*Crazy but true ๐ณ๐จ*
In 2021, *The Merge* NFT by Pak sold for *91.8 million*, making it one of the *most expensive NFTs ever* at the peak of the hype cycle. ๐๐ฐ
Fast forward to todayโฆ
Itโs now reportedly worth *less than 1 ETH* (2.5k). ๐ถ๐
So what happened? ๐ค
๐น *Hype vs Utility* โ 2021 was the era of speculative mania. People were buying digital art at sky-high prices with little long-term use case or utility.
๐น *Market Correction* โ After the NFT boom, the space saw a *massive crash* in both volume and valuation. Even top-tier pieces couldnโt hold their value.
๐น *Low Liquidity* โ High-priced NFTs often lack a buyer base at the same price level, especially in bear markets.
*Lesson here?*
๐ *Not all expensive digital assets are good investments*.
๐ *Hype dies, fundamentals survive*.
Still, this doesn't mean NFTs are dead โ just that *we're entering the utility phase*, where projects need real value, not just attention.
#NFTs #CryptoHistory #TheMerge #ETH๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ๐ฅ ๐๐๐
