My prediction: NFTs will never be fully priced out by "legitimate" transactions. As fees rise, blockspace becomes more valuable, and it becomes more lucrative to mint stuff on it.

I think there's some evidence of this already. For example, BRC-20s are horribly inefficient JSON blobs that have no reason to be human-readable. The same information could be stored with less than half the space. But the point of the BRC-20 minting process is to effectively burn blockspace, so the inefficiency doesn't really matter. Fees are irrelevant to some degree.

Another example is with the NFTs. You can have NFTs on any alt-chain really, but there's a specific interest in Bitcoin because it's the only chain whose blockspace is truly scarce. If fees were the limiting factor then we'd see a thriving NFT ecosystem on BSV. I think a lot of Bitcoiners misunderstand these market dynamics, and say silly things like "just move it all to Liquid" as a result.

It's actually kind of interesting TBH. We all know about Bitcoin's famous 21M cap, but less thought has been given to the scarcity of blockspace and what that entails. Interested to see where these crazy experiments end up.