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Punks, Apes & Doodles – how NFTs make (non) sense!

Imagine going home from a hard day at work and telling your loved ones that you just bought a digital art of a bad pixeled punk worth all your life savings and that of your partner too. In addition, you put your children’s college savings in that bored ape token. Chances are, that night is going to be rather uncomfortable.

Let’s talk about how this hype is a reasonable long-term investment or a stark raving bonkers.

Before getting too philosophical on why art from Picasso is worth hundreds of millions of dollars, who determines the price, what determines the value, one might have doubts about the art of 10.000 doodles that sell for approximately a fully equipped BMW 3-series.

In a world where reality blurs into the digital sphere and vice versa, the rules of investing have changed.

To get back to our question. Is a CryptoPunk worth a million dollars and if so, why? This blog aims to help people make decisions on making a profit.

The above sentence is kind of materialistic, but that’s what this blog is all about. We need green sheets of paper to pay the bills and we want to contribute to making green sheets of paper.

Leaving all prejudices, assumptions, and philosophical values aside, a CryptoPunk can be a very valuable investment if you can turn it around and sell it with a significant gain. Don’t think about the inherent value of the art because someone who buys an NFT for millions, surely wants to sell it at a higher price. Buying a plot on an online platform for a ridiculous price is no other. With more celebrities pushing into this market, the hype is getting bigger and bigger. For real? Does someone buy land just to be Snoop Dogs’ neighbor – virtually.

Please, let’s forget about this idyll. NFTs’ trade volume went up from 95 million USD in 2020 to 25 billion in 2021 according to DappRadar. That’s more than 250x within a year. The bubble is real and just started. If there is continuous and tremendous money flow into it, there are opportunities to invest in it. If you have ethical constraints this might not be for you. The game is pure craziness, but it is legitimate, and it is legal. Period. Be aware that among popular, very liquid NFTs’, there is a lot of crap, that barely one buys. In the end, it is speculation as so many investments too. NFTs’ airdrops are real and can be very lucrative. We watch these drops every day and will make at times suggestions.

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