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Disclaimer: This is absolutely what you think. It is indeed financial advice, and if you follow it, take responsibility for your decision to follow it. You are a grown-up now. Don't come wailing back to me if it did not work.

I was kidding. This is not financial advice.

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The NFT World

If you were a Splinterlands player, you would have seen those brief storylines before each battle. One of them is about NFTs, and it reads as follows:

"Splinterlands had NFTs even before NFTs were cool."

I am not sure I know the exact words, but they are on these lines. I entirely agree, and I love collecting those packs and cards. It is just fun. The game is open to all and fair to all players. So, all the cards (or NFTs) you hold today may be worth a lot years later. That theory is already proved true with Alpha, Beta, Untamed, and other packs costing a lot more this year than when we could buy them earlier. That's the idea of demand and supply.

What I don't get is NFTs without utility. Sure, they could have some intrinsic value, and sure, the Bored Ape franchise brought some firsts to the world but $1.3 million for an NFT? If that's true, then I hope to see a few million-dollar babies with the Splinterlands cards that I am hodling. 😊

Anyway, talking about $1.3 million NFT, this is the one.

Bored Ape NFT_Justin Beiber.jpg

The news around is that Justin Bieber bought this NFT. However, the truth is that he was gifted one as part of a promotion. And that particular NFT hit $1.3 million in value at its peak. I wonder if it has to do with Justin Bieber hodling it than the other way around. Either way, it, too, had its fall and is now worth $70 k. That is still good to get four Bitcoins. 😉

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What's With The NFT Verse?

The NFT world is witnessing a bear market for the first time. The crypto world has seen three bear markets, including this one. So, we know that it is a cycle. Is it the same with the NFT verse? Will NFTs whose value has gone down will come up again? Maybe it will but will it go up to the peak or even above the ATH?

These are questions that will be answered in the next bull run. Even if we forget crypto and NFTs for a moment, then wouldn't these qualify as art? If that is so, in some time, they will go up in price. Let's see. That brings us to the next question – is NFT art? Hmm… listen to this story.

I read a user on Torum talk about a Twitter post. The tweet was from an NFT creator who mentioned how he created an NFT series called "Nothing NFT" and it was a runaway success. As the name mentioned, there was nothing on the NFT, yet people bought it. He claimed that he was out to prove that the NFT world was indeed devoid of logic, and he was successful in establishing it. I agree with the guy. Wouldn't you? I mean, come on.

If that is the case, anyone can be successful with a bit of creativity in the NFT space, but does that make it art? I don't know. Splinterlands' cards at least look great, and all of them are art with utility.

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To Sum It Up

I am a long way from understanding NFTs completely. I don't even know what I will do once I understand it. Will I buy, or will I create? If I could hear myself answer that question, I would lean towards creating one. We have an NFT marketplace here on Hive. I haven't explored it. I guess that would be a good start.

As for you, you can enjoy the Bored Ape NFT up above. 😊

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Image Courtesy: Watcher Guru on Twitter

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Article Source: Own. Part of it was first published on Reddit.

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