Not all NFTs are red, just the utility PFP sector, floors on many art collections up tremendously. Let me break down the root issue here: It is that vast majority of holders of these collections do not value the piece for what it is, a collectible and access token. They still treat it just as a token of speculation, trying to tie value to future drops/tokens/staking/equity, prior ATHs that occurred during a very different time. The bubble has burst on this type of speculation and prices will keep dropping until the price = value to the holder as a collectible. This is why digital art has and will continue to do well. It found its bottom where the only collectors left were the ones who valued it for what it was.. just art. And now the pie of those who recognize the long term importance of digital/network art is growing. Many of these teams are very, very good. It is BS to say that prices dropping is on the team here, especially for the top 5 or so projects - they are doing dope shit. Great team, Wrong Community (there are subsector of the communities that do value them as collectibles at this level, but not nearly enough to fill a 10k collection).