Hold up…are NFTs back?? | Web3 Daily

TL;DR

• Just in case you’ve missed it: the crypto market has shot up over the past few weeks! And in theory, that means the NFT market should have followed.

• Bad news: the gains haven’t been as impressive some as alt coins, like Solana (which has doubled this past month).

• Good news: the NFT space still rebounded a solid 32% in the month of October.

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To absolutely butcher an analogy that we first heard from Raoul Pal…

NFTs are the ‘real estate’ of the crypto market.

I.e. for real estate (NFTs) to go up, the overall (crypto) market needs to go up first.

Just in case you’ve missed it: the crypto market has shot up over the past few weeks!

And in theory, that means the NFT market should have followed.

Bad news: the gains haven’t been as impressive some as alt coins, like Solana (which has doubled this past month).

Good news: the NFT space still rebounded a solid 32% in the month of October.

That ain’t bad for an industry that was called ‘totally worthless’ by Rolling Stone the month previous.