NFT, one step away from the bubble?

The more I look at this Non Fungible Token (NFT) thing the more I get the feeling of a bubble like the one experienced in 2008. Certainly history repeats itself over and over again, the problem is that people still do not learn from it, unfortunately they realize the mistakes when it is too late and the money flew out the window. Once I was talking to a friend about the crisis of the dotcom with respect to cryptocurrencies, now the more I study this phenomenon of NFT the more I relate them to the tulip bubble in Holland during the sixteenth century. Basically in that country the population suffered the fever of investing in this type of flowers, and well, the rarer their colors, the higher the price of their seeds, bulbs similar to onions, became.

People, especially those who depended on a salary, saw this type of investment as attractive, sold their houses, applied for credits (leverage) and started to buy these tulip bulbs from Turkey. It was an investment that seemed very attractive: you bought in the morning a seed that was worth the same as your salary, then you sold it at the end of the day for three times what you had invested. If the tulip germinated and came out a rare flower (red with white stripes was the most valuable) you could sell it for 100 times what you had invested.

But the party always ends, so much madness had a very dramatic end when the bubble burst. Prices plummeted, debts became unpayable, suddenly almost everyone was bankrupt and the social and personal problems typical of that situation were not long in coming.

I am seeing something similar here in my country, Venezuela with the NFT, especially with a game called Axie Infinity, which the more I see it the more I distrust it. Here many people have sold their houses, cars and have even gone into obscene debt to put this money in that game, now with the market in fall desperation abounds in the population.

It is tremendously sad to see how people lose everything for a bet, because the vast majority of these NFTs are just that, a bet. The worst thing is that they do not realize the danger behind the business, they think they can master it, that they have the power to pull out in time, that there is no way to lose because they know what they are doing, and you see, when the market falls the disaster begins, just like the Tulip case.

While I may be generalizing, but in this world of cryptocurrencies not everything is designed for you to always win, on the contrary, many aspects are given to take money from you so it is important to be vigilant, study hard and not be tempted to invest in things based on their popularity rather than in an evaluation of your costs and benefits.