No way are we near the top in the NFT space. This thing is just getting started. I can SMELL it.
They are now talking about it on late-night comedy shows and have brief mentions in MSM. It is picking up steam, not exhausting it.
NFTs, the next wave of stupidity
- Thread starter Pekelo
- Start date
No way are we near the top in the NFT space. This thing is just getting started. I can SMELL it.
They are now talking about it on late-night comedy shows and have brief mentions in MSM. It is picking up steam, not exhausting it.
This is very important point
I had a chance to trade all my NFT's a few weeks ago and get a floor BAYC, I can still do it now, but it would require additional capital outlay
Anyway, if we get a parabolic top on this bull market, I most likely will get a BAYC to hodl for a long time
Store of value as you said, but I'm targeting a Bored Ape rather than a punk for the simple reason of constant "development" and partnerships (i.e. Adidas) bringing more value to the community
There was recent talk of Ape flipping the Punk, maybe the price floor, or sales volume, haven't looked into it in more detail
I really liked this NLW episode today on NFT's If you have time, I think it's worth a listen, and does not require visual
Thanks, Im sure it's a good listen but I actually stay away from NFTs. Already have a hard enough time trying to keep my sanity with crypto.
The NFT game is dangerous and very hard. Aside from just getting lucky, it requires full time commitment & more. And as you know, liquidity dries in an instant on a whim. And that's without the project scamming/rugging.
I've dabbled in it, made mostly bad purchases. Last NFTs I bought were Magicats, sold half of em to get initial & profit, holding the rest to see the DeFi utility that will be added to them.
I like gaming NFTs, but that also requires significant time commitment. Maybe some day. For now I just prefer exposure with the gaming token.
I don't see the more applicable value creation of NFT tech coming out this bull cycle, the crypto crowd is not seeking that right now.
So is religion. That doesn't mean it makes sense. You run out of battery life or electricity, what happens to your digital collection?
I am not against collecting, you should see my penny collection. (joke, for making a point) But I am not claiming it is incredibly VALUABLE or UNIQUE, as owners of NFTs do. NFTs are NEITHER.
1. Why does it have to make sense? Basquiat's work is objectively crap yet worth millions. Banksy's creative used to laugh & practically vilify art snobs putting high values on their street art and....? Bathing Apes pieces literally make fun of rich kids spending so much money on streetwear, yet those only go up in price.
2. Battery life running out on your device is irrelevant, the NFT lives in the blockchain, and as long as internet is up, it's there. You will much have much bigger problems to worry about if the internet goes down on a massive scale for any extended period of times, let alone electricity going out.
3. Your & my opinions on value of NFTs are completely irrelevant. These are set by social consensus. And as long as enough ETH whales & crypto rich kiddies are willing to treat them as valuable, they will be valueable. Or are you really so committed to proving to yourself & everyone else your standpoint on the matter that if you got gifted a Cryptopunk you would just ignore it and not sell it for hundreds of thousands or millions of dollars?
1. Because it is fucking TECHNOLOGY, not art.
2. You didn't get my point. It is electricity based, without that it doesn't exist.
3. Sure because I am not buying it. They want it to be valued high, but if we can convince people just how UTTER BS an NFT is, it will stay valueless. I mean normal people, not complete morons.
Would you mind finding another example from history when an easy to make, easy to copy, completely not unique thing had a high valuation for an extended period of time?
No such a thing, my friend...
Nor do 90% of us Pek... at least after 3 months.
Probably easier to survive where solar panels are most efficient, saying that, log cabin dwellers in the far north survive somehow.