Some people are spending millions of dollars on NFTs like crazy these days.They buy so-called NFT art sold out for ten million of dollars (USD) as their Avatars of social platforms.
It sounds ridiculous,which is exactly its charm.
For what I know, crypto behaves in strange and bizarre ways. First it was the ICO hype. Then came the "De-Fi" hype. And now it's the NFT hype. Who knows what the next big thing in crypto will be?
Yeah, we do see daily that millions are being spent for NFTs but I suspect how many are within accounts. I mean people may try to manipulate by self-buying so that real millionaires and naive investors may change their mind. Even this is an old practice, when it is happening in big numbers lead me to worry on this. Because, I do not want to see fellow crypto investors to be the last buyer for any of fake hyped NFT. Still, it must be individual's responsibility to stay safer with their crypto stash.