By 2026, the story of NFTs should have long been over.

Many NFT projects that once sold for astronomical prices have now fallen into obscurity as mere images; project teams have awkwardly exited amid waves of transformation, sales, and shutdowns; the once grand NFT Paris also announced its cancellation and got entangled in refund disputes. During several years of decline, hot money withdrew, narratives shattered, and "NFT is dead" has almost become the market's consensus.

But this week, the NFT market suddenly showed signs of rebound—prices are rising, and trading volume is increasing. Is this serious? What are the players who are still holding on doing now?

Unexpected Turn in the First Week of the New Year

Entering 2026, the long-silent NFT market finally shows signs of recovery. According to on-chain data, from the beginning of this year to this week, the overall market cap of NFTs has increased by over $220 million. More detailed price tracking indicates that in the past seven days, hundreds of NFT projects have seen price increases, with many projects even recording triple- or quadruple-digit gains.

For participants who have endured years of bear markets, this kind of market feels like a dream. The expectations that were repeatedly shattered by reality have been reignited this time.

Honestly, though, this rebound is still a drop in the bucket compared to the all-time highs. There are still many unresolved issues in the market—will this rebound last? How low is the bottom? Is this a genuine recovery or just a short-term emotional fluctuation? Perhaps only time can tell.