“This place is volatile as all hell,” but the Skullkids’ NFT founder isn’t worried

The NFT downturn spurred on by the broader cryptocurrency crash has a lot of people worried, and some delighted. But what does it really mean and should those invested in creating and collecting NFTs be worried?

Badfoot, aka Jack Davidson, the founder of NFT success Skullkids says, “no, I don’t think NFTs are dead. No.” This comes after the reported NFT crash has seen transactions drop by 92% since this time last year, though these stats are debated. Non-fungible tokens are a way to create rarity in digital files by registering them on a blockchain, you can find out how to create an NFT for free in our guide.

Davidson is currently launching his latest NFT project, Skullkids: Generations, and is buoyant about the state of the market. His view is clear, the recent Yuga Labs sale of Otherdeeds NFTs burnt $ 300 million of Ethereum out of supply and many people “got burned in the gas wars,” and this means the market needs time to “take a breath and have time to recover “.

Badfoot aka Jack Davidson believes NFTs are still the future of art but people need to manage their expectations (Image credit: Badfoot)

The successful NFT artist, who turned his graffiti art into an NFT art empire, says “This place is volatile as hell [and] negative energy is easier to be contagious than positive energy […] people want to see the world in flames. People want to see chaos happening. “

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