If the Bitcoin four-year cycle is still intact and the cryptocurrency hasn’t entered a new paradigm, we’re coming close to the end of the bull phase and can expect to enter a bear market in 2026. Judging by prior cycle peaks, experts are predicting the “banana zone” for Q4 of 2025, where altcoins outperform BTC.
Last time out in 2021, during this mania phase, NFTs stole the headlines and offered the potential for huge gains for people who jumped on them early. However, they’ve been quiet in this cycle. Will they bounce back, or has the focus shifted elsewhere?
NFTs Went Wild in the Previous Bull Run
A major sign of crypto euphoria at the end of the four-year cycle is when it starts to spread into the mainstream. In 2021, NFTs were touted by famous singers and sports stars, and there were even related games based on them.
For example, at Betfair casino & slots, NFT Megaways was released to take advantage of the NFT hype in the crypto market. The game features Crypto Punks on the reels, and also nods to major cryptocurrencies like Bitcoin and Dogecoin.
There were also NFT-themed offerings in other media, such as the Netflix offering, NFT:WTF? These entertainment titles signified a mainstream shift for the crypto market, with everyday retail investors starting to give it attention. However, interest died out after the peak of the previous bull run, and NFTs have struggled to gain traction again in the years since.
Main Focus of This Cycle Has Been Memecoins
Instead of NFTs making a triumphant return, they have been replaced by memecoins this time around. These are tokens with much smaller market caps than the main players like Bitcoin and Ethereum, often based on mainstream events or popular culture. The fact that Donald Trump released his own memecoin and then inspired other celebrities to follow suit highlights how these tokens have replaced NFTs for the time being.
The problem with memecoins is that they tend to be pump-and-dump schemes, with their founders often profiting from duping people into investing before rug-pulling them. Most of them serve no purpose other than this, which makes them inferior to NFTs. NFTs do have a function, and they could play a huge part in Web3 in the future.
Some NFTs Now Developing Their Own Ecosystems
Even though NFTs aren’t stealing the headlines at the moment, they could be preparing for a grand return in the coming years. Some of the leading NFT chains are now developing their own ecosystems that span other merchandise and tokens.
For example, Pudgy Penguins now has the Pengu token and has also been integrated into the new Solana handheld gaming device. This could be the next stage of the evolution of NFTs, where they start to serve a more obvious purpose than before.
There’s a chance that NFTs could capture mainstream attention again at the end of this cycle, but at the moment, memecoins are stealing the limelight. NFTs will be back in the future, though, as they have functions that will be useful in the online ecosystems of Web3.
