R.I.P. NFTs on Twitter/X (Can We Call This an NFT Market Bottom?)

X/Twitter is removing support for NFT profile pictures – and we know, we know – who, in the grand scheme of things, really cares?
But the signal could end up being significant, in that: market pundits love to point to events as markers of ‘market tops’ and ‘market bottoms.’
The removal of NFT profile pictures from X/Twitter will mark the bottom of the bear market, and the start of a new bull run for NFTs.

This isn’t important in itself…

But the signal it’s putting out might end up being significant.

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

(Very few people, we’d guess).

But the signal could end up being significant, in that: market pundits love to point to events as markers of ‘market tops’ and ‘market bottoms.’

E.g. Everyone pointed to the collapse of FTX as the start of the last bear market.

The same way they looked at the conviction of Sam Bankman-Fried and guilty plea from 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, shape, or form in the past…

Reddit is now the last one standing.

Here’s our hope at what will end up happening from here:

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

🤞 Fingers crossed 🤞