Do you understand blockchain?
KoreConX
There is a general understanding that crowdfunding, tokenization, and some other concepts are tightly connected. But do you understand what blockchain is? It is important to understand how it works to help us all understand Online Capital Formation.
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NFTs: What constitutes a bubble bursting?
On March 14, 2022 I wrote about putting a 4k Bored Ape Yacht Club NFT up for sale (all proceeds to charity) on OpenSea to point out structural deficiencies in "NFTs 1.0" and concluded that it was "exhibit #1 that these 'digital art' NFTs represent a bubble about to burst." (Note: It didn't sell) https://crowdfundingecosystem.com/kb/article/psychedelic-safari-bored-ape-nft-for-sale-proceeds-to-charity
On that day, the floor trading price of a BAYC NFT was $233,301. The bubble continued to inflate for another six weeks until April 30 when it reached $420,430. But as of this writing, August 30, it's down to $114,335 which is a 50.99% DROP from my March 14th posting and a 72.80% drop from the peak.
Now for Exhibit B: NFT trading on OpenSea is crashing. See: "Trading volume on top NFT marketplace OpenSea down 99% since May" https://fortune.com/2022/08/29/nfts-opensea-crypto-winter-bubble-blockchain-web3
It appears all those OpenSea wash traders are spending the summer months w...more
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