A lot of you are probably realizing now that there's only a finite amount of liquidity and a relatively small pool of people actively trading NFTs.
That's why everything feels like a game of hot potato right now. Most new collections won't hold up when there's a wave of mints launching every single day.
As a result, people jump from one thing to the next. There isn't much organic demand outside of the group that's already here.
Until we find a meaningful way to onboard new people, that likely won't change.
I don't really blame anyone or anything for this. A lot of people are still burnt from previous cycles and hype waves, and they've lost trust in most new mints.
They get in, and they get out. Many such cases.
There were teams selling out collections for $1M on chains like Abstract just a year ago that are now nowhere to be found.
Personally, I'm just a collector. I don't chase hype waves. I buy what appeals to me and what I believe are good teams, and that's really it.
Even then, you have to be careful. Some of the most popular people on CT with the biggest audiences were the same ones taking advantage of new chains and running off with people's money.
Until we can rebuild trust and attract new eyes to the space, we're going to keep traveling down the hot potato road.
Space Riders.