Signs of Recovery and Investment Opportunities in the NFT Market
After experiencing the bear market of 2022-2023, the NFT market shows signs of warming up in 2024. Blue-chip projects such as BAYC and Pudgy Penguins have stabilized and rebounded in floor prices, while emerging projects like NodeMonkes have performed impressively. Financialization tools for NFTs, such as Blur lending and NFT fragmentation, have lowered the entry barriers for participation. It is noteworthy that the NFT market is shifting from speculative hype to practical applications, landing in areas such as gaming, social networking, and membership rights. Investors should focus on projects with strong communities, practical value, and scarcity, avoiding blind chasing of speculative NFTs.