Why Are NFTs the One Bright Spot in the Crypto Markets? - Ep.309

Jan 14, 2022

Aftab Hossain, a prominent crypto investor and NFT collector known as @iamDCinvestor, shares his insights on the booming NFT market. He discusses the recent surge in NFT trading volumes, driven by platforms like LooksRare and the effects of wash trading. Aftab believes that rising floor prices and the role of 'flippers' could sustain NFT growth, even amid a crypto downturn. He also delves into the significance of royalties in NFT projects and how competition with OpenSea could spark decentralization efforts.

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INSIGHT

NFT Market Dynamics

NFT market dynamics differ from fungible tokens, impacting price sensitivity and liquidity.
Longer-term NFT collectors are less influenced by price fluctuations, contributing to market stability.

INSIGHT

Celebrity Influence and NFT Growth

Celebrities' adoption of NFTs brings wider attention to Web3.
NFT values could rise even during a crypto bear market, given sufficient external demand.

INSIGHT

LooksRare's Vampire Attack

LooksRare launched a "vampire attack" on OpenSea, aiming to capture market share.
This attack involved rewarding OpenSea users with tokens, incentivizing a switch.

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