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On the contrary I've seen many poor people get into nfts to get rich quick.
by aero-glide2 5y ago
On the contrary I've seen many poor people get into nfts to get rich quick.
- labrador 5y agoPoor people aren't spending 10's or 100's of thousands of dollars on NFTs. I'm not talking about poor kids. I'm talking about rich kids. $276k avg price https://www.nft-stats.com/collection/boredapeyachtclub https://www.nft-stats.com/collection/boredapeyachtclub
- fouc 5y agoI assume a lot of that is from people that already got rich with crypto in the first place.. Also, the average price is based on the current value I'm guessing rather than the value at the time of purchase?
- labrador 5y ago> I assume a lot of that is from people that already got rich with crypto in the first place. I don't think that is a good assumption. I don't know the space that well, but from what I gather, some smart rich people set up a market to suck in dumb rich people. Poor kids got rich in the 2015 to 18 timeframe on Bitcoin and Ether. I've not familiar with poor kids getting rich on NFTs
- rib3ye 5y agoIn the creative arts world, every illustrator is being commissioned to create a brand of NFTs to cash in on the trend and very few break into mainstream success. But that doesn't stop people, rich or poor from trying to speculating on them.
- ASalazarMX 5y agoIt's not only getting into NFTs, it takes vision to time the buys and sells, just like the stock market. Right now the crypto ecology looks very iffy because most of the profit seems to come from speculation, and the best deals are suspiciously similar to insider trading.