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For a lot of non-crypto people, NFTs can be a first foray into the crypto space and a way to dabble with deeper blockchain concepts without having to learn the ins and outs of the more complex side of crypto assets. It’s more fun to show friends what NFTs are in your wallet than it is to talk about how much crypto you own, and I think that’s one of the reasons they’re continuing to gain popularity amidst the crypto downturn.

Federal interest rate policy, inflation, worldwide supply chain shortages, and ongoing global unrest are having an adverse impact on markets of all sorts. Crypto is not immune to widespread shifts in investor confidence, and this too shall pass.