In 2023, the transaction volume of NFTs dropped significantly. Lack of innovation and playability were reasons behind the liquidity decline.
The slump in the NFT market is largely influenced by the broader performance of the cryptocurrency market.
ERC-6551, Blur’s Blend lending platform, and Opensea’s Deals may be pivotal for the revival of the NFT market.
In the long term, NFTs may trend towards convergence with other technologies such as quantum computing, virtual reality and augmented reality technologies, biotechnology, and super AI.
