Summer in NY
Winter in Crypto
I was in New York attending NFT-related events during last week — aka NFT NYC.
I don’t really have a baseline to compare the mood since I wasn’t here last year, so take my words with a grain of salt. I thought the bear market was going to affect the scale of the event somehow, but I don’t think that was the case (well I guess most parties were organized prior to the last drawdown).
If I had to summarize the zeitgeist I would say it’s “wait and see”. Many people are capitalized but not really keen on deploying the capital for now.
Bad news for projects doing marginal improvements on already existing platforms, or for the 10th DAO tooling company building a slightly customized version of what all the others are building.
Good news for projects with a credible claim that they’ll be around for the next cycle.