The year when the concept of nft (digital collection) was hyped up was the time when the virtual coin market went from a storm to a demonic dance. The news said that a certain star in the NBA bought a portrait for more than 100,000 US dollars, and when I saw this news, I was full of doubts and could only sigh that “the American people’s ideology is really avant-garde.”
After graduating from college, I met a few speculative friends, from aj shoes to ice piers, what fire fried what. When they started to show off their digital collection in the circle of friends, I knew that this thing was on fire in China.
The so-called nft (digital collection) is that each picture is marked on the chain, just like the painter has installed an anti-counterfeiting label on his digital work, so that the picture becomes unique and becomes a so-called digital collection.
But the concept of nft (digital collection) is not important, it is important to make money. Later everyone in the NFT circle you ask him what an NFT is, and he will only answer that you are a money-making thing.
I downloaded the head app at the time, and I saw a bunch of digital collections ranging from a dozen dollars to a few thousand dollars. I opened the picture worth a few thousand yuan and looked at it repeatedly, trying to find out from it that it was equivalent to the artistic sense of several thousand yuan.
But I don’t see the artistry of it.
Crazy, at that time, I was full of these two words, only to feel that the people who spent thousands of dollars to buy it were rich and crazy. But the madness was far behind, I watched, watching it change from a few thousand yuan to ten thousand yuan, and then to twenty thousand yuan, and the collection of more than ten yuan before was also doubled.
I finally couldn’t help but spend a hundred dollars to buy a few nfts. When I looked again the next morning, the price of a hundred yuan nft had risen to two hundred yuan.
I didn’t understand, but I was shocked. I think that if there is no restriction, the painters are creating more and more nft, then the nft will not be deflated and become less and less valuable?
I started joining various discussion groups trying to find an explanation.
Like me, more and more people began to pour into the circle after knowing that nfts could make money, along with them, and the few deposits in their hands.
But the people in the NFT circle, no one cares about the hidden dangers behind the nft, with the popularity of the nft, more and more people join the carnival, the more people, the more money flowing into the nft market. In this way, each nft is appreciating more and more, and it is doubling in value.
Everyone shouted and rushed, and everyone, like me, was pierced by the roaring increase step by step. And the more I played, the more bold I became, from making one or two hundred to one or two thousand, and in less than the last week, I made twenty thousand yuan, and I didn’t do anything, just simply bought and sold.
During that time I walked all the time. Twenty thousand yuan is the income of an ordinary person for two months, and I earned it in just one week. I began to be distracted at work, full of compassion for the colleagues around me, as if I had really become a rich man, looking down on them, not knowing what the meaning of their daily running was.
I thought that my firm sanity had long been swallowed up by money, and I did not know it.
Slowly, each of the most inferior pictures on the platform is also at least one thousand yuan, what to buy and what to make, in the group of hundreds of people, everyone feels that they are Buffett, everyone is getting into the gold every day, and everyone is at the peak of life. Some people have even begun to pull groups to charge fees to deceive Xiao Bai, who knows nothing about digital collections.
But the first bubble exploded silently.
The market is not falling overnight, and when the hot market stagnates, it is followed by a downward spiral and a gradual panic. In fact, the reason is very simple, behind the soaring value of digital collections is a large group of hungry retail investors who want to fast in and out, when the value of their digital collections is stable, they will panic, every minute and every second there are people who start to smash the price of one dollar and one dollar, and a little decline will cause them to sell until the market avalanche.
I watched the price of the collection in my hand drop a little, and I began to be afraid, and then I sold the collection in my hand. However, the group cheered each other up, saying that it was just a simple callback. “The rhythm will come soon” and “stay and be a family” are the slogans that the group of friends have to shout every day. The group is superficially harmonious and harmonious, and the mouth says that everyone is united to stabilize the market, but I know that in private, everyone is thinking about how to quickly sell the collection of their hands that have fallen a little bit in value, and fall into the bag.
In less than a week, the platform’s collection has fallen from a yin to a crazy plunge, and everyone insists that they have not lost money, but many people have exposed their limited risk tolerance over time and have begun to scold like crazy.
These days lasted for a month, and the entire nft market was in a slump until the rise of another platform.
This platform will promise to give away the B collection for free to the user who holds the A collection, and then promise to give the collection C for free to the supplies that hold the B collection, so that everyone will buy the new collection in the hope of getting the next collection for free, because holding the new collection C, will be given away in the next round of the new collection D. And each round of new collections can sell for a high price, and each round of investors can also get a lot of money.
Because the gameplay is the most groundbreaking in the digital collection circle, soon the platform has become the leader of the nft industry, began to siphon the entire nft circle of users and funds, the cheapest collection on the platform in two months also soared more than 500 times, and the platform’s most important Genesis collection directly delisted, the price exceeded the platform wallet transaction amount of 100,000 upper limit, can only be sold in various intermediary trading platforms, the peak price is close to seven figures.
