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?
Yes we can say that NFT's are hyped at this time due to digital artworks being sold in million dollars in NFT and Jack Dorsey also auctioned his first tweet as NFT.They are another new trend in the market which is boosting the DeFi projects in the chain but we can witness slow growth of NFT when this FOMO comes to an end.They have gained popularity only because of social media news and painting sold at highly extensive prices but it has no growth options.