OpenSea And NFTs : The Drummer And PallBearers Effect.
hive-167922·@teesart·
0.000 HBDOpenSea And NFTs : The Drummer And PallBearers Effect.
So there has been crazy traffic coming into the NFT space particularly on Opensea in the last few days which is mostly as a result of recent sales of the famous pallbearer/ coffin dancers meme that sold for over a million dollars and how a photograph of an old male street drummer was sold as NFT and the proceeds from the sale given to him. These two news have been the buzz in the past week about NFTs and how they could literally change the lives of individuals regarded to be ordinary in the society.  [Image source](https://www.kaohooninternational.com/cryptocurrency/507883/) This news has resulted in massive traffic on Opensea and it is the highest the platform has gotten since the beginning of the year as more people are looking towards the direction of NFTs for some good news via sale of their artworks. I've received countless messages from people even from my grandma on how to get started with NFTs and OpenSea. Everyone wants a taste of the honey which is great but at what cost?  [Pallbearers](https://www.myjoyonline.com/ghanaian-funerals-the-way-forward-in-the-covid-19-era/) While I understand this would be helpful to creators, there would be some really crazy competition for sales in the NFT space in the coming weeks, months and years. I've seen this play out on several NFT platforms where there are more sellers than buyers which leads to a higher supply than demand and this imbalance would create some crazy competition among creators. Sales on Open Sea are at their lowest since the beginning of the year and with the current events, it may just be the beginning.  [Old drummer](https://empireloaded.com/young-man-fulfils-promise-gives-old-man-50-of-over-n1m-he-got-from-selling-his-photo-as-nft-video/) One of my major concerns however is the increase in art theft that would be happening in the coming weeks and months. Everyone wants a piece of the pie even if they're not cut out for it. I've had people asking about how they could screenshot photos from Instagram and sell them as a NFTs without the knowledge of the original creator. I've personally had to deal with such situations myself and this is simply bad news to NFTs and their platforms. Now every collector has to do some form of background check and be extremely careful of what they buy. People would do anything for money and art theft is just another thing some people would resolve to for a couple bucks. Looking at the bigger picture, the traffic is good news for crypto and blockchain tech as more people are beginning to understand how they could change lives for better and have access to abundant opportunities present in this space. Hopefully there would be more NFT platforms that would create a balance and make things easier for everyone.
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