Quick summary on me: I have been in NFTs for about 18 months. Spent a lot of time in NFT gaming and PFPs. Had a mixture of success and failure, but loads of learning throughout the process. As always, DYOR/NFA, please use this article as a piece of personal opinion that can help you form your own thesis.

Funny that these two articles were at the top of my medium today! I have not read them because the titles were simply ridiculous. If you chose to read them, let me know what you think.

The NFT market is in a quiet period. We have moved from massive amounts of money and new users flowing in, to a time where people are leaving and trying to protect their cash. When a new person starts buying NFTs, they see the NFT in fiat dollars only. When the floor price drops or $ETH is down these new buyers begin to panic and simply, want out at any price above ZERO. While some of these investors intended to hold for a few months, most likely wanted to come in and flip their NFT for 2–5x and repeat until they were rich. Unfortunately, when the market is filled with jpeg flippers, there are never any real investors or buyers. These investors exist, but when the floor goes 3x in a few days, they are smart enough to not over pay for the assets they may ultimately want to acquire.

For now, we are left in a holding pattern. You have likely heard it before, but right now you just need to **SURVIVE. **To survive means to take and hold positions in tokens that you believe will be thriving in 6/12/18/24 months. If you can survive and potentially accumulate, you will be a winner in the end. Unfortunately, to be a buyer right now can be straight up scary and give you knots in your stomach, so here is some advice:

Right now — do NOT over leverage, do NOT spend money you do not have, do NOT gamble it all into one bucket, do NOT try to time the market, instead buy over time and dollar cost average (DCA) in.

Right now, NFTs are not that “cool” to most of the population. They see it as an internet JPEG that anyone can “right click save” so why are they going to invest money into a JPEG. IP rights, community events/engagement and ownership of art is all that NFTs are at this present moment. The collections and communities that survive and continue to innovate will be viewed as GRAIL COLLECTIBLES in 5–10+ years. Many projects will simply fail because they will run out of money and engagement.

As NFTs expand to the masses through NFT Gaming, ticketing, POAPs and more, many new users will come into the eco-system and begin to learn about NFTs and why they want verifiable ownership over their digital assets.

One of the more unspoken challenges in the current landscape is two-fold: Location and Money.

Location — Unfortunately, the world is still really big and travelling is still not “cheap” or necessarily fast. This brings a massive challenge to reach the world when you are building a community that wants to interact both digital and physical. For anyone who has attended a major meetup, I bet that was your highlight of your NFT life so far. This is important because for a community like BAYC, they have owners all over the world and yet in their first year, all of their self hosted events have taken place in the US. This will need to improve or we will begin to have semi-siloed collections that only prioritize certain regions.

**Money **— “Blue chip” NFTs are EXPENSIVE! Yes, I know the math about how less than 1% of millionaires could own a BAYC if they all wanted one. While the point is noteworthy, it still limits the pool of people who can own the asset or even hold the asset. Moonbirds and Otherdeeds both just had **mint **prices north of $3000. $3000 is more than most people put down for a car, never mind to buy an NFT online that they do not understand. My belief is there will be new ways for consumers to pool money, borrow money or leverage into these “blue chip” assets and communities, which inherently has its own challenges and red flags. Either way, we will be presented with a liquidity problem as there are not enough people with enough cash that want to buy the expensive assets people are holding. The mindset will need to change from these are pictures and access to communities to these are branded images with inherited goodwill from a large eco-system.

After we had so many defaults from CEXs, it will take time for the sentiment around crypto to heal; but once it does, NFTs will be a main focus for new investors and companies. To survive, answer the following questions:

1. Am I holding the right assets for the next 2 years?

2. How much of my current holdings do I need to cash out for bills in the next 12 months?

3. Floor may change, but has my conviction changed in the assets I am holding?

The third question is very important. Your IP ownership of the asset you are holding NEVER CHANGES! If that is a leading reason for ownership, then why is your conviction fading off of a lower floor. A floor simply means the cheapest price that someone is willing to sell their unique NFT, it is not permanent, just the current price. If the team begins to fade and the project is not acting in your best interest, then perhaps it is time to sell.

The same can be applied to fungible tokens. If technology behind $ETH was awesome when $ETH was $3000, it should look even more exciting at $1000.

