Towards the end of the NFTs world!

26th February 2022, Saturday

Hey, hope you guys are alright. My today's topic is "Why are NFTs going to the end of its era?"

If you think the NFT world is just beginning, I think you are completely wrong. The crypto market operates on a lot of hype. Since the NFT market is based on cryptocurrency, people invest money only when there is profit. Calculated from all angles, NFT is associated with market hype and manipulates the market in various ways. Some of them are described below.

NFT rarity:

Suppose 10000 NFT is released. Contains 1 to 300 or less rear NFT. Rare NFTs are the most in demand in the market. Suppose luckily you minted one or two rare NFTs. One or two of your NFTs can bring you a profit equal to your monthly or yearly income. It's a lot like a lottery. Just as a lottery can change one's life, so too a rare NFT can change the movement of your life. An NFT attaches some special sign to the character to denote rarity. For example, the background of NFT is different from other NFT, because the nose is long, unique lipstick is given on someone's lips. This means that your character must be different from other NFT characters. However, a special kind of strategy is used to get the rear character of NFT. This is like minting a lot of NFT together. If 20 to 30 NFTs are minted together then there is a possibility of 2-3 RR NFT power.

Common NFTs:

If an NFT project has 300 rare NFTs, the remaining 9700 NFTs are common. However, the first 1000 NFT can be traded at a fairly good price. But the rest of the 9000 NFT is almost worthless. Because there are fewer people who want to buy common NFTs. It's all about buying a picture for $100 and sticking it on the wall. There is no price for beauty. But to mint a common NFT one has to spend around $5-$ 50. But why wouldn't it be worth it? Then you need to know about the use of NFT.

Usability:

Except for a few NFTs, there is no other NFT utility. For example, each of the characters in the pandalad NFT will act as a fighter in a game called "Pandaland". This means that the stronger your minted fighter panda, the more likely you are to win the game. If you win the game you will probably get some tokens as a gift. In that case you will benefit a lot by minting Panda NFT. On the other hand NFT projects like Daiquri, Grul, LawPunk, Pixagay, Reapers each have their NFT stacking difficulty. In that case these NFTs are quite profitable, and value their users.

NFT scam:

At present there is a good roadmap with less NFT but the number of scam NFT projects has increased at a higher rate. Projects that have no stacking benefits, however, assure their users that they will offer various features like staking and gaming. But none of this is actually available. Some of these projects are in SmartBCH, some of the NFT projects are Cattos, Unforgetten Lads, Modern Fairy, Queen. However, there are differences of opinion regarding Queen NFT. If you look at their roadmap, you can see that the roadmap is very big, but without direct trading, they are not offering any staking, which is nothing but a waste of minted money.

Since NFT is currently offering no benefits in the SmartBCH marketplace other than direct trading on the oasis.cash platform, investors are moving away from the NFT market. Sometimes it is seen that even if an NFT can be sold for less than the minted money, it is no longer sold. If you can't sell an NFT after buying it at a very high price, then your attraction should be reduced from the NFT marketplace.

I hope you agree with my article. If you like the article, please like, comment and subscribe.