TL;DR: The NFT market has drastically declined since its peak in 2021, with most NFT collections having no value. There’s an oversupply of NFTs, leading to a buyer’s market, and environmental concerns due to energy consumption. Top NFTs also struggle to maintain value, and the future of NFTs depends on utility and genuine value rather than speculation.
Tulip mania speculated on the unknown future outcome of a tulip bulb.
How are NFTs anything like that? You can clearly see (and copy) the content of NFTs, it’s literally the opposite of tulips.