NFTs Will Drop 50% More: Why, and How to Profit

NFTs Will Drop 50% More

2022 started with the most explosive bull market we’ve ever seen for NFT’s. Some would say it was the peak of NFT’s as we know it, and in a somewhat ironic way, I think the end of 2022 is going to be the exact opposite.

Even though I’m absolutely not a financial advisor in any way, I think we might see NFT prices slide even more, maybe another 40% or even 50% for the rest of this year.

Honestly, I was unsure how to feel the last few months as we saw volume fade from May to July. Then we got a really nice crypto relief rally in that we saw ETH go from the lows of $800 all the way up to recently $1800, which is over a two X in just about 50 days. NFTs Will Drop 50%

NFTs Will Drop 50%

But what happened to NFTs? Absolutely nothing. In fact, volume and subsequently food prices continued to fade even further. If we look at the top NFTs in this NFC blue-chip index on Nansen, NFTs Will Drop 50% in usa

we can see that even the big players that are supposed to be the most stable in an unstable space have also dropped over 42% from the beginning of this year. And keep in mind, those are some of the better-performing collections.

NFTs Will Drop 50%

If we slide over to the top gaming projects, they are down at 72% in Ethereum value and 87% in US dollar value year to date. Well, that’s a yikes. I was very bullish on play to earn at the beginning of this year and boy was I wrong.

I recognized how wrong I was after taking a beating in Eternal ELFs and Freaks and Guilds, both of which I was relatively early in and decently well invested in. But sometimes it takes an absolute beating to learn the truth.

NFTs Will Drop 50%

As soon as I saw how hard it is to sustain good to economics in this market, I sold everything that I had and urged against any type of gamefy or playtown projects ever since. In fact, some of the people in my private membership group were buying Flowerfam, which is an entity collection that was around zero four theory.

And when we were talking about it on a whale call but that product had already seen its pump, and I said I would be avoiding it at all costs because I thought that they were actually buying the top. NFTs Will Drop 50%

And we have to check back in in a couple of months to see if that was right or not. But spoiler alert, it’s been almost exactly two months and yes, they did buy the top.

Flowerfam now sits at a measly POINT zero eight or point zero six, depending on the day floor price, which, as you can see, is about 75% from that top when we called it.

NFTs Will Drop 50% in usa

Now, if we go look at Nansen’s NFT 500 index, which gives a broader look at the NFT space, we can see that a $1,000 invested at the beginning of the year would actually only be down around 1.6% in terms of the ethereum value, but a whopping 55% in the red on the US Dollar value. And that makes pretty good sense because ethereum is down significantly in terms of its US Dollar value since the beginning of the year.

But overall, those top 500 NFtS are actually not down that bad in terms of their ethereum floor prices. We can also see here that the low point was on June 13, where you’r 1000 beans would only be worth about 843 beans on that particular day.

But another spoiler alert, I think that number is going to be lower at some point in the rest of this year. Think about this if crypto is rallying, stocks are rallying, inflation is actually subsiding compared to previous months, and that hasn’t affected anything in terms of NFts volume. NFTs Will Drop 50%

Why should you be interested in NFT?

I’m not really sure what’s going to help NFCs get a spark by the end of 2022.

In fact, I think it’s more likely that we could see more negative news that could crash many of these markets quicker than we’d see an influx of new active users lining up for that next hot NFts mint. This isn’t all bad news though.

There aren’t a lot of creators dropping projects right now because the market is so bad, and that includes me and my team. We’ve actually been working on a project for this entire year since February 2022. NFTs Will Drop 50%

They’re building projects behind the scenes but not launching them yet because this market is just, truthfully, pretty dry, with a lack of quality innovation and no real catalyst to bring in new users. And truthfully, a ton of scams galore.

It’s going to be very hard to get traders to not just buy and dump on each other until many just bails out, get bored, frustrated, or just finally decide it’s time to cut grass while the sun still shines. NFTs Will Drop 50%

Now, if my prediction is right, I think you’ll have some opportunities to scoop your highest conviction blue chip at a significant discount. I think we could see the following lows for each of the top collections bored Ape Yacht Club,

which currently is somewhere around an 81 ETH floor price, I think could drop all the way to 61 ETH for crypto Punks, which have actually been the only blue Chip collection that hasn’t dropped in the last three months.

I can see them going back down to somewhere around 66 ETH, maybe even low sixty. Now, the rest of these collections have been on a pretty steep decline in the last couple of months, but I think it’s going to get worse. Mutant Ape yacht Club I can see going down to somewhere around eleven or eleven and a half east.

Moonbirds, which has been in absolute free falls lately, I think will continue to fall because of this news catalyst that has gone the wrong way for them with their IP rights being kind of just shared without conversation at all amongst their group. The community seems like they’re disbanding. NFTs Will Drop 50%

And I do think Moonbirds could also go down to somewhere around 10 ETH, 11 ETH

For Doodles, I could see them hitting a low 6 to 6.8 ETH

Azuki, which has gone pretty much radio silent since their whole debacle. I can see going down even further again to like 6.2 ETH.

We have yet to see anything amazing or newsworthy or Catalyst worthy come out of Clonex, even though they are backed by Nike. I think those drop all the way to 5.8 ETH Ethereum

Vee Friends, I haven’t heard anything from Gary Vee. I do expect him to go dark for a while while he builds out all V friends, but in the meantime, I do think that floor price will continue to dwindle, maybe even as low as 4.2 ETH two Ethereum

world of women, I can see going down even further as well, maybe about 2.1 ETH Ethereum. And I hate to say it, but the only blue chip I own on this list is Cool Cats, and they have been getting hammered. I can see them going even lower to 1.4 to 1.6 Ethereum. NFTs Will Drop 50% in usa

It stinks to hear that because I bought them at 7.7 ETH So it just goes to show you that even though things are bad, you can could be me, it could be worse. You could have lost twelve ETH combined amongst two cool cats. If things do get worse from here, all these things could or could not happen. I don’t know.

They are just predictions. But if they do get that low, the question will be at that point, are you going to buy?

What is the purpose of nfts

purpose of nfts
. Superior Authenticity Because the blockchain played a key role in their development, NFTs are particularly unique.
. Verification of Ownership Nonfungible token ownership is simple to confirm.
. Up the inclusiveness, Bitcoin aims to enhance inclusivity, but it has not yet fully achieved this.
. Unmatched Market Effectiveness
. Asset Ownership is divided into fractions.

How does NFTs Work ?

A kind of digital asset known as NFTs enables full ownership of digital goods. NFTs are produced utilising blockchain technology, just like cryptocurrencies like Bitcoin and Ethereum.

Because each blockchain is distinct and provides a public record of ownership, it inhibits counterfeiting by giving the asset rarity and worth.

Is NFT a cryptocurrency?

No

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