At the same of writing this issue, NFTs are at its bottom. But after today, it may gets even lower, it's truly unpredictable.
Needless to say, I'm so tempted to buy some of the blue chip NFTs that will cost thousands of dollars but I have to refrain myself. Because it may gets even lower, right?
I mean, if it's just a few hundred dollars NFTs, I don't mind buying to keep.
However, what I was to tell you that NFTs is not dead at all?
For an example, in other NFTland, under VeVe's marketplace...
An $8 NFT that doesn't even have any utility or carries a mainstream brand like Marvel, Disney, Jurassic Park, etc was sold out and the price had increased over 10X.
The NFT is just video that shows the company's logo, where you can rotate it 3D. :-)
You can learn more about VeVe at https://www.veve.me
The fact is, NFTs is down at the macro level. Because you're looking at previous successful collections and their current floor price.
But if you dig deeper...
NFTs are selling as usual in "micro market".
What do I mean by that?
Meaning, if the brand is selling its NFTs to its own followers or fans, sales are still doing well.
Take the example above.
VeVe company sells the NFT that is based on its logo. Those who minted the NFTs and paid $8 are VeVe's own customers and members.
Those who buy in the secondary market are also their other customers and members.
Do you understand what I mean? :)
As a Creator, ANY DAY to launch your NFT is a fine day because you're not trying to sell to "outsiders", you're allowing those who have been following you to have a chance to buy your product. In this case, your NFT.
If Taylor Swift or Black Pink launch their NFTs, they will be sold out as well, regardless of the current NFT market.
So, we as Creators, it doesn't matter regardless of whether the NFT market is down or not. We are in our own eco-system.