Asmongold Shares Thoughts On NFT Crash

Ennan Zapanta May 21, 2022
Asmongold Shares Thoughts On NFT Crash

Asmongold, a Twitch star who has been a vocal opponent of the technology from its beginnings, couldn’t help but laugh at the enormous crash of the crypto and NFT markets.

Right now, both the cryptocurrency and NFT markets are in utter freefall. Luna, one of the most popular cryptocurrencies, has practically lost all of its value in a matter of days. Asmongold has long been a critic of cryptocurrency investments, claiming that young investors are in over their heads when it comes to the new technology, causing his reaction to the recent crash. The 30-year-old streamer stated he wasn’t planning on going live on Twitch, but when he heard about the crypto meltdown, he couldn’t help himself.

He said; “I was about to post that I wasn’t gonna go live today. And then I thought, you know what, it doesn’t matter how I feel. I’m not gonna miss the day where NFTs f**king die.”

Asmon burst out laughing, having spent a long time railing against both NFTs and crypto in general. He continued; “I never feel bad for people who lose their money in this stuff. Because you’re betting on nothing. And as soon as people realize it’s nothing, they start selling and the price goes down.”

Asmon concluded about the crash saying; “It has no intrinsic value. If everybody thinks it’s not worth anything, well, then it’s not wort anything.”

Cryptocurrencies, unlike equities, are not producing assets like companies, therefore their value is largely determined by what people are willing to pay for them. The Twitch star was ecstatic, as he had been claiming since the beginning that neither crypto nor NFTs were good investments.