Volume dropped 97% from the 2021 peak. But a new NFT model is emerging. Here is what is actually happening.
Profile picture NFTs with no utility beyond speculation. Most of the 10K collections from 2021–2022 are worth near zero.
Music NFTs (artists selling direct to fans), event tickets, gaming items, and domain names (ENS) all retain real value.
Nike's .SWOOSH platform, Starbucks Odyssey, and Ticketmaster NFT tickets are all growing in 2026. Real brands, real utility.
NFTs as proof of ownership, membership, or achievement are replacing NFTs as pure speculation. The technology survived the hype.
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