Investing base on hype and social influence.

[IjawMan]

You remember sandbox project, right? Yes you do. So let me cheer you up a little about one of the stories that revolves with that project.

This story made my mind go gaga how a person can be a loser by getting in with investment in the wrong project by following the hypes.

There are projects that your losses will have nothing to do with a bear market season effect but by project team mismanagement therefore making you the liquidity door.

Is not the first time it happening how people losing their money dew to bad investment that was triggered by hype or influencial statues. Can this nonsense stop?

[Nwada001]

That rubbish can never stop. People believe more in who is marketing a project over what the project actually represents; they see trends as what can easily give them profit than a project that is silently building but is spending less on marketing. This same shit happened during the NFT hype; many bought art for millions of dollars, which they can’t even sell for a few hundred now.

[Charles-Tim]

Is that not NFT? It was all hyped in 2021 which made them overpriced, but NFT hype later died down and many people sold this NFTs in losses or are still in losses.

Is not the first time it happening how people losing their money dew to bad investment that was triggered by hype or influencial statues. Can this nonsense stop?

I do not think it will stop. Another hype will come, people will rush there. Some people will make money, while many people will lose money.

[$crypto$]

Is that not NFT? It was all hyped in 2021 which made them overpriced, but NFT hype later died down and many people sold this NFTs in losses or are still in losses.

We call her buying virtual land in the metaverse.

Does the Decentraland project still have many enthusiasts? I thought it would last a long time, it was only limited to hype from famous people doing fomo, and the rest was a lot of people losing.

Multi-million dollar NFTS at the time may also be currently down 99%.

[libert19]

This gives me JOMO (Joy Of Missing Out!). I did use to have to high opinion of Sandbox project at one point of time, I am glad I didn't proceed with investing in it or bothered with project in any other way as in, buying NFTs. Sometimes, laziness also has it's use.

Is that not NFT? It was all hyped in 2021 which made them overpriced, but NFT hype later died down and many people sold this NFTs in losses or are still in losses.

We call her buying virtual land in the metaverse.

Does the Decentraland project still have many enthusiasts? I thought it would last a long time, it was only limited to hype from famous people doing fomo, and the rest was a lot of people losing.

Project in question is Sandbox and not Decentraland (MANA).

[MAAManda]

It feels ridiculous to look back at how people got swept up in the hype, another case in point is the Bored Ape Yacht Club (BAYC) project, I’m sure you’re all familiar with it. The floor price for each NFT was once around 152 – 153,7 Ethereum (ETH). But look at those NFTs now, their floor price is only hovering around 5,65 Ethereum (ETH).

Is not the first time it happening how people losing their money dew to bad investment that was triggered by hype or influencial statues. Can this nonsense stop?

I don’t think it’s likely to stop, whether it happens because someone has fallen victim to the hype, or is done deliberately to create a sensation.

[Mrbluntzy]

So this person paid $450k to become a neighbor of Snoop Dogg, I am wondering how much Snoop Dogg must have also put in the project because for someone to have the intention of being his neighbor, it means he also participated in the project and the money he might have put in it will also be big like this one. One thing about some of those wealthy people is that they like to apply the saying of "Buy the rumor and sell the news" They could just see the project, like it and put in some money in it, if it works, that's fine and if it's a bad investment, they will also move on. Snoop Dogg might have already forgotten about this it, including this guy that risked $450k.

[KingsDen]

You remember sandbox project, right? Yes you do. So let me cheer you up a little about one of the stories that revolves with that project.

This story made my mind go gaga how a person can be a loser by getting in with investment in the wrong project by following the hypes.

There are projects that your losses will have nothing to do with a bear market season effect but by project team mismanagement therefore making you the liquidity door.

Is not the first time it happening how people losing their money dew to bad investment that was triggered by hype or influencial statues. Can this nonsense stop?

This should be NFT hype and it did happen some years back and some people owned some virtual crazy things for Millions and thousands which ended in virtual. One funny thing it that, it was obvious that the hype will die off quick but many people still gave in.

