Value Reconstruction During the Transformation Period of the NFT Market
After the explosive growth in 2021, the NFT market is undergoing a deep adjustment. Data shows that in the first quarter of 2024, NFT trading volume decreased by 65% year-on-year, but the prices of high-value collectibles remained stable. The market is showing two new trends: first, the rise of functional NFTs, such as tickets and memberships, with increased demand for practical NFTs; second, brand NFTs becoming a new hotspot, with multiple international luxury brands launching digital collectibles. Industry insiders point out that the NFT market is transitioning from speculation-driven to value-driven, and the next stage of development will focus more on exploring practical application scenarios.