– The NFT markets are hurtling down, blue chip projections are at a reject, new projects that are coming out, don’t even mint out anymore and tons of beings arelosing money left and right. Is this the end of the NFT market, or are we in the calm of a hurricane as we go into a rage polouse? So this video, we’regonna be talking about what’s going on in the market, some up and coming campaigns. Some projects are continuing to build, but let’s begins with the sensibility of what’s kind of going on in the space.Now, there is this Twitterpost by this person, wizardofsoho, he announced his article a newspaper from a long time ago andsaid, “Internet may simply be a passing fad asmillions give up on it.” Right, and as we know now the internet is just sointegrated in our everyday life, it’s hard to imagine lifewithout the internet. And a great deal of time when you ogle Twitter, there’s a great deal of doom andgloom, people are disappearing, beings went burned, they losing the money.And then beings are seeing, oh, NFTs are just a cult. Like, you are familiar with, everyone gotexcited , now I disappear. I lost all my money and then it’s over. But in reality, if youreally understand NFTs and the use suits for it tobe used in everyday society, the genie’s out the bottle, it’s not going nowhere and it’s gonna be something that people are going to beusing year years from now. If you ever had any downs about NFT’s, I’m here to tell youit’s not going nowhere, it’s just that there aretimes in the market cycle where things are up andright now things are down and it’s just up and down, up and down, but it’s on its way up ifyou would think about it from let’s say a 10 time horizon.So if NFTs are so great, why is everything dropping? And I review a couple peoplethat I follow Bento Boy, shout out to Ben Boy over here, but he said there are waytoo many carpets, high-pitched pile and bad assignments in the infinite. The sell will benefitfrom a reset pullback. I’m just hoping the bullworld will turn again. So what does this represent? Well, if you kind of notice what happened over the last few months, there have been this meta where, it’s all about getting that lily-white index, buying the NFT for thecheapest toll you possibly can and then immediately he’sselling it on OpenSea for double, triple, 5x the price.In a acces, a good deal of people whokind of figured it out firstly, they were making a ton of money because they would just flip the NFT, sell it to the beginner and then the rookie wouldbuy an NFT for 5x the premium the next person got it from andthen they would just lose money because it would simply drop after that and then they can’t tell the difference between what is a goodproject and what’s a rug. Why this is, it’s not that good, it’s because it’s likethe rookies come in, they lose their money, they don’t wanna play the game anymore. The people who generated the NFT, they are just sucking liquidityout of the market, right? So let’s say, you are familiar with, a Pixelmon, for example or any other projectthat is not of quality, and they have no intention tobuilding something long term. Let’s say they raise$ 5million for the NFT project to work on this startup.If they take that 5 million, settled it into their pockets and disappear, that 5 millionis gone from the ecosystem, conveying there’s 5 millionless hovering around and it’s just like, the money is drying up. So it’s like NFTs are growing as a whole because so many parties arejoining every day, but at the same time, thousand of dollars are being sucked out of theecosystem every single day and that spawns it hard forall the prices of these resources to continue to increase, right? Because people are taking the money out, the market goes smaller, if world markets comes smaller the prices “re going to have to” eventually come because there’s not enoughmoney to subsidize this ecosystem.So another tweet by Nate Rivers, shout out to Nate Rivers. He said, “Imagine howdead crypto would be if five to 12% of every trade was immediately givento the exchange platform and development projects creatorthen converted into USD.” So he has a reallyinteresting point here where OpenSea I believes that they take a 2.5% reward, I could be wrong on that, but you know, around there. And then the inventor cost isusually between four to 8% depend on how much theproject wants to take, right? And so we’re talking like five to 12% of every single transactiongoes into somebody’s pocket. So if you think aboutit, if every transaction, there’s a five to 12% imposition, that imposition is being pulledout of the ecosystem and there’s less moneyfor parties to buy and sell and maintained NFTs, right? So