In the wake of falling cryptocurrency prices, Twitch streamer Asmongold expresses his thoughts on NFTs and blockchain currency.
Several cryptocurrencies, including Luna and Bitcoin, have recently seen their value plummet. On social media and YouTube, everyone from financial speculators to Twitch streamers has weighed in on the crash. In a recent Twitch stream, popular Twitch streamer Asmongold expressed his thoughts and opinions on the current market spiral, and he wasn’t kind.
Bitcoin, the most popular cryptocurrency in the world, fell below $30,000 on May 9, reaching its lowest level since July 21, 2021. Given the drop in NFT value and resurgence of affordable GPUs as crypto miners lose interest in blockchain mining, many observers and speculators have been anticipating a market crash of this magnitude for some time. While many celebrities and streamers have promoted a plethora of new coins and non-fungible tokens, Asmongold has long been a vocal opponent of cryptocurrency and non-fungible tokens.
Despite having planned to take the day off, Asmongold felt compelled to go live on Twitch and share his thoughts on the recent crypto crash. Asmongold cackled a lot during the stream as he reacted to YouTuber Coffezilla’s analysis of crypto’s death spiral. The streamer echoes Coffeezilla’s comments, saying that people bet on nothing and that he finds this amusing. Asmongold digs through Twitter posts near the end of the video, giggling at crypto supporters who are still holding on to their investments. Highlights from the stream have been uploaded to Asmongold TV, the streamer’s primary YouTube channel.
Blockchain-based currencies and NFTs, unlike government-backed assets like stocks and bonds, have no intrinsic, tangible value. What an investor is willing to pay for a Bitcoin or a Bored Ape NFT determines the price. Needless to say, current events have vindicated Asmongold, as the Twitch streamer predicted the recent crypto market crash from the start. The cryptocurrency market, on the other hand, is extremely volatile, and its future is uncertain. Bitcoin has risen to new highs after previous dips, but it could also fall further.
The adoption of blockchain technologies, NFTs, and metaverse initiatives are some of the most pressing issues in the gaming industry. Despite the recent crypto market crash and widespread fan backlash, companies such as Square Enix are still committed to incorporating NFTs into their games. While Square Enix’s plans for NFT adoption appear to be stalling due to Final Fantasy 14, which Asmongold frequently streams, it’s unclear what the future holds for the company’s other intellectual properties.
