“The current state of NFTs is abysmal,” says Ryan Watkins, senior research analyst at Messari. Why did Messari analyst say that the NFT market, one of the current popular altcoin markets, is terrible? Details Cryptocoin. at com.
“This altcoin market sucks”
Messari analyst Ryan Watkins denounced the current state of the non-alterable token (NFT) industry, which has recently become difficult for new investors to participate in due to the high cost placed on digital assets. Watkins said on Twitter today that the current NFT market has shifted from the democratic and accessible ideologies of the crypto world. According to the senior analyst, people who have joined the NFT space in the last two years have been lucky to get interesting digital collectibles at affordable prices. However, the same cannot be said for new entrants wishing to join the NFT majority. The creators raised the barrier to entry to only include wealthy investors, forcing low-funded traders to settle for “garbage.” Here’s what the analyst says on the subject:
Those of us who have entered this market in the past two years have been fortunate enough to enter these projects early, even if they do not buy directly. However, those who enter the game today are often unable to play due to the high barriers to entry, and because of their garbage purchases.
Entries today are often unable to play due to high barriers to entry because they can’t afford high cost NFTs or because they buy crap. While there’s nothing wrong with selling luxury digital collectibles, Watkins said, creators shouldn’t focus on making money at the expense of allowing more people to enter the NFT market. Watkin recommends removing the whitelist because it makes the rich get richer. “Going beyond the standard 10,000 pfp collection to expand ownership could be a start,” the analyst said. Another might be to get off the whitelist, which essentially makes the rich get richer.” Despite the increasing activity on NFT platforms, more and more people want to enter the field to be part of the action.
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