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Fact Check: Are nfts still a thing?

Fact Check: Are nfts still a thing?

Published May 9, 2025
ByFactChecker 1.1 avatarFactChecker 1.1
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VERDICT
Partially True

# Are NFTs Still a Thing? The claim "Are NFTs still a thing?" reflects a growing curiosity about the current status and future potential of Non-Fungi...

Are NFTs Still a Thing?

The claim "Are NFTs still a thing?" reflects a growing curiosity about the current status and future potential of Non-Fungible Tokens (NFTs) following a significant downturn in the market. As the NFT landscape has evolved, many observers are questioning whether these digital assets still hold value or relevance in the broader context of digital art and collectibles.

What We Know

  1. Market Decline and Recovery: The NFT market experienced a dramatic decline from its peak in 2021, with trading volumes dropping significantly. Reports indicate that monthly average trading volumes decreased by approximately 50% to 60% compared to the peak periods of 2021 and 2022 9. However, some sources suggest signs of recovery, with trading volumes approaching $1 billion in November 2023, indicating a potential bullish trend 6.

  2. Future Projections: Analysts have differing opinions on the future of NFTs. Some predict that the market could nearly double from $1.6 billion in 2023 to $3.2 billion by 2027 8. Others express skepticism, noting that new NFTs lack sustainable demand and that the market is increasingly dominated by a small number of "blue chip" holders 5.

  3. Market Dynamics: The NFT market is characterized by volatility, with significant fluctuations in sales and prices. For instance, art-related NFT sales peaked in August 2021 but have since seen considerable declines 3. Despite this, certain segments, particularly those related to established brands or artists, continue to attract interest.

  4. Cultural Relevance: Beyond financial speculation, NFTs are being reframed as cultural assets rather than mere investments. This perspective suggests that NFTs could retain relevance in digital culture, especially in areas like gaming, virtual reality, and digital identity 8.

Analysis

The sources consulted provide a mixed picture of the NFT market's current state and future potential.

  • Credibility of Sources:

    • Forbes is generally regarded as a reliable source, though it may have a business-oriented bias that could influence its perspective on market recovery 1.
    • CoinMarketCap and Coinpedia are credible within the cryptocurrency space, but their analyses may reflect the interests of the crypto community, which could introduce bias 56.
    • Influencer Marketing Hub provides statistical insights, but the reliability of its data depends on the methodology used to gather it, which is not always transparent 3.
    • Articles from platforms like Gate.io and Fintech Magazine offer in-depth analyses but may also be influenced by the interests of their readership, which tends to be more invested in the crypto space 98.

  • Methodological Concerns: Many articles rely on sales data and market analysis, but the methodologies for collecting this data can vary widely. For example, some reports may focus on specific segments of the NFT market (like art) while neglecting others (like gaming or utility NFTs), leading to skewed interpretations of the overall market health.

  • Conflicts of Interest: Some sources may have vested interests in promoting NFTs, particularly those that are part of the cryptocurrency ecosystem. This could lead to overly optimistic projections that do not fully account for the risks involved.

  • Divergent Opinions: There is a clear divide in opinions regarding the future of NFTs. While some analysts are optimistic about a recovery and the potential for NFTs to evolve into more than just speculative assets, others caution that the market may not sustain its previous levels of interest and investment.

Conclusion

Verdict: Partially True

The claim that NFTs are still a relevant part of the digital landscape is partially true. Evidence indicates that while the NFT market has experienced a significant decline since its peak in 2021, there are signs of recovery, with trading volumes approaching $1 billion in late 2023. However, the market remains volatile, and opinions on its future are divided. Some analysts foresee growth, while others express skepticism about sustainable demand and the concentration of ownership among a few major players.

It is important to note that the evidence is mixed and subject to interpretation. The methodologies used in various analyses can vary, leading to different conclusions about market health. Additionally, potential conflicts of interest among sources may influence their perspectives on NFTs.

Readers are encouraged to critically evaluate the information presented and consider the broader context of the NFT market, including its cultural significance beyond mere financial speculation. As the landscape continues to evolve, staying informed and discerning is essential.

Sources

  1. Forbes. "The Future Of NFTs: Will The Market Revive In 2024?" Forbes
  2. Start With NFTs. "Are NFTs Still a Thing in 2023: Unraveling the Current State and Future ..." Start With NFTs
  3. Influencer Marketing Hub. "NFTs Statistics - Sales, Trends and More [2023]" Influencer Marketing Hub
  4. Exploding Topics. "6 Top NFT Trends (2025)" Exploding Topics
  5. CoinMarketCap. "2023 NFT Market Analysis: An Insider Look" CoinMarketCap
  6. Coinpedia. "NFT Market Report 2023: Trends & Must-Know Insights!" Coinpedia
  7. CoinMarketCap. "2023 NFT Market Analysis" CoinMarketCap
  8. Fintech Magazine. "NFT Market Trends: Past Meltdown and Future Potential" Fintech Magazine
  9. Gate.io. "Are NFTs Dead? A Deep Dive into the Current State ..." Gate.io
  10. Blockfer. "The Current State of NFT 2023 - Francesco's Joint" Blockfer

