Are NFT's really the new trading instrument?
What is your opinion on NFT's? Do you see them as a new trading instrument? or is it just another hyped 'BUZZWORD'???
Being a long time investor & trader, I have witnessed over the years - things that come and go, in the venture capital world we call this Buzzword Bingo. You get hype curves in sectors that may or may not take off. Always chasing the next shinny thing. Even when talking crypto, it used to be fintech - then came the spin out.
As crypto evolves and searches for it's 'read adoption' phase we are very likely to see sideline gigs looking for a problem to the solution.
Notice I said problem to the solution and not a solution to the problem?
By this I mean, the issue is just like the reasons crypto will struggle to gain full dominance over FIAT currency for a while, is that whilst the tech foundation is solid, the lack of regulation, transparency and what would be deemed as negative points, are really the only thing holding it back.
People see the things they want to see, and not what is needed - El Salvador, the prime example. Instead of being a steady growth curve, it was used as a tool to profit from the very type of thing, that is needed for it to grow up properly. Any country looking on at the drop as the sign-off happened, would now be questioning "is this really for us"?
Exchanges need to stop trading against their clients, fees need to come down - and as much as I don't like it, regulation needs to be solid. Is thee things happen, I think it will be a wild-fire type adoption - globally.
OK so back to NFT's - The pro's = looking after the artist, residual royalties & of course a new type of toy to play with.
The negatives - Expensive gas fee's (will detour artists in the long run) from uploading content, the very people it's targeting. Explosive hype - why is this a bad thing? Well go back to my point about El Salvador, there is now either too much in the space (Large supply) with really, not much demand; apart from a select few.
My in point;
I draw a lot of my tradingview educational posts by using the polyline tool and brush.
I recently added the bored ape
I went on to finish it.
With a blue hat
and then with a pink one
How about a red one?
Even green with the addition of a funky eye
The point I am making, is that due to how simple this is to edit - surely it only de-values a proposition?
I would love to hear from the community, what your sentiment is - why? Do you like the idea or you think it will be a passing phase?
By the way, I liked the blue one with no candles behind him.
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
Being a long time investor & trader, I have witnessed over the years - things that come and go, in the venture capital world we call this Buzzword Bingo. You get hype curves in sectors that may or may not take off. Always chasing the next shinny thing. Even when talking crypto, it used to be fintech - then came the spin out.
As crypto evolves and searches for it's 'read adoption' phase we are very likely to see sideline gigs looking for a problem to the solution.
Notice I said problem to the solution and not a solution to the problem?
By this I mean, the issue is just like the reasons crypto will struggle to gain full dominance over FIAT currency for a while, is that whilst the tech foundation is solid, the lack of regulation, transparency and what would be deemed as negative points, are really the only thing holding it back.
People see the things they want to see, and not what is needed - El Salvador, the prime example. Instead of being a steady growth curve, it was used as a tool to profit from the very type of thing, that is needed for it to grow up properly. Any country looking on at the drop as the sign-off happened, would now be questioning "is this really for us"?
Exchanges need to stop trading against their clients, fees need to come down - and as much as I don't like it, regulation needs to be solid. Is thee things happen, I think it will be a wild-fire type adoption - globally.
OK so back to NFT's - The pro's = looking after the artist, residual royalties & of course a new type of toy to play with.
The negatives - Expensive gas fee's (will detour artists in the long run) from uploading content, the very people it's targeting. Explosive hype - why is this a bad thing? Well go back to my point about El Salvador, there is now either too much in the space (Large supply) with really, not much demand; apart from a select few.
My in point;
I draw a lot of my tradingview educational posts by using the polyline tool and brush.
I recently added the bored ape
I went on to finish it.
With a blue hat
and then with a pink one
How about a red one?
Even green with the addition of a funky eye
The point I am making, is that due to how simple this is to edit - surely it only de-values a proposition?
I would love to hear from the community, what your sentiment is - why? Do you like the idea or you think it will be a passing phase?
By the way, I liked the blue one with no candles behind him.
Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s, and Forex. Hence each trade setup might have different hold times, entry or exit conditions, and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.
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