Hashpedia

NFTCrash

Twitter 2022-05 business historic

Also known as: NFTBubbleDeadNFTs

#NFTCrash

NFT market collapsed from peak hype to fire sale prices.

Origin & Impact

After 2021’s NFT mania, 2022 saw brutal crash. Trading volumes dropped 97%, floor prices cratered, and celebrities’ BAYC apes became worthless. Projects abandoned, founders ghosted, and utility promises evaporated. The hashtag marked transition from NFTs as cultural phenomenon to punchline.

The crash revealed NFTs as primarily speculation, not art or technology revolution. Profile picture projects that sold for millions traded for hundreds. The bubble’s pop left many holding worthless JPEGs and hard lessons about hype cycles and greater fool theory.

#NFT #CryptoCrash #BoredApes