Reflecting back on the NFT craze

I had a nice night catching up with a couple high school friends yesterday. It’s been really awesome that our high school group of friends has stayed so close over the years. I’ve now known all of them for the majority of my life and I plan to stay close with them for the rest of it.

Sophia told me that I needed to be better at catching up with my friends and I agree. I often get carried about with life and think that friendships nurture themselves. In reality, they need a lot of nurturing and I haven’t been the best at it.

On another note - my friend Francis and I were discussing NFTs as a bit as he still works at a NFT startup. The bear market has definitely taken a toll on the industry.

When the NFT craze was happening, I wrote that I was planning on participating in projects that I wanted to get involved with and trying to stay clear of buying into something for the sake of making money. I’m glad I stuck to that as I don’t have a gaping hole in my net worth right now.

Unfortunately, for those actually building in the space, it appears that the vast majority of those participating in the NFT craze was solely just to try make money, not for any utility. Now that the money has dried up, most the users and participants are also gone.

For myself, I’ve lost some money on the project I’ve bought into just like everyone else. But I did so mainly with gains so I’m in a good spot. I also only bought into projects I wanted to be in long-term which include LinksDAO, Knights of Degen, and the Illuminati projects. I’m still part of all 3 right now, and even golfed last Sunday with a friend I met on LinksDAO.

I hope there’s a bit of resurgence cause there’s some genuinely great projects happening right now. It’ll be interesting to see where things go from here.