While NFTs dominated the crypto world in 2021, their popularity has declined significantly. This shift is evident in the dramatic plunge of the NFT market from its peak value of over $30 billion to approximately $3.36 billion today. This decline coincides with a broader slowdown in the overall cryptocurrency market and interest in altcoins. The Bored Apes Yacht Club exemplifies this trend. Its market cap once soared as high as $4.2 billion, but now stands at a mere $251.5 million, reflecting the broader downturn of the NFT market. 2021’s NFT boom was driven by speculation and a belief in new opportunities, fueled by market hype and stimulus checks. However, this growth has since waned as investor appetite has diminished. Nevertheless, the future of NFTs remains promising, especially when considering their potential use cases beyond art and speculation.