like if a company just takes out 6% every single time someone buys an NFT, well, there’s less fund in the ecosystem, signifying world markets starts collapsing because in a way, trading andinvesting in the NFT space kind of right now is almostlike a zero part sport, right? If someone triumphs, someone has to lose.And a lot of times it’sthe rookies that lose. And when enough amateurs lose, well, they don’t wannaplay the game anymore. And I was in the exact sameplace when in like 2017 when there was a altcoin, was super sizzling. I put in a few $ 1000 just starting out and then I lost half my money and I didn’t wanna play the game anymore. And so that’s happening topeople every single day, and that’s why the markethas to take a correction until there’s some kind of bullshit occurrence or some kind of narrative to why people want toinvest in crypto again and actually it’s belief, right? People believe they wanna buy these things because they believe they will make money, and I believe that will bethe trigger for the next patrolman. So if I am long termbullish on NFTs in general and I think this is justa temporary chastening, then again, you know, who are familiar with, right? Because it’s almost acoin turn in a sense. But I will say at the same time, NFTs have helped a lot of beings, a good deal of artists and designer s who wouldn’t have aopportunity to make money are doing well in this space now.So there’s pros and cons ofit and we’re forecast it out. So we just play it byear and see how it goes. So during times of NFT officers, if “youve had” some liquidity, you have some ETHE or some cash, a lot of times it mightbe a good opportunity to buy some blue chip projects. And the first one thatwe’re gonna be talking about is going to be VeeFriends. Now VeeFriends, I touchedon this in my last-place video but there’s some moreinformation that came out and there’s going to be, VeeFriends season two. And there’s more informationon how to get this. So basically this is whatthe NFT is going to look like. You know, there’s definitelya lot more design work going into the background of the project and too the charactersof each project, right? It’s not just Gary Vdrawing it by hand anymore, that was the Genesis series one , now these are done by actual like artists.There’s going to be 55,555 serials two NFTs which is quite a lot whenyou think about it, right? But again, at the same time, this is more wanted of the masses, right? This is not the Genesiscollection, this is series two and he’s trying to expand that public. The first launch was gonna be1 0,000, the next establish is 55, 000. And how it’s gonna work isthat there’s this friends list.Basically, if you havelike the book signs, meaning if you bought his”Twelve and a Half” book, you get a token, you haphazardly get a chance tobe able to mint this thing. There’s more details on the website. Basically, that’s like hisversion of a grey directory, right? VeeFriends Streak 1 incumbent, they’re gonna have 10,000 free plenties for them, public slew 10,000 andthen 15 brand-new attributes, a total furnish of 3,300. So there are a different number of ways to actually get the NFT. So for most people, if you’regonna wanna get the NFT, you’re gonna have to get a combination of these tokens that GaryV has on tokentrove.com and how you got them wasif you bought the book, every 12 journals, you get thetoken, I have a token myself and then there’s gonna be more information on having a combination of these things, burning them and thengetting on the white-hot roster to actually get that streak two NFT. So that’s pretty much how mostpeople is gonna have to do it.But yeah, if you wannalearn more, really check out Gary V’s Twitter and trash like that and you can get all thestep by step information on how this all goes down. And speaking of Immutable X, the pulpit that Gary V isdoing all the token stuff on, this companionship, Immutable Xactually really conjured $200 million valuing it at over $2.5 billion. So, you know, when people saylike, oh, the NFTs are dead. Well, if you look at smart money, VC money and people who are investinghundred of millions, they’re pretty dedicatedto making this space work, extremely when it is necessary to NFT gaming.So I think in 2022 and moving forward, like gaming is goingto be such a big thing, play to earn, like everybodyplays video games previously so might as well make money doing it. And so that’s kind of whereI’m paying attention to. And speaking of one ofmy favorite activities, when it comes to builderswho are blue chip in my seeings and likewise people who havethat play to earn mechanic, we’re gonna be talking about CyberKongz because