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Kaprekar
@kaprekar.eth
1/2 NFTs shifting almost entirely from gambling vehicle to a luxury goods market. If you want to gamble on a big short term win in crypto, you buy a memecoin. If you want steady growth of wealth and avoidance of currency debasement, you buy BTC or Eth.
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Kaprekar
@kaprekar.eth
2/2 If you’ve already made it and you want to refine your taste, support the creator ecosystem, or signal wealth, you buy NFTs. It’s a much smaller market without the speculative frenzy. On Farcaster, the cheap mints and creator supporting mints probably still fall in the luxury spending category in aggregate.
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PeterHacke
@ph77
Entirely? Most of the NFTs are not fully onchain
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