A claim we are all hearing is that NFTs are in a bubble. It is very possible for some projects, because their prices may be driven more by FOMO than quality or utility. I do not think Zed Run is in a bubble when compared to IRL racehorse ownership. This article is to dive into that argument.
Much of the current NFT market is being driven by the fear of missing out. Most news stations, even local, are discussing NFTs in one fashion or another. Whether it is their environmental impact (please see bitcoin’s greenhouse emissions) or their adoption by top names and organizations; NFTs are everywhere. When future stable owners reach out for advice, I always send them to why I invest my time and money into Zed Run. A consumer driven by FOMO will learn hard lessons on due diligence. I encourage any project a user discovers to be thoroughly researched before investing.
As of this writing, prices are continuing to increase. The breeding barn is still closed, and the market forces to lower costs through increased supply are unavailable. Unraced and unbred genesis pricing will continue to rice, but should be slowed by the additional breeding. Last week, a Z1 Nakamoto was 18 ETH and now I am hearing 20. It $60,000 too much? Or, was the $120,000 for Billions overpriced? I do not think so.
Horses are some of the most expensive animals to maintain. If you want to be a veterinarians, it is best to go equestrian. The cost of horse ownership can vary greatly on the depending on the work required of the horse, but eventually they all need to see the vet. Research performed by the University of Maine found hobby horse ownership was nearly $4,000 on average (link). The price of owning and maintaining a racehorse is much more costly. Most estimates fall around $40,000 a year (link).
I do agree that many NFT projects are in a bubble due to lack of quality or utility. However, Zed Run horses are still a considerably cheaper than their IRL counterparts. When a stable is purchasing a new horse, they can view that initial purchase as the lifetime expense of that horse. A $40,000 lifetime cost upfront is the cost of a single year of ownership IRL. For these reasons, Zed Run is still a steal.
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