- The last 12 months have been unfortunate for NFT projects.
- Project owners and holders have been losing interest owing to fall in floor prices.
- There’s been immense pressure on founders from the venture capitalists who have made investments.
The failure of Three Arrows Capital, collapse of FTX, stablecoins depegging and banks crashing, almost everything unimaginable has happened in the last 12 months. These series of incidents have made a number of people lose interest with many more on the edge of losing it. All in all, the bear market is giving tough times to almost everyone related to the NFT space in one or the other way.
NFT strategist and writer @huntersolaire_ took it to his Twitter handle to share the value of his NFT falling from $60K to 4K. Furthermore, he opened about having to adjust his stablecoin portfolio during the USDSC FUD.
NFT founders are buried under a lot of pressure while owners are looking forward to value. Needless to say, the NFTs market isn’t in a great position as of now and venture capitalists want value in exchange for their investment.
From the falling floor prices to owners thinking to selling or giving up on their project, everything is happening. As a result, major questions have popped up, thanks to the situation. Should the founders be angry or the owners?
The answer is a mix of honesty about the scenario and understanding it at the same time. Certain founders are good and certain are bad and the same goes for holders and NFT projects. This means being patient and considering the other side to some extent.