Tx 850855d851c532c3da1baf3bb0790b883dc771cd@56732675
Included in block
56,732,675
at 2021-08-21 17:37:09 (UTC)
Raw transaction
| ref_block_num | 44,033 |
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| ref_block_prefix | 617,255,008 |
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| expiration | 2021-08-21 17:38:03 |
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| operations | | 0. | | 0. | comment |
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| 1. | | parent_author | "" |
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| parent_permlink | hive-167922 |
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| author | acesontop |
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| permlink | askleo-are-nfts-overpriced-in-a-bubble |
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| title | "AskLeo - Are NFTs Overpriced/In a Bubble? " |
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| body | "2017 has definitely been the year of the ICOs and the year of Ethereum. Almost every shit that was build on Ethereum has managed to collect tons of market cap, backed mostly by promises rather than actual uses cases and the hype around such ICOs has made smart guys a lot of money.
Something similar is happening right now with NFTs, although we could say that NFTs do have "a bit more intrinsic value" than ICOs used to have. There are some really funny JPGs that have been sold for tons of cash :D.
I read a news today of a 12 years old kid who managed to sell a 3,000 whales NFTs collection for roughly 106 ETH. That's way over $300,000 and it's huge money for a 12 years old. I guess his father who saw the child's inclination towards coding and taught him how to code has "his guild" as well for the kid's success.
[image source](https://www.google.com/search?q=whales+nft&source=lnms&tbm=isch&sa=X&ved=2ahUKEwjp1JahvsLyAhUcgP0HHWGVCewQ_AUoAXoECAEQAw&biw=1366&bih=661#imgrc=bQORVCvgk01F-M)
*$300,000 for 3000 JPGs?*
How's that sound?... Well, Imo that's a lot of money for what intrinsic value those JPGs have, but we should keep in mind that often times crypto is more about speculation rather than actual use case. If fundamentals would really matter we would have a $10 HIVE by now...
My take is that most of the NFTs that are being sold lately, for huge amounts of money, are overpriced and I also subscribe to the narrative that the NFT bubble should pop soon. Yes, I do believe NFTs are in a bubble, but my take is that this tech is here to stay.
NFTs are more than pure JPGs sold for hundreds of Ethereum and somehow this concept is taking part in the revolution of redefining the ownership over digital and real life property. Its echo will for sure go beyond JPGs.
That's what the hype is about atm though and we have to deal with it. To answer my own post, yes I do believe NFTs are overpriced and in a bubble atm.
*Thanks for attention,*
*Adrian*
Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/hive-167922/@acesontop/askleo-are-nfts-overpriced-in-a-bubble)" |
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| json_metadata | {"app":"leofinance/0.2","format":"markdown","tags":[],"links":["https://www.google.com/search?q=whales+nft&source=lnms&tbm=isch&sa=X&ved=2ahUKEwjp1JahvsLyAhUcgP0HHWGVCewQ_AUoAXoECAEQAw&biw=1366&bih=661#imgrc=bQORVCvgk01F-M"],"image":["https://i.imgur.com/d2WaZT8.jpg"]} |
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| extensions | [] |
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| signatures | | 0. | 1f11c72140fe2b004f9f9dcc9176038aacc239ca25969a8abac4c4eb7910458485127e947a031a9e61158aac770ed19f4e904c1143869135a8eda2e670a6580a29 |
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| transaction_id | 850855d851c532c3da1baf3bb0790b883dc771cd |
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| block_num | 56,732,675 |
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| transaction_num | 53 |
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