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Long-Anticipated NFT Winter Ahead; Gary Vaynerchuk Explains

Published 2022-12-12, 12:27 p/m
© Reuters.  Long-Anticipated NFT Winter Ahead; Gary Vaynerchuk Explains

  • Gary Vaynerchuk provided explanations for his previous declaration that 98-99% of NFT projects would go to zero in the next year.
  • He illustrated three main causes— oversupply, momentary greed, and naïve operations.
  • The NFT winter would see declined sales volume, low prices and poor investments.

Gary Vaynerchuk, better known as Gary Vee, the Chairman of VaynerX and the CEO of VaynerMedia, released a detailed explanation of why he has previously commented that a major portion of the NFTs would “go to zero”.

On November 22, Gary tweeted that 98-99% of NFT projects from the 2021 NFT year would become “bad investments” in the upcoming years:

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