Of course, the new bubble is not a one-time building, and at first I was afraid that this platform would not burst like the last platform at a time that everyone did not expect.
It’s just that human nature is like this, many players like me are on the sidelines, sanity is once again broken, watching the platform’s collection from 100% to 200%……. The horror of those days of growth, I don’t think anyone can resist the temptation.
Later, I calculated my assets according to the market price, and in that crazy month, I earned more than 100,000 yuan.
During that time, I couldn’t sleep all night long, the dream was all the rise and fall of the collection, more than a dozen nft groups were full of information every day, all kinds of rumors flew all over the sky, small news said that this collection was about to soar, and big news said that the state was going to introduce policies to escort the development of nft. The group of friends bragged and spanked, and I spent almost 80% of the day looking at my phone, afraid of missing important information.
Due to the poor working condition, I was warned by the company leaders, but I did not have the usual promises, because compared with the nft, that little salary seems so thin.
Later, with the soaring of the collection, gradually, the platform created an unprecedented bubble in the digital collection circle, the bubble began to make all kinds of small amounts of funds users frightened, at that time, a collection as long as the number is small, the price is ten thousand yuan to start, a few pictures can casually empty an ordinary person’s wallet, and the platform is generally a few weeks later to give new collections to the new collection, and the new collection is numerous, each gift is completely irregular, today it is possible to send to the holder of this collection, It may be delivered to that one tomorrow, which means that the collectors of these weeks will spend the rest of their days in a state of flux and trepidation.
Because of the lessons of the past, I wanted to make more money during that time, but I was afraid that the bubble would burst again. When one day I heard colleagues at the company talking about the platform, I suddenly remembered a sentence, “When the ordinary uncle downstairs is also making money in the stock market, you should know that it is time to liquidate.” ”
So, in the middle of the night, I gritted my teeth and sold all my collections, so that I could leave the bag safe.
It is difficult to describe my mood at that time in words, just like carrying a weight forward for most of my life, crawling and rolling in the red dust for a lifetime, and suddenly having an epiphany and becoming a monk, putting everything down.
However, the scam has not gone bankrupt to this day. Only the pie under the painting is getting bigger and bigger, and later the collection gift can not be satisfied by the user, can not stimulate the market, so the platform began to promise to develop the Metaverse, and those heavyweight collections will be given away to the land and real estate in the Metaverse.
Seeing the announcements of those platforms and the cheers of retail investors, I cried and laughed. Countless Internet industry bigwigs have not been able to explain the concept of the Metaverse, and the Metaverse technology that has been imagined for generations but has been unable to achieve has become a convincing outlet for wealth in the mouths of these stakeholders in the nft.
Later, the date of the Metaverse approached, and the platform did not hand over any answers, let alone satisfy users, so the bubble began to burst completely, and the market value of all collections was about three folded, followed by a mourning field. The money earned by many friends has gone to zero again.
After a long time, the platform changed the planning team with great fanfare, promising to start a new activity immediately and draw a new pie. So the major groups began to frantically disseminate all kinds of chat records, nothing more than all kinds of chicken blood, up to the policy down to the new one, a vibrant, giving people a scene of platform resurrection.
However, the influence and circle of the NFT have long been expanded to the limit, and no matter how much the funds are unchanged, no matter how much struggle has been in vain.
Therefore, in order to stabilize users from selling collections, the nft platforms caused the platform to collapse, and they showed their magic like the eight immortals crossing the sea. Some send dozens of pounds of lychees, some send physical T-shirts, and some send watches for hundreds of yuan.
Since playing nft, I have intersected with many people in the circle, there are couriers who have accumulated 100,000 savings by working day and night, there are college students with only a few thousand principals, and there are two young fathers in small counties who are reluctant to buy themselves a pair of thousand-yuan shoes. Of course, there are also rich second generation and big bosses with rich assets. Many of them failed to quit in time like I did, and the more the collection stayed, the more depreciated it became, so they had to wait and see.
In fact, everyone in the NFT circle knows that bubbles and myths burst one after another, and then the pictures that cost tens of thousands of dollars became affordable JPG files, although it once carried the dreams of countless people’s desires.
But everyone is betting that they can get out in time to become the winner of this game of drumming and flowers.
I don’t know when the NFT bubble bursts or what the day it bursts, but I do know that on the day it bursts, most of the ordinary people in the digital collection community will probably fall to hell and bear the price of their greed for money more than their reason.
But I hope that everyone can be more rational and stop in time.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/play-digital-collectors-circle-i-witnessed-a-huge-bubble/
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