Just saw Yat Siu from Animoca Brands weighing in on the whole 'NFTs are dead' narrative that keeps circulating, and honestly, it's a perspective worth considering. The thing is, when people say NFTs dead, they're usually looking at the broader market noise and retail speculation that collapsed. But that's not the full picture.

What's actually happening is that wealthy crypto collectors are still very much active in the space. These aren't casual traders - they're serious participants who understand asset value beyond hype cycles. According to Siu, this core group continues to drive meaningful market activity, which suggests the NFT market dead narrative is more about the death of speculation than the death of the asset class itself.

The distinction matters. NFTs aren't dead for the people who actually use them - whether that's for digital ownership, community access, or genuine asset collection. The market that died was the retail frenzy, not the underlying utility or value proposition.

This aligns with what we've been seeing: while general NFT trading volume cooled significantly, high-value transactions and collector activity remained relatively stable. It's a tale of two markets - one that collapsed under its own hype, and another that quietly persisted.

So when you hear NFTs dead thrown around, remember it's usually shorthand for 'retail speculation is dead,' not 'the entire asset class is worthless.' The wealthy collectors know the difference, and they're still active. Worth paying attention to.