It would be inaccurate to claim that NFTs creators, collectors and traders don’t care about the value of their assets in dollar terms. However, there is, in part, an NFT outlook by which 1 ETH equals 1 ETH, meaning that NFT prices are tracked in crypto terms, rather than fiat amounts.
This perspective pays a little less attention to short-term crypto prices, preferring to focus on what is being built in the NFT ecosystem, while maintaining an underlying confidence in the long-term future of ETH, and some of the other cryptocurrencies in which NFTs are priced.
A major benefit to this mindset is that it’s more natural to maintain a relatively optimistic sentiment when that sentiment is not bound up with day-to-day price movements. Set free from endless market analysis, it becomes easier for NFT participants to hone in on creativity, art, and tech practicalities.
That last aspect, practicality, may seem counterintuitive, considering that NFTs are often disparaged by observers who haven’t recognized what non-fungible forms of crypto might actually be used for.
However, utility is a constant point of discussion in NFT communities, with constructive debates around how NFTs can provide value, and what kinds of practical facilities they might enable, across sectors.
While crypto prices relating to the underlying blockchain are not always the most upfront part of NFT discussion, something that is sometimes tracked and speculated over more closely is the concept of meta.
The word meta has, in tech and crypto worlds, come to be associated with metaverse development, and may bring to mind the parent company of Facebook, which famously rebranded itself as Meta in 2021.
However, when it comes to NFTs, which, in true countercultural style, have incubated their own modes of speech and idiosyncratic terminologies, meta has its own distinct meaning. Within this context, meta refers to the concepts, memes and stylistic leanings that are driving the NFT space at any given time.
NFT meta can originate from a single project that becomes influential, and then shifts the direction that incoming new collections begin to take. Certainly, some meta-following newcomers are simple copycats, but, at other times, meta is played with and evolves in interesting ways, as newer collections pick…
