Crypto is in a void and your NFTs are losing value every day. What will happen next? Clearly, blockchain’s rough ride is far from over. Although we would like to see a one-size-fits-all solution to allay the fears of those struggling to understand the current state of Web3. the best one can do right now zoom out,
A phrase that has been used far and wide in the NFT space, “zoomed out” has become an increasingly ambiguous term, taking on a wide variety of meanings over the years depending on context. some use it to get deeper context crypto priceto inspire others more holistic mindset than their peers, and others still use the phrase to check them Who can be bitter or arrogant.
Aside from the literal definition, zooming out as a concept carries a lot of weight on blockchain. As with lesser-used crypto-native terms like WAGMI, “zoom out” has become something of a rallying cry for the NFT community, signaling solidarity and a sense of tenacity. And as Web3 continues to brace itself in the post-FTX environment, zooming out is starting to make more sense in times of dire need.
zoom out, literally
Traditionally, zoom out refers to crypto price charts. Probably derived from the common crypto adage “When in doubt, zoom out” (from which T-shirts are even made), it is used by traders to expand their cryptography searches to see the full history of the price index. In this way, “zooming out” is understanding that crypto prices over time, despite several major setbacks, always have an upward trajectory. For example, take the price chart below for ETH.
Chart showing the price of ETH over time. Source: CoinGecko
Although the price of ETH in November 2022 is a long way from what it was a year ago, it is still significantly higher than when the currency first became tradable in 2015. Ask any seasoned crypto enthusiast, and he’ll be happy to tell you through the lens to zoom out, no need to worry about crypto dips. Only by zooming out can traders see crypto’s long-term view and understand that while periods of stagnation are inevitable (such as in 2018 – 2021), a slow upward movement is the inevitable consensus.
What zooming out means for the NFT community
As it pertains to crypto price charts, zooming out helps investors get a better feel for the status of their portfolios. But the NFT community is concerned with much more than just profit. Given the adversity and skepticism the space has experienced over the past two years, “zoomed out” has taken on a much more qualitative meaning to NFT purists.
Zooming out is an exercise in humility for artists and collectors alike. This is illustrated by the chef Web3 Rapper spotty wifiwho said in an interview with NFT Now that zooming out helps him see the bigger picture of Music NFT, reminding him how grateful he is for the acclaim he has earned.
“When I zoom out and look back over the past two years, I am so thankful for how far music NFTs have come and how some indie artists have disrupted the music industry,” Spotty shared. “I knew that platinum artists, Grammy winners and major labels would eventually join Web3 and Metaverse after seeing our success, but I thought it would be years, not months. Excited for the future.
This attitude of gratitude is shared by others in the community, with some (like Loopify and Zeneka below) adding an extra ounce of meaning and helping clarify their hopes and perspectives.
I am 100% convinced that I am right about the long term of the crypto and NFT markets.
My thesis will not change based on short term price movements. zoom out. The best time to learn this is when prices are low, don’t leave positions at the end now.
— Loopify 🧙♂️ (@Loopifyyy) May 8, 2022
Good morning. Why is everyone talking about the fall in crypto prices? Drink a cup of coffee, zoom out, view + rate your JPEG. Maybe buy the dip 🙂 When prices drop, opportunities present themselves. Everything is on sale/discount. Or just forget the price and go out 🙂 🌄
– Zeneca (🔮,🔥) (@Zeneca_33) September 20, 2021
Besides idealistic sentiments, Zoom Out is also regarded by some as a tool for looking into the future. As such, the phrase is used to comment on the overall state of the NFT space, highlighting lessons of the past while providing insight into what is to come. as far as versatile artist nathaniel parrot as for using “zoom out” as a tool to frame for the future is paramount. In an interview with nft now, Parrott said Zoom Out could prove to be an important factor in how the NFT community decides which direction the irreplaceable movement will continue.
“To zoom out, we all need to zoom in and ask ourselves as stewards of the NFT space what we really want in the end,” Tote said. “The responsibility now lies with us as individual participants. What do we spend our money on, what do we spend our time on and where do we focus our attention. We have a long road ahead of us. I still predict that I’m confident the rest of the decade will make artists stronger than ever before, but there’s still some treacherous terrain out there.
Parrott noted that he expects the larger NFT community to diversify in the near future, breaking away from popular market segments and returning to niches such as streetwear, art, collectibles and sports. Given the rate at which things change in NFT space, it might not come as much of a surprise that his zoomed-out prediction comes true. But, as reflected by the feelings of Deadfellas co-founder Betty and major AI-associated artist Claire SilverWhile zooming out can help us understand the full scope of the blockchain industry, we still need to push for real change if we really want a more balanced future.
7/ Open metaverse means freedom of choice. There is room for all of us. If we eat our own, the world will be waiting to take the mess in its lap. This beautiful timepiece deserves better than this. We are smarter than that. Keep the big picture in mind. zoom out.
— Claire Silver 🌸 (@ClaireSilver12) December 6, 2021
“That’s too many men” – factual observation that could spark a conversation about hiring, retaining, encouraging women in STEM, breaking gender roles from a young age to ensure participation, etc. Instead, people put Elon under press to cast shadow. Let’s zoom out.
— betty (@betty_nft) November 19, 2022
zoom out, stay healthy
Regardless of the intent, the meaning behind the phrase “zoomed out” is immediately understandable, both in the NFT space and in the general realm of blockchain technology. Even if things go from bad to worse, as the recent FTX debacle highlighted, hope can be saved by a reminder that things can get better over time. Whether driving up crypto prices, or NFTs leading to mass adoption through new use cases that help make the world more just, understanding blockchain’s future potential is essential. The first step is to zoom out.