BBC TRIBUNE
  • Home
  • News
    • Politics
    • National
    • Culture
  • World
    • Law
    • Opinion
  • Business
    • Real Estate
  • Technology
  • Entertainment
    • Sports
    • Movie
    • Music
  • Lifestyle
    • Fashion
    • Travel
    • Social Media
  • Health & Fitness
    • Coronavirus
    • Parenting
  • Education
No Result
View All Result
  • Home
  • News
    • Politics
    • National
    • Culture
  • World
    • Law
    • Opinion
  • Business
    • Real Estate
  • Technology
  • Entertainment
    • Sports
    • Movie
    • Music
  • Lifestyle
    • Fashion
    • Travel
    • Social Media
  • Health & Fitness
    • Coronavirus
    • Parenting
  • Education
No Result
View All Result
BBC TRIBUNE
No Result
View All Result
Home Technology

Anastasia Athanasiadou: “Are NFTs dead?”

admin by admin
November 18, 2022
in Technology
0
Anastasia Athanasiadou: “Are NFTs dead?”
0
SHARES
44
VIEWS
Share on FacebookShare on Twitter

NFTs went crazily popular in 2021 up till early 2022, and a lot of big-time investors jumped on the bandwagon. The technology was revolutionary with an incredibly fascinating long-term potential. It was considered the future of intellectual property. It was the trend, and many people with deep pockets were busy splashing thousands—even millions—of dollars on NFTs, with the assurance that the price would keep soaring.

But the intrinsic value placed on NFTs quickly spiralled down, and many people who bought theirs for over $100,000 are now ready to sell for less than a hundred bucks. In short, no one is talking about NFTs anymore. It begs the question, are NFTs dead?

Well, with the numbers we’re seeing, It seems traders and investors are getting out of NFTs and putting their cash into safer alternatives. I think it’s fair to assume it was an investment in the heat of the moment — perhaps, it was the bandwagon effect: the tendency to do something because everyone else is doing it.

At that time, the prospect looked very appealing. But now, these investors are probably coming back to their senses and pulling out. In short, in the past 30 days, there has been a 25% increase in sales, with the market cap dropping by 40%. With more sales and fewer people willing to buy, the price can only go in one direction: downward.

And when nobody is willing to buy, a commodity tends to go into obscurity. And that’s what’s happening to NFTs today.

That said, some of the world’s most expensive NFTs are still holding the fort. But not very much. For example, the Bored Ape, which sold for $2.9 million in September 2021, sold for just over $130,000 in July and has dropped further to around $100,000. Only an investor with a penchant for making the riskiest investment decisions will buy an expensive NFT at this time.

The economic situation of the world isn’t even helping matters. To combat inflation, the US federal government increased the interest rate and planned to raise it to over 4% by year-end.

When interest rates are higher, investors typically prefer safe investments like bonds and stocks. So they sell off their riskier assets, such as cryptocurrencies and NFTs, and put the money in safer alternatives.

So, for now, I can’t buy an NFT, no matter how cheap or expensive it is until there’s a clear indication that inflation is calming down and NFTs are gaining prominence once more.

NFTs are not dead, at least not entirely. It won’t be surprising for them to emerge again in the near future. But unless the economy changes, I don’t see NFTs rising from underwater. Not even the knowledge of their long-term potential can save them because, for now, no one cares.

– By Anastasia Athanasiadou, Crypto expert, Investor.

admin

admin

Related Posts

The Vital Role of Content Distribution in Business Success
Technology

The Vital Role of Content Distribution in Business Success

August 31, 2023
The Benefits of Choosing O GENERAL Ducted Split Systems for Your Office
Technology

The Benefits of Choosing O GENERAL Ducted Split Systems for Your Office

June 15, 2023
Stay Safe with Expert Fire Watch Guards!
Technology

Stay Safe with Expert Fire Watch Guards!

