NFTs have become familiar and popular in the crypto market, even former President Trump has had many of his own collections
[1]. Today I happened to read the news on Cointelegraph - the leading independent digital media resource covering a wide range of news on blockchain technology, crypto assets, and emerging fintech trends, and found out that this crypto site also has its own NFT collection. I assure you that this topic is not advertising content or investment advice, I am just sharing my thoughts on the interesting things in the crypto market.
For example: for the article "Bitcoin whales not selling despite $70K — BTC holdings growth is going parabolic"
[2], there will be up to 3 NFTs minted, with minting costs ranging from 173 USD to 208 USD
[3]. For me, this amount of money is quite large, enough for me to buy about 140-170 MATIC tokens for this uptrend. I think this cost will be used to pay for transaction fees on the Polygon blockchain and go towards Cointelegraph's revenue.
Trying to find out more, it turns out that Cointelegraph allows users to own NFTs of their published articles from mid-2022. The Cointelegraph Historical NFT collection offers a unique opportunity to commemorate pivotal moments in the cryptocurrency industry. By minting an article as an NFT, we become not just readers, but owners of a piece of crypto history
[4].
Interestingly, the Cointelegraph Historical Collection has been listed on the Rarible NFT marketplace
[5], with the highest asking price reaching 38K WETH ~ 152M USD
[6]. I think this price is just for fun. Most other NFTs are only priced at 20 USDC, which is much lower than the cost of minting an NFT. I think that the owners of the NFTs in the Cointelegraph Historical Collection are either fans of Cointelegraph or they believe in the potential for these NFTs to increase in value in the future.
I am just an investor and I look at everything from an economic perspective: I believe that NFTs do have some real value, such as helping to bring NFTs to potential investors among Cointelegraph readers, but valuing them is beyond my ability. I think I should invest in MATIC instead of minting Cointelegraph NFTs, or I will buy FLOW tokens of Flow, the NFT-focused blockchain, because I believe that the NFT trend will soon return this year. Of course, this is not investment advice for MATIC or FLOW tokens.
I want to know your opinion about Cointelegraph NFT:
- Do you support Cointelegraph issuing its own NFTs?
- What do you think about the NFT minting fee of 173 - 208 USD? Would you mint an NFT or buy MATIC?
- Will the NFT trend come back soon in the uptrend of 2024-2025?
References:[1]
Trump’s Digital Trading Cards Sell Out Again For $4.6 Million—But It’s Unclear How Much He Made[2]
Bitcoin whales not selling despite $70K — BTC holdings growth ‘is going parabolic’[3]
Cointelegraph article #125884 in Latest News 9 March, 2024[4]
Turn Cointelegraph articles into NFTs — Early access for 500 readers[5]
Rarible: Cointelegraph Historical Collection[6]
Cointegraph article #105593 from Thu Mar 30 2023
Note:- My opinion was posted first in that topic, on Bitcointalk
- I leave the source link to avoid plagiarism accusation.
- I excluded/ included minor things from an original thread if necessary.