I've been watching the NFT scene explode and many making hundreds of thousands and some millions just by flipping NFTs.
However we've seen prices of these NFTs start declining rapidly and floor prices starts dropping. A clear example is SANDBOX land ... from a height of 3.8 ETH or more, its now dropped to an average of about 1.7 ETH. For those who sold at the top they would be the lucky few.
Do you think NFT bubble is about to burst ?
My personal opinions is that NFT is about to diversify into something way much more. My guess is Financial NFTs !
I guess we would see more of NFTs which is able to produce yield such as what LOOP is about to offer.
It becomes something like a bond where you lock in your tokens with a "guaranteed" return.
These are just some of the FNFT which would or could be coming out. I would guess other products like insurance or perhaps a stock/crypto index could be attached to an NFT and be sold as a yield making NFT.
That's how I would look at NFTs in the near future and most likely I would see more value into getting these kind of NFTs.
Have you found any cool FNFT projects yet ? Do share ...
Cheers all and have an amazing day ahead !!
Posted Using LeoFinance Beta
NFT prices were never rational, so interest rates aren't going to change anything, especially since we already had high yields on farming crypto anyway. I buy NFTs when I want to support the artist or when the project is fun. Somehow I've been lucky enough to make a profit, mostly by selling one at the top of the hype. The example Taleb mentions here seems to be a case of lazy marketing, or so I've heard. When prices are based on hype, you need to keep promoting the project you invested in.
Taleb has become a crypto hater since he had a disagreement about Covid with Saifedean Ammous, the Bitcoin Standard guy. So don't take him too seriously here (and don't take Saifedean seriously at all, but that's a different story).
yea .. these tweets are just a bunch of FOMO and FUDs .. i do agree with you that NFT prices are just crazy and I really don't know how to play in that flipping game. Supporting artists is great .. however I find myself questioning which artists should I support as well as there are so many great artists out there .. and funds is the limitation.
Posted Using LeoFinance Beta
I think nft are worth something. But surely not these exorbitant prices. The bored apes sell for a shopping mall, doesn't make sense. But there is a price for everything, including nfts. It's really hard to justified. Perhaps treat nfts like some membership, lottery prizes, offer extra incentives. But it still needs to be a reasonable price !
Agreed .. I just don't understand it at this point. But if its an FNFT .. now thats something much easier for me to follow.
Posted Using LeoFinance Beta
Your content has been voted as a part of Encouragement program. Keep up the good work!
Use Ecency daily to boost your growth on platform!
Support Ecency
Vote for new Proposal
Delegate HP and earn more