Reading time: ~2 m
Ryan Watkins, director of research at the cryptanalytic platform Messari, said on Twitter that the modern NFT market is in a deplorable state.
According to the expert, it is difficult for market newcomers to join the industry of non-fungible tokens due to the high cost of digital collectibles.
Those who over the past two years managed to acquire very liquid digital items at an affordable price are very lucky. What can not be said about those who want to become part of the NFT community right now. Newcomers, says a Messari spokesperson, are suffering from the exorbitant prices of crypto art.
The result is a situation where wealthy investors own really valuable collections, and newcomers are content with junk, says Watkins.
First of all, according to the analyst, it is necessary to get rid of the “white lists” for the acquisition of any token, which “guarantee that rich people will become even richer.” And then increase the circulation of tokens.
“It’s annoying when new people want to join Web 3.0 and they’re told to give me a year’s salary,” says Watkins.
Early last year, Nonfungible.com published a report stating that NFT prices had fallen by 70%. Bloomberg analysts felt that the hype in the digital art market is subsiding.
#Messari #Senior #Analyst #Condemns #State #Art #Web