Is NFT mania here to stay?

economictimes.indiatimes.com:

NFTs as profile pictures, Facebook’s parent company META is launching an NFT marketplace, and several technology companies are investing in NFT platforms. Needless to say, they are no more a “failed experiment.” The reason for this is the massive growth in NFTs over the past year. It started with the sale of the Everydays painting by digital artist Beeple for $69 million in February 2021. And since then, a slew of NFT projects began to emerge. Many investors now deem NFTs as legitimate investments. But much of the NFT market lacks structure. In order to differentiate between NFT projects, we can place them into 4 categories.

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CollectiblesNFTs can be collectibles, where each individual is part of a larger collection. These NFTs are limited in number, and no more than a specified amount can be created. Each NFT has a unique visual characteristic, which gives it additional value. These are used on social media platforms as unique profile pictures.Example: Bored Ape Yacht Club, Crypto Punks, Meebits, etc.ArtworkThese are a unique one-of-a-kind NFT. These are usually sold in a traditional auction process where one bidder holds the right and ownership to a piece of digital art. These are not part of a larger collection. However, unlike traditional pieces of art, these NFTs are dynamic i.e. they can change depending on real-world events. Additionally, photography NFTs are a growing market within the one-of-a-kind NFT artwork marketplace.Example: Beeple’s Crossroads NFT sold for $6.6 million, etc.MusicNFTs were initially seen as visual, image-like pieces of art.