The NFT craze is intensifying these days, and they are gaining more and more momentum. Willy Woo dropped an interesting message about them on his social media account, and you can check it out below.
NFTs are not in a bubble, not yet. Once they get fractionalised and traded with derivatives at scale, now that’s when it becomes a bubble.
The scenes from The Big Short and the 2008 housing collapse can equally be applied to NFT markets of the future.
— Willy Woo (@woonomic) September 5, 2021
Someone hopped in the comments and said: “The crypto market behaviour is very emotional. People tend to get greedy when the market is rising which results in FOMO. Also, people often sell their coins in irrational reaction of seeing red numbers. We try to save you from your own emotional overreactions.”
Another Twitter user said that “NFTs are just too diluted at this point. Market goes through the faze, where scams are not gonna get up again and good projects will thrive sooner or later. Bubble is when scams are fake launches get more attention then real artists.”
3 hot NFT trends happening right now
We earlier revealed some of the most popular NFT trends that are happening in 2021. We suggest that you check out our previous article in order to check them out.
NFTs are gaining massive momentum, and they are definitely seeing a strong resurgence these days.
After they were able to generate $2.5 billion in sales during the first half of 2021, the sales volumes for the blockchain-based digital deeds of ownership dropped amidst the growing crisis of the environmental impact that Etehreum has.
Now, for a few weeks. NFTs are back, and they are bringing various projects and trends that are grabbing headlines.
Stay tuned for more news and make sure to keep your eyes peeled on the crypto market.