they just came out with an update. If you didn’t know, CyberKongz as a project is one of the greatestinnovators in the NFT space. They’re ones thatpopularized signs for NFTs. And then now they’re doing like this play to earn idle game mechanic. So basically you have theNFT that’s on Ethereum, right? And then, because Ethereum is so expensive to compile every event, they’re moving the game onto Polygon and where the transactionsare very, particularly cheap.What they’re doing is they’re integrating with Chainlink to use the Chainlinkverifiable random function. So virtually producing random digits so that it constructs surethat there’s a third party controlling the numbers and nobody actually chisels in the game. Right, if you think about it, this competition the ecosystem’s gonna have like millions and millions of dollarsmoving around in it. And of course, there’salways gonna be people who are trying to be bad actors. So by integrating anothertechnology into it so that it attains it extremely difficult for someone to cheat. It’s very innovative, right? You don’t see many otherprojects integrating all these different altcoinstogether successfully. And so CyberKongz isdefinitely one to watch because everybody’s gonnacopy them one year from now and you’ll see.So in my view, youknow, because CyberKongz they do a lot of organic sell, they’re not all about publicity. The expenditure of their assetsare steadily increasing. There’s no like, crazy spout that just like blows’ em out the liquid, but at the same time theysteadily increase, all right. All right, there havebeen gushes in the past, but then they always focus on building. Now, if you look at the opposite example, what I wanna do is wannago through a case study real quick on Phanta Bear. So a few months ago, I recollect Phanta Bearwas all the rage, right? Everyone’s like, oh my God, Asian coin, Chinese money, Taiwanese money is buying into this, Jay Chou supports this project. And that’s all great and stuff, right. But what happens is that the narrative alters really quicklywhere people are like January was like, basicallyjust like any other project and then all this news started came to see you and beings are like, oh my God, this is the Asian Bored Ape Yacht Club.And so the cost pumpsall the way to like, median toll is 7. 8. I speculate the storey was likearound four ETHE right. So there’s a good deal of volumegoing into the project at a very short amount of occasion. Like if you look at this, it’s over the distance of literallylike one or two weeks, right. And then from there, the rate merely plunge, remove, remove, quit quit. And then now it’s like, median expenditure is going for, I imply the floor is like, you know, 0.6, right. Which is like pretty muchwhere it started in January.I’m not saying it’s a badproject or a good project, my spot is that whenyou’re buying into projects that are solely based on hype, particularly during a cop loped, it’s very easy to get burned, right? So like a good deal of apprentices out there, “youre supposed to” like didn’teven hear this project until it got to around this quality where people are buying itfor like three, four each. And then you’re like, oh my God, this will be the next Bored Ape, and then you buy into it. And then what happens isthat the publicity dies down. Parties realize that there’snot much utility quite more. And then parties slowly start selling it because you know all thepeople who bought down here offset so much profitand they’re making like three or four Ethereum ontop of you, they drop it and then everyone slowlysells, sell, sells. And if you’re the one posses the luggage, you’re gonna maintained it allthe way down to like 0.6. That pretty much happen toa lot of fledglings out there where they buy into the hype, and that’s why you want to really focus on looking at projects thatcan construct for the long term, if you’re more of a long term investor, but if you’re a flipperand you wanna buy on hype, then you need to know that you gotta enter at like a inexpensive price.And then when it pumps, understand that it doesn’tgo up forever, right, it eventually has to go down, peculiarly if it’s like artificial publicity that time is generatedin like one or 2 day, then maybe it’s time to sell, right. And so these are the lessonsthat I surely learned. I didn’t buy a PhantaBear, but, you know, I canobserve from a distance and learn lessons from other people’s mistakes. I intend, I wanna pass that toyou guys in case that helps. So another activity that Itouched on in the previous video and I wanna kind of touchon them again, is Karafuru.So like during the end of the officer led of, like just like a