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With #Ethereum going up in value, how will this effect NFT pricing?
Will the same NFT that was easily bought/sold for 3 ETH continue to sell for 3 ETH at $5k per ETH?
1/ Let's discuss
Will the same NFT that was easily bought/sold for 3 ETH continue to sell for 3 ETH at $5k per ETH?
1/ Let's discuss
2/ When I say NFTs, I'm talking everything.
Collectibles, Art, Land, Cards, Game Items, etc.
NFTs have mostly existed/thrived during a 'bear' market. Meaning, when Crypto has been going down or at least stable.
So a euphoric crypto bull market/phase will be new to all.
Collectibles, Art, Land, Cards, Game Items, etc.
NFTs have mostly existed/thrived during a 'bear' market. Meaning, when Crypto has been going down or at least stable.
So a euphoric crypto bull market/phase will be new to all.
3/ Many NFT Markets have had their time to find their marketplace balance.
And so communities know 'general' pricing of certain NFTs.
floor price for Mystic Axies is 5-7 ETH
floor price for Punks is 4-6 ETH
But if ETH hypothetically hits $10k, will these ETH prices sustain?
And so communities know 'general' pricing of certain NFTs.
floor price for Mystic Axies is 5-7 ETH
floor price for Punks is 4-6 ETH
But if ETH hypothetically hits $10k, will these ETH prices sustain?
4/ ONLY the ones with extremely high demand imo.
But even then there probably will be a re-adjustment in pricing.
Let's take Decentraland land for example where #MANA has fluctuated between 3-15 cents,
But even then there probably will be a re-adjustment in pricing.
Let's take Decentraland land for example where #MANA has fluctuated between 3-15 cents,
5/ When MANA goes up in short period of time, I notice people are more eager to sell.
As their 10,000 MANA land is now worth 2-3x in terms of USD, so they may be happy to sell for 8,000 MANA.
I think the same will happen for ETH based NFTs.
The market will decide.
As their 10,000 MANA land is now worth 2-3x in terms of USD, so they may be happy to sell for 8,000 MANA.
I think the same will happen for ETH based NFTs.
The market will decide.
6/ I'll be looking at the Superrare average price per NFT chart on @opensea
https://opensea.io/activity/superrare
This will tell me if the 'average price' is dropping in ETH as ETH continues to go up.
https://opensea.io/activity/superrare
This will tell me if the 'average price' is dropping in ETH as ETH continues to go up.
7/ We're still early, ETH has only started moving in Dec-Jan.
But if it continues to go to $2-$5k, (many believe it will), I'll be seeing how the market reacts.
Some may get desperate to sell their NFTs and throw it in ETH,
Some might bring that ETH back and buy NFTs.
But if it continues to go to $2-$5k, (many believe it will), I'll be seeing how the market reacts.
Some may get desperate to sell their NFTs and throw it in ETH,
Some might bring that ETH back and buy NFTs.
8/ But I also think others, outside of the NFT space who get crypto rich can enter at this point.
New factors might come into play.
As they have more buy power, which may bring a LOT more liquidity here.
Wealth transfers need to happen to accelerate new markets.
New factors might come into play.
As they have more buy power, which may bring a LOT more liquidity here.
Wealth transfers need to happen to accelerate new markets.
9/ The market will adjust as people still need to sell and so need to find that point where buyers pull the 'buy' trigger.
Let's see what happens.
I covered this topic more in-depth on YouTube
Let's see what happens.
I covered this topic more in-depth on YouTube
