benson eh?
Think about it, is someone going to transfer £100,000 to Binance, exchange it to Ethereum then buy an NFT?
That is technically possible but just doesn’t happen. Remember NFTs are bought with crypto and most rich people in crypto bought in years ago when the prices were much lower.
Take the Bored Apes for example which are minted on Ethereum, people were buying and selling in Ethereum, most of which was purchased for peanuts. Back in 2021 when each Ethereum was worth $4k, when someone bought an Ape for 30 Ethereum, it sounded a lot in FIAT (for dave) terms but in actual fact it wasn’t costing the buyer a lot.
