In the whimsical world of blockchain, when you think a door is closed, another door is open. The success of NFTs only proved that.
Want to know what I keep thinking about Bitcoin?
When cryptocurrencies reach a record high of $ 69,000 on November 10thNS – People bought in because they saw the momentum and thought that they could make money quickly by buying in.
We are currently hovering for about $ 50,000 in less than a month, which is equivalent to a 28% loss.
For traditional investors, such losses would be enough to make them forever curse crypto. From some scuttlebutt I read on the online bulletin board, that’s exactly what casual investors are thinking about stepping into the crypto pool.
They just noticed that the water was a little cold to their taste.
However, this is not surprising for experienced crypto investors.
they Predict Volatility associated with these investment devices. So, while it may be a little disappointing, it wasn’t really astonishing as many traditional investors did.
Every morning, you open the Coinbase app to see what’s moving and shaking. And for many investors who are trying to stop trying crypto again, I can’t help it.
NFT is getting hot
But anyone who breaks out of cryptography now will be making a mistake.
This decline in value will eventually spike, and then the process will reoccur.
That said, while cryptography is being avoided, the creation of another blockchain is rapidly taking hold.
2021 will be historic as the year NFT (Non-Fungible Token) made the world aware of the existence of profits.
According to the blockchain data platform Chainalysis, the NFT market has exploded this year and has blossomed into a huge $ 27 billion segment of the blockchain market.
As you know, NFTs allow owners to own unique digital data linked to the blockchain. The most popular coin used to buy these digital tokens is Ethereum (ETH).
So far, the use of NFTs seems endless.
It can be packaged as almost anything digital, from collectibles and works of art to music and video game items. In addition, it can take the form of real-world items, from real estate and yachts to concert tickets and fashion accessories.
The applications these things will have in the future Metaverse will be incredibly important. NFTs are used for both business and entertainment within this digital universe.
As you may remember, a few days ago we talked about an NFT yacht that sold for $ 650,000 for use in the Metaverse.
This is not just a concept. This is an incident now..
Proof that NFTs (and blockchains) are well established
Now, if these aren’t enough to convince you that they are legal, there are traditional investment tools for those who are a little too skeptical about investing in real blockchain technology.
Recently, a new exchange-traded fund (ETF) has appeared on the market. This eliminates the need for traditional investors to actually use NFTs. Own NFTs, crypto assets, or related works.
The Defense Digital Revolution ETF, listed under the “NFTZ” symbol, includes stocks of listed blockchain-related companies such as Coinbase (COIN) as well as companies specializing in NFTs such as Funko (FNKO) and PlayBoy (PLBY). I own it. And DraftKings (DKNG).
If the NFT stays here and is looking for signs that it wasn’t as fashionable as Beanie Babies, then this EFT is just The sign you were looking for.
Currently, the market is only about $ 27 billion, but that’s for now.
I wouldn’t be surprised if it reaches $ 100 billion by 2025.
This was the connection we were looking for.
This is proof that the blockchain is staying here … and you need to act accordingly.
“I know why most people never get rich. They put that money in front of work. If you just think about work, money goes on automatically. This never fails. I will not. ” – Hedy Lamarr
Catch up with the crypto journey so far!
NFTs Increase In Value During Crypto Downturn Source link NFTs Increase In Value During Crypto Downturn