IS THE NFT VIRTUAL ITEM BUBBLE DEFLATED?
The first half of 2021 is the time when the world’s NFT market explodes with NFT fever. In particular, in March, a painting by the artist Beeple was sold for $69.3 million at Christie’s. Following this incident, people’s expectations for NFT grew, and more and more people joined this movement. This is what sparked the NFT craze; the price of NFT was pushed higher than it had ever been. The most popular NFTs have experienced a dizzying price surge. The average selling price of a CryptoPunk image rose from roughly $100,000 in July to nearly $500,000 in November of that year. Between March and August 2021, sales on Opensea increased tenfold. This price is expected to fall to around $350,000 in December 2021 (CryptoSlam, 2021).
Although there are bad events in the market, we cannot help but look at the strengths and potential of NFT. NFT is attracting attention as an attractive investment because it can create non-copyable content such as videos, images, and music, and the related market is growing rapidly. According to Dapp Radar, a blockchain data company, NFT transaction size in the third quarter of this year was $10.67 billion, an increase of 704% QoQ and an increase of 38,000% year-on-year. Axie Infinity is an example of a successful and meaningful NFT game. Axie Infinity ‘is not an easy game to play. Monetizing in-game earnings is also not straightforward. However, this play-to-earn “Axie Infinity” NFT game is spreading like wildfire with great support in the Philippines, becoming the hope of their lives.
For some people, the play-to-earn concept is pure fun and a little pocket money. For others, it is a new opportunity to earn a legitimate income, as seen in the Philippines. With the money earned from playing Axie, users bought everything from diapers and baby formula to shoes and shirts for job interviews. Foreign workers earn enough money to pay their debts and return to their families. Besides, there are individuals who sell NFTs created by themselves, such as a 12-year-old boy who made $400000 selling NFT whales, a model woman named Zhao, who became a millionaire after selling her NFT collection, etc.
It can be said that NFT is a mega trend. It is not limited to digital assets or art copyrights. NFT is also developed for other great purposes. Robert Mondavi is transforming NFT into a counterfeit alcohol detection system. There are other additional projects on NFT as well. Blockchain is still being explored in a variety of areas by technological companies.
In any market, whether traditional or non-traditional, there are risks and opportunities. The risk is minimized when we have good knowledge, carefully analyze the market, and choose safe projects. Opportunities are created when we have a close eye on the market, have the acumen, and have a little bit of audacity for ourselves. Besides, a stable mentality is also extremely important so that we are not affected by the surroundings, keeping our own opinions.
However, don’t be excessively complimentary about anything. We must remain calm and select reliable NFT issuers for ourselves. 12 Guardian confidently asserts that it is a safe and transparent project. The 12 GUARDIANS NFT Card is an NFT created by the fusion of a picture that depicts each of the 12 zodiac animals and amulets made by famous monks.
The 12 GUARDIANS NFT cards will be the only work of art that brings not only good luck for health and happiness but also artistic value. It is the world’s first amulet in the form of 12 Zodiac NFT card that has goods and property values among its digital assets.
Do you think that way?🙄 Please comment below🤗
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