Recently in the news, Bill Gates has come out and made a bold assertion that is sure to hurt the sentiments of NFT enthusiasts. He said that NFTs are based on the Great Fool Theory. This implies that the one who sells NFT is a fool but the one who buys the NFT is a bigger fool. Seeing that one of the biggest minds in the world is condemning the NFT market, it is sure to have an adverse effect on buyers, particularly considering the position of the market at the moment.
In other news, Ukraine is capitalizing on the crypto market. It has made architectural sites that are in danger of being destroyed by Russia into NFTs. This is more or less a tactic to gather funds by appealing to the sentiments of the larger western world.
Finally, the Bored Ape Ethereum NFT has fallen below $100K due to the status of the market.
NFTs to Watch
Bored Ape Yacht Club
The Bored Ape has been a symbol in the NFT market just as Bitcoin is a signal in the crypto market. The value of the NFT was around $429,000 but with the recent happenings in the market, the NFT has fallen below $100,000 for the first time in a year. Currently, the floor price for the token is around 86.85 ETH.
Otherdeed for Otherside:
Another Ethereum-based token is the top collection of the week. The NFTs of this kind are based on digital land NFts that can be built on by inhabitants which they can enrich. Currently, the floor price of the Otherdeed for Otherside is 2.03 ETH. Out of its 100,000 assets only 34.33% have been purchased. So, it is an open market.
Bird World Mystery Box:
This is the most popular NFT collection on the Binance smart chain. It does not come in cheap either with its floor price of around 798 BUSD. Out of its total, 2,999 assets, 34 are owned. In the last twenty-four hours alone, the NFTs have had a sale 1215 times.