Connect with us

Crypto Research

NFT marketplace is quietly collapsing



The NFT market is cooling down a lot.

It is not just a bear market to bring down the NFT, it is a lack of integrity of the creators. 

To be more precise, too many creators try to gain rich overnight. Unfortunately, that kind of mentality did not serve well in the NFT marketplace, and it will take a reasonably long time to repair its reputation.

Although Metaverse is a different concept, it does not escape the rug pull effect within the NFT market.

Overreached NFTs

Owning NFTs was cool in 2021, but holding NFTs in 2022 symbols a loser. 

There are too many scammers in the space that there is no way to restrict them unless the market turns itself into a centralized market.

Decentralized NFT market

Too many exploitations of NFTs projects are presented to the market without validation.

Of course, anyone has no restriction to create their own NFTs, but that does not mean everyone can rug pull investors’ money who tried to own some NFTs.

Self-regulation is impossible in NFT 

One thing is for sure self-regulation in the NFT marketplace is impossible. 

Using decentralized technology, you cannot regulate people to post NFTs in the decentralized marketplace. You cannot track the scammers in the decentralized space and prevent creators rug pulling people. 

NFT marketplace is dying

People will stay away from NFTs because there are difficult for them to validate themselves about the NFTs.

Sorry, NFTs will probably never come back alive.

Whoever rugged people before, the internet has all records, and once the regulation catches up, you will face a criminal charge with no time.

If you enjoy reading my articles, buy me a coffee here.

Photo by Bruno Kelzer on Unsplash

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto Research

Crypto is a good investment or not



Many people buy crypto to believe it is a great investment. However, it may not be the case.

I asked ChatGPT about the crypto investment and here it is:

Investing in cryptocurrency can be a good opportunity, but it also comes with high risk and volatility. It is important to thoroughly research and understand the cryptocurrency market before investing. Additionally, it is recommended to diversify your investment portfolio and not to invest more than you can afford to lose.

Here are some misconceptions:

First, crypto is not a traditional investment that requires a conventional way to invest. Instead, it is a catch-or-miss investment that you really need to time the market to make profits.

Second, you do not need to hold for too long if you need money quickly. Crypto tends to perform badly long term than average assets did.

Third, high risk only sometimes has high rewards. Many crypto with high risks may not ever provide high returns eventually and many go to zero instead.

Last, do not go FOMO because you are likely to become a bagholder.

There is not missing out and it is too late in the crypto. Rather, you should always keep an eye on the market.

Photo by Jon Tyson on Unsplash

Continue Reading

Crypto Research

Mother of all bubble



We are heading into a bubble economy and there is one that is about to pop.

ChatGPT suggests that a financial bubble is:

A financial bubble is a situation in which the price of an asset, such as a stock or a commodity, becomes artificially inflated due to excessive speculation and investment. This can lead to a situation where the market becomes overvalued and eventually collapses, resulting in significant losses for investors. Bubbles can occur in a variety of different markets and can be caused by a number of factors, including low interest rates, economic growth, and investor sentiment.

Let’s take Tesla as an example.

Tesla CEO is Elon Musk, who purchased Twitter last year and believed the company can help Tesla to make more profits.

Does it? Or he tried to inflate Tesla instead?

If you go to Twitter, there is less opposition than a supporting voice.

Elon Musk sells Tesla cars and Tesla stocks.

People purchase cars to help pump the stock price and when stock price goes up, people want a new Tesla.

Despite all the bad reviews about the car and its questionable autopilot feature, Tesla cars sold quickly and stock goes up no question.

Is this a Ponzi scheme?

Similarly, cryptocurrency is also highly speculative.

It goes up a time to time, but people buy the narrative without further investigating how useful the crypto really is.

What if people stop buying the crypto, will that still go up?

What if the economy is so bad and the interest rate is high that people have less money to buy more crypto?

We will see how it goes.

Photo by Pawel Czerwinski on Unsplash

Continue Reading

Crypto Research

One more thing NFT can do



California will have a pilot program to use NFT to record car titles as an innovation of record management. 

ChatGPT stated NFT is:

NFT stands for “non-fungible token.” It is a digital asset that represents ownership of a unique item or piece of content, such as a digital art piece or collectible. NFTs are created and stored on a blockchain, which is a decentralized digital ledger. This allows for the creation and transfer of ownership of digital assets in a secure and verifiable way.

Finally, the government has realized the use of the blockchain, and it will reduce government spending while providing more accurate information to citizens.

I think blockchain has more utilities other than money. Digital money is the first step in testing society’s compatibility, but the blockchain should focus more on providing services rather than investing to people.

That blockchain service can be essential for society later rather than simply going to moon-style investments to create unsustainable pump and dump.

Such government collaboration is the first step to making blockchain a social system.

Photo by Coinhako on Unsplash

Continue Reading