RIP NFTs on Twitter/X (can we call this an NFT market bottom?)

TL; DR

• X/Twitter is removing support for NFT profile photos – and we know, who really cares in the grand scheme of things?

• But the signal could be significant, in this sense: market experts like to point to events as marking ‘market tops’ and ‘market bottoms’.

• The removal of NFT profile photos from X/Twitter will mark the bottom of the bear market and the start of a new bull run for NFTs.

Full story

In itself this is not important…

But the signal it sends could be significant.

X/Twitter is removing support for NFT profile photos – and we know, who really cares in the grand scheme of things?

(Very few people, we imagine).

But the signal could be significant, in this sense: market experts like to point to events as marking ‘market tops’ and ‘market bottoms’.

For example, everyone pointed to the collapse of FTX as the start of the last bear market.

The same way they considered the conviction of Sam Bankman-Fried and the guilty plea of ​​CZ (former CEO of Binance) as the start of the current bull run.

So far, Facebook, Instagram, X/Twitter, and Reddit have supported NFTs in some way in the past…

Reddit is now the last one standing.

Here’s our hope for what happens from here:

The removal of NFT profile photos from X/Twitter will mark the bottom of the bear market and the start of a new bull run for NFTs.

Fingers crossed