Investors and crypto traders who have lost their money in 2022’s crypto market slump can have a little fun by wagering fake funds on JPEGs similar to fantasy sports. Users of the new NFT fantasy league can pretend-buy NFTs. They can even win prizes if they have the best-simulated portfolio performance.
Brian Krogsgard, the co-founder of Flip, says Fantasy Flip is a way to have fun in a bear market. He highlighted that most traders are too poor to spend Ether they have left on huge sweeps. But they want that sweet adrenaline rush of flipping JPEGs. Krogsgard believes it’s fun for those who want to participate in NFTs but can’t do so with big money.
Fantasy Flip, according to information on the company’s portal, is a platform for free-to-play NFT paper trading competitions. Users can play in leagues and compete against fellow users for bragging rights or prizes from the Flip app.
Krogsgard highlighted that some people may be too poor to transact much in real life, but they still have the spirit and enthusiasm for NFTs. The Fantasy Flip boss said NFT volumes are way down across the board but interest is still high. They are very excited about the future of non-fungible tokens. Dapp Radar says there are 36% more NFT traders now than there were a year ago. But Dune Analytics shared that NFT trading volumes have fallen nearly 97% from this year’s January highs – the high-flying JPEGs do not draw a pittance compared with their peak prices.