Join 78,987 users and earn money for participation

Are We Ready For A SmartBCH NFT MarketPlace?

3 109 boost
Avatar for annayks
Written by   160
1 month ago
Topics: SmartBCH, BCH, NFT, Defi, Tokens, ...

We have seen some NFT collections released on the SmartBCH blockchain. Poolside Puffers for example is a distinctive NFT. There are more that are coming and hope they follow what Puffers did and not just be copy of successful NFT series in the Ethereum blockchain.

There are developments in this field and soon we will have on SmartBCH a similar marketplace to Open Sea. Remember NFTs were worth very lower than today two years ago. It is not an instant market that will change everything for BitcoinCash. We will need to have a lot more.

A good start will be to have games developed running with SmartBCH. We need to attract big funds and to produce with these funds more. This whole procedure will take years, so have this in mind, that profit may take a while.

Why Some Ethereum NFT collections are priced so high

Image downloaded from Unsplash

I have to explain a few things before I present the NFT marketplace. NFTs are on various blockchains today, not just Ethereum, but the Ethereum NFTs have reached very higher prices in some collections.

There are many reasons for this, but don't think that everything is just simple and the SmartBCH NFTs will be instantly worth thousands of dollars. Maybe they never will, when you buy an NFT think of it as you are donating your money to the developer. There is no reason NFTs should have very high prices.

Ethereum NFTs had these facts:

  • NFTs had fake sales and high volumes to increase their publicity when the bull run started.

  • CryptoPunks is awful, it is an 16bit graphics design of the age of EGA and the first console graphics with huge pixels of some ugly faces that look like shit (I'm sorry for the expression). There are some NFTs that are art, and some that are just bad design and a joke.

  • Fees to sell an NFT are very high. You can't sell an NFT for lower than $300 at the Ethereum network using Opensea or other markets. It is not going to worth it, the fees will make it not profitable.

  • Some NFT developers were already crypto-rich and could create artificial prices waiting to find suckers. This is what the CryptoPunks did. It is worthless but they created huge marketing just with the sales (fake and real). It has real sales but only lately, there are many suckers paying many ETH for no reason, and think it is cool to use for their Twitter profile.

You should buy a few since the prices are low, Puffers I think was two dollars price, so buying one or two doesn't make a difference.

When you buy, think of it as you hold zero in dollars and you wasted your money. There is no guarantee any NFT will have a high price. The Ethereum NFTs comparison is not correct. This is the reason, if now any NFT suddenly rises too much, this will be like you bought a lottery ticket and this is the same for Ethereum.

Those at Tweeter boasting how low they bought an NFT and sold at hundreds of thousands don't realize they only got lucky. They don't understand they bought a lottery ticket and think they were clever in their trade. And there are plenty of them that just display some low IQ with such tweets.

Rares.cash

It is not ready but one can take a look already and discover the upcoming SmartBCH marketplace.

rares.cash

With rares.cash we will be able to list our NFTs and trade, buy more from the selected collections it will be offering and even create our own NFT collections and later put them on display and trade.

This feature will probably attract many NFT artists and creators in SmartBCH, especially with the recent success the few NFT collections on SmartBCH have seen.

The option to Connect our wallet with the web3.0 interface is not implemented yet, since the website is under development.

Developer of rares.cash is @webeli , the same developer that gave us the MarketCap.Cash tokens market website.

Rares.cash is under development not for a long time, but I hope to have some wonderful news very soon. The interface seems to be user friendly and I am sure Webeli can manage well with the experience he has from running MarketCap.Cash.

I will be back with a full review when rare.cash is fully developed.

Finally

I don't know once again what to think of the market. When I am not entirely sure of something I prefer not to risk, but the price of BTC is beyond logical assumptions and behaves quite often irrationally.

It seems that too many "bulls" are onboarding and not hiding their excitement, some of them are famous billionaires, others are some scary individuals that are not very famous, and we also have all those bankers lining up recently and releasing statements of bull runs and price alerts.

There is part of the banking system that is always connected to their mafia past and there is part that doesn't work the same but have been more conservative in the investing part of banking.

It is what it is, the banks have now leverage and control Bitcoin price. There used to be whales communicating and together with crypto derivatives manipulating price, but with one way (Bitmex) to another (not naming this), they slowly or abruptly disappeared.

Binance is at a very difficult position and is the next one. Alright, what is the exit plan for Binance in order to survive? Shrink. If it doesn't shrink to 10% of what it is today, it will have huge problems in the future.

This is also a financial advice for the whole BNB and BSC network and the investments in it. Slowly, in ways that only a few will notice, Binance will keep shrinking. In volumes, in customers, and BNB price within the years will become insignificant.

11
$ 6.85
$ 6.29 from @TheRandomRewarder
$ 0.25 from @btcfork
$ 0.20 from @crimsonowlkk
+ 2
Sponsors of annayks
empty
empty
empty
empty
Avatar for annayks
Written by   160
1 month ago
Topics: SmartBCH, BCH, NFT, Defi, Tokens, ...
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments

I agree with you that Cryptopunk sucks. It's also ridiculous that NFTs like this are so expensive. Because NFTs were new, people got crazy and there was a boom. Many will be worthless in the future. NFTs from private artists and big brands can remain valuable. Also, even starting NFT trading in a market like OpenSea is very expensive. So the SmartBCH NFT marketplace can make things easier. I will definitely use this market when I have enough funds. I have not traded NFT until now.

$ 0.05
1 month ago

Thank you for this comment. For a moment, or longer I was afraid that I was the only one having this opinion. I like NFTs but this is money flowing out of the system for useless drawings. If cryptopunks is art I am an astronaut.

$ 0.00
1 month ago