NFTs at an Inflection Point: A Call to Archivists, Institutions, and Blockchain Researchers
Are NFTs Really in Decline?
[April 2025] — Lately, the conversation around NFTs has shifted. News headlines and social media debates claim the hype is over, the market is down, and collectors are moving on. The numbers seem to back it up. NFT sales in the first quarter of 2025 dropped by more than 60% compared to the previous year (Cointelegraph, 2025).
But a closer look suggests something different.
Rather than collapsing, the NFT space may be evolving. The speculative phase is giving way to something deeper—a reevaluation of what these digital assets are truly for. In that transition lies a powerful opportunity, especially for researchers, archivists, and institutions interested in the cultural value of blockchain.
Beyond the Numbers: The Bigger Picture
To understand NFTs today, we have to talk about more than just the market. Global conditions—economic instability, political shifts, and widening gaps in access to technology—have all shaped how and where NFTs are used.
Not everyone has the same entry point into the digital economy. In many parts of the world, creators and collectors face barriers like high gas fees, limited internet infrastructure, or lack of exposure in dominant marketplaces. These conditions are often compounded by the socio-political realities of class and access.
So while the NFT space is open in theory, in practice, it is not equally accessible. This raises questions not just about economics, but about participation—and about who gets remembered in the digital archive.
Why Archivists and Institutions Should Care About NFTs
NFTs are more than collectibles. They are digital artifacts with built-in provenance, time-stamped histories, and global accessibility. For archivists, museums, and record-keeping institutions, that is an opportunity.
In the same way that a physical artifact tells us about a culture, a blockchain-verified NFT can preserve the creative intent, identity, and historical context of digital creators. The permanence of the blockchain means that metadata—information about how, why, and when something was made—can outlast even the platforms that host it.
Experts have already begun exploring this space. For example, blockchain has been identified as a potential tool for archiving and library science in the Fourth Industrial Revolution (Adewumi & Adebola, 2022). The technology is not just about ownership. It is about memory.
A Living Example: Atomic Lore, Lucky Star, and the Future of Digital Provenance
A compelling example of how NFTs can function as accessible archival tools is Atomic Lore, a blockchain-based platform developed by Atomic Form. Designed to bring transparency, provenance, and historical context to digital assets, Atomic Lore offers more than a profile—it offers a framework for long-term cultural relevance.
According to Atomic Form’s official about page, the organization provides “museum-grade tools” for digital art, working closely with globally recognized institutions like Christie’s and various prominent galleries. This positioning is significant. By aligning the technical infrastructure of NFTs with the curatorial standards of fine art, Atomic Lore creates a bridge between emerging digital mediums and institutional credibility.
For creators like Lucky Star, who began experimenting with AI synthesis in 2022, this infrastructure is transformative. Through Atomic Lore, their early works are presented with artist statements, metadata, provenance trails, and public blockchain records—all archived in ways that are searchable and referenceable by curators, patrons, and researchers.
This model offers greater visibility and credibility for artists whose work may not always receive attention through conventional channels. Whether due to geography, access to resources, or institutionalized structural challenges, many creatives operate at the edges of mainstream exposure. Blockchain archival tools like Atomic Lore allow these creators to be not only seen—but also formally acknowledged.
For collectors and patrons, platforms like Atomic Lore increase trust. For researchers, they offer a clean, time-stamped data trail that can be cited in academic work or institutional exhibitions. And for institutions, they present a viable means of integrating NFTs into long-term collections without sacrificing rigor.
This is what good faith archival engagement in Web3 can look like: participatory, accessible, and enduring.
Looking Forward: A Moment to Choose
We are living in a time of flux. Economies are shifting. Technologies are accelerating. And in the middle of it all, the stories we tell—and how we preserve them—matter more than ever.
The decline of speculative interest in NFTs is not the end of the story. It is a chance to ask what kind of digital future we want. Institutions, researchers, and even everyday users can help shape that future by recognizing the archival value of NFTs and investing in tools that protect their meaning.
This is not about hype. It is about legacy.
Sources & References
Adewumi, O., & Adebola, T. (2022). Relevance of blockchain technology and the management of libraries and archives in the 4IR. ResearchGate. Retrieved from https://www.researchgate.net/publication/359240749_Relevance_of_blockchain_technology_and_the_management_of_libraries_and_archives_in_the_4IR
Atomic Form. (n.d.). About Atomic Form. Retrieved from https://www.atomicform.com/about
Atomic Lore. (n.d.). Lucky Star AIHQ verified profile. Retrieved from https://www.atomiclore.io/userProfile/8189ef59-61c8-46f6-8a60-f2b13084efdf
Cointelegraph. (2025, April 1). NFT sales down as Pudgy Penguins, Milady surge in Q1 2025. Retrieved from https://cointelegraph.com/news/nft-sales-down-pudgy-penguins-milady-surge-q1-2025