When the people know that there is money on it, they will do everything just to jump into it and make money thus creating this hype.
When ICO has been the hype, many developers and people earned money from it and many projects too turned into a scam.
Same thing will happen to NFT's. TBH, I just don't understand why in the hell these investors are buying a pixelated JPEG art hoping that they will earn money from it. I mean I'm not good at art but I don't see the real value into most of the NFT arts out there. With regards to NFT gaming, most of them will become rug pulls or a dead game. Though some will become successful, a huge number of NFT games will be dead especially when the bear market comes.
When ICO has been the hype, many developers and people earned money from it and many projects too turned into a scam.
Same thing will happen to NFT's. TBH, I just don't understand why in the hell these investors are buying a pixelated JPEG art hoping that they will earn money from it. I mean I'm not good at art but I don't see the real value into most of the NFT arts out there. With regards to NFT gaming, most of them will become rug pulls or a dead game. Though some will become successful, a huge number of NFT games will be dead especially when the bear market comes.
It's always been full of hype. People are getting scammed big time by purchasing so-called "digital art" with no intrinsic value. Most digital arts in the forms of NFTs are simply images that can be found on the web for free. I wouldn't waste my time and money into these kind of NFTs except for digital in-game items and collectibles. The industry will be put up to the test during a long-lasting bear market. Right now, the crypto market is bearish so I'd expect interest into NFTs to decline at a slow pace. I'm pretty sure regulators will come in, as they'd want a piece of the pie. Just like ICOs were destroyed because of government regulations, NFTs will have the same fate. What matters is crypto/Blockchain tech. As long as people are able to achieve financial freedom, there should be nothing to worry about. Just my thoughts
