It's funny to hear Musk refer to NFTs as being only valid as tokens. Because that's what Ordinals are. And the collapse in interest in NFTs has been driven by the lack of functionality the majority of NFT projects have for holders other than speculation.
Though there are places in the NFT world bucking that trend are innovation led projects in web3 gaming and places like DRiP who are experimenting with expanded functionality and seeing growing levels of user engagement and adoption.
Oh Elon. What happened? He's become the Jim Cramer of technology trends. Now if he says buy you better sell! And vica versa. The classic example being the Twitter/Tesla trade of over a year ago.
The illusion that Musk can do no wrong is well and truly shattered. The financial and product failures of the recent past pale in comparison to the failure that Twitter has been (and likely what future issues at Tesla and SpaceX will).
He's well out of his depth and sinking faster each day. Twitter will be hugely influential to crypto but only as a ready source of users for web3 social media just waiting to be onboarded. Friend.Tech and it's copy cats are only just the start of many successful vampire attacks to come on the platform as Musk seemingly tries to force users out as he fast as he can (and the price of Twitter to zero).
Counterintuitively I think Twitter will be the space to watch in this regard as whichever apps can nail the onboard from Twitter to their platform will likely emerge as the leading players in this space. It'll be the leading indicator as we know that it normally takes a while for users to switch over fully to a new social media platform after initially onboarding.
Apps will know they're making a dent when Musk starts banning links to them and/or their Twitter profiles. When that happens you want to start taking notice.
Absolutely, the conquer of Web2 Social Media will take time and possibly many iterations, but when that happens, betting on the right horse could be a generational trade
It's funny to hear Musk refer to NFTs as being only valid as tokens. Because that's what Ordinals are. And the collapse in interest in NFTs has been driven by the lack of functionality the majority of NFT projects have for holders other than speculation.
Though there are places in the NFT world bucking that trend are innovation led projects in web3 gaming and places like DRiP who are experimenting with expanded functionality and seeing growing levels of user engagement and adoption.
Oh Elon. What happened? He's become the Jim Cramer of technology trends. Now if he says buy you better sell! And vica versa. The classic example being the Twitter/Tesla trade of over a year ago.
The illusion that Musk can do no wrong is well and truly shattered. The financial and product failures of the recent past pale in comparison to the failure that Twitter has been (and likely what future issues at Tesla and SpaceX will).
He's well out of his depth and sinking faster each day. Twitter will be hugely influential to crypto but only as a ready source of users for web3 social media just waiting to be onboarded. Friend.Tech and it's copy cats are only just the start of many successful vampire attacks to come on the platform as Musk seemingly tries to force users out as he fast as he can (and the price of Twitter to zero).
Counterintuitively I think Twitter will be the space to watch in this regard as whichever apps can nail the onboard from Twitter to their platform will likely emerge as the leading players in this space. It'll be the leading indicator as we know that it normally takes a while for users to switch over fully to a new social media platform after initially onboarding.
Apps will know they're making a dent when Musk starts banning links to them and/or their Twitter profiles. When that happens you want to start taking notice.
Absolutely, the conquer of Web2 Social Media will take time and possibly many iterations, but when that happens, betting on the right horse could be a generational trade