While the broader narrative suggests the NFT market has cooled significantly, high-value transactions continue to occur in specific niches. Reports indicate that a cat-themed NFT recently sold for approximately 7 million JPY, challenging the view that digital collectibles have lost all value. This resilience suggests that while the speculative mania has faded, a core collector base remains willing to deploy significant capital for blue-chip or culturally significant assets. The market appears to be bifurcating into illiquid "dead" collections and sustained high-tier assets. Observers note that dismissing the entire sector may be premature, as capital is still rotating into specific digital assets despite the lack of a generalized bull run in the NFT sector.