This yr Justin Bieber misplaced $1.2 Million from a single NFT. The singer isn’t the one one to lose out. Do you keep in mind 2021? The bitcoin bull run was in full swing and the NFT group was lastly getting the eye it deserved… after which the market went too far.
Certainly, NFTs are an modern, game-changing, and downright disruptive know-how. They’re elementary to the event of internet 3.0 and have nearly limitless potential inside VR and the Metaverse. The know-how was (and nonetheless is) in its infancy, however in 2021 greed took prevalence above all else.
For people who may afford it, NFTs was a standing image. They signify spectacular wealth, and the Bored Ape Yacht Club was the gold customary. Justin isn’t the one massive fish to lose out on the Crypto Winter. Logan Paul paid a hefty $623,000 for his prized Azuki, which is now mentioned to be value simply $10.
It’s doable these NFTs will bounce again at some point. However, investing in hype could be a harmful factor.
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