The idea that NFT grails are priced in USD instead of ETH feels like a bear market narrative.
Value is interchangeable instantly. ETH, USD, stables, etc. it doesn’t matter.
What matters is wealth.
Art is upstream of wealth. Ethereum art is upstream of Ethereum wealth.
Bearish ETH is bearish NFTs. Bullish ETH is bullish NFTs.
If ETH goes to $20k, I suspect the USD value of the best NFTs goes exponentially higher, and many of them rise in ETH terms too.
Nothing is more bullish for NFTs than ETH.