May 6, 2023
Next Post

TECH the world's largest online university has presence in 150 and more than 10,000 programs

Izack Under New Song

Izack Under New Song

Forbes affirmed that TECH is “The best digital university in the world” and to be the reference institution

Forbes affirmed that TECH is "The best digital university in the world" and to be the reference institution

Leave a Reply Cancel reply

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

Follow Us

Recommended

Rap Artist Lotto Bandz Announces ‘Secret’ Project

Rap Artist Lotto Bandz Announces ‘Secret’ Project

2 years ago
Lower Back Exercises For Pain Relief

Lower Back Exercises For Pain Relief

1 year ago

Artist On The Rise: Super Luigi

2 years ago
Breaking News: Amira Meliani, Former Miss Universe Morocco, Spotted in Senegal for a Noble Volunteer Program

Breaking News: Amira Meliani, Former Miss Universe Morocco, Spotted in Senegal for a Noble Volunteer Program

6 months ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Business
  • Coronavirus
  • Culture
  • Education
  • Entertainment
  • Fashion
  • Health & Fitness
  • Lifestyle
  • Movie
  • Music
  • Music
  • National
  • News
  • Opinion
  • Parenting
  • Politics
  • Real Estate
  • Social Media
  • Sports
  • Technology
  • Travel
  • Uncategorized
  • World

Topics

@abigailspenserhu Abigail Spenser Hu American Elite athos salome baba vanga black holes Celebrity Vacations christophermohammedsingh Christopher mohammed singh christopher singh director Franklin Livingston end hunger Franklin Livingston’s From Amateur Musicians to Zar health benefits Hollywood Hollywood movie Izack Izack Artist Izack Songwriter Lotto Bandz Mathew Zar Matthew Zar Matthew Zar Warner Matt Zar Maz De Roxas Mobile App Development nostradamus property in Nottingham UK psychic Rap Artist Lotto Bandz React Native development Roomates Roommates American Drama science super star technology The World's Richest Man The World Food Program uk news UN Usa news vegan anniversary Vegan Journey world news
No Result
View All Result

Highlights

Breaking News: Amira Meliani, Former Miss Universe Morocco, Spotted in Senegal for a Noble Volunteer Program

The Power of Influencer Marketing: Reaching Customers in the Digital Age

Stay Safe with Expert Fire Watch Guards!

Discover the Best Fire Watch Security in USA

Chibuike Promise Obi is fast becoming a musical sensation in Africa

Launch of International Guild for Hypnotherapy, NLP and 3 Principles Practitioners and Trainers (IGH3P) : An Opportunity for Advancing Your Profession

Trending

Mental health platform that will change your life – What Elite Counsellor can do for you?
Health & Fitness

Mental health platform that will change your life – What Elite Counsellor can do for you?

by admin
October 3, 2023
0

In the fast-paced and often stressful world we live in, maintaining good mental health has become a...

The Vital Role of Content Distribution in Business Success

The Vital Role of Content Distribution in Business Success

August 31, 2023
The Benefits of Choosing O GENERAL Ducted Split Systems for Your Office

The Benefits of Choosing O GENERAL Ducted Split Systems for Your Office

June 15, 2023
Breaking News: Amira Meliani, Former Miss Universe Morocco, Spotted in Senegal for a Noble Volunteer Program

Breaking News: Amira Meliani, Former Miss Universe Morocco, Spotted in Senegal for a Noble Volunteer Program

May 31, 2023
The Power of Influencer Marketing: Reaching Customers in the Digital Age

The Power of Influencer Marketing: Reaching Customers in the Digital Age

May 6, 2023

BBC TRIBUNE

BBC(Bulletin Box Corporation) TRIBUNE is a Professional News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of News, with a focus on dependability and News.

Follow us on social media:

Recent News

  • Mental health platform that will change your life – What Elite Counsellor can do for you?
  • The Vital Role of Content Distribution in Business Success
  • The Benefits of Choosing O GENERAL Ducted Split Systems for Your Office

Category

  • Business
  • Coronavirus
  • Culture
  • Education
  • Entertainment
  • Fashion
  • Health & Fitness
  • Lifestyle
  • Movie
  • Music
  • Music
  • National
  • News
  • Opinion
  • Parenting
  • Politics
  • Real Estate
  • Social Media
  • Sports
  • Technology
  • Travel
  • Uncategorized
  • World

© 2022 BBC TRIBUNE

  • About
  • Advertise
  • Careers
  • Contact
No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2022 BBC TRIBUNE