NFTs A Year Ago And Today: What Has Changed?

NFTs have been a unique and distinct aspect of crypto and its not so difficult to see how they've contributed to the growth of the entire crypto industry and also their impact and how they've improved the lives of the many people around the world especially creators. Around this time last year, the NFT market was at its all time high with regards to the volume of NFTs traded in a single month, but it's been a year since then and so many things have happened, some of which have been beneficial to NFTs and some that's harmed the space seriously.

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What Has Changed: Not much besides the fact that there are NFT creators and Projects now that it was last year. The space has grown and developed into a community of creatives and like minds and not just one where people come solely with the purpose of making money. Unfortunately, the bear market has also affected the space as many NFTs are now worth way less than they cost a year ago plus the massive number of scam projects in the space.

I know quite alot of people who have left the space for personal reasons especially those that've been affected massively by the bear market, but then more people keep coming in and overall, there's growth in the number of users and creators, but the volume of trades per month is so low when compared to last year's volume. One of the biggest threats to NFTs laty are the scams and exploits in the space. Unfortunately, this is a thing with cryptos in general and existence of scam projects like this makes investing difficult and people losing interest in NFTs.

Is investing in NFTs Still Worth It? I do believe like cryptocurrencies, NFTs are still investment worthy and aren't just a bubble like most people thought at first. But investing in them a also require diligent research and investigation like with cryptos and traditional investments. Times like these are the best times to jump on solid projects and also for creators to build in anticipation for the bull market.

I think the NFT space is growing rapidly and like every other kind of investment in the real world, there will be good times and not so good times. My advice to anyone still in the space right now particularly creators will be to keep building, keep creating and keep collecting. It might seem difficult and exhausting but it would pay off when the market recovers.