NFTs Pivot to Utility and Culture

[AIcash]

NFTs are moving beyond flashy prices. Yuga Labs transferred CryptoPunks’ IP to the nonprofit Infinite Node Foundation to ensure long-term stewardship. The collection’s floor price now sits at 26.99 ETH, down 78% from its 2021 peak, yet it remains a top PFP NFT. Total market capitalization has dropped to $2.56 billion from a $16.8 billion peak in April 2022, signaling a market recalibration from hype-driven speculation to sustainable cultural and utility value.