We have seen, the history of the NFT market development and how it happened on ETH and other blockchains like SOL and Canto. Now it’s BTC’s turn… What does history teach us and what is in store for us with ordinals? 📊
➡️ If a project’s main advantage is its platform, it will fade over time as attention shifts to new projects and platforms. Any NFT bought solely because it is on a “hype” blockchain will end up rekt.
➡️ Ordinals in general have a lot of potential, but most collections do not have their own uniqueness. You might think that all ordinal collections today would be valuable because they are “early”. However, there is little demand for most early NFTs.
↪️ People value relevance 100 times more than historical value.
Just look at the chart of early NFT projects and see how many of them you know. Valuable projects like Cryptopunks and Autoglyphs are exceptions. They were also notable technical innovations.
➡️ The ability to attract attention is the only thing that matters. “Early” and “technologically innovative” are the real agendas that draw attention to some ordinal projects, and they will raise their value to the sky. Outside of that, the money flows where the noise is created.
For example, $PEPE took off because there were 80k owners who benefited from promoting it.
Ordinals tend to be projects with hundreds of holders and they can’t compete in a war for attention with other NFT projects that have thousands of holders.
❔ Do you believe that NFT on BTC will be able to overtake ETH in terms of the number of holders?
👍 – Yes
👎 – No