The Crash of NFTs
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Dumb Money w/ Matt Kohrs
Track My Trades & Share Yours:
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#OpenSea #NFTs #Crypto
Please be sure to LIKE, SUBSCRIBE, and turn on them NOTIFICATIONS.
Let me know in the comments if there is anything I can improve on moving forward.
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RISK WARNING: Trading involves HIGH RISK and YOU CAN LOSE a lot of money. Do not risk any money you cannot afford to lose. Trading is not suitable for all investors. We are not registered investment advisors. We do not provide trading or investment advice. We provide research and education through the issuance of statistical information containing no expression of opinion as to the investment merits of a particular security. Information contained herein should not be considered a solicitation to buy or sell any security or engage in a particular investment strategy. Past performance is not necessarily indicative of future results.
Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.
DISCLOSURE:
I have a beneficial long position in the shares of AMC & GME either through stock ownership, options, or other derivatives.
Have had a wild wild ride. It went from a pure insane opium cycle. To to recently a massive fall off and now we're even seeing that in the for nfts openc lays off roughly 20 of its staff. The reality is that we have entered an unprecedented combination of crypto winter and broad macroeconomic instability and we need to prepare the company for the possibility of a prolonged downturn.
I would argue we're already in a prolonged downturn. Finzer said the layoffs put the company in a position to weather up to five years of depressed conditions that opens his current volume and not have to have further layoffs with the hard. But important changes. We made today we're in an even better position to capture what will soon become the largest market on the planet.
Maybe it will maybe it won't openc nfts in at least as of now not heading in the best direction. I'm not against nfts. I'm against the first iteration of nfts this influencer hype nfts digital ownership unique recognition. I think that's going to be massively popular in government documents medical documents real estate copyright even and maybe not such serious things such as gaming.
I really think gaming is ripe to be transformed by nfts so i think the newest iteration of nfts will be massive. But i think the older iteration. It might stick around for social validation of just people knowing that you paid a lot because hey some people like that social credibility. But i think it's better to take a long term view on this type of thing because when the equities market and the crypto market is basically running into the serious headwind of inflation fed right hikes quantitative tightening.
It's going to be tough for this field to really blossom at least at this moment in time until we get kind of a hold of everything else that i just listed. But openc uh. Some i would say bearish news for the company and also the world of nfts that this was even forced upon them.
What about gamestop nft? 🤔
MOVE YOUR MONEY OUT OF ISDA BANKs and into CREDIT UNIONS!!! ISDA banks use your money agaisnt you in the market. !! Swaps and derivatives to hide synthetics and all with your money!!
Imagine being convinced that a jpeg was worth hundreds of thousands and actually paying for one only to find out its nominal went to shyt. I have screen shots of all the top apes and punks in HD, didn't cost me a dime
Forgive my noob question but what do NFT's do for gaming and digital ownership that something like Steam doesn't do already? Why do you need blockchain technology to remember you own this cool knife in CSGO?
Did you see the story of Music Creators selling directly on GME marketplace? Made the same money in 24 hours than they make in an entire year from Spotify. That's literally stealing money directly from spotify. Selling their music to consumers while gamestop only gets 1%? Getting 10% royalty from re-sale? Keep them away from me.
This gives way too much money and power directly to Content Creators and lets consumers OWN everything they buy. It's bullshit
Not shocked.
F ownership!
NFTs are UTTER nonsense. Each new generation insists on inventing something stupid — like Beany Babies, Cabbage Patch Dolls, and other modern crap,
"collector" crap, or get-rich-fast crap — all of it designed to take money from fools — "a fool and his money are soon parted" — "there is a sucker born every minute." Young people have NO sage wisdom and a lot of testosterone-driven BS greed and stupidity.
NFT’s in the gaming market alone will generate TRILLIONS assuming they can make everything fluid between platforms and games. Specialized trophies/achievements, weapons, armor, skins, vehicles. This is also assuming Zuckerberg and the IOI don’t gain control.
Nft- not f*cking tangible
💓🤗
The NFTs Always Seemed Worthless to Me It's Something I will never Invest in.
I haven't sold an NFT since the LUNA collapse. I think people are very scared of another collapse and that is why crypto is barcoding and stagnant. With brokerages going bankrupt for the crypto crashes. It's not promising to many new comers. NFTs will be in this Winter too
Yo matt! My guy how you been dawg
NFTs are the stupidest item to spend money on. They will be completely worthless pretty soon.
What’s up MoonGanger’s
Keep NFTs far, far, far away from gaming!
Take it down
🤑
And gme opens theirs at the bottom. Basically buying the dip. LFG!
Thanks Matt
First