According to Google trends and famous young YouTuber Biaheza, the NFT bubble has popped. But what does this mean for NFT’s you have or wanted to make?
Are My NFT’s Safe?
When it comes to market value no, but as an NFT, yes. The purpose of NFT’s is safety. They are smart contracts approved and monitored on an ever lasting block chain system. So as long as the internet doesn’t go anywhere, your NFT’s will be fine. The internet is comprised of Earth long super thick wires that go under the ocean, so unless someone has the ability to take up tons of network wires around the world [which they don’t without exploding the planet] the internet will be safe too. Don’t forget about SkyLink and satellite internet… your NFT’s are definitely safe.
Will My NFT’s Be Worth Anything?
Of course, they are valued at what ever you value them at like any art. Does that mean people will buy it? No. Market value is judge by many things like reputation, news, google trends search. Since the Google Trends search is low currently, it means you may have trouble finding a buyer at your current market price because not as many people are looking to buy or interested in NFT’s anymore.
Will NFTs Ever Be Worth A Lot?
Of course, the Bitcoin market has shot up since 2009 and if NFTs are tied to bitcoin we can only expect the price and value of NFTs to go up over the next few years. But lets look at the concept of an NFT to prove its own value. NFTs are smart contracts validating the existence of a single item in the digital world. That means you can play a video game, win an item and sell that item for an actual value and make money grinding in a video game. Economically and real world speaking, you can make a house deed an NFT. As long as no one has access to your NFT, they can’t find the deed to your house, change the name and own the property.
Thats how NFT’s can help us in the real world as well and the digital so I say they do have tons of value now and that value will increase the more everyone understand them.
What Does This Mean For Now?
If you have NFTs, be patient. Even though the current NFT bubble has popped, just like Bitcoin, another bubble is being blown up as we speak. It might even be a good time to buy!
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