NFTs on various L1s and profit potential

For the longest time I was part of the “why would you pay thousands of dollars for a virtual picture of a gorilla smoking a blunt” crowd.

I got into DeFi early but hadn’t paid any mind to NFT’s until I learned about fractionalized NFT’s and finally understood them as an investment opportunity. 2 big realizations led to me thinking NFT’s have the potential to be investments safer than actual cryptocurrencies.

First, the value of a specific series of NFT’s has been closely linked to the value of the network’s native token. This might seem intuitive, but it is an important aspect to consider.

Secondly, while the value of said tokens decreases, the floor price of an NFT series decreases much less significantly. Did that make sense to you? If so, you should be purchasing NFT’s on the network you think has the best opportunity to grow.

ETH still uses POW – significantly hampering its scalability. ETH has established itself as the “silver standard” to BTC so it’s value is going to be tied to the market writ large and isn’t advantageous for NFT’s besides retaining the high value of NFT’s that already have a high value. SOL is old news and dead news, already hit is peak.

Terra recently gained a lot of popularity and definitely has the technology (UST) and support to be a top crypto in the future. Also I think the art on a lot of these is top shelf and that’s the hypothetical reason we buy right? NEAR has the technological acumen of Terra, more current developers than almost any L1 and has yet to realize that value in the way Terra has. It is currently very early in the NFT space and still has a lot of market space for new blue-chip projects to be launched.

Keep in mind: tokenomics and the potential for a big big win is by FAR the biggest factor in deciding on which NFT series I want to buy, which is why I’m choosing NEAR. I don’t think the value of a NEAR Misfit will ever even approach something like BAYC or SMB, but I think they are the best opportunity for growth (that I can afford)