RE: A Recession Will Bring Crypto Mainstream

[imno]

The NFT PFP industry is weird. It is bloated in a way but I was reading something from coinbase the other day that estimated only 2.1 million people in the world actually own an NFT.

I'm not sure if that was just eth based or everything.

NFT ownership is so concentrated and the wealth thats come from these projects is just a few thousand people who hold all the cards pumping and dumping on the new people while deciding what will be premium and holding it.

I like algorand NFT's and while millions of dollars are trading hands per month, there are fewer than 2000 people actively trading them. So again its super concentrated.

But if you believe that the digital future is coming and ownership and identity will be important, then it's a given that one day soon 2.1 million people will be hundreds of millions/billions.

Now whether supply will multiply just as fast as new people can enter remains to be seen. Most likely, the people buying trash and consoling themselves because they are early will be disappointed as supply continues to expand faster than new people can enter and old projects are forgotten.

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