Quote from: Sled on March 14, 2021, 01:49:24 PM

Quote from: IggySe7ven on March 12, 2021, 11:53:04 PM

I am wondering why are NFT tokens so hot right now?
The gains in the last week are pretty significant.
I cant imagine everyone running to play some NFT supported video game or really wanting to spend alot of money on buying digital art etc.

So is this insane rally based on Hype and FOMO?

Do you predict the price rally will cool off and retrace soon?

Last 2017 almost all altcoins/tokens are in hypes, and what we experience this time is likely the same. Not only NFT is surging high but many others did. Mind if you try to check your wallet maybe your dead coins stuck there will have a surprise on you.
I would say that our patience is worth it, and I'll be doing it again, do staking after making a sell this time.

This is not like 2017 because it is not really a currency. Bitcoin is a currency, ICO's were currency, NFT is not currency, it is art that you buy, there are tokens specially for this but those are just bought because it will be used to buy art. I am not saying 69 million dollar beeple art makes sense neither, it could be hype or it could be legit, but it is art and that is why it is not the same as 2017 and we can't really reason with it.

I do not think that Mona Lisa worths anything, it is just a semi-decent (there are people who paint better if you ask me) but people go crazy about it so it is not my place to judge someone for paying a lot for an art, people do that, art world does that, and that is how it survives. Which is why I think it is quite important to realize that NFT could be hype but could be very well legit since we have seen these kind of stuff in art before.