After proper consideration and observing the trends of the market, I've decided that I'll never buy a Profile picture NFT again.
I've minted a couple of profile picture NFTs in recent times, and for the most part, I had no particular reason to mint them.
The first one I ever minted was Hive punk and I've held on to three of them since I got them. I honestly have no clue what to do with them.
For what it's worth, when I got the punks, I actually thought they'd be used for something. I didn't think they'd just be sitting in my wallet.
Other than punks, I also have Hive folks NFT of that has also been sitting in my wallet for a while. There's not been any talk of further development in the project.
I was hoping there'd be a game or some project surrounding the Hive folks NFT. Unfortunately, there's not been word about further developments but I'll keep checking.
I also bought a Splinterlands Dice NFT gif but that one was just random. Almost immediately after I bought it, the floor price dropped hard. I only paid for it because I thought it was cool.
Finally, I have one if those Hive Bee NFTs in my inventory. I got that one for free, so I just look at it. At some point, I might just list it for sale and see what comes out.
Need utility
Any NFT that doesn't offer some utility will not be entering my inventory from now on. So, in essence, I'm saying that I'll only pay for non fungibles that are related to games.
Right now, most of my attention is on Splinterlands and I intend to keep it that way for a long time. The aim is to slowly rebuild my deck, one splinter at a time.
The whole profile picture NFT thing doesn't seem to be going away anytime soon. Every day, I see new projects popping up with different randomly generated pictures.
I think all the projects that don't create an actual product around their pictures will be slowly phased out. Basically, it means that nobody will buy your pictures and you'll hold them till infinity.
That's why projects like BAYC took advantage of the hype and crazy money their community had to launch a token. They're talking about launching a metaverse game soon that will most likely be successful because of the insane money flowing in the project.
In summary
My punks and my other Hive NFTs are just sitting in my wallet. Their only utility right now is simply to look at.
I really hope that the projects I'm invested in will create something that adds utility to their NFTs. Else, they'll all just become forgotten relics that sit in your wallet forever.
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