NFTs Aren’t Dead, Says Animoca’s Yat Siu
Posted: Thu Jan 22, 2026 12:13 am
Despite frequent claims that the NFT market has collapsed, NFTs are far from dead, according to Yat Siu, co-founder of Animoca Brands. Siu — a well-known figure in the blockchain space and an active NFT collector — argued that while overall volumes are lower than peak years, a core community of wealthy crypto collectors continues to sustain demand by buying and holding digital assets rather than flipping them for quick profits.
Siu spoke at the CfC St. Moritz crypto conference, noting that although monthly NFT sales have decreased from roughly $1 billion at the 2021–22 peak to around $300 million today, this still represents a meaningful ecosystem compared with where the market was only a few years ago. He compared NFT collectors to traditional art buyers, suggesting that for many, digital ownership has intrinsic value beyond short-term speculation.
Importantly, Siu highlighted that the market’s evolution reflects a shift in perspective: NFTs are transitioning from frenetic trading driven by hype to a space where long-term collectors and investors look for assets they genuinely value and intend to hold. He emphasized that owning digital art and collectibles is increasingly about community, culture, and utility rather than purely chasing quick gains.
Siu also acknowledged that the broader market environment has impacted NFT activity, and that prices and volumes remain well below peak levels. However, as long as committed buyers continue to participate, the NFT market maintains a foundation that could support future growth when broader crypto sentiment improves.
Overall, this highlights a more nuanced reality: NFTs have evolved rather than disappeared, with deep pocketed collectors playing a key role in stabilizing and redefining the market.
Siu spoke at the CfC St. Moritz crypto conference, noting that although monthly NFT sales have decreased from roughly $1 billion at the 2021–22 peak to around $300 million today, this still represents a meaningful ecosystem compared with where the market was only a few years ago. He compared NFT collectors to traditional art buyers, suggesting that for many, digital ownership has intrinsic value beyond short-term speculation.
Importantly, Siu highlighted that the market’s evolution reflects a shift in perspective: NFTs are transitioning from frenetic trading driven by hype to a space where long-term collectors and investors look for assets they genuinely value and intend to hold. He emphasized that owning digital art and collectibles is increasingly about community, culture, and utility rather than purely chasing quick gains.
Siu also acknowledged that the broader market environment has impacted NFT activity, and that prices and volumes remain well below peak levels. However, as long as committed buyers continue to participate, the NFT market maintains a foundation that could support future growth when broader crypto sentiment improves.
Overall, this highlights a more nuanced reality: NFTs have evolved rather than disappeared, with deep pocketed collectors playing a key role in stabilizing and redefining the market.