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Crypto is in a nosedive, and your NFTs are losing value daily. What\u2019s next? It\u2019s clear to see that the blockchain\u2019s rough ride isn\u2019t over, not by a long shot. While we\u2019d love to see a one-size-fits-all solution to assuage the fears of those struggling to grasp the current state of Web3. The best anyone can do right now is to zoom out<\/em>.<\/p>\n A phrase that has been used far and wide across the NFT space, \u201czooming out\u201d has become an increasingly ambiguous term, enjoying a broadening variety of meanings over the years, depending on the context. Some use it to acquire deeper context on the price of crypto<\/a>, others to inspire a more holistic mindset<\/a> than their peers, and others still use the phrase to check those<\/a> who might\u2019ve become bitter or arrogant.<\/p>\n Aside from its literal definition, zooming out carries a lot of weight on the blockchain, as a concept. Somewhat similar to lesser-used crypto-native terms like WAGMI, \u201czoom-out\u201d seems to have become a sort of battle cry for the NFT community, indicating a sense of togetherness and stick-to-itiveness. And now, as Web3 continues to brace itself in a post-FTX climate<\/a>, zooming out is beginning to deliver more meaning in a time of urgent need.<\/p>\n Traditionally, zooming out refers to crypto price charts. Likely derived from the common crypto proverb \u201cwhen in doubt, zoom out\u201d (of which even t-shirts have been made<\/a>), it is used to urge traders to expand their crypto chart viewfinders to see the full history of a price index. In this way, to \u201czoom out\u201d is to understand that over time, regardless of many major setbacks, crypto prices always have an upwards trajectory. Take the below price chart for ETH, for example.<\/p>\n While the price of ETH in November 2022 is a far cry from where it was a year prior, it\u2019s still significantly higher than when the currency first became tradeable in 2015. Ask any seasoned crypto enthusiast, and they will gladly tell you<\/a> that through the lens of zooming out, crypto dips need not be worried about. Only by zooming out can traders see the long-term vision of crypto and understand that while periods of stagnancy are unavoidable (like 2018 \u2013 2021), a slow grind upwards is the inevitable consensus.<\/p>\n As it pertains to crypto price charts, zooming out helps investors feel better about the state of their portfolios. But the NFT community is concerned with much more than the bottom line of profits. Considering the adversity and skepticism<\/a> the space has continued to experience over the past two years, \u201czooming out\u201d to NFT purists has taken on a much more qualitative meaning.<\/p>\n For artists and collectors alike, zooming out is akin to a practice of humility. This is exemplified by prominent Web3 rapper Spottie WiFi<\/a>, who said in an interview with nft now that zooming out helps him see the big picture of music NFTs, and reminds him how grateful he is for the accolades he\u2019s accumulated.<\/p>\n \u201cWhen I zoom out and look back on the past year or two, I\u2019m super grateful for how far music NFTs have come and how just a few indie artists have disrupted the music industry,\u201d Spottie said. \u201cI knew that platinum artists, Grammy winners, and major labels would eventually enter Web3 and the metaverse after seeing our success, but I thought it would take years, not months. I\u2019m proud to have been on this wave for the past couple of years and am excited for the future.\u201d<\/p>\n This attitude of gratitude is shared by others in the community, with some (like Loopify and Zeneca below) tacking on an extra ounce of meaning here and there to help illustrate their hopes and perspectives.<\/p>\nTo zoom out, literally<\/h2>\n
What zooming out means to the NFT community<\/h2>\n