Why should NFT collectors be patient?
Sources:
NFT collectors should be patient for several reasons:
-
Long-Term Value: The first pieces created in any trend, like NFTs, may initially seem insignificant but can appreciate significantly over time. Just as early Supreme products or Pokemon cards became highly valuable over years, early NFTs may see a similar rise in value as the narrative and brand around them develop 1.
-
Avoiding FOMO and Impulse Buying: The impulse to rush into buying NFTs out of fear of missing out can lead to high-risk investments. Instead, taking time to get educated and understand the market can help collectors make more informed and potentially profitable decisions 2.
-
Community and Culture Building: Successful NFT projects often support a community or culture. Building this requires time, and collectors who contribute to and wait for this development may benefit more. Projects need room to grow and mature, and suffocating them with immediate high expectations can lead to failure 1.
-
Market Stability: The NFT space is still in early stages and undergoing lots of experimentation. Patience allows collectors to see which projects survive and thrive long-term, similar to how early internet companies evolved and new giants like Netflix emerged 2.
Overall, patience allows collectors to make thoughtful decisions, observe the market's evolution, and be part of the larger story of NFT culture and innovation.
RELATED QUESTIONS-