Current State of NFTs

NFTs continue to constitute an important cornerstone of the broader crypto sphere. If 2021 saw the birth of NFTs as a versatile new primitive, the first half of 2022 has been hallmarked by a variety of growth spurts. In support of this maturation, a wide array of developments has contributed to a more sophisticated substrate for NFTs.

Previous power structures have been overthrown, while dominating narratives have been in constant flux, alternatively accelerating and thwarting the path to mainstream adoption. Amidst the shifting sands of this unstable environment, identifying lasting trends might seem like a fruitless undertaking. However, several core themes have manifested that have impacted the NFT market in a significant manner.