I think it's a bit hard to separate the two, however: cryptocurrency had been developing a bad reputation and NFTs feel like they were ramped up as a marketing push to finally give people a reason to buy in. The large holders who want to recoup the money they put in have a lot of influence and media presence so any time you see someone like @cdixon talking up the benefits of web3 you have to remember that his company has a couple of billion dollars on the line and adjust your credulity to compensate.
I do think it'll eventually correct but never underestimate how long the market can remain irrational, or the damage which can be caused if they start getting connected in to other industries. There's a good argument that, for example, the real estate bubble was in part pumped up by the big sovereign wealth & pension funds who lost money on poor dotcom choices and were seeking new high-return investments. I really don't want to see that happen again if someone convinces them that they should go long on NFTs.
I do think it'll eventually correct but never underestimate how long the market can remain irrational, or the damage which can be caused if they start getting connected in to other industries. There's a good argument that, for example, the real estate bubble was in part pumped up by the big sovereign wealth & pension funds who lost money on poor dotcom choices and were seeking new high-return investments. I really don't want to see that happen again if someone convinces them that they should go long on NFTs.