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Rumors of NFT market death ... have been exaggerated

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Greetings all,

In this week’s episode of Ventures, I (https://linkedin.com/in/wclittle) walk through how to buy crypto on a centralized exchange, move it to your own crypto wallet, and participate in an NFT mint. I use the upcoming Founders Collection mint for Alphi (https://mint.alphi.xyz/, June 29th, 2023) as a practical example. Most NFT communities require some kind of process to be added to their allowlist, so I walk through how to do this, step-by-step, with Alphi.

Check it out: How to buy crypto and participate in an NFT mint (using Alphi’s June 29, 2023 mint as an example)   

Is the NFT market dead?

While prices of many top project NFTs are currently down (and down bad), let’s not forget that NFTs are a technology. They are a type of (non-fungible) token on a blockchain.

So no - “NFTs” aren’t dead. The market for them isn’t dead. And there are all kinds of use cases for them technologically and practically:

  • Music
  • Event ticketing
  • Virtual real estate
  • Gaming
  • Food and drink
  • Supply chain
  • Decentralized finance loans
  • Art and collectibles
  • Identity
  • Etc..

Now, is the era of PFP mints over? Or at least highly different? The recent Azuki mint went not as well as expected. Still, they’ve done 2721 ETH in volume thus far, so it’s hard to call that “dead”.

There is a general sentiment out there I’ve noticed that the hype and excitement of 2021 and early 2022 is certainly now very different. Back in the day it was a bunch of degens “aping” into projects and flexing their profile pics. Once prices skyrocketed and the bubble was in full effect, things changed. The parties got weird (and not in a good way, IMO).

Still, it would be a profound mistake to see the evolution of this particular niche market of NFTs as evidence that “NFTs are dead”. We will see all kinds of use-cases for this technology flourish across multiple blockchains in the not-too-distant future.

Alphi’s mint

If you haven’t already, listen to the episode from today and visit https://mint.alphi.xyz to learn more. Let me know if you have any problems getting on the allowlist.

Thursday will be an exciting day.

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Have a great rest of your week!