NFTs are in a bear market - partially because everyone is gambling on memecoins
Last year everyone was gambling & having fun minting 100 new collections per day
You heard people say that derivatives were bad for the space
Well only 0.001% of NFTs are longterm projects & degens need to gamble daily, so they’re all trading memecoins now
As a result even serious NFT projects suffer as people just follow the volume to memecoins
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NFTs are in a bear market - partially because everyone is gambling on memecoins
Last year everyone was gambling & having fun minting 100 new collections per day
You heard people say that derivatives were bad for the space
Well only 0.001% of NFTs are longterm projects & degens need to gamble daily, so they’re all trading memecoins now
As a result even serious NFT projects suffer as people just follow the volume to memecoins