Yea most of the influencers are getting in early and also letting their followers know. I don't know if its the greatest thing since I predict a bunch of them will lose money since most of these NFTs have no utility.
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Many NFTs have no utility, but neither does fine art. Buyers keep buying fine art.
People buy things because they perceive value in them, and sometimes that value can't be measure in money. Psychic value cannot be underestimated.
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I can't seem to believe in the value of psychic value. So I think I will stick to gaming NFTs with utility for now.
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Psychic value is just as real as money value. On occasion, it's even more important than money value. First-mover advantage is the best example of psychic value because it offers something money can't buy.
We buy what we buy or do what we do because of things such as good feelings, staus, ego, health benefits, personal gains, etc. We all rely on psychic value to a degree, even if we don't recognoze it. This very contest is another example of psychic value being used.
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It is going to be interesting to see how all of this unfolds. Much of what is out there has zero utility. We are going to see a great deal of stuff crash.
That said, those who seek utility will probably find some really good bargain. It will, as always, require going for quality.
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Things will shake out over time as the bad stuff is filtered or sifted out of the universe of cryptos. After that, the survivors become the established players as a new crop of cryptos rises.
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