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Title: Can Anyone tell me about NFT and what is benifit of NFT if i buy it? Post by: Manish2809 on February 02, 2021, 08:43:26 PM Does anyone know when this NFT's concept has come and what are the benefits? And it will be right decision to buy it in today's market? And what is future of NFT's ? Will it be successful or not? its price is stable or manipulative? Any expert should have the opinion of the individual before buying.
Title: Re: Can Anyone tell me about NFT and what is benifit of NFT if i buy it? Post by: pawanjain on March 18, 2021, 04:28:50 PM Does anyone know when this NFT's concept has come and what are the benefits? And it will be right decision to buy it in today's market? And what is future of NFT's ? Will it be successful or not? its price is stable or manipulative? Any expert should have the opinion of the individual before buying. Why did you ask this question in marketplace ? You should move this topic to main board. Go to bottom left and then click on move and then select Local - India to move the topic. To answer your question NFT stands for Non-Fungible Token. NFTs are scarce such that we cannot exchange it. There's just one token of the particular type which makes it rarest. This is the built-in feature of NFTs. This is why it is gaining popularity in the current market. Many NFTs are being sold in millions which has created a hype for NFT in the current market. The concept of NFT is good and I believe it can be used for a variety of purposes but right now it's just the hype that is driving the market crazy. People are paying millions for NFTs which basically has no use. If you want to invest in it then you must do a lot of research before buying any NFT to see whether it is actually worth it. Title: Re: Can Anyone tell me about NFT and what is benifit of NFT if i buy it? Post by: allahabadi on March 20, 2021, 03:08:06 PM ~ People are paying millions for NFTs which basically has no use. If you want to invest in it then you must do a lot of research before buying any NFT to see whether it is actually worth it. Agree with the second statement... WRT the first, collectibles aren't supposed to have any usecase. What purpose does Mona Lisa serve ? Similarly the NFTs going for Millions are basically artwork that ppl own... Title: Re: Can Anyone tell me about NFT and what is benifit of NFT if i buy it? Post by: pawanjain on March 21, 2021, 03:06:44 PM ~ People are paying millions for NFTs which basically has no use. If you want to invest in it then you must do a lot of research before buying any NFT to see whether it is actually worth it. Agree with the second statement... WRT the first, collectibles aren't supposed to have any usecase. What purpose does Mona Lisa serve ? Similarly the NFTs going for Millions are basically artwork that ppl own... In my opinion, NFTs doesn't necessarily mean an artwork. It can be anything the can get tokenized. For example, the below NYC man sold his fart in the form of NFT for $85. Insane right ? https://nypost.com/2021/03/18/nyc-man-sells-fart-for-85-cashing-in-on-nft-craze/amp/ Although Mona Lisa won't serve a usecase, NFTs can. It can be used in various platforms. For example, in gambling it can be used for betting, as a reward, as a bonus etc... Title: Re: Can Anyone tell me about NFT and what is benifit of NFT if i buy it? Post by: allahabadi on March 21, 2021, 03:57:02 PM ~ People are paying millions for NFTs which basically has no use. If you want to invest in it then you must do a lot of research before buying any NFT to see whether it is actually worth it. Agree with the second statement... WRT the first, collectibles aren't supposed to have any usecase. What purpose does Mona Lisa serve ? Similarly the NFTs going for Millions are basically artwork that ppl own... In my opinion, NFTs doesn't necessarily mean an artwork. It can be anything the can get tokenized. For example, the below NYC man sold his fart in the form of NFT for $85. Insane right ? https://nypost.com/2021/03/18/nyc-man-sells-fart-for-85-cashing-in-on-nft-craze/amp/ Although Mona Lisa won't serve a usecase, NFTs can. It can be used in various platforms. For example, in gambling it can be used for betting, as a reward, as a bonus etc... Fart is a form of abstract art... I know someone who sold his property registered as a NFT, so I do know that they need not be art always. But since u mentioned millions, the only NFTs tht hv fetched millions are Art... That's why I used that analogy... Title: Re: Can Anyone tell me about NFT and what is benifit of NFT if i buy it? Post by: pawanjain on March 21, 2021, 04:06:48 PM ~ People are paying millions for NFTs which basically has no use. If you want to invest in it then you must do a lot of research before buying any NFT to see whether it is actually worth it. Agree with the second statement... WRT the first, collectibles aren't supposed to have any usecase. What purpose does Mona Lisa serve ? Similarly the NFTs going for Millions are basically artwork that ppl own... In my opinion, NFTs doesn't necessarily mean an artwork. It can be anything the can get tokenized. For example, the below NYC man sold his fart in the form of NFT for $85. Insane right ? https://nypost.com/2021/03/18/nyc-man-sells-fart-for-85-cashing-in-on-nft-craze/amp/ Although Mona Lisa won't serve a usecase, NFTs can. It can be used in various platforms. For example, in gambling it can be used for betting, as a reward, as a bonus etc... Fart is a form of abstract art... I know someone who sold his property registered as a NFT, so I do know that they need not be art always. But since u mentioned millions, the only NFTs tht hv fetched millions are Art... That's why I used that analogy... Oh okay got it. But to be honest, its the first time I have heard fart is an abstract art. I just thought fart was F art. ;D Title: Re: Can Anyone tell me about NFT and what is benifit of NFT if i buy it? Post by: allahabadi on March 21, 2021, 04:48:01 PM ~ I just thought fart was F art. ;D Lololololololol |