On the NFT side, it seems like sales are flatlining
. This comes as no surprise since the hype recently hit a crescendo similar to what was seen in 2017/18 when ICOs were all the rage. This doesn’t mean NFTs are gone for good - on the contrary, it’s just a reflection of the wider market and a much-needed correction.
Even though celebrities like Snoop Dogg
and Gary Vaynerchuk
are continuing to experiment with NFTs, governments like China
and even the United States’ Department of Justice
, are cracking down. So while you may hear about all the “money being made” in crypto and NFTs, the reality is that more and more bad actors are going to jail.
What this means for you is to do your research, choose your blockchains wisely, and keep track of everything (for future auditing purposes). Pay attention to the [enterprise] blockchain patent wars, actual on-chain transaction volumes, and international “crypto task force” actions. Governments are slow, but they do eventually catch up with the market(s).