Many artists are eager to explore NFTs and blockchain technology, but do they truly understand what it means? In this discussion, we dive into the motivations behind artists launching NFT collections, the financial realities of the market, and the decline in value of major projects like Bored Ape Yacht Club. Join us as we analyze the evolving landscape of digital art and the importance of making informed decisions in the Web3 space.
Key Topics:
- Why artists are drawn to NFTs and blockchain
- Common misconceptions about launching NFTs
- The financial reality—few artists actually profit from NFTs
- The decline in NFT market value
- Insights from the fluctuating price of Bored Ape NFTs
Quotes:
- "Some artists just want to launch their art as an NFT, even if they don't understand what it means."
- "Only a very few artists actually make money from their NFT collection."
- "Bored Ape's floor price dropped 75% from its peak—who is even talking about NFT collections now?"
