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The Rise and Fall of NFTs:
> 2014
> concept of NFT is introduced
> first collection created
> named Quantum
> made by 2 friends
> to prove art can have digital ownership
> 2021
> after 7 years of experimenting
> the perfect environment is created
> lockdowns, everyone bored and online
> NFTs explode overnight
> kids print money from bedrooms
> $200 → $200,000 in weeks
> a jpeg sells for $69M
> nobody understands it
> everyone wants in
> discord becomes wall street
> your twitter feed = your income
> CryptoPunks become digital artifacts
> their floor prices go to $400k
> top grails sell for many millions
> Bored Ape Yacht Club isn't just art
> but access, status, community
> Facebook launches a metaverse
> people pay millions for digital land
> "people will live in the metaverse"
> celebrities pile in
> Justin Bieber, Steph Curry, Snoop Dogg
> not just buying but launching NFTs too
> top IG pages were launching NFTs
> even Lana Rhoades launched one
> everyone was launching collections
> people spent months grinding
> just to be eligible to mint NFTs
> mint days felt like war
> thousands fighting for supply
> bots everywhere, gas fees reach thousands
> people pay $300… $500… $1000
> just to click “mint”
> and it could fail, but the R/R was worth it
> missing a mint = missing life-changing money
> marketplaces printing billions in volume
> random projects doing millions overnight
> influencers shilling, timelines flooded
> TikTok full of “next 100x NFTs”
> everything goes up
> even bad art sells out
> even scams make money
> ETH was reaching ATHs
> NFT mcap goes from $30m to $8b
> peak euphoria
> 2022
> euphoria continues until April
> the market peaks at ~$40B
> generational wealth was built
> reality hits in May
> too many projects
> not enough buyers
> cash grabs everywhere
> then Luna and FTX collapse
> billions vanish, trust disappears
> liquidity gone overnight
> floors start nuking -50% → -80% → -95%
> group chats go quiet
> people stop flexing
> but there still is a lot of speculation
> few collections still bring good returns
> narrative shifts from flipping to building
> NFT mcap goes from $40B to $5B in June
> "just a small drawback" right?
> 2023
> wrong
> volume down 90%+
> nobody left to sell to... then a spark
> Bitcoin Ordinals: NFTs on Bitcoin
> new narrative but same behavior
> degens return, fees explode again
> btc flips eth in NFT volume
> but it doesn't last long
> regulators step in
> lawsuits begin
> nfts return to being a ghost town
> 2026
> after 3 years of unsuccessful stories
> the aftermath is brutal
> -95% from peak, users gone
> eth below $2,000
> nft mcap below $1.5B
> bags everywhere, exits nowhere
> blue chips struggling
> CryptoPunks fp under $30k
> Bored Apes aren't even worth $10k
> Meta closes their Metaverse
> $150b+ in losses and that's just one project
> the gold rush is over
> the noise is gone
> the idea remains
> the hope for a comeback is stronger than ever
And this represents just 0.1% of the history of NFTs. Writing this final segment I realize how easy we had it and how much fun we had during that bull run.
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