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Doubts about the non-fungible token (NFT) market’s ability to recover following Bitcoin’s April halving event were revealed in a recent survey.

In a survey conducted by CoinGecko from June 25 to July 8, which examined 2,558 crypto participants’ responses in its Post-Halving Sentiment Survey, some 54.1% of respondents don’t expect NFTs to make a comeback in the near term. Some 29.5% “strongly” disagreed that NFTs will recover in the current cycle, while 24.7% felt bearish toward the segment to a lesser extent.

Only a minority of 19.4% of respondents were optimistic about an NFT resurgence.

“This seems to suggest a bleak outlook for NFTs in the immediate future, with the crypto market’s consensus expectation leaning towards a continued NFT winter for now,” the researchers wrote, noting that new and experienced crypto participants, in general, don’t believe an NFT market recovery in the currency cycle.

Crypto participants were segmented into four categories, namely investors, traders, builders, and spectators.

Builders and spectators were notably more optimistic about NFTs recovering than investors and traders. While nearly 30% of builders and spectators believed in a near-term NFT comeback, only 17% of investors and 21% of traders shared that sentiment.

Gaming, metaverse NFTs remain popular

Amid a grim outlook, respondents are divided on the best use case for NFTs, with gaming and metaverse items emerging as the most popular, favored by 17.2%. Memes, profile pictures or avatars, and art also garnered notable interest. However, the hype surrounding other use cases like membership access, domain names, and redeemables has waned considerably.

Overall, A significant portion of the community, 36.9%, remains bearish or apathetic toward NFTs. Some participants suggested alternative use cases not included in the survey, such as Bitcoin Ordinals, artificial intelligence (AI), airdrops distribution, ownership fractionalization, and intellectual property.

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