Bitcoin Forum

Ok NFTs are nice and fun and we have seen a growth during the last months/years.
but the market has no limit, and prices are out of any logic!
I am not sure if all of these items sold for thousands and thousands of USD will have the same high value after 5-10 years.

Take as example CryptoKitties, most of them have literally no value despite were sold or created for "real" money.
Most of users have tons of kitties that have no interest or value....

What are your thoughts about NFTs?

It's difficult to gauge although think about it, the majority of CryptoKitties are sold at a loss and have essentially zero market value. Even though one of them technically did sell for over $100,000 what is the chance that's reproducible?

It seems to me like collectable pokemon cards, where although you have a few extremely high value one's for either rarity or special circumstances, when averaged out, even these astronomical values don't have much of an impact to make it a worthwhile market.

As for other NFTs, it will be successful if the technology is used in a natural way where it is the most optimal way to manage the service. Otherwise, it will simply be a gimmick.


I would argue it's highly unlikely as there's very little cultural meaning or artistic value, and trying to play the NFT market at least currently is playing the lottery and heavily not worth the time.

In the moment when I read what you wrote about the fact that people have tons of CryptoKitties and that it have no value, I remembered that a few years ago it was the same with Dogecoin. It is not known what value any NFT will have in a few years. I think the NFT bubble is very likely, same as Dogecoin bubble happened few weeks ago.

anything can happen in a trade, and you can't know when the alt will increase. The NFT can be invaluable when it comes to influencing people. like Elon Musk did to give fantastic value to the DOGE coin some time ago ..

Tons of worthless NFT out there some of these companies will sell you overpriced items and you will end up trying to find a buyer for it.
Tons of gaming companies are making crappy games to make a quick buck from people that are very new or has a little knowledge in the space of the NFT market.

Don't get baited out for those NFT that are being bidded in opensea market some of those are fake bids.

who the hells buys a crappy art..

https://opensea.io/assets/0x7cda0da532827732cf326b957ef894b3d22d1f6a/10

there are tons of these been sold, im just too bored to list the other links.

NFT is not priced on fundamentals since its different than a coin, so its hard to predict the future price of it.
Some crazy people just could buy it on higher price if they interested on it.

You are correct with the above bolded statement, who really knows in the next 5 - 10 years to come what trend will be in vogue and by then if nft value will remain, increase or even drop drastically, as much as i like the new ntf trend, i don't support the idea of spending so much money on it, i think most of this nft's are just unnecessary overhyped, what they offer does not match the actual value, but some people don't seem to care, perhaps they feel those arts are priceless.

Agree with this.  NFT is a birth, it has an abstract meaning and has more of a creative meaning than a preeminent coin.  The main reasons the NFT theme is so appealing is that it's still rare and comes with a lot of exaggeration, which doesn't mean the value will reflect or value it.  In addition to the fact, there are many works that are just a photograph taken and sold for millions of dollars.... Things in museums are bigger.  The value of a work of art is macro, lies in the meaning in terms of ideology, truth.... NFT has just begun, so we still hope it will continue to develop.

The market is out of control that is what I think about it, I think the concept of NFTs makes sense and it could be useful in the future as it is difficult to claim ownership of a digital file and claim it is the original one when you can make perfect copies of it in less than a second, so I think the concept is novel and it could have an impact in the future, but things are out of control with people selling and buying all kind of NFTs that will hold no value during the next years and that give you no real ownership of the digital asset.

So many defi projects are now focussing more on NFT development as everyone likes to take advantage of the latest market craze, a meme coin can boom in the market at any point giving its holders profits up to 40x e.g hex token recently did a bubble-like movement.

As a tech it has ton of potential, but current usecases are rather silly and collectables overpriced. Then again, some of them might have value later on even if they are silly. They are not really my thing though because i hate the lack of liquidity and if in hurry, you can't really get rid of collectables with a decent price but you have to sell them with huge discount.

^  Yup..  I’ve been looking into this after seeing AXS pump at Binance just a month ago.  So I thought gaming with tokens stored in the blockchain and tradeable, cool..  I went to the site and I’m like..  each little character to play the game costs an average of 300 USD..?  The game is pricing itself out.  

Well, they need to FOMO because if they do they can make sums of profit even they just create some copy pasta projects. That HEX token was just a shitcoin after all and that's not surprising. Most of these meme coins will surely be gone in a year from now, only few will thrive but NFT has more and serious potential.

