The Dotcom era was an era where a lot of tech startups based on the internet where being invested into, unfortunate this didn’t end well for them. Just as we are witnessing the crypto era and looking forward to being early investors, lots of people thought the same way during the Dotcom era. People invested because they wanted to be early investors hoping hey can make quick bucks in the future. Here we are in the crypto space and lots of people are beginning to have the same feeling. But crypto stay proving that it is inevitable over the years.
Lets look at the market crash, the current crypto market crash is more than the Dotcom crash, in less than 2 years, crypto market crash has wiped over $1.5 Trillion off the market. If crypto was to be dead, now would have been the time. This crypto crash got a lot of projects crashing and a lot of projects striving, lots of them have gone under based on over expectations and over leveraging. Some of them must have given up and some of them have gone back to their drawing board to re-strategise during the bear market. Some came with good intentions but with bad planning, where they spent most of their money on wrong things. Like people who spent huge amount of money on super bowl adverts, but unfortunately the bear market has humbled them as most of them have laid off their employees. You hear different companies laying off over 10% of their staff because they don’t have enough liquidity, they over leveraged, they over spent.
But we have the ones who are successful and making a lot of money even during the bear market. For instance we have Binance, FTX and the rest who are willing to rescue sinking crypto projects. According to CZ the CEO of Binance, he said the company had to turn down a lot of offers because they felt it wasn’t necessary, this has helped them save a lot of money. Imagine Binance removing bitcoin trading fees from their platform in this bear season while lots of companies depend on those fees right now. Binance hired some of the top faces of social media to be their ambassador, they also employed over 2,000 more staff while other companies laid off staff.
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The innovation of this era is similar to that of the Internet. For that reason, it is sensible that we saw the same hype. Of course, it is inevitable that things will pop, especially in areas such as NFTs.
Posted Using LeoFinance Beta
NFTs are definitely over priced, their utilities are great but not the value.
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STOP