NFTs Poised for Resurgence in 2024, Says DappRadar's Head of Research

According to Decrypt, Pedro Herrera, DappRadar's head of research, predicts a major resurgence for non-fungible tokens (NFTs) in 2024. Herrera believes that the technology behind NFTs has matured enough to realize its full potential, which extends beyond simple collectibles. He points to developments in sectors like tokenizing real-world assets, gaming, and the metaverse as indicators of the trend continuing strongly in 2024. However, Herrera also notes that 90 to 95% of the NFT collections from the bull run may not make a comeback, with only a handful of blue-chip collections like Pudgy Penguins, Bored Ape Yacht Club, and CryptoPunks evolving into strong IP brands with value in both digital and physical realms.