couple weeks ago, Karafuru was like one of thehottest jobs come out, at one point it was likea five to six ETHE floor before the review, andnow it’s 2.2, right, which is okay becausethere’s a lot of promotion and then it goes down and then it various kinds of settles out. Karafuru, I actually met the founder and from my understanding, they are actually buildingsomething for the long term.So one thing I stroked on last epoch but I kinda wanna emphasizeit a little bit more is that they’recollaborating with Hypebeast. I’ll employ it this practice, ifyou look at the NFT space, there’s a lot of people who are like first time financiers or like people who aren’t very successful at being industrialists. And they just create a project and then they sell out millionsbecause it’s easy to do and then they don’t really build anything and they don’t have anyexperience house. So for Karafuru, they werealready successful before as like a plaything firm, and shoe busines. You get like that kindof vibe in Indonesia. And then they’recollaborating with Hypebeast. You gotta understand, liketo collaborate with Hypebeast which is a public corporation in Hong kong residents, it’s not a small thing. You know what I want? It’s almost like collaborating with Nike, Hypebeast is obviously not as big as Nike, but you kind of get the idea. So I think this will actuallybe bigger than beings realize.At the same time, they’re also puttingtogether a celebration as well. This is like an in-person carnival that beings actually go to. So it’s like most teams, they just create somethingand disappear with the money, but obviously this unit is collaborating with the right people. They are doing physical happenings that people can actually go to. And I’m trying to personally go to this and we’ll see how my visa situation goes.But you know, I’m trying togo to Jakarta for this too. They’re pretty good atcollaborations, right? And so Muri which is another NFT projectthat we spoke last-place time which is kind of likethe Azuki kind of vibe, but you know they’redoing their own thing. They have a collaboration with Karafuru. So you see that the skin of oneof the famed Karafuru’s, they’re kind of implementingit into this character so that it creates that cross advertisement. They have the Muri collaboration, but if you go on OpenSea tosee the Karafuru honorees, they’re collaborating with a lot of big-hearted Twitter influencers in this space. So this crew is really smart when it comes to collaboration, right? And they’re getting allthe Twitter influencers to talk about them.They’re place the bestart they perhaps can, and they’re constantlyinnovating in what they do and mixing their competencies and putting into the NFT space. And too, if you think aboutlike streetwear for example, it was like all aboutcollaborations, right? Why do you think like Supremecollaborates with like Vans, North Face, classic brandsand upcoming brands as well? It’s because it getspeople talking about them and the more people talk, the more attention you have, the more attention you have, the better chance you have to convert a onlooker into a fan. So I’m somewhat bullishon Karafuru in general. The toll right now is 2.2. I think that’s a pretty good entry price but patently do your own research. But yeah, I think it’sa pretty cool project. So again, if you’re brand-new to NFTs, what you really wannabe paying attention to is understanding who arethe developers in this space, who’s make contributions to the NFT space and not just siphoning money out. So a lot of times, youcan make a lot more fund merely buying into a good job early or buying in when it’s a good rate and then merely hampering it, right.You don’t have toconstantly like epoch sell and throw every single dayto actually make money. If you watch the new walletsand you watch these whales, they’re not always flipping all the time. Sometimes they’re just getting in early, accommodating something for a long time. Next thing you know, they five, 10 x, and it happened to me, right? Like one of my earliest swap, my second NFT that I ever bought was a Cool Cat at a 1.8 ETHE, and then I exactly accommodated it for like six months orsomething like that, and I sold it for like1 1.25 ETHE later on, right. And so it’s just like, when yousee its full potential in a unit, sometimes it’s betterjust to hold than to flip.And of course, if you wannajust partition your money into a flipping coin and impounding fund, you are eligible to do that as well, different various kinds of strategies. And if you wanna learn more about that, check out my discord, the parallax tie is in the description. So that said, I’ll seeyou guys in the next one ..