CryptoPunks, BAYC Bounce Back: Is the NFT Bottom In?

NFT art remains divisive, with critics blasting it as worthless. Global NFT sales are a fraction of their peak. Blue chip collections, including CryptoPunks, have shown signs of recovery. The record-breaking $69 million sale of Beeple's The First 5,000 Days in March 2021 catapulted non-fungible tokens (NFTs) into the mainstream consciousness. This landmark event ignited a frenzy of activity, leading to the launch of countless new NFT collections.  However, the initial excitement has since waned substantially. Prices and trading volumes have plunged, and blue-chip collections like CryptoPunks and Bored Ape Yacht Club (BAYC) have diminished their appeal. Yet, a

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