Asmongold Says That Spending Thousands Of Dollars On NFTs Is ‘Ridiculous’

With the world of cryptocurrency and blockchain catching momentum, many social media influencers have also jumped on to the scene.

Some internet celebrities have touted their own investments while others have gone to invest in private. However, it is certain that NFTs, Crypto, and the Blockchain is gaining wider traction each passing day.

‘Have People Lost Their Minds?’

Amidst all the blockchain and NFT craze, Twitch streamer Asmongold has very strong views that he shared with the world recently.

“Am I the only one who finds people scrambling to spend thousands of dollars on a picture of a monkey ridiculous?” asked the Twitch streamer to his audience via via his official Twitter handle. He seemed to question the real-world use of NFTs.

“Am I out of touch, or have people lost their minds?”

Reactions

While his question was legit, few people on the Internet thought that it was framed in a misleading way. These people went on to defend NFTs and put forth their own opinions.

“Of course it sounds ridiculous when you phrase it like that. But you can say the same thing for WoW. “Am I the only one who finds people scrambling to spend thousands of dollars on a game they already paid for, to keep playing it?”

However, while a small portion of the online community disagreed with Asmongold, the general consensus was that NFTs are valauable but only if used in the right manner.

 One comment said “The technology will evolve and be very valuable but yes, things like BAYC and profile pic NFTs are cringe. Agreed.”

Upcoming NFT Funds

Recently, asset management firm Arca Investments launched an NFT fund that aims to raise $30 Million. At the time of writing this article, the fund has also raised $11.4 million from 68 investors. Only the existing Arca Limited Partners are eligible to subscribe to the NFT Fund.

According to CoinDesk, the Chief Marketing Officer of Arca Sumana Maitra said that “We decided to create a standalone vehicle based on the lifecycle of the NFT ecosystem … [that] was mature enough for a fund but still very early.”

The NFT fund will be managed by Sasha Fleyshman and Jeff Dorman will lead it as the Chief Investment Officer.

What are your thoughts on the whole story? Tell us in the comments.