I opened up X this afternoon and I saw a photographer tweet that he hadn't sold a single NFT in the last four months. His conclusion: The NFT market is dying, if not already dead. There are no collectors left. Damn.

I'm sure it probably feels this way to most. But the reality is that there are a lot of asset classes that feel this exact same way today. (I know that many of you will contest whether NFTs are actually an asset class.) There aren't a lot of buyers out there right now.

But that doesn't necessarily mean that the NFT market, in particular, is done with. In fact, if you look around, there are countless signs that point to the opposite.

I, for example, find it interesting that if you're an architect or a city planner in the US, and looking to check off some continuing education units, you can now register for a course at Harvard called From Crypto to the Metaverse: Blockchain Applications in Real Estate.

And if you look at the learning objectives, it includes things like demystifying how Blockchain technologies work, how they might impact real estate businesses in the future, and what opportunities they may create. This suggests we're still early.

Right now just feels like that time in the cycle that tests both your conviction and your discipline. It's easy to believe in something when everyone else does. But what about when most people don't?