Yes, the enthusiasm for NFTs has cratered, but we shouldn't use junk analysis to make that point. Too many news outlets uncritically reprinted a bad "study", and the resulting eye-catching headline was widely shared.
https://newsletter.mollywhite.net/p/news-flash-95-of-nfts-have-always
@molly0xfff an NFT has always felt like a digital way to sign an album to a fan (remember albums, everyone? - yes I know vinyl is making a comeback)
Signing an album with a fan’s name ruined the album’s value on the market but made it priceless to the fan.
This is NFTs.
@raineer @molly0xfff I would agree with this take, with the addition that it also comes with a direct link, or comms channel, fan to artist. So if artist decides to gift, reward, interact, it’s now easy.
Its like that time some record executive shot down the beatles (“guitar music is out”) in 1959 or so…we’re just in a dip.
Excuse me, while I kiss the sky.
Molly White
Raineer 
🦆
EtherAndRhum