*Crazy but true 😳🎨*
In 2021, *The Merge* NFT by Pak sold for *91.8 million*, making it one of the *most expensive NFTs ever* at the peak of the hype cycle. 🚀💰
Fast forward to today…
It’s now reportedly worth *less than 1 ETH* (2.5k). 😶📉
So what happened? 🤔
🔹 *Hype vs Utility* — 2021 was the era of speculative mania. People were buying digital art at sky-high prices with little long-term use case or utility.
🔹 *Market Correction* — After the NFT boom, the space saw a *massive crash* in both volume and valuation. Even top-tier pieces couldn’t hold their value.
🔹 *Low Liquidity* — High-priced NFTs often lack a buyer base at the same price level, especially in bear markets.
*Lesson here?*
👉 *Not all expensive digital assets are good investments*.
👉 *Hype dies, fundamentals survive*.
Still, this doesn't mean NFTs are dead — just that *we're entering the utility phase*, where projects need real value, not just attention.