Farcaster

Opensea is slowly killing NFTs like this?

If Opensea keeps going like this, the price of NFTs is just going to keep dumping!

In reality, to get an Opensea Airdrop, most people rely on the strategy of Earn XP. So how do you Earn XP?

1️⃣ List NFTs at prices below the floor price to help NFT holders earn the most XP.

2️⃣ Bid for NFTs at the highest price to help users earn the most XP.

Note: Buying and selling NFTs does not generate XP for users!

These two factors, along with the above note, have caused the NFT market to drop dramatically.

Users are continuously lowering the prices of NFTs to maximize their XP, and when they sell an NFT, they will bid ETH again to buy an NFT, instead of using that money to buy NFTs directly (because buying and selling NFTs doesn’t generate XP).

For example: The Lil Pudgys NFT collection has continuously dropped from a price of 1 ETH yesterday to 0.86 ETH now.

I thought launching XP on Opensea would save the NFT market during this rough time, but with these "impossible" conditions for earning XP, Opensea has basically dealt a few fatal blows to the NFT scene.