Investor Peter Brandtshared his prediction about NFTs on his social media account.
NFTs began to lose strength rapidly due to falling cryptocurrency prices. The NFT sector, which has been moving steadily in the first quarter of 2022, continues the market volume decline that started in the spring with the effect of Terra’s collapse. Peter Brandt, on the other hand, said that NFTs will rise despite the negative image.
Peter Brandt Surprises With NFT Sharing
Peter Brandt surprised his followers with a positive post about NFTs on his Twitter account.
Brandt compared it to NFT Beanie Babies and Pet Rocks in May. In February, he called NFTs stupid. Given his past skepticism, it remains unclear why Brandt’s increased interest in NFTs was caused.
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
Earlier this week, Brandt sparked heated debates about the state of the industry by tweeting that some NFT projects are on the rise.
In a post he made today, the trader explained his forward-looking view, arguing that NFTs have now managed to go beyond simple JPEGs. He said that some selected projects for NFTs have managed to improve their functionality and benefits.