It's quite pricey and the thing that's everyone is hyped for is the can earn with SLP and good thing is that they already own it but most just into FOMO I suppose. They should know that it's still having the volatility feature as it's still cryptocurrency and it's on some centralized exchanges that's more prone to sume p&d but I guess Axie will thrive in the gaming category for an NFT, the game was fun indeed.

it have no price if i said, NFT price was so dark and could not guessed depend on how crazy buyer is. If we met crazy buyer on NFT product maybe we will gonna see millions dollar again for a single card. As unique art in blockchain, NFT have good future if more artist join in this space. their artwork will not duplicate cause their nft will have unique value that could not duplicate.

I don't understand how the NFT ecosystem  works,  do you like get tokens to represent them or these are web based and if I want to see some of your art , I need to have the crypto key to see it?

Defi for me is still the best and afaik they are bigger,better than NFTs too. NFTs could be new but not a lot of users know or use them as compared to Defi assets.

Meme coins are being relevant because of Musk,once his done with his dogecoin tweets these won't hold.

This NFT based game axie was created 3 years ago but today this nft game went craze here in my country. I, myself played this game too as scholar as what they called for a player played a team which is not yours and through this game I earn SLP which is enough already to have a daily income. I am dreaming to have my own team too but the cost for a team is quite expensive, this game is quite fun indeed lets add the benefits that you are earning while playing. But yes the volatility of the market still affects your daily or bi-weekly income but all I can say is this nft game is a game changer.

^  Interesting...  So how much SLP do you earn in a day if you convert it to USD?  I see there’s a market for it in Binance with decent liquidity. 

And are there other games out there that’s same as Axie but cheaper?  Thinking about funding a couple of little rascals I know who might like it.  Lol.  :D

I honestly believe that you need to have a reason to buy NFT and that is what Kitties were missing. They tried something like kitty fight or something later on if I am not wrong, they tried some reasons, but just the "collectible" idea is not good enough, it will eventually always die down and not worth anything at all.

At the end of the day, we are talking about something that is quite expensive, today if you want to swap a token that you never swapped before with the accept thingy and the swap itself the gas fee could cost as much as 15 dollars, of course each time after that is 1-2 dollars but still, to get in you need to spend so much money. I personally do not see myself spending that much to start on just "collectible" stuff. However, these days gaming became a lot bigger and I feel like maybe we could actually see that part of the NFT world grow quite big.

surely the euphoria of crypto-based nft games will end but for now, you can maximize it. I played in my defi pet, cryptoblade and axie infinity, I am ready for the possibility of things that will happen and believe all three are not bubbles.

But why did Pokémon work? I have no idea about Pokémon and what you can do with it, but it did work as a collectible. Or these figures from those chocolate eggs work as well as collectibles. Anyway, NFTs can also be applied to art and songs. What if you buy the NFT from an unknown singer that you think will one day go through the roof? I think it could lead to talent search, NFT markets would be the platform for people to browse through trying to find the next superstar buying a piece of his song or painting.

First don't buy NFT that will cost you thousands of dollars mate is just not worth it. But still areas of gaming lands sales sandboxes those space have great potentials to gamers imagine NFT games like call of duty..If gaming industry penetrate nft then it will be super crazy for sure but a piece of art really I don't know about that

You can actually buy even if its a thousand dollars depends on your risk tolerance since a lot of investors are playing NFT games and they made a lot of investments simply because they believe they can get something it return which I also believe because I also invested some money. Time can tell but that bubble thing wont happen in cryptomarket, is just that the hype always change and people jump into a new trend but NFT will stay.

NFT has a lot of appeal for a reason, as it is a cryptographic token on the blockchain that represents a single asset class and has a proof of ownership, which has led to massive growth in levels multiplier in this field. Later on if everything is certified as NFT then the future of that asset will depend a lot on how it works in the NFT space and the potential of NFTs depends entirely on intellectual development in the space this time.

Representing a single, non-substitutable asset will make the NFT more attractive and sought after by those who enjoy the “exclusivity” of what they have. In the future, we may see a wave of encryption in all fields, and then owning NFT is indispensable.

NFT is really a good technology, it's just it gets called a mere hype because people always see the bad thing in it, like an NFT art that sold for millions of dollars, as far as I know those are just some outlier or rare occurrence, if you can put that kind of mindset that considers NFT to be bubble aside and see the real use case and technology of it, it could actually a really innovative piece of technology as you can see it can effectively be implemented into game as of now and it's just the beginning.

