The NFT bubble bursts (part 1)
Greetings friends of Project Hope, we all already have a notion of what an NFT is and even more of the market that has been generated around the NFT, let's touch this topic, the most important thing is that many claim that the NFT bubble has burst, the most emblematic case is the famous first tweet that was transformed into NFT.
Mr. Estavi paid the amount of 1630.6 Ethereum, which is equivalent to 2,600. 000 euros, for the NFT of the first tweet that says "just setting up my twttr" and was sold by Jack Dorsey the creator of tweeter , we must understand that this NFT was sold at auction and the winner was Estavi , now this same Estavi has decided to sell his valuable NFT with a very good marketing campaign claiming to donate 505 of the money to a charity called GiveDirectly , but everyone was surprised to see that the highest bid was 256 euros and after a few days the highest bid reached 12 thousand euros , it is very clear the bubble burst.
It is that at its peak the NFT were sold on average at 6800 euros per NFT and at this time that average value is below 2000 euros, is that at its peak the artist Beeple came to sell a work NFT for 69 million euros, the main NFT markets recorded 160 million euros a day in sales and now that figure fell to 26 million, it is clear that interest in the NFT market is not the same and the money has evaporated.
Those are the figures, but let's be honest many people bought NFT because they wanted to speculate, they bought NFT to resell it after a few weeks and earn millions, this is not bad, but if the NFT in which you invest does not have that real value, then you fell into the scam and when it comes to sell it nobody wants your NFT because it is simply not valuable, one thing is a NFT of an artist that at least has art value , but this NFT of the first tweet and other NFTs like those of a boxer like Mayweather , footballers like Ronaldinho , all have sold NFTs that have no real value , the one who bought them thinks he will make a business by selling them but that will not happen.
I don't want to make this post longer so we will continue in a second post.
Thank you for reading
