I have recently noticed that many people are declaring NFTs dead, but the reality is quite different. According to Yat Siu of Animoca Brands, the NFT market continues to be driven by a specific audience: crypto collectors with substantial wallets.

This perspective is interesting because it completely changes the picture. It’s not a total collapse of the sector, but rather a consolidation phase where the NFT market is repositioning itself. Major crypto players, those with real capital, continue to operate and collect, even if with less media noise compared to the boom years of 2021-2022.

What emerges is that the NFT market has not disappeared; it has simply become layered. Retail speculators have left, but the base of institutional and wealthy collectors remains solid. This is a fact that many analysts underestimate when talking about the sector’s death.

Animoca Brands, which has always maintained a long-term view of this space, seems to confirm this with their perspective. It’s worth watching how the NFT market will evolve in the coming months, because it could surprise those who have already written the sector’s epitaph.