Speaking of NFT, it is getting a lot of attention in the 2020s. However, it is also a fact that people tend to think it is shady when they see the excessive publicity. Are NFTs actually suspicious? Is it safe to invest? I’ll search around.
Why NFTs are said to be shady
NFT is a very popular word from around 2020. However, it is a fact that many people are wary of the word because it is a word that came out so suddenly and it is also a trend. The reason why it is said to be shady is as follows.
NFT fraud
NFT scams are quite common. It is dangerous because the number of cases where people who have never made NFTs sell information products at high prices through multi-level marketing is increasing. Therefore, there are quite a few fraudulent commercial methods that make good use of the word NFT, so they are wary of it.
too much price volatility
The NFT market has been expanding very rapidly since around 2019. However, from the second half of 2021, the distribution volume has fallen at once, and the market is plummeting. Since it is still in the development stage, the balance between supply and demand is likely to fluctuate, and there are repeated surges and crashes. Because the price volatility is so high, many people think of it as “speculation”.
crypto assets
Many people think that the word crypto-assets is very shady. That should be because there are quite a lot of fraud cases of crypto assets around the world. In fact, as explained above, there are also frauds in NFT transactions, so people are wary of them. Since NFT is bought and sold in virtual currency, it is talked about in the same row as virtual currency.
hype
Advertisements about NFTs are often exaggerated. Obviously suspicious advertisements stand out, and they all claim to be a principal guarantee, such as “You can definitely earn money” and “No loss”. NFT ads tend to be expressed as if everyone is applicable.
I don’t know NFT
NFTs have been around for the last few years. It is supposed to spur the suspicion that there are not many people doing NFT situations in the first place. Although the market is still growing rapidly, the number of users is too small.
Legal development
Virtual currency and NFT are not well developed. I’m not sure where the responsibility lies if something goes wrong with the transaction. and is not protected. It is true that many people worry about it.
NFT is coming
As mentioned above, the general public is very wary of NFT. There is a concern that the market is now unstable and there will be no one to invest. However, the era of NFT is still considered to continue in the future.
New entry by companies
Companies and celebrities are entering NFT one after another. Therefore, it is believed that the NFT boom will not end while there are still new entrants. As a result, the awareness of NFT is increasing even among people who have never known about NFT. Famous companies include Facebook and Adidas.
NFT introduction by SNS
Instagram and Twitter have introduced NFTs. You can now set your Twitter icon to a one-of-a-kind NFT. As a result, NFT is advertised to the general public, so it is expected that awareness will increase.
resale
Resellers are also appearing on the NFT boom. Resellers are generally disliked, but they are helping to revitalize the NFT market. The advantage of NFT resale is that it will be a digital asset, so there will be no fixed costs. Since the market is still developing, it is said that profits can be increased in the future.
Bybit’s NFT Marketplace
Bybit has an NFT Marketplace. If you open an account, you can actually enter and trade, so let’s try it.
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