As the title suggests, I got into NFTs in December 2021. I’ve seen a lot of ups and downs up until April 2023, and now I’m just holding back on investing in any jpegs while I wait for some movement in crypto next year. What are you all doing?
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Yes, NFTs won’t increase in value without either:
- New ideas in the market (which has started with Video Game NFTs)
- The return of a crypto bull market
MysteryMaverick said:
Yes, NFTs won’t increase in value without either:
- New ideas in the market (which has started with Video Game NFTs)
- The return of a crypto bull market
Exactly, just like in 2021, we might see another spike in 2025. Just be ready for the ride this time and don’t miss the big boom!
MysteryMaverick said:
Yes, NFTs won’t increase in value without either:
- New ideas in the market (which has started with Video Game NFTs)
- The return of a crypto bull market
So far the bull market seems to have started, and meme coins like PEPE and SHIB have already jumped 10 times in the last few months. NFT tokens have only increased about 2 or 3 times so far. I wonder when they will start going up. It’s frustrating that useless meme coins are outperforming NFTs right now.
So far the bull market seems to have started, and meme coins like PEPE and SHIB have already jumped 10 times in the last few months. NFT tokens have only increased about 2 or 3 times so far. I wonder when they will start going up. It’s frustrating that useless meme coins are outperforming NFTs right now.
We’re still very early in the bull market.
NFTs are actually doing well on Bitcoin (also known as Ordinals). NodeMonkes have even surpassed Bored Ape Yacht Club in value.
Solana NFTs are stable, but Ethereum NFTs are struggling. Looks like people are getting tired of the ETH gas fees.
We’ve also seen some NFTs switch blockchains. As connections improve, we might see more Ethereum NFTs move to Solana.
We still have over a year left in this bull run, which gives plenty of time for NFTs to rise.
I’m slowly gathering NFTs that I believe in. I’m keeping some money aside since I expect a big drop in crypto that could lead to a quick sale. But other than that, I’m accumulating the ones I like.
If you’re waiting for momentum, you might be too late. There are great deals available now, especially in the art space. (People who say art NFTs are worthless just don’t get the art market. Art NFTs will last over time. You just need to choose the right artists.)
For example, MoMA just launched a big project with 15 well-known NFT artists. Some of them have NFTs available for less than $100, if you know where to look. Just one example.
I’m not saying you should buy these specific 15 artists, and I’m not pointing out any specific artist or blockchain or project so that people don’t think I’m promoting my own interests. I’m just saying that if you pay attention to what’s happening and if you have a reasonable plan (like, there will be great digital artists in the future and some of them are not well-known today but selling for cheap and we can see where they’re headed) then now is the right time to buy.
Just be careful not to buy random stuff that you don’t understand and can’t explain clearly why anyone should care about it 10 years from now.
I’m holding back from buying right now. I’m using this time to learn more about interesting NFT projects that have real use. Right now, I’m looking into Weaver Labs Cell-Stack, where NFTs are used to digitize telecom assets for better monetization and sharing.
coingenius said:
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That sounds interesting. I’m just waiting for next year to really jump in!
I’ve thought about investing in crypto while the markets are low, but then I remember it could drop to nearly zero for various reasons.
I haven’t bought any NFTs lately and I don’t plan to in the next few months. I’m focusing on projects that use the tech in smart ways like Weaver Labs, which is using it to tokenize telecom assets to improve connectivity.
You’re probably talking about jpeg NFTs. For me, there are many other NFT types with real uses that I’m watching closely. The most important one in my opinion is Ocean Protocol’s data NFT, but there are also medical record NFTs, public asset NFTs, and more. This area of crypto has a bright future, in my opinion.
This could be the best time to buy NFTs in history besides the beginning of the first bull run. Right now, you can tell which NFTs are still active, so you know which ones will last. You just need enough money to buy them. If I could grab a bored ape or a pudgy penguin right now, I would, but I already have some good ones.
All your NFTs will drop to zero.
Why? No real use.
They are just links to jpg images, nothing more.
Better to hold btc or eth.
DanBurn said:
All your NFTs will drop to zero.
Why? No real use.
They are just links to jpg images, nothing more.
Better to hold btc or eth.
If you owned any Yuga assets, you would have already seen their use… plenty of it. I like your strategy with BTC and ETH, but also consider blue chip NFTs.
I’m not buying any NFTs at the moment due to low activity and excitement. Instead, I’m using this time to learn how to create Data NFTs and earn passive income from them on the Ocean Protocol data market.
@Corwin
What is that?
Conley said:
@Corwin
What is that?
It’s a new way to make use of data with NFTs. When you publish a dataset in Ocean V4, they create a new NFT as part of the process. This data NFT shows you own the base IP. Here is how to use the Data NFTs.