Nonfungible token (NFT) analyst and blockchain detective “OKHotshot” has highlighted his picks for 18 of the most “uncomfortable truths” about the NFT industry.
In a lengthy 20-part thread to his 45,000 followers on Twitter on Aug. 27, OKHotshot laid bare many of the issues currently plaguing the NFT industry, including irresponsible celebrity endorsements, hacking, and the kinds of projects that are almost always destined to fail.
The analyst made his name in the industry as a full-time on-chain analyst specializing in NFT audits and Discord security operating under as @NFTheder on Twitter.
Most NFT investors will lose money
One of the most sobering “uncomfortable truths” shared by the NFT analyst is that most people will lose money investing in NFTs.
OKHotshot said there are “no reliable stable investments in NFTs” warning that if an investor hears the term “blue chip NFT” to “run away.” He also warned that “diamond handing” isn’t the best way to make money, instead, investors...
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