NFT bubble bursting will be the last straw.

Flaired anecdotal so obviously this is my own opinion. Don't know shit still applies. But hear me out.

People keep arguing whether the current market state is in a bull or a bear market. Everyone's unsure about the current state of the matter. But for me, bear market will definitely hit once the NFT and metaverse bubble bursts. This part of the crypto scene has been booming for more than almost a year now, everyday there's a celebrity and their mother releasing their own NFTs or new metaverse projects. It doesn't have to be a shitcoin/memecoin that is trending, my indicator would be if even normal people suddenly gets interested to the cryptoscene, and for this instance it's the NFTs and the metaverse that is in every news page. A lot of beginners seems to be flocking crypto subs, wasn't that a sign in the past? And most if not all of these people wouldn't last when the bubble burst, and they'll feel scammed out of their money, because they are now holding nfts that nobody wants. The sentiment will definitely turn around, and hope will be lost.

It is also baffling that 90% (just throwing numbers) of the people in this sub hate memecoins to the bone, but it seems like the love/hate relationship with nft/meta is evenly split.

We all know that the current state of NFTs and metaverse is shit, there's really no argument in that, literally all people are in the scene because of the ridiculous gains (?) And hype that it gets. Don't get me wrong though, I believe that the concept of NFT and metaverse in next level, and I'm definitely looking forward to it, but the current state and quality is just plain shitty.

If this does happen, I hope that the next bull market starts when we are actually utilizing NFTs properly and the metaverse is not full of prices from 2050s.

TLDR: NFT/meta burst – we all burst into tears.