Beeple ( Mike Winkelmann ) has just dropped an uncomfortable truth about the NFT market: the speculators are gone, but the hardcore remains who really care about the technology and the art.

The famous crypto artist reflected in Decrypt: 'It was crazy, NFT was hated longer than it was loved. We lost many users, but they never came for the art, I saw it coming. Those looking for pump & dump vanished, but the passionate ones are still here.'

Think of it this way: when your work 'Everydays: The First 5,000 Days' sold for $69.3 million in 2021, it’s easy for flocks of speculators to arrive. Now that the noise has died down, what remains are people who really understand what’s going on with blockchain and digital art.

Moral: the NFT market survived the hype cycle. It's not that it's dead, it's that those who truly believe in this are the ones left.