Law punk effect

The success Law Punk NFT has is great and the effect it has on SmartBCH NFT market is incomparable. When the minting of PUNK NFT  started so many people didn’t pay much attention to it. The NFT business was still new to some while it wasn’t alluring to others. The minting ended and the option to stake on block.ng came out.

This has been a joyful ride for Punk owners. the price of Law keeps soaring likewise the price of these NFTs. The floor price of Punk NFT on Block.ng is 0.69 BCH as at the time I’m typing this, while on oasis 3 BCH. Law token itself is on its way to $1.

What effect has this got on SmartBCH

Positive

It has brought a lot of attention to NFT. People who weren’t the biggest fan of NFTs now go into it. It’s no longer tokens alone people are on the watch out for. It has given everyone extra options on what to invest in on SmartBCH.

It paved the way for other NFTs. The success so many NFTs are having today can be attached to the success of Law punks. Though the NFT devs themselves still need to do a little marketing of their own but the seed has been planted by the presence of Punk. I need to mention the Tropical finance team. In terms of marketing, I can say they are second to none. These guys are experts in promotion and communication. It’s no surprise seeing their NFTs sell for as high as $5 and some even listed for $20 and above.

The standard has been raised. Any other token that wishes to create an avenue for staking will have to do better than Law Punk in other to attract a lot of people. Provide a higher APR, provide extra features and options and create an easy to use interface. I await the staking platform of both Tropical finance and Cattos -which will be releasing a governance token called CTN later this month. Once you stake your Cattos, you will earn CTN. I hope this becomes a success likewise Tropical finance NFTs staking option

Possible Negativity

The NFT marketplace is now being explored by many. No one wants to miss out on the next big thing therefore any single project is now being rushed. People mint and mint without knowing the purpose of minting. Is it just to mint and sell?. I have some NFTs that looks like an abandoned project in my bag. In the beginning, it promises to be great and maybe compete with Law Punk, but now it seems the dev has higher priorities. The FOMO is now general and in the long run, people might be disappointed in the outcome of some.

It has also led to an increase in the price of other NFTs, it’s normal to now see NFTs listed for 5BCH-50BCH. A few months back this might look like a joke to many but the “Law effect” makes it look like a good bargain today.

Conclusion

The NFT sector looks like a lucrative field right now and people going into it are so lucky to get into it this early, however, we need to tread with caution. Do thorough research before going into a project. Don’t let your project be based on what someone says. Because I have the highest number of “XYZ” NFT, I might decide to shill it and write some sweet words about it to make you buy my NFT. In fact, I’m planning on making a list of my NFTs listed on the Oasis marketplace. It’s a normal business strategy but not a piece of financial advice.

Currently, I hold Law Punk NFT, CATTOS, Tropical Monster, Tropical gulls, Fatcats. Why am I listing this? Just to let you know, I’m no expert at this, just another NFT accumulator, I’m just like a preacher who preaches the bible but has the choice of following what he teaches or not. I hope all these projects will be a success but I will love to tell you to be your own adviser. Invest only what you can afford to lose. You are one of the lucky few to hop on to the SmartBCH NFT field early, do I wisely and I hope it ends well for every one of us.

Thanks for Reading! 📉💚📊