“The truth is, if you’ve been paying attention, you know what’s really happening here – and if you’re like me, you’re not surprised," argued Vaynerchuck.
In terms of oversupply, Vaynerchuck argued that the large number of “celebrities, influencers, sports leagues, big brands and individual artists” that jumped on the bandwagon last year was bound to cause supply and demand issues. “The demand has not and will not be able to keep up with that extraordinary level of supply, and any time that happens, there’s a bubble waiting to burst.”
NFT is like altcoin in my eyes. no one regulates it and the market is destined to be chaotic
Ppl need to differentiate btwn nft tech v PFPs, bc they're not the same. The underlying tech of NFTs will continue to advance - there are simply too many use cases for it to die, imo. PFP projects otoh, are -too many -too greedy -too poorly run for most to survive. 🪦
i'm not unsure.
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So many fake apes.
Or it’s just that 99% of the NFTs out there have no value (utility), period. Even Twitters blue check mark, paying $8 or $12/month, has more value than most NFT projects - and it’s not much value right now. 😅
I agree sbf is just one of many bad players,Crypto kinda exposes bad player without the need for big time investigation.
Time to find some good deals
The NFT market will recover when we start valuing their utility as much as what the art looks like
Overpriced jpegs are worth less now?
Oversupply, Greed, and Subpar projects- rightly articulated by Garyvee.
Oddly enough, I have never heard of any of the factors
The one and only factor is that 99% of NFTs are useless. Only a good few projects offer actual utilities.