NFTs will need to time enfold their potential the same way any other technology needs time to enfold. Who would have thought Netflix conquers the world? Or Spotify? Once artists and content creators become familiar with the tech and the frontend becomes more user friendly and agile, I am quite sure a lot of these people will use this avenue to monetize whatever they produce.

Right now there's a lot of hype in the NFT but investors should be careful on their holdings we already have an example on cryptocutties that just show that there's a risk factor, I remember the exchange token hype many investors though that is a risk proof investment only to find that so many token-based exchange can not sustain their development and investors end up losing money.

The hype about this trend is over, and it's time for it to come into play and be more applied in the field. Currently I see the trend of 'play to earn' is attracting many people back to the market. Personally, I think this is still a very small thing to exploit the great potential of NFT.

Talking about the hype of digital art and all of these cryptokitties, crypto panks, I think that it is not more than just luck. Artists who created these dearly sold works, of course, have their own stories, and they were lucky to get into a wave of hype. I don’t argue that sometimes digital pictures are very beautiful, but crypto panks! My younger sister draws better.

I find this hype around NFT just a good start for this sphere. People now learn about this, and then we will be able to use Non-fungible tokens for other purposes. And actually they have a lot of other ways and spheres to be used. For example, we can tokenize a variety of things from documents to business processes. Non-fungible tokens can be used as collectible tokens, impact tokens (give you different rights), access (capability) tokens, data tokens, identity tokens etc.

Play to earn scheme was brilliant ide for nft gaming , traders and investors will have alot choice to growth their money by investing in this project. This concept also will attract new buyer from gamers outside crypto market which is actually give them alot opportunity.  First from reward play to earn , staking and also if game maniac could used it as content in their social media channel such as youtube. there are alot subject that could explore in NFT project.

No doubt on that and many more adoptions are still waiting for NFT industry. P2E projects are trending just like other hypes/trends for example IDO, memecoin which was started earlier in this year one by one. TBH, NFT hype will be in this market for longer period of time and other industry will hype it up more. NFT is just into the earlier stage as of now, IMHO.  ;)

NFT is the future because it is about digital art and music in a blockchain, whether we will see a huge bubble in that, i think it is already happening as people are investing in digital art but i am not sure what are their end game and whether they think they can sell them later at a bigger price because i am yet to understand that aspect of this NFT craze.

This can be seen as the next area where blockchain will really make a difference with it. Although there are also a lot of products that are showing they bring value to users, besides that, scammers still try to exploit it, DYOR before making a decision.

I agree with you. Besides my interest in investing in proof of work alternative coins like CHIA, I also am optimistic about the future of NFT play to earn blockchain games. Axie AXS and Cryptoblades SKILL tokens are pulling back right now but My Defi Pet’s DPET token is only starting to pump. But if looking at their marketcap, all are under $100 million. These games marketcaps will be in the bubble if they are in the billions.

Clearly, the NFT trend is an exaggeration. But now we have to look back. NFT has demonstrated its applicability to the gaming market and has achieved a very strong effect in the market. Maybe growth, the price of recent projects like axie infinity ​is being exaggerated. But I believe it will be a big trend of the market in the second half of the year.

I think NFTs are great yeah, but let's admit it, they're having a lot of appeal not for the ownership and rights transfer reason, but for their collectible speculative reason. Person A buys 1 NFT thinking it's rare and that someone else will also want it and he can flip it for a higher price.

But what people don't see or understand now is that these things aren't rare. They're manufactured. False rarity.

^  With ‘false rarity’ in mind that makes you question the whole space too, including BTC.  Isn’t the limit on supply nothing more than a line of code that says there’s a 21 million limit?  I know it’s not easy to change without going thru consensus but really now, it can be changed.  

i think NFT developtment still have long journey , this is still the beginning of NFT trend which is alot feature now dvelopted in NFT projects. Recently i see NFT gaming play to earn be new hype in market  AXIE pumped alot due of this. Investor need to follow the market direction where it will moved, we've see DEFI and DEX project and now should be NFT gaming turn to booming..

NFTs are somehow leading the game right now, there's no doubt about it yet we need to avoid being overconfident on its current place in the market. Anything can happen and we do not really know how long will this good run for NFTS last. Indeed, NFT games such as Axie Infinity offers plenty of profit in the market and many are already taking advantage of it. It can either be another breakthrough for crypto or it can also lead many people into another failure. So far, its performance and good and there's nothing to worry about yet but still, always watch the price movements and read news about it.

