What is the current development prospect of NFT ecology?

In the AMA event on Sunday night, I exchanged a lot of topics with you. Due to time constraints, some topics feel that the views I want to express are not fully expressed, so in today's article, I will add some follow-up thoughts on a few topics. In addition, I would also like to emphasize some key points.

**1. About the current development status of NFT? **

Regarding the current and future development of the NFT ecosystem, I think that all ecological projects (led by Boring Ape) face a great risk of trial and error.

Because they have to take a path from the virtual to the real, and there is no second choice. On this road, there is no doubt that the Boring Ape team is pushing the edge of the entire industry almost by itself. Despite their best efforts, I have some concerns about this.

The reasons I have expressed in previous articles and in Sunday's AMA.

So in the short term, it can be said that there is a possibility that the valuation (floor price) of all such projects will continue to drop. These projects include not only NFTs in the Ethereum ecosystem, but also a batch of Ordinals NFTs that have recently emerged in the Bitcoin ecosystem.

Ethereum’s NFTs have been fully discussed, but Bitcoin’s Ordinals NFTs seem to lack a certain degree of risk awareness—because they have just appeared.

But in my opinion, it is not enough for a large number of Ordinals NFT of Bitcoin to come out of the circle in the future purely by art design, and it is necessary to take a road from the virtual to the real. And as long as you take this path, you will inevitably face the same problems faced by the Ethereum NFT ecosystem.

Unless any project in the future can make a qualitative breakthrough on this road, the future of this type of NFT is worrying.

Under such circumstances, I think there are only two types of NFTs that are currently resistant to risks and will continue to rise in the future:

The first category is NFTs with historical value and significance. This type of NFT in Ethereum is typically CryptoPunks (CryptoPunks), prehistoric (2017 and before) NFT; in Bitcoin, it is typically the top 10K Ordinals NFT.

The second category is NFTs with pure artistic value. This type of NFT is typically the classic generative art of Art Blocks in Ethereum; there is currently no particularly well-known work in Bitcoin.

The reason why these two types of NFTs are risk-resistant is that they have their own value, and it is not necessary to strengthen and maintain their value through external development and ecological expansion.

2. About ENS

Overall, I think there is a considerable gap between the current development of ENS and the expectations of the entire community. It should be able to tap and develop a greater potential, rather than "eating on its laurels" like it is now.

I still hold the ENS I bought, especially some valuable ENS.

As for whether it is appropriate for some investors to want to buy some ENS with relatively high prices, I think it depends on their own situation. If the price is still relatively difficult, I suggest being cautious; if the price is affordable, you can buy appropriately as appropriate, but the position should be controlled.

3. We must deeply reflect on FOMO emotions

In Sunday night's AMA, I offered a little of my thoughts on FOMO.

To put it simply, we can look back together. Taking the bull market just past as an example, we will see that almost all the "powerful" projects in the bull market that year (except Bitcoin and Ethereum) almost fell It has gone to 80%, and if it is denominated in US dollars, the decline may be as high as 90%.

So now let's go back and reflect on our FOMO emotions back then. Is it worthy of deep reflection for each of us? So even for good projects, we must strictly pay attention to the price. The price is high, the FOMO sentiment is coming, and good things will contain extremely high risks.

When the bear market comes and the bubble squeezes, naked swimmers can see it.

However, "no extreme brings prosperity", after everything develops to extreme pessimism, it is likely to usher in a bright and new world.

Now, the last piece of pure land "NFT" in the entire encryption ecosystem has also been abused. So far, every segment in the encryption ecosystem has been thoroughly tortured by the bear market.

Does this also indicate that the entire encryption ecosystem will be able to go into battle lightly in the bull market in the future and create new glories?