Why are NFTs losing the “meta”
NFTs , despite of their smart contract technology, have boiled down to be synonymous with Jpegs and that screen shots are their kryptonite.
This gave scammers and those who never picked up a brush to become another “artist” on the metaverse or be part of NFT scene. Do they really think 10,000 images from an unknown person is valuable to the common people?
To give value to the common people, a lot of scammers who have money, are buying their floor prices in hopes to create an artificial want and drive for their useless NFTs. This is usually boosted with fake twitter followers.
In short — they’re faking everything to attract your eyes.
The common people or retail buyers who are hoping to have made a sound purchase are now left with a ghost jpeg of a monkey or a sentient looking being which apparently is one of a kind. Every collector started to be heavy wallet with scams in it.
Cryptocurrency or NFT expos are filled with screens for NFT art or abstract art with no real use case behind them. Everyone claiming to be rare, and that their version of 10,000 images will change the scene. A must have!
Fake followers, fake floor price, fake hype and no real outcome. These have pushed retail buyers out of the NFT collection market and everyone claiming to sell their share are using their own wallets to buy NFTs up.
So what’s next? Are NFTs headed towards a bottomless pit?
Not at all, in fact the opposite! As bear market is on us and real web3 companies are continuing to build newer technology, NFTs are also evolving. NFT injectable technology is one such technology coming towards the next bull run.
Gone are the days of NFTs being sold for a game. With NFT Injectable technology, any NFTs that you have on your wallet since the last bull run will be useable with NFTBrawlers.
This type of technology will allow NFTs a second chance when the bull run is back in few years. Outdated or scammed projects will get a second life. Maybe NFTs are not completely out of meta but just waiting to evolve.
