I think I agree with you. They were new and were grossly affected by bad players. There was a lot of hype during the bull market in 2021, but with the inception of the bear market a lot of people saw that their defi projects were all hype and nothing sustainable at all.
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Indeed! There was nothing sustainable about them. Sustainability is what DeFi projects have to focus on before the bull market comes again. It has to be more than just hype next time around.
I think we might get to see the influx of NFT and defi again during the bull market, it's inevitable.