I think for many people what gave them that perception was how DeFi and NFTs went from overperforming to underperforming in a relatively short amount of time. Both of them were new and that was they're first cycle. I believe they both have great potential when more utility and more robust systems are built in place to prevent hacks and exploits.
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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.
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.