One thing I have realized about this type of investment is that some people are filthy rich. I mean, they know nothing more to do with money, so they quickly throw large funds away in order to have some unrealistic fun.

But regarding hype investment, it has gained enough ground that tokens these days no longer have solid white paper and road map, but if they have strong hype team behind them, they will make waves. It's not ending soon.

[Slow death]

This reminds me of a few years ago when my friends called me to ask if I had invested in a certain project whose name I don't remember, but I remember it was a cryptocurrency project backed by some celebrity. My friends were very convinced that the project was very good and had everything to rise significantly in price. Since it was a technology project, I also bought and sold after it went up 3x. But months later I asked my friends how much profit they had made, and the answer was that they had only made losses. I asked how that was possible, considering that the altcoin had already risen 3x and only after months did it fall significantly.

They told me they had been holding for many years because the project could rise 20x and they wanted a lot of profit. I was shocked and speechless. All this because they trusted a famous guy too much. If they dug into the private lives of celebrities on Google, they would see disappointing things. That was my big lesson; I no longer like to watch the lives of famous people. I don't know what they do and I don't want to know. I only focus on news about politics and economics, cryptocurrencies, and my real-world things.

[Baki202]

People won't  learn instead of them to stop following projects that are hyped the issue is they see it has an opportunity to make money and that is why most project are hyped the next thing will collapse and that is why it best you invest in things that are more familiar with, all this social influence will only cost you. So this is more reason why choosing what we buy all in the name of Investment we should be very careful. So that at the end of the day it won't be like we are wasting our money. If you don't get a return then to me it's a waste of money.

[Accardo]

This post reminds of two similar project I used to follow; Decentraland and Crypto kitties. The challenge with ecosystems designed to offer assets people love and buy in the real world is that, if you've got the money you'd definitely fall for the scope. They make a community too good you'd feel like a fool not to purchase and hodl a land or cat. The guy in this post no doubt is a solid supporter of Snoopy, having the funds in his wallet, no way he's going to abandon such an opportunity, seeing a community Snoop is a big part of, he'd trust it for the long term, like many who held digital cats, hoping to sell higher in the coming years, but was met with a fallen price and value.

[uneng]

People will go hype after hype commiting the same mistakes, because they believe next time it's going to be different. These are suggestible individuals who can't judge a situation by their own critical thinking skills. They are easily dragged by advertisements and third party opinions, and end wasting thousands of dollars in stuff which doesn't value a single penny.

In order to protect yourself from such threats, develop your rational thinking and intuition. This way you will be strong and capable enough to understand what is real from what is unsustainable hype or scam.

It's normal to fall for such projects when you are newbie, but there is no excuse to fall for it over and over again along the years.

[nelson4lov]

Those were really crazy times because a lot of people were super hyped about the metaverse and crypto gaming. I didn't indulge during this period of time because I felt with the demand that available then, such prices were unsustainable. Everyone talked about how exciting it was but only a very small amount of people could afford to participate due to how expensive it was.

The same thing happened with bored app. $120,000 per bored ape was just not sustainable despite the hype since it was just a JPEG at the end of the day.

[jossiel]

The hype, the NFT craze and the FOMO at that time was surreal. I think that the famous Paul brothers have also made a lot of losses with the Bored Ape Yacht Club NFT.

Remember also those digital arts and paintings that have been made and put into auctions to become an expensive NFT.

To be honest, it's probably one of the biggest bust in the crypto history and a lot of money laundering happened into these NFTs.

[Jasmyne]

That rubbish can never stop. People believe more in who is marketing a project over what the project actually represents; they see trends as what can easily give them profit than a project that is silently building but is spending less on marketing. This same shit happened during the NFT hype; many bought art for millions of dollars, which they can’t even sell for a few hundred now.

This is called marketing strategy and business people will never stop using celebrities and influencer to cash out millions from people who believe so more in celebrities more than what they advertise. A project without a good publicity will not be known and it will look like a scam even though it is real but you see those projects that spend so much on influencers and celebrities they do not lose the only thing they do is to ensure they use some top celebrities that has the love of the masses if they can spend to make them influence the projects they can scam people they will not believe them to be scam.