Is The Bottom Finally in?

Steve Aoki, the globally recognized DJ turned NFT degen, has sold and listed a substantial amount of his NFTs. The DJ, in detail, has listed hundreds of NFTs, from the most prominent collections to ones that are no longer significant. So, does this mean the bottom is in? Let’s dive into it.

The sell-off

As many may know, Aoki is an active member of the NFT community and has formed a collection of 4k digital assets. Nonetheless, 15 days ago, Aoki started to sell off hundreds of his NFTs on Opensea. He has listed and sold some of the most notable projects in the space. Some examples include Goblintown, 3Landers, Coolman’s Universe, Dippies, Creature World, Karafuru, 0n1 Force, Alien Frens, and Cryptomorries, amongst many others.

Before you panic and think NFTs have come to an end, just note that Aoki didn’t sell his entire collection. The famous DJ kept many blue-chip NFT collections, such as BAYC, PUNKS, Azuki, and Clone X. This says a lot about what he thinks about these collections and where they are headed.

Many community members voiced their belief that Aoki is selling the NFTs to harvest tax losses before the end of the year. This is most likely the case. On the contrary, when taken at face value, one could also conclude that Aoki sold all the projects that have significantly lost value. Perhaps it’s both reasons; we’ll never know. Moreover, as surprising as it may sound, many NFT community members looked at this situation as a good thing. “We’re about to moon, hold on tight,” tweeted Twitter user @JA50Neth. Other users voiced how bullish the news was, confirming that the bottom is in.

To specify, the Aoki curse is the source of the community’s joy and sense of relief.

This is wildly good news

— matt (@mpt_matt) December 30, 2022

Is the Steve Aoki curse over?

According to the urban legend amongst the NFT community, everything Aoki touches turns to dust. Many collections that the famous DJ has aped into this past year have drastically decreased in value. As a result, various communities were concerned about the DJ’s involvement in their project. Furthermore, Aoki is tied to several collections that previously saw a decrease in value, such as Azuki, Goblintown, and more. With his NFT sell-off in full motion, this seems like it could be the end of the Aoki curse, for now.

In sum, nobody knows where the bottom of this rough market lies. All we know is that Aoki is selling his NFTs, which can be considered both a good and bad thing. But it all depends on your feelings about his NFT sell-off. As it stands, it seems like Aoki is here for the long-term, so we can expect him to participate in the space in the new year.