Staking NFT's, the newest ponzi?
Stakeable NFT's making passive income
The recent hype around NFT's has created a hole new universe of streams of money or currency.
And the newest form of passive income is making money by buying NFT's from a certain set, and staking them, those NFT's create a daily income in tokens, which are in their way exchangeable for other coins by using swaps. I see YouTube videos these days that are promoting this kind of income, and are making people crazy for buying these NFT's and making people think they will get stinking rich by buying those NFT's and staking them. Now the big question is, is that really so, or is this just a big ponzi scheme?
Creepz, one of the stakable NFT projects
Some will, most won't
In my opinion, most of these NFT's won't bring in the sustainable passive income, some people think of. At first some bring in some decent income. Like Niftywillies, RoboOoga, Creepz, etc... These are bringing in quite interesting return in the form of tokens right now. But is that sustainable? I don't think so, it is probably for a couple of months, but by then, new sets will attract new people, and will those be still attractive for the masses? Probably not. It is a hype, and right now, millions of people are jumping on it, and that makes it a big ponzi, the first that jumped in, are probably going to make a lot of money. But the chance that you are going to be one of the first is very small. And if you step in you are probably going to be paying too much for that NFT and will be paying for the top layer of the ponzi. Some will possibly stay for a long period of time and keep their value. But let's be real here, people won't keep on paying thousands of dollars for images of a duck, ape or a creep. Right now, it seems a lot of fun, but most will lose money doing this. That's just how it works. If you don't know what you are buying, stay away from it. It is a very dangerous game, in my opinion. Be careful what you do, in this very strange new world.
Sincerely,
Pele23
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Electronic-terrorism, voice to skull and neuro monitoring on Hive and Steem. You can ignore this, but your going to wish you didnt soon. This is happening whether you believe it or not. https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism
As in crypto, I think that there will probably be ponzies in NFT world as well.
Nft is a whale game. They create hype to attract the newbies.
Well it kind of depends but I do agree that the staking of NFTs doesn't really scale that well. I was doing some Rplanet staking but they had to change their system to make it more sustainable (X token per NFT rarity to X% of the total pool).
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