Did the value of NMT go down?

[IonicKarma]

Rant incoming:

Im so upset about the duping glitch that I can’t even really put it into words. This game has brought so much joy into my life and NMT as a new currency made trading for stuff I wanted so much easier because they stacked in 10s and used to be worth like 200k per ticket, meaning you were dropped basically 20 stacks of bells in one stack.

I spent multiple weeks just farming for tickets and items with high ticket values so I could obtain everything I wanted in game, find my dreamies, and trade for art here and then one day, boom, it’s now worthless all due to people selfishly duping items and ruining the market.

I knew NMT was bound to go down eventually because over time, people will become less interested in villager hopping but I still expected it to remain a currency item for the near future, maybe dropping down to 1:10 TBT or 1:100k IGB

Instead, we are quickly heading into the new leaf territory where nothing is worthwhile anymore. Since everything, including NMT can be duped, what’s the point of buying anything from anyone anymore.

Originally, before the duping glitch, I was one of the biggest advocates to using NMT as currency and expected it to stabilize after awhile, but now, it’s worthless.

I guess I am glad I sold almost all my NMT for TBT before this hit cause it’s just devastating. Takes the fun out of the multiplayer aspect because really what else is there to do in multiplayer? We don’t have minigames and there’s not really much you can do other than show off your island, but you can do that by video too...

 

[SarahsNY]

I knew NMT was bound to go down eventually because over time, people will become less interested in villager hopping but I still expected it to remain a currency item for the near future, maybe dropping down to 1:10 TBT or 1:100k IGB

I agree with your whole post, but this part especially. I never traded nmt for tbt before since I have very little interest in forum collectibles (heck I bought nmt with tbt) but now I am just to minimize my losses. I know I can wait it out and maybe the market will stabilize, but let’s be honest I’ll never play this game as much as I’m playing it now. Trading has been a ton of fun for me, even watching prices fluctuate has been interesting, but watching a market you’re invested in time-wise crash completely is never fun.

Man I feel like I’m on Wall Street, lol! I should do a write up on this whole economy sometime, it’s really interesting as much as I’m hurting with this crash. People duping nmt is basically equivalent to governments constantly printing money, no one really wins.

 

[pammyspyce]

What is a TBT?

 

[FireNinja1]

What is a TBT?

It's the forum currency that you get for making posts.

 

[sleepydreepy]

I’m feeling the burn of it losing value as well, I have a ton of nmt laying around from trades I’ve been saving. I’ve been selling them for really cheap for tbt, I’d love to get more for them but I have so many I don’t mind too much. I disagree with the low bell value though, I’ve sold them for 200k here super recently, and if you go on Nookazon they’re still worth quite a bit of bells.

Edit: Oh wow, someone is selling nmt for 1 tbt each now. No hate, but at that price it simply isn’t worth trading anymore to me. I remember 10 tbt per being the norm for a long time, then 5 tbt, then like 3 tbt (what I had to sell for to get any business), now 1. I feel like I’m playing the stock market!

Basically, the NMT : TBT rate is really messed up. The NMT : IGB and TBT : IGB ratios have stayed fairly stable over the past few weeks, however. It's difficult to give a conversion because NMTs are largely being sold by people who:
a. have a LOT of NMTs to sell, and
b. are looking to make large amounts of TBT
Because there's an influx of supply, combined with relatively low demand, the NMT : TBT rate has dropped through the floor. The exchange rate from TBT to IGB and from TBT to NMT make sense, but you can't use that to infer the NMT : IGB rate because of the skewed NMT : TBT rate.

(i hope this makes sense, real talk i have no clue if it does)

I feel like I kinda disagree with you guys who are saying NMT to IGB are stable because like I said, NMT seem to only sell around here for 10K each and not 200K anymore. Or at least thats from my experience! I haven't had any luck selling my NMT at 200K (but now I decided to just wait to sell), but idk

 

[FireNinja1]

I feel like I kinda disagree with you guys who are saying NMT to IGB are stable because like I said, NMT seem to only sell around here for 10K each and not 200K anymore. Or at least thats from my experience! I haven't had any luck selling my NMT at 200K (but now I decided to just wait to sell), but idk

I think that the NMT : IGB ratio is declining, which I guess could be seen as instability, but I haven't seen anything that would indicate that it is as unstable as the NMT : TBT ratio. 200k is starting to be towards the higher end of NMT prices though -- 100-150k each is starting to become more normal.

 

[SarahsNY]

I don’t think it’s stable per say, I just think it’s retained it’s value much better.

 

[IonicKarma]

Another thought, something I found funny in the original discussion of NMT to TBT rate was people thinking there was no way it would ever hit 1:1 Like, think about the amount of effort it takes to get 1 TBT vs 1 NMT legitimately. This post took me probably like, 2 minutes to write and I probably got 3 Bells out of it. Getting 3 NMT legit takes probably like at least 30 minutes if buy it with nook miles, or less if you farm for certain DIYs or materials but still definitely more than 2 minutes.

It just, doesn't make any sense but here we are cause of duping... Though I'm not convinced NMT to TBT has quite hit 1:1 yet, maybe 1:2?

Edit: It actually gave me 6 bells

 

[salem_]

Another thought, something I found funny in the original discussion of NMT to TBT rate was people thinking there was no way it would ever hit 1:1 Like, think about the amount of effort it takes to get 1 TBT vs 1 NMT legitimately. This post took me probably like, 2 minutes to write and I probably got 3 Bells out of it. Getting 3 NMT legit takes probably like at least 30 minutes if buy it with nook miles, or less if you farm for certain DIYs or materials but still definitely more than 2 minutes.

It just, doesn't make any sense but here we are cause of duping... Though I'm not convinced NMT to TBT has quite hit 1:1 yet, maybe 1:2?

i feel the same tbh, didnt know how to better express this