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Reminder that VCs invested in January 2022, right at the peak of the NFT bubble Volume has dropped 90% since then and a bunch of cheaper competitors have eaten
by spaceman_2020 4y ago
Reminder that VCs invested in January 2022, right at the peak of the NFT bubble
Volume has dropped 90% since then and a bunch of cheaper competitors have eaten into its marketshare.
I should really get a job at a VC firm. I think I’m stupid enough
- bitxbitxbitcoin 4y agoYou know what they say, hindsight is spaceman_2020. Go get that job :).
- ethanbond 4y agoThe NFT stuff was obviously dumb well before it reached fever pitch. Let’s not act like everyone or even most people or even a lot of people were taken in by NFTs. The whole thing was a small number of people with huge amounts of money and very loud marketing.
- spaceman_2020 4y agoItt was practically all house money. People who bought ETH for under $10 or made 30-100x returns in crypto using their gains to flip jpegs. They managed to lure in a few suckers from retail but most of it was just money rotation between existing players. Any retail-focused play failed hard - like the Coinbase NFT marketplace.
- strikelaserclaw 4y agowell, if your an investor during the growth phase of the last 10-15 years, you must think yourself like you got mad skills.
- boxmonster 4y agoNo doubt a16z is making out like bandits