The NFT bubble bursts (part 2)

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Hello friends of Project Hope we will continue talking in this second part of the NFT bubble, which has burst, it is a fact that NFTs that cost millions of dollars their owners try to sell them and they can not even recover what they invested.

NFTs are linked to human behavior, it is not something magical that is worth money and will be worth much more tomorrow just because, for NFTs to be worth money society must give it that value, unfortunately NFT sellers made people believe that NFTs were magical and more and more valuable and that is not true.

There is a very ugly fact about the open portal being one of the most important NFT markets, it was shown that 10% of the wallets were the ones buying and selling the NFT, these people sold 1 NFT and then or sold again inflating the price for others to believe they had a market, all this for the same 105 of the wallets.

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Justin Beaber stated that he bought 1 NFT for 1.3 million dollars , but when investigating the wallet it is noted that he had 3 million dollars in the wallet , he did not buy it because he likes digital art , it was a promotional campaign , they gave him 3 million dollars and he used half buying the NFT from the artist , those NFT from the monkeys that many celebrities have., being Justin a great influencer he attracted many people.

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There are old items that are very valuable like old comics , they are worth millions of dollars because they have a market that has been built over years , real museum art , art gallery art is worth also has been built over years , people spend money to admire a work and it is likely that if they try to sell the work they will get the money back or make a little but it is not certain , nothing is certain in the investment world. That was the mistake of many people, thinking that NFTs would go up just because.

But people did not think that alone, there was a lot of manipulation behind the rise of NFTs, now prices are falling and people are waking up, I lost money in NFTs and it cost me to understand the lesson but I learned it.

Thank you for reading



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