NFTs, the next wave of stupidity

[mlawson71]

Note the NFT space right now pretty much ignoring BTC price action & the fear around it.
Unfortunately, I don't have the "skills" to capitalize on that action but I do find it very interesting.

Huh, I didn't know that. Why is that, actually?

 

[Sprout]

Huh, I didn't know that. Why is that, actually?

Thin market, little liquidity after a hype launch. Folks are more comfortable hodling something emotional to look at vs dumping below floor. Folks selling below floor are noobs whom thought hodl would go to the moon instantly or flippers getting their liquidity back out. Flipping is very fast paced. You can see them reduce their listing price every 1-2hr until they can cash out.

 

[mlawson71]

Makes sense.
And everyone and their mom seems to be jumping on that bandwagon. Even, big, legitimate gaming companies like Square Enix recently announced they'd be using NFTs. Response from their clients, as you can imagine, has been very negative.

 

[RedSun]

There is gold on the Wall Street that no one wants to pick up and polish.

Yes, there is some bread crumb on the street, and all the hungry souls want to get a piece....

There is still easy money be made.

 

[Tokenz]

There's a big demand for NFTs in the Metaverse. A lot of people see this as 'stupid expensive art,' but once the Metaverse takes off there is no stoping the price of NFTs from reaching new heights.

Learn to adapt or get left in the dust

 

[mlawson71]

Perhaps. I'm certainly keeping an eye out, but I think a healthy dose of caution is not a bad thing.

 

[Pekelo]

There's a big demand for NFTs in the Metaverse.

There are a bunch of idiots in the Metaverse. A fool and his money...

FTFY

Even if there was demand, supply is literally limitless. So apply economic sense and see what you get.

 

[RedDuke]

There are a bunch of idiots in the Metaverse. A fool and his money...

FTFY

Even if there was demand, supply is literally limitless. So apply economic sense and see what you get.

it is limitless indeed. Monkey in hat and green eyes, monkey no hat with red eye and etc, the combos are infinite

 

[Sprout]

There are a bunch of idiots in the Metaverse. A fool and his money...

FTFY

Even if there was demand, supply is literally limitless. So apply economic sense and see what you get.

True, that's why those that have a place in art history and provenance will separate those that have durable value from those that are the current crop of hyped remixed money grabs.

 

[Sprout]

it is limitless indeed. Monkey in hat and green eyes, monkey no hat with red eye and etc, the combos are infinite

It's a bit ridiculous. we need a bear market in this space.