When it comes to collectibles, have you ever seen prices that you would say follow a certain logic? I must say I didn't. There are things out there that get collected which I wouldn't even deem a collectible in the first place, and if you then hear that people are paying thousands or maybe even hundreds of thousands of dollars a piece, where is the logic? NFTs will partly be very similar. Especially the collectible section won't follow any logic the same way art often doesn't follow any logic. The logic is set by supply and demand. If someone is willing to pay 400 million for a piece of art, then that is the logic.

The crypto space is one hell of a place where what we think, assume and anticipate hardly works in our way but in different ways, in the same way, some of the coins and tokens which might have no value today might be worth something in the near future, at least we have seen a good examples of such.
Now about NFTs, I think what is more needed now is a clear explanation of how all these works and how they will retain their values in the coming years, yes this is because no one makes an investment which won't fetch him gains or at least stand the test of time; most NFTs can be stolen and so on, hence the need for more improvements on the NFT ecosystem.
However, NFT trend has already started and many NFT tokens are on the increase and sooner than later more will set in either through IEO and so on, as normally seen with other trends, thus ushering the NFT ecosystem in full effect, therefore until then and the features seen, then we will know how far it will last, the impact it will make and the value they will probably have at the long run.

Blockchain games will also be huge. There are so many people who have played games like World of Warcraft, bought items and sold them back and forth with other players, whole characters were sold on the internet for good money. I expect that to happen for NFT-based games as well.

In game transaction already happening in nft games. Most of games that are blockchain based have marketplace for their own game or even implemented in game so what youre talking isnt a new thing in nft game nor its gonna coming up as a feature because it already is a feature of nft games.
Even most of people already expecting nft to be a solution for in game transaction and probably even the whole point why many games use nft in their system.

We've seen multi-million dollar deals with NFT, 
and it's also having a whirlwind of gaming trends. 
Perhaps this will again be a preparation for a new growth of the market.

yes, the market has seen some really crazy deals with NFT, and now we need to know more about the value it brings to the sector. Personally, I feel that this is a very attractive piece of cake for developers to build products.

No, this doesn't make me question BTC because I never really bought the scarcity argument. Plus, Bitcoin scarcity is more real in the sense that it becomes harder and harder for one to accumulate over the years. I know everyone says yes, you can buy 1 satoshi but actually that's not even true anymore because min fee for the smallest transaction is already over 100 satoshi as you can't even do 0 fee txs now.

So over time we keep seeing minimum amounts going up, at some point the scarcity becomes true.

NFTs are different. You create something NO ONE can use. and pretend there are only 10x copies of ABC token but in reality you can create 100x any time.

NFT is a real power. And Deedy Digital proves this fact.

The only downside of these "playtoearn" type of new projects is that they are secretly pay to win again, sure they have to make money somewhere but they are not really a crypto currency but more like a crypto gaming company. The moment they are honest about that and tell you that they are a business making money from the game and you are making money from other gamers, that is going to get either super know and loved, or they are going to be going down but they have to be honest about it otherwise this will not work.

What I really hope for is that we could finally have some sort of decentralized playtoearn where the team just makes the game and then leaves, sure keep on marketing if you want, and sure invest into it yourself, or hell even have some token preprinted for yourself if you really want to risk it, but do not keep making profit by selling NFT constantly, that is just centralization.

Lol, you didn't find out about them.  NFT game genres in Vulcan are very diverse, the most favorite is still Build, Play, Stake, 20m$ for P2E is a very attractive reward for creative gamers, it is an extremely hot genre today.  and the future.  They released the Beta and when they run the Final after, P2E... I'm sure the price will go up very quickly, not just $10.
They have a strong, real user base.  As an army, I'm not a fan of games but their 3D quadrant graphics are amazing!

Like you say about this delicious piece of cake, the market is showing a very clear new trend. And now maybe we can be more optimistic about the future, I think after the strong growth from NFT products then we will have another hype for a new trend followed and helped this market continue to increase in price. However, it is still necessary to be prepared for the worst cases that can happen.

I see current NFT developers that know how to create their value. With the application to the digitization of real items, it is not easy for me outside of transactions with a huge amount of money. But the current NFT game is creating a great attraction, looking at AXS recently to see that fever, in my opinion this trend will be the main focus in the near future.

this gap should be an opportunity to NFT project developers to build the product that really needed by community, as dev team we must have instinct to predict what actully neede at this moment. NFT game project still in early trend , so far only from crypto community play this game , if we could attract new game that come outside crypto market , the demand will higher and we have fresh investors. In near future when gamers now in crypto market provide another opportunit from playing game , this project will explode soon and we will see another crