While there is no doubt Crypto space is facing a repeating downturn cycle aka "crypto winter" to a great extent, NFT would weather possibly better than the liquid assets. To put it simply, NFT as of now is still primarily associated with art or digital assets, it's the "soft" asset in crypto. It's art, it's more of the social and culture and it has much "inefficient" market and it's not a sophisticated financial product like derivatives and options compared to the fungible tokens and defi products which are highly tradable or easy to liquidate. So that in a way, that already slowed the growth of NFT in the hyper-bull run 2021 and also will prevent it from the cascading effects and contagion from the liquidation downfall event that's hurting the crypto market broadly. Certainly, NFT will face decline in volume and price as well as the pain of the bear markets while the sentiment is low, fear is high and risk curve is flatten across the board alongside macro economic concerns. LK Shelley would like to openly discuss and share thoughts in a panel discussion with other industry participants and leaders in the field.