Yat Siu, co-founder of Animoca Brands and an avid NFT collector, asserts that the NFT market remains active. He highlights a dedicated community of owners who acquire NFTs for long-term possession rather than quick sales.

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Two former executives of California-based Theta Labs have filed lawsuits alleging that CEO Mitch Liu manipulated cryptocurrency markets, including inflating prices of Katy Perry-themed NFTs. The suits claim fraudulent practices like fake bids and misleading partnerships, amid the company's cryptocurrency plummeting from its 2021 peak. Theta Labs denies the allegations, calling them attempts to secure a settlement.

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