NFT's $30B Market Cap Is Nothing Yet
I have a little hunch that NFT based crypto's will be one of the primary drivers of the upcoming alt season, with the best yet to come later this year.
As it stands right now the NFT market cap is in the area of $30B and growing rapidly.
I think it's just fun to look at this little number so that one day in the likely near future we can look back and have a laugh when it hits $1T.
NFT Market Cap Includes Blockchain Gaming
The NFT market cap includes some blockchain gaming and I'm sure will include more in the future as custom built in-game tokens become the norm.
The Alien Worlds token TLM as an example has boomed recently which is great for the game and the space. I bought a shit ton at $.05 and wondered how it would do, but personally I've found the mining game to be pretty boring out of the gate.
I haven't logged in for weeks and stopped tracking the coin, heard I missed out on a big pump but good to see it's sitting at $.62 and now holding position #7 on the NFT market cap.
There will be more opportunities like this, keep your eyes open.
NFT's To Drive Alt Season
Like the opening sentence reads, I think NFT tokens and their associated assets will drive the growth in the upcoming alt season along with a continuation in DeFi which currently has a market cap of $118B.
Let's keep an eye on the top 10 tokens within the NFT space, and eventually I'm sure it will be prudent to track the top 50..
I'm going to say that much like DeFi in 2017 a lot of the projects in the NFT space are built on a hope and sprayer right now. Some with an MVP to showcase their wares and some without, which leads to a lot of speculation about their tokens, but also opportunities to earn big returns.
It's early, I mean really really early here with NFT's but hey we've been here before and know how to profit off of these markets.
Not financial advise but I think now's the time to consider taking somewhat risky positions within the NFT space, and I'm talking long shots, thinking 1-3 years down the road to see many of these project start to hit their stride, much like we experienced with DeFi.
Keep your eyes open and happy investing! Looking forward to a $100B NFT market cap sometime in 2021.
Ciao for now,
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Alienworlds is really taking off right now, they have the right recipe to generate a lot of FOMO, and interest. I really do think WAX is a winning combination for NFTs. Alienworlds leveraged this environment with the atomic hub market place providing the place to sell their NFTs, and on top of that R-planet came out, allowing people to invest their NFTS and earn crypto on them, great idea, a bank for NFTs, similar I guess to a renting system (I am thinking peakmonsters here)
On WAX it seems like every week there is a new release of a collector card set, and almost every time the packs sell out, and are usually 20-50% higher on the market almost instantly after the sale sells out.
But lets not forget Splinterlands here on Hive, they really pioneered NFTs for gaming, and the game is fun too, with the renting functionality built outside the platform. Its only a matter of time that these games enter the mainstream, and we see stadiums full watching (and maybe interacting) with blockchain games.
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Have to agree with yeah. I've been holding WAX for many moons and am a big fan of what their doing, I think they have a good product. My only concern is their CEO, he wrecked a good business previously. But yeah I mint NFT on wax and have been playing their games for a while now. And yeah Splinterlands has built a decent product too right here on HIVE. The difference is WAX is purpose built for this while HIVE is managed by anonymous people and has no branding so will never attract the same kind of investments.
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We all learn in life form our mistakes, actually these are the best learning opportunities, so lets hope Mr CEO doesn't make the same mistakes I guess (not that I know what you are referring to)
Ya Looks at defi
30B for NFTs is Just a beginning
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Have to enjoy the journey right? So we'll watch this market cap rise and hopefully it's a good opportunity for people to make some money.
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I hope so
It is amazing that NFTs are going to pass DeFi in short order.
We will have to watch how these two segments play out. Incredible growth opportunities there.
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Yeah possibly the two best growth opportunities right.. I'm actually not sure if NFT market cap will pass DeFi. I gave it some thought yesterday and I just think there's huge apatite for both, but ultimately I think finance will appeal to more people over all but I could be wrong. Will be fun to watch these segments unfold over the coming years.
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