Are NFTs a Digital Bubble?

Bubbles in any industry aren’t inherently bad. While they can be quite exciting, you have to always be prepared because they will pop! Bubbles are a product of human psychology and greed. NFTs aren’t guaranteed to lead to a bubble. But at some point, sooner or later, the prices of some of the most hyped NFT collections are likely to experience some downward volatility. As the industry matures, steps need to be taken to prevent scammers from stealing art and money. It will likely be needed to shake out the weakest use cases. Many years from now, NFTs may be used for more things than anyone today could imagine, but that growth will require some pain. 

NFT scams and bubbles are everywhere today. You should definitely be cautious. After all, the whole point of NFTs is the transparency of ownership and authenticity, so always study information on how these bubbles and scams are happening in the first place and what can you do to avoid them.

The NFT market appears to be here to stay — even after the bubble pops.