18 "uncomfortable" truths about non-fungible tokens

NFT analyst OKhotshot warns that there are no reliable stable investments in the NFT space and most investors will lose money by investing in the market.
New
OKHotshot, non-fungible token (NFT) analyst and blockchain sleuth, has highlighted his picks for 18 of the "most uncomfortable truths" about the NFT industry.

In a lengthy 20-part thread to its 45,000 Twitter followers on August 27, OKHotshot laid bare many issues currently plaguing the NFT industry, including irresponsible celebrity endorsements, hacking, and the types of projects that are almost always doomed.

The analyst has made a name for himself in the industry as a full-time on-chain analyst specializing in NFT audits and Discord security operating as @NFTheder on Twitter.
Most NFT Investors Will Lose Money
One of the most disappointing “uncomfortable truths” shared by the NFT analyst is that most people will lose money investing in NFTs.

OKHotshot said there are "no stable and reliable investments in NFTs", warning that if an investor hears the term "blue chip NFT" to "run away". He also warned that "distributing diamonds" is not the best way to make money, but rather investors should take profits when they can.

"Not all of us are going to make it. Most NFT traders trade at a loss."

Previously, Cointelegraph published a survey which found that while 64.3% of respondents said they bought NFTs to make money, 58.3% said they lost money in the past. their NFT journey.

The analyst advised anyone interested in NFTs to keep up to date with announcements because "the moment you hear about a new project on Twitter spaces, you're late".

He also warned that volume and liquidity are often more important metrics than price floor, and that time is more valuable than any asset, so planning ahead is key.< /p>
"If there are no buyers, you can't take profits," he explained.

6. You are responsible for your own safety. Understand that most projects don't audit their code or have Discord security.
— OKHotshot (@NFTherder)

Crypto Aug 29, 2022 0 76 Add to Reading List

18 "uncomfortable" truths about non-fungible tokens

NFT analyst OKhotshot warns that there are no reliable stable investments in the NFT space and most investors will lose money by investing in the market.

New

OKHotshot, non-fungible token (NFT) analyst and blockchain sleuth, has highlighted his picks for 18 of the "most uncomfortable truths" about the NFT industry.

In a lengthy 20-part thread to its 45,000 Twitter followers on August 27, OKHotshot laid bare many issues currently plaguing the NFT industry, including irresponsible celebrity endorsements, hacking, and the types of projects that are almost always doomed.

The analyst has made a name for himself in the industry as a full-time on-chain analyst specializing in NFT audits and Discord security operating as @NFTheder on Twitter.

Most NFT Investors Will Lose Money

One of the most disappointing “uncomfortable truths” shared by the NFT analyst is that most people will lose money investing in NFTs.

OKHotshot said there are "no stable and reliable investments in NFTs", warning that if an investor hears the term "blue chip NFT" to "run away". He also warned that "distributing diamonds" is not the best way to make money, but rather investors should take profits when they can.

"Not all of us are going to make it. Most NFT traders trade at a loss."

Previously, Cointelegraph published a survey which found that while 64.3% of respondents said they bought NFTs to make money, 58.3% said they lost money in the past. their NFT journey.

The analyst advised anyone interested in NFTs to keep up to date with announcements because "the moment you hear about a new project on Twitter spaces, you're late".

He also warned that volume and liquidity are often more important metrics than price floor, and that time is more valuable than any asset, so planning ahead is key.< /p>

"If there are no buyers, you can't take profits," he explained.

6. You are responsible for your own safety. Understand that most projects don't audit their code or have Discord security.

— OKHotshot (@NFTherder)