The NFT space seems to have supercharged pump-and-dump dynamic. While previously the grift seemed somewhat bound to technical people and early(ish) adopters, NFTs have brought in a tidal wave of "creators". The amount of hand waving in the NFT "chill and shill" Twitter spaces is such that I imagine arms are being dislocated from shoulder sockets.
With respect to DAOs, I still believe this is the most interesting crypto related innovation since smart contracts/dApps. I hope that the eventual bursting of the bubble doesn't throw this baby out with the bathwater. The democratization of capital raising, free flow of capital across jurisdictions, and rethinking of governance strike me as good things for all of humanity.
NFTs lower the capital required to "pump" because each token is one-of-a-kind and can be pumped individually. You also don't have to convince a bunch of people that your coin is going to be a valuable, new, currency (as with ICOs). Just that this single collectible (or "collection" of collectibles) is valuable. It helps that collectibles in general are experiencing a bull market (see Pokemon cards).
With respect to DAOs, I still believe this is the most interesting crypto related innovation since smart contracts/dApps. I hope that the eventual bursting of the bubble doesn't throw this baby out with the bathwater. The democratization of capital raising, free flow of capital across jurisdictions, and rethinking of governance strike me as good things for all of humanity.