📝 BORING NFT NOTE #10 Why Have NFTs Failed Again And Again?…
📝 BORING NFT NOTE #10
Why Have NFTs Failed Again And Again?
A provocative question.
An uncomfortable question.
But perhaps the most important question the NFT industry can ask.
What if NFTs didn't fail because of technology?
What if they failed because of people?
❓ Did NFTs become more about flipping than collecting?
❓ Did projects focus more on marketing than building?
❓ Did creators promise wealth when they should have delivered value?
❓ Did collectors buy assets they didn't actually understand?
❓ Did marketplaces prioritize volume over community?
❓ Did influencers chase commissions instead of conviction?
❓ Did we confuse rarity with usefulness?
❓ Did we mistake speculation for adoption?
❓ Did we build communities around prices instead of purpose?
❓ Did we forget that ownership itself is valuable?
The truth may be uncomfortable.
Most NFT failures didn't happen because blockchain failed.
They happened because expectations exceeded reality.
Every cycle follows a familiar pattern:
🚀 Excitement
💰 Speculation
📈 Euphoria
📉 Collapse
😡 Blame
🔨 Rebuilding
The projects that survive are rarely the loudest.
They're usually the ones quietly creating value while everyone else argues on social media.
Why It Matters
NFTs may continue failing as investments.
NFTs may continue failing as speculative vehicles.
But they don't have to fail as collectibles.
They don't have to fail as digital ownership.
They don't have to fail as permanent records.
The next generation of NFTs may depend on one simple question:
What problem does this NFT solve?
🟣 Boring Index: 100/100
The Hardest Question Of All
❓ If nobody could sell it tomorrow...
Would they still want to own it today?
Stay Boring.
🟣 Stay Boring.
Boring NFT Newsletter @NFT_ProjectBSV
Because the strongest communities are built quietly.
Replies
I think you’re on to something. Collectibles are a strange phenomenon. I was browsing @3dordi and saw one of @KURO Phoenix Blue waifus and I wanted it.
I’ve been wrestling with the source of this impulse and noted that the collecting of NFTs scratches at a some kind of itch of the psyche.
“But they don’t have to fail as collectibles”
It’s when this itch of the psyche caught me that I understood why you keep posting about NFTs⭐️
The next itch I see is participating in auctions.
There probably is a thrill there that’s flying past over all our heads that’s absolutely perfect for Treechat’s plumbing. You’re onto something
Excellent observation, @HOU ⭐
I think you've identified something many people overlook.
NFTs aren't just technology. They're also psychology.
The desire to collect, complete a set, discover something rare, or own a piece of a story seems deeply human. Long before NFTs, people collected stamps, coins, comics, trading cards, art, and memorabilia.
NFTs simply brought that instinct on-chain.
And you're right about auctions.
There's something fascinating about participation itself. Winning is part of it, but so is the competition, the anticipation, the public signaling, and the feeling of being involved in the outcome.
Collecting scratches one itch.
Auctions scratch another.
The interesting question is whether blockchain finally gives us the infrastructure to turn both behaviors into persistent digital culture.
That might be where the real story begins.
🟣 Stay Boring.