NFT Market Crashes 93% From Highs, But Analysts Predict Rebound Focused on Real Use Cases by 2024
• NFTs have crashed over 93% from their highs in early 2022 and the term "NFT" has become taboo • Analysts believe 2024 could see a major NFT resurgence, focused less on profile picture collectibles and more on real use cases like tokenized assets, gaming, metaverse, etc. • A handful of top NFT brands like Bored Apes may continue to grow, but 90-95% of 2021’s NFT collections likely won’t recover • As the NFT market matures, it will shift beyond just collectibles to more meaningful applications of blockchain-proven ownership, authenticity, etc. • Apple’s upcoming AR/VR headset could help drive a metaverse rebound, presenting new NFT use cases and opportunities