I’m not so sure about NFT since I’m not an expert on the industry. But, if you really think about it, if there is one product (I just label it as product. It can be stocks, NFT, Bitcoins, Forex, etc.) that is crowded with people and the hype is a bit out of control, more often than not, you will find that it being manipulated or something. You can find it in bitcoins, Gamestop, WTI during covid, Axie Infinity and so much more.
If the hype is a bit out of control, I think it’s better to stay away or at least manage your risk.
Personally was excited about the potential of NFTs, I thought it birthed a whole new wave of creatives across the globe even though the art pieces were not so palpable as the ones from your DaVincis and Van Goghs. Never bought one myself either, but got gifted a couple by a friend in the cretaive space who did well for himself. I do wonder if NFTs could find a way to be more stable in the future.
Problem I’m having with the NFT space is the gas prices are just ridiculous. To the point I’m now going to try and sell all my NFT and move those funds into my stock market portfolio.
Thanks for the detailed reply. Mercedes do make very good engines. Value for money its hard to beat Ford. My grandad was a self made millionaire back in the 80s and he only bought Ford Mondeo models. In my work 99% of cars are leased and they complain about a £1000 repair bill for a £100,000 car. Every car I have owned is 2nd hand and cash. No point buying a depreciating asset unless you simply do not care about that money.
An opportunity presented itself on 30Dec2023, which I took up and will remember as one of my best “trades” of 2023. I bought a C class Mercedes from a motivated seller who was flying out to the USA on 2Jan24 and could not sell his car. I bought it at risk and sold my 10 year old E class one month later. The total transaction cash flow was minus £1,500 including a new key from Mercedes to the tune of £400! I got a car four years younger and with 100,000 miles less on the odometer, with an aftermarket 12 inch Car Play screen installed by the previous owner, for a net cost of £1,500. I look forward to another 4 years driving at an insanely low cost per year. My best Mondeoman car purchase to date.
I kinda expected the NFTs to return with the recent price surge in crypto. Do you also personally own any NFT or are you considering to invest in some?