NFT Shower Thoughts (11/8/22)

NFT Shower Thoughts (11/8/22)

Here we are, November of 2022.

Its crazy to think where we were exactly a year ago in the NFT world. Ethereum was holding steady over $3,000 per coin, Bored Apes became an established blue chip, and what I miss the most... @NFT was running on all cylinders.

Today Ethereum sits at $1600 per coin after seeing triple digits earlier this year, Bored Apes have a 69 ETH floor, and @NFT is....gone. (for now). Coincidentally, Meta just announced that Instagram is an NFT marketplace where you can buy, sell, trade, and display your digital collectibles. Funny how timing works.

Looking at the market from a macro perspective, there seems to be hope that things start to pick up some steam, even if its minimal.

But then again looking at it from a micro perspective and Im not too sure, but to be fair not a single soul in the world knows for sure. What I thought was going to initiate the mini bull run was ENS domains, but so far the ones I've been tracking have actually lost value.

I really thought the ENS coin ($ens) 3 letter domains, 3 digits, 4 digits, and 5 digits were gonna be the horses at the front of the pack carrying the slack. Well, so far im wrong.

3 digits have fallen from a floor of almost 3 ETH to about 1.8 ETH.

3 letter domains still hold value due to the scarcity but trading volume has slowed.

4 & 5 digit domains seem to be bought by paperhands who only want a quick flip, not long term visionaries.

I may be wrong for the time being... but rome (or the NFT world) wasn't built in a day.

With how 2022 has treated us so far in this industry, all we can do now is pray it's uphill from here.

Oh and the Oculus CEO announced he's creating a VR headset where if you die in the game, you also die in real life...... WHAT THE FVCK.

Thats enough internet for today, see y'all tomorrow.