A look at the NFT industry

As a person who has been in the crypt for a long time, I see a certain cyclicity. It’s about NFTs. Those who were on the market in 2016-2017 remember the rise of various ico projects that promised mountains of gold, but in fact 90% of these projects have now sunk into obscurity.

About a new stage in the development of this scam culture — NFT collections on marketplaces

At that time, almost all newcomers thought it was like stocks. Here, you buy BAT for 30 cents, and Storj for 5, and in the end they will cost at least $ 1000. As a result, you changed your crypt for candy wrappers. By the way, unlike the others, BAT and Storj are still afloat and seem to be doing something according to their roadmap, perhaps, but I don’t follow. Before ico, there was a boom of various bitcoin forks, each of which added a “chip” to their project and presented it as a “bitcoin killer”.

Now there is a new stage in the development of this scam culture – nft collections on marketplaces. Immature minds on the wave of hype buy pictures, videos and 3d models for 100 ethers in the hope that they will cost 10 times more.

Bad news, gentlemen. If you don’t see the sucker in the diagram, it might be you.

But, here is a channel about technology, so I’ll add a spoonful of honey.

The scam ico boom has led to the development of this technology and the emergence of a cloud of really useful projects and decentralized exchanges serving them. to the whole infrastructure. So is the nft technology, which, in itself, is very cool, allowing, using your private and public keys, to confirm ownership of something, whether it be a car, real estate, land, art, etc., will certainly develop. There will be really important and interesting projects that will move decentralized networks forward.

And scam collections that cost nothing and for some reason are sold for a thousand ethers apiece – you don’t need this, take a screenshot: in half a year they will sink into oblivion, to those icos that no one remembers anymore.

An important caveat: here I am talking specifically about collections like The Bored Ape Yacht Club, which do not carry any value in terms of technology, since there are projects that are really important for society and for decentralized nft networks.

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