I hope this helps even one person. I know seeing the entire eco-system of NFTs slowing down can be scary, but this is the time when people making smart investments make the most amount of money. I would rather know I am buying the local bottom, than “fomoing” in at the top

Quick summary on me: I have been in NFTs for about 18 months. Spent a lot of time in NFT gaming and PFPs. Had a mixture of success and failure, but loads of learning throughout the process. As always, DYOR/NFA, please use this article as a piece of personal opinion that can help you form your own thesis.

Funny that these two articles were at the top of my medium today! I have not read them because the titles were simply ridiculous. If you chose to read them, let me know what you think.

The NFT market is in a quiet period. We have moved from massive amounts of money and new users flowing in, to a time where people are leaving and trying to protect their cash. When a new person starts buying NFTs, they see the NFT in fiat dollars only. When the floor price drops or $ETH is down these new buyers begin to panic and simply, want out at any price above ZERO. While some of these investors intended to hold for a few months, most likely wanted to come in and flip their NFT for 2–5x and repeat until they were rich. Unfortunately, when the market is filled with jpeg flippers, there are never any real investors or buyers. These investors exist, but when the floor goes 3x in a few days, they are smart enough to not over pay for the assets they may ultimately want to acquire.

For now, we are left in a holding pattern. You have likely heard it before, but right now you just need to **SURVIVE. **To survive means to take and hold positions in tokens that you believe will be thriving in 6/12/18/24 months. If you can survive and potentially accumulate, you will be a winner in the end. Unfortunately, to be a buyer right now can be straight up scary and give you knots in your stomach, so here is some advice:

Right now — do NOT over leverage, do NOT spend money you do not have, do NOT gamble it all into one bucket, do NOT try to time the market, instead buy over time and dollar cost average (DCA) in.

Right now, NFTs are not that “cool” to most of the population. They see it as an internet JPEG that anyone can “right click save” so why are they going to invest money into a JPEG. IP rights, community events/engagement and ownership of art is all that NFTs are at this present moment. The collections and communities that survive and continue to innovate will be viewed as GRAIL COLLECTIBLES in 5–10+ years. Many projects will simply fail because they will run out of money and engagement.

As NFTs expand to the masses through NFT Gaming, ticketing, POAPs and more, many new users will come into the eco-system and begin to learn about NFTs and why they want verifiable ownership over their digital assets.

One of the more unspoken challenges in the current landscape is two-fold: Location and Money.

Location — Unfortunately, the world is still really big and travelling is still not “cheap” or necessarily fast. This brings a massive challenge to reach the world when you are building a community that wants to interact both digital and physical. For anyone who has attended a major meetup, I bet that was your highlight of your NFT life so far. This is important because for a community like BAYC, they have owners all over the world and yet in their first year, all of their self hosted events have taken place in the US. This will need to improve or we will begin to have semi-siloed collections that only prioritize certain regions.

**Money **— “Blue chip” NFTs are EXPENSIVE! Yes, I know the math about how less than 1% of millionaires could own a BAYC if they all wanted one. While the point is noteworthy, it still limits the pool of people who can own the asset or even hold the asset. Moonbirds and Otherdeeds both just had **mint **prices north of $3000. $3000 is more than most people put down for a car, never mind to buy an NFT online that they do not understand. My belief is there will be new ways for consumers to pool money, borrow money or leverage into these “blue chip” assets and communities, which inherently has its own challenges and red flags. Either way, we will be presented with a liquidity problem as there are not enough people with enough cash that want to buy the expensive assets people are holding. The mindset will need to change from these are pictures and access to communities to these are branded images with inherited goodwill from a large eco-system.

After we had so many defaults from CEXs, it will take time for the sentiment around crypto to heal; but once it does, NFTs will be a main focus for new investors and companies. To survive, answer the following questions:

1. Am I holding the right assets for the next 2 years?

2. How much of my current holdings do I need to cash out for bills in the next 12 months?

3. Floor may change, but has my conviction changed in the assets I am holding?

The third question is very important. Your IP ownership of the asset you are holding NEVER CHANGES! If that is a leading reason for ownership, then why is your conviction fading off of a lower floor. A floor simply means the cheapest price that someone is willing to sell their unique NFT, it is not permanent, just the current price. If the team begins to fade and the project is not acting in your best interest, then perhaps it is time to sell.

The same can be applied to fungible tokens. If technology behind $ETH was awesome when $ETH was $3000, it should look even more exciting at $1000.

I hope this helps even one person. I know seeing the entire eco-system of NFTs slowing down can be scary, but this is the time when people making smart investments make the most amount of money. I would rather know I am buying the local bottom, than “fomoing” in at the top