2021-12-17 22:51:30
Hope you folks are enjoying that vid!
Just wanted to quickly bring your attention to this poll that I ran yesterday:
https://twitter.com/coinbureau/status/1471509317543096338
It was the closest poll that I have ever held on Twitter which is quite interesting to me.
Therefore, I thought it was quite fitting to give a bit more perspective on my view about the NFT space currently.
I think that there is truth in both statements.
There is a lot of junk in the space right now. It's being shilled everywhere from Twitter to YouTube & Facebook. There also appear to be a number of celebrities that are looking to make the most of the craze by selling their NFTs.
To me, it looks a lot like the ICO mania of 2017. During those times, nearly every single startup & celebrity was trying to issue their own token. Most of these projects went to junk (over 95% of them)
However, during this boom you also had ICOs from the likes of Decentraland, Binance, Filecoin, Polkadot and many others. These cryptocurrencies have returned their investors many multiples over the past 4 years.
So, if we were to draw parallels with the mania back then, most of the NFTs that you see being shilled are going to go to zero. They will end up being nothing more than a jpeg the developers paid someone on Fiverr to do.
However, I think that the demand for some of the more established "blue chip" NFTs is only just beginning.
That is especially the case now that we have institutional investors jumping into the NFT space. In fact, just recently we had the news that BitWise is launching a "Blue Chip" NFT fund:
https://twitter.com/Matt_Hougan/status/1471489244824674306
Institutional and accredited investors will now be able to get exposure to these assets for a much lower ticket price than some of the more expensive collections are going for. The minimum ticket size here for US investors is $25k for example.
As you guys know, I own a few Mutant Apes and am looking to allocate to more collections in the new year. There are also some exciting virtual land NFTs that I am looking into (covered in my recent video).
I will be talking more about the institutional NFT move in my newsletter this week but I thought it would be interesting to just give you my perspective on the space right now.
Have a great weekend guys!
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