NFT market held back by oversupply, greed and bad projects

Gary Vaynerchuck, commonly known as Gary Vee, is a well-known businessman and a supporter of NFT. He has suggested that the main causes of the NFT market's steep decline over the past year were overstock, greed, and substandard projects.

Do you agree with that?

I believe that many NFT projects are copy-paste, there are many projects that lack quality, that appear to have been created overnight only to try to make a profit, and that there is a lot of junk on the NFT scene and like no one has actually thought about the needs of users or whether all these projects are even necessary.

WAM is currently my favorite NFT project, and in general, the only NFT projects I can claim are excellent are games. I don't have any regular NFT collections that I can single out as my favorites.

Vaynerchuck emphasized that there has been a lot of FUD (fear, uncertainty, and doubt) coming from the media and social media users this year, who have regularly brought up issues like decreased trading volumes and floor pricing, in his appraisal of the market's predicament.

He brought up his previous prediction that "98-99% of NFT ventures" that gained traction during the NFT boom in 2021 will either turn out to be bad investments or "go to zero." Which project comes to mind that ended this way?

What do you think where are NFTs going in 2023?