Curious if rising interest rates put an end to the party.
Had an interesting debate with a friend yesterday, he thinks the money laundering value is so high the NFT market will never collapse; I opined that the appetite for any single get-rich-quick scheme is bounded by the number of peers one has who lose out; and that personal experience of that kind is weighted higher than the irrational exuberance; at that when the bit flips and the latter begins to be viewed through a soured lens of failing to Get Rich, things decay quickly, and the next fad takes hold.
At which point the "market" for NFTs implodes as can fully be anticipated, because while the money laundering would love it not to, it needs noise and chaos to get away with its own targeted grift.
Reminded, I need to order more popcorn. Gonna be a great show.
Had an interesting debate with a friend yesterday, he thinks the money laundering value is so high the NFT market will never collapse; I opined that the appetite for any single get-rich-quick scheme is bounded by the number of peers one has who lose out; and that personal experience of that kind is weighted higher than the irrational exuberance; at that when the bit flips and the latter begins to be viewed through a soured lens of failing to Get Rich, things decay quickly, and the next fad takes hold.
At which point the "market" for NFTs implodes as can fully be anticipated, because while the money laundering would love it not to, it needs noise and chaos to get away with its own targeted grift.
Reminded, I need to order more popcorn. Gonna be a great show.