According to Foresight News, Pudgy Penguins CEO Luca Netz said at the Solana Breakpoint conference in Singapore on Friday that despite the Memecoin culture, there is still no better way to create a community than using NFTs. He said, "The reason why NFTs are currently in a downturn is that successful NFTs have too poor liquidity for whales and the prices are beyond the retail price. But cryptocurrencies are cyclical, and with the infrastructure built in the last cycle, NFTs will become larger and perform better in the next cycle."