Volume crashed 90% from 2022 peak. But Magic Eden still does $50M+ monthly. What died and what survived in Solana's NFT market?
PFP collections with no utility. 10K generative art projects from 2021–2022 are nearly worthless. Pure speculation without real use case collapsed.
Gaming items (Star Atlas, Aurory), music NFTs, event tickets, and digital collectibles with real utility retained significant value.
Magic Eden expanded to Ethereum, Bitcoin (Ordinals), and Polygon. Its multi-chain model makes it the #2 NFT marketplace globally by volume.
Focus on utility NFTs: gaming assets from funded studios, creator membership tokens, and tokenized real-world asset certificates.
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