Peter Brandt, a seasoned and famous trader, surprised everyone with his latest comments. Brandt, who became popular with his analysis as well as opposing some trends and some altcoins in the cryptocurrency space, talked about non-fungible tokens (NFTs) this time. Contrary to everyone’s expectations, he did not criticize the NFTs. On the contrary, he implied that he saw a future in some of them. Here are the details…
Peter Brandt surprises his followers with his NFT tweet
cryptocoin.com As we have also reported, analyst Peter Brandt has been on the agenda for years with his comments on Bitcoin and the general market. He guessed most of them correctly. He even addressed the recent decline in Bitcoin, saying that in 2021 most people can’t even imagine the current levels. However, Brandt mentioned NFTs in his new tweet.
Some NFT Projects will make it
— Peter Brandt (@PeterLBrandt) October 13, 2022
A few days ago, Brandt tweeted that some NFT projects will make progress. Thus, it caused discussions about the state of the industry. Many were surprised by Brandt’s comment. For example, a user named Duo Nine said, “You’re so progressive Peter, what has changed?” she asked. The veteran trader said that NFTs have now managed to go beyond “the mostly scam JPEGs.”
NFTs have moved beyond simple JPGs, which IMO were mostly scams
Selected projects have enhanced ongoing functionality and utility
One example would be creation of a moderated community around similar interests https://t.co/EJosPl7j4k— Peter Brandt (@PeterLBrandt) October 16, 2022
He even stated that some outstanding projects have advanced functionality and benefits. It remains unclear exactly how Brandt, who has been critical of NFT crazes, including NFTs, in the past, warmed to NFTs. As we reported earlier, in February it had called NFTs “stupid”.
What’s the latest on NFTs?
NFT sales have plummeted over the past few months, driven by the current bear market. NFT sales have dropped nearly 90 percent since the start of the year, from around 160,000 a day, according to the data. It fell to the current level of about 20 thousand. In late September, Bloomberg revealed data on NFTs as the crypto winter deepens. It reported that non-fungiable token volumes fell 97 percent from its January peak.
CryptoSlam stated that the most popular collection last week was CryptoPunks with $10 million in secondary sales. He reportedly was followed by the Bored Ape Yacht Club with weekly sales of $7.8 million. Falling prices in the secondary markets caused collectors to tweet depressingly about their losses.
While NFTs are falling on every metric, a non-fungiable token sale has recently attracted attention. Actor, director, and producer Anthony Hopkins has released his first NFT collection. His collection sold out in less than 10 minutes. The project named “The Eternal Collection”, which was launched in partnership with the NFT design agency Orange Comet, is on sale. The project featured 1000 original cinematic artworks inspired by the actor’s different performances in movies.
