The crypto market without hype fueling rallies, pump and dump schemes, or "make good projects shine" cases would not be the same. Hype has pushed the exponential gains some of us have managed to score over the years instead of the blockchain technology and crypto fundamentals we keep bragging about.
In the 2016-2017 bull market, ICOs garnered a lot of hype, but most of them ended as dead projects or even worse, dead promises.
In 2021, NFTs conquered the spotlights in regard to hype and volatility, and the most famous "digital crap" that got almost everyone talking about has been the bored apes' collection. I consider them crap since they were launched, and whoever spent their precious ETH on such overhyped jpegs deserves their misery.
Twitter is full of advertising lately, and while scrolling through my feed this morning, I was "harassed by this ad."
You were late on BAYC🐒
You were late on DeGods👼
Don't be late on us..."
It seems like such hideous jpegs are the new NFT hype, or at least that's what Outcasts_NFT is trying to inoculate on us. Personally, I would not accept such crap even if it were given to me for free, and I would never spend any cent on such crypto garbage.
"But sir, you could make a lot of money with NFTs." I don't care. I want to make money with something that I find is bringing value to the world, not all sorts of fuckery that is promoted by celebrities and only benefits "its creators" and the ones shilling it.
Short question: Is Eminem "still wearing" his NFT as a profile pic on Twitter? Nope. He actually has one where he uses his right hand as horns on his forehead. Eminem is a sold soul, but let's not deviate from the topic.
The guy was paid to shill BAYC, and all the plebs who bought such crap ended up owning a fucking ugly digital drawing that was once worth tens of ETH and is now probably worthless. But, you know plebs. They wanted to be part of the hype and to have bored apes as their Twitter profile pic.
"What's wrong with your face for a profile pic?"
I have nothing against NFTs as a concept or technology. I do believe that at some point in the future, we will see many more use cases for them than we currently have, but I see no future in these JPEGs.
All the ones who bought them actually provided "exit liquidity" for the creators and speculators of such shitty crypto, if we can call the likes of BAYC crypto. I don't pity the fool, and I believe that there will be plenty of these throwing money on shitty crypto projects during this bull market as they were in the past one.
It is true that in some cases, hype can make you more money than some solid crypto projects would, but are you willing to take the risk? Because I'm not.
Thanks for your attention,
Adrian
