NFT bubble deemed unsustainable without more market research tools
The sheer number of NFT projects and collections combined with the complexities of analyzing their value have made it difficult for investors to make decisions based on anything more than hype.Despite being around since 2012, nonfungible tokens, better known as NFTs, only went mainstream in the last year following the most recent bull market.
For many, this asset class came out of nowhere, going from something completely unheard of to a major brand investment. The world has seen evidence of this by the actions of celebrities like Justin Bieber posting their NFT purchases on social media and companies like JP Morgan and Facebook (now Meta), solidifying their position in the metaverse. The market has since entered a boom, with a valuation of billions of dollars as a standalone ecosystem.
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