Part 5: Have we reached peak NFT?
If you’re new to Crypto and NFT, or just tired of explaining it, here’s a mini-series that explains it quickly and easily. Feel free to share. This is not financial advice, do your own research.
In Part 3, I gave a quick NFT history that was intentionally limited, focusing only on the bare minimum you need to know to understand where we are today.
The TL;DR is this: CryptoPunks and Bored Ape Yacht Club are the OGs, thousands more have tried and failed to copy their success, and now the good ones are trying to figure out what’s next.
For all practical purposes, all off this NFT growth has happened in the past 9 months.
This space is moving at warp speed.
When Coinbase went public, it was the first phase of general public awareness for crypto.
As more traditional companies like Nike and adidas and the NBA and Draftkings get into the NFT space, mass adoption is following.
It’s still early, but…
…it’s moving at warp speed.
NFTs will be truly mainstream when the average person can explain what they are (not just what “NFT” stands for). I predict this will be within a year.
At which point it will be massively harder to do something that stands out or gets any attention.
When Coinbase opens up their NFT marketplace to compete with OpenSea, NFT adoption will skyrocket.
Right now, there are just enough minor hurdles for mass adoption:
- Buy crypto somewhere
- Transfer crypto to a digital wallet
- Link wallet to mint site
That’s it. These hurdles are extremely minor, but people are lazy or too busy to figure it out.
This will change very, very soon.
It will not only get easier, it will get cheaper.
At the moment, we -you, and me- can be at the forefront of this with minimal effort. But not for long.
What do you think?
If you missed any of the series, here’s Part 1, Part 2, Part 3, and Part 4. You can follow me on Twitter at for more NFT stuff (and some cycling stuff).