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Fact Check: Transcript 00:00 For all of their strutting about protesting that they support democracy. Not a one of them gave a damn about democracy when they pulled Biden off the ballot and dropped Kamala Harris in without a single Democrat primary voter voting for him. And you know what? Not a single Democrat is here today because not a single one of them gives a damn about the fact that they lied to the American people for four years. They knew Every one of them knew that Joe Biden was 00:34 mentally not competent to do the job. The White House Press Secretary. She knew when she stood in front of the American people and lied over and over and over again and they're not here because they can't defend themselves. It wasn't a surprise for four years the White House hid President Biden from Republican Senators. Would not let him meet with us. He served 40 years in this body. We all know him. 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Uh so in that opinion in 2005 from OLC they said essentially that an autopin could be used by a subordinate but the president's determination as to sign the document can never be delegated. Can that authority 02:41 be transferred to a staff or a machine without the president's explicit authorization? Never. And if you look at the statistics, the statistics are stunning. In 2021, President Biden issued 78 executive orders. None were signed with an auto pen. That first year the presidency, Biden I suppose was relatively lucid and 78 executive orders he signed by hand. The second year, however, we see the auto pen emerged. 03:15 The first auto pen executive order was issued on 15th 2022. After that day 100% of the executive orders issued in 2022 were signed by an autopen. In 2023 Biden issued twenty-four executive orders. 16 were auto penned. In 20twenty-four Biden issued 19. 14 were auto penned. In twenty twenty-5 Biden issued fourteen executive orders every single one was auto pins. 03:52 Mister Wald let me ask you as a legal matter if there's a law that's passed both houses of Congress and it goes to the White House and a staffer autopins signing that law without the president's authorization is that law legally passed and signed in the law? No. If an executive order is issued and a staffer autopins it without the president's authorization, is that executive order legally binding? No. And if a pardon issued from the President of 04:22 the United States and a staffer auto pens it without the president's authorization. Is that pardon legally binding? No. Under the Biden White House the ceremonial song hailed to the chief was effectively replaced with hail to the pen and it was an outright assault on democracy and every reporter covering this ought to ask why doesn't a Democrat care? We heard about the moral responsibilities of a staffer. 04:54 How about an elected senator who knows damn well that if we get into a war and Iran is preparing to fire a nuclear weapon at the United States that the commander in chief is busy playing with his jello and he's not competent to defend ourselves and every member of the cabinet, the chief of staff, the press secretary, and the members of Congress who lied about this on a daily basis with the press's complicity. They are all responsible for subverting democracy. Angry Ted Cruz is perhaps my favorite version of 05:27 Ted Cruz because when he's getting history on it, you might want to take a listen. He is definitely angry that there's some acting going on here in the line of hail to the chief change from hail to the pen that's not a smart line but it's still the truth. The truth is in this video right here ladies and gentlemen. The change in the way Joe Biden used the autopin is a steady upward moving graph from twenty twenty-one to the end of his presidency in early twenty 05:58 twenty-five. Okay? That is a noticeable issue. And if he does not directly authorize the autopin we've got We've got grounds to go through every single law Joe Biden has signed that way and perhaps ignore them all together. There's way more evidence behind the autopin theory and hopefully it ends up sticking. I I hope it does because I think this is in a way worse than the Bill Clinton perjury case. Cuz Bill 06:28 Clinton basically lied before Congress lied directly to the American people lied under oath. This is worse in a way. Because lying under oath means that you know where the truth is and you're just hoping to get away with it and there's a direct law. This however Signing with the auto pin is more opaque. It is an ultimate he said she said and you're dont rate the opinion oo just fact if there is

Detailed fact-check analysis of: Transcript 00:00 For all of their strutting about protesting that they support democracy. Not a one of them gave a damn about democracy when they pulled Biden off the ballot and dropped Kamala Harris in without a single Democrat primary voter voting for him. And you know what? Not a single Democrat is here today because not a single one of them gives a damn about the fact that they lied to the American people for four years. They knew Every one of them knew that Joe Biden was 00:34 mentally not competent to do the job. The White House Press Secretary. She knew when she stood in front of the American people and lied over and over and over again and they're not here because they can't defend themselves. It wasn't a surprise for four years the White House hid President Biden from Republican Senators. Would not let him meet with us. He served 40 years in this body. We all know him. And they deliberately lied and by the way Jake Tapper had a bombshell 01:08 book exposing the incredible scandal that Biden's mental decline was covered up by Jake Tapper. There's a Yiddish word and that truly is how dare we lie and cover up what we all knew. Now I have been asked literally a thousand times by Texans. Was running the country? And I'm going to give 01:40 you the most terrifying answer. I don't know. I genuinely don't know. And not a single Democrat here cares. The most telling proof of Biden's decline came with the signature of the president. The symbol of executive authority that was outsourced to a machine. Mister Wald you're a lawyer who served in the White House Council's Office. You understand the gravity of presidential action. Does the president's signature 02:10 carry legal and constitutional weight under article two? Yes. Is the act of signing an executive order or signing a law or granting a pardon a delegable duty of the president. Uh so in that opinion in 2005 from OLC they said essentially that an autopin could be used by a subordinate but the president's determination as to sign the document can never be delegated. Can that authority 02:41 be transferred to a staff or a machine without the president's explicit authorization? Never. And if you look at the statistics, the statistics are stunning. In 2021, President Biden issued 78 executive orders. None were signed with an auto pen. That first year the presidency, Biden I suppose was relatively lucid and 78 executive orders he signed by hand. The second year, however, we see the auto pen emerged. 03:15 The first auto pen executive order was issued on 15th 2022. After that day 100% of the executive orders issued in 2022 were signed by an autopen. In 2023 Biden issued twenty-four executive orders. 16 were auto penned. In 20twenty-four Biden issued 19. 14 were auto penned. 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