220;This is the idea of an NFFTs, a non-fungible fungible token, a new token type that combines the gamification power of NFTs with the liquidity of crypto.&#8221;<\/p><\/blockquote>\n<p><strong>ERC-404<\/strong> is an experimental Ethereum token standard that combines functionalities from fungible <a href=\"https:\/\/www.techopedia.com\/definition\/erc-20\">ERC-20<\/a> tokens and non-fungible <a href=\"https:\/\/www.techopedia.com\/definition\/erc-721\">ERC-721<\/a> tokens so that tokens can be both <a href=\"https:\/\/www.techopedia.com\/definition\/fungibility\">fungible<\/a> and non-fungible, depending on the specific implementation.<\/p>\n<p>For example, an ERC-404 token can be traded as a fungible token but become an NFT once it is used or redeemed \u2014 taking on unique characteristics and value.<\/p>\n<p>Conversely, an ERC-404 token could start as an NFT and be fractionalized into smaller fungible tokens for trading and then recombined as an NFT.<\/p>\n<p>Pulier is developing a new smart contract called <a href=\"https:\/\/ethereum-magicians.org\/t\/erc-7647-fungible-nfts\/19056\" target=\"_blank\"><strong>ERC-741<\/strong><\/a>, a reference to the combination of the ERC-20 and ERC-721 standards.<\/p>\n<p>&#8220;While recently we&#8217;ve seen many projects proposed to address the challenge of a hybrid token, none have yet addressed the key requirements the NFFT is meant to solve,&#8221; Pulier noted.<\/p>\n<p>In the new proposed form, an NFFT must:<\/p>\n<ul>\n<li>work for new projects and existing projects without disruption or re-issuance<\/li>\n<li>scale to mass volumes<\/li>\n<li>work across all chains<\/li>\n<li>handle denominations simply<\/li>\n<li>be 100% compatible with current centralized exchanges, decentralized exchanges, marketplaces, and decentralized apps (dApps)<\/li>\n<li>maintain ownership, even as the hybrid tokens are flipped between states, moved between wallets, or used in the larger world of exchanges, games and apps<\/li>\n<\/ul>\n<p>The first hybrid NFFT projects are using AI-generated humor and art to issue thousands or even millions of tokens in a transaction, each one with creative content.<\/p>\n<p>Pulier said:<\/p>\n<blockquote><p>&#8220;Owning novel, interesting objects at this scale was never before possible, and we are having fun exploring the kinds of emotional and economic user experiences this phenomenon opens up.<\/p>\n<p>&#8220;What is creativity? What does it mean to own and share unique works in this context, and what kinds of new gamification concepts now emerge?&#8221;<\/p><\/blockquote>\n<p>A resurgence in NFTs will not be led by speculation, Pulier added.<\/p>\n<p>&#8220;The primary motivation for most people&#8217;s use of crypto is speculation, and anyone who claims otherwise is misguided or serving an agenda.<\/p>\n<p>&#8220;Yet, despite this fact, NFTs are poor speculative instruments, given their unique nature and the economics of finding an interested seller or buyer per object.<\/p>\n<p>&#8220;Conversely, fungible tokens are ideal for speculation and, as a result, they command superior liquidity and volume across centralized and decentralized exchanges.&#8221;<\/p>\n<p>According to Pulier, rather than trying to create more speculation on NFTs, NFFTs focus on their usefulness as objects of utility or engagement rather than price.<\/p>\n<blockquote><p>&#8220;In this context, NFTs will start to do what they do best, leaving speculation behind.&#8221;<\/p><\/blockquote>\n<h2><span id=\"the_bottom_line\">The Bottom Line<\/span><\/h2>\n<p>While the hype around NFTs from recent years has cooled off, the benefits of tokenized ownership of digital and real-world assets still make them an attractive tool to a growing number of service providers and brands.<\/p>\n<p>Rather than focusing on the novelty of NFTs and price speculation, new use cases are emerging that use NFTs as part of the Web3 infrastructure that enables content creators to offer new and interesting features to their audience.<\/p>\n<p>A final word from BitcyClub&#8217;s Kohanov: &#8220;If we want NFTs to sparkle again and become a must-have in major marketing strategies, we&#8217;ve got to get down to business and offer real solutions. That&#8217;s the key to making NFTs stand out from the pack.&#8221;<\/p>\n<div class=\"reference-content\">\n<div class=\"reference-heading reference-content-collapsible-heading\">\n<h2><span id=\"references\">References<\/span><\/h2>\n<\/div>\n<div class=\"reference-content-body\">\n<ul>\n<li><a href=\"https:\/\/dappgambl.com\/nfts\/dead-nfts\/\" rel=\"noopener\" target=\"_blank\">Dead NFTs: The Evolving Landscape of the NFT Market<\/a> (DappGambl)<\/li>\n<li><a href=\"https:\/\/ethereum-magicians.org\/t\/erc-7647-fungible-nfts\/19056\" rel=\"noopener\" target=\"_blank\">E741 &#8211; Fungible NFTs<\/a> (Fellowship of Ethereum Magicians)<\/li>\n<\/ul>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Non-fungible tokens (NFTs) were declared dead \u2014 at least on life-support \u2014 after the crypto market cooled down from the height of the hype cycle. At its peak, NFTs in the form of digital art and collections sold for tens of millions of dollars, and yet as crypto winter set in, a study in September [&hellip;]<\/p>\n","protected":false},"author":286558,"featured_media":229259,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[601,602],"tags":[],"category_partsoff":[],"class_list":["post-229076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","category-cryptocurrency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How the Death Knell for NFTs May Have Been Premature<\/title>\n<meta name=\"description\" content=\"Interest in non-fungible tokens (NFTs) has waned since the height of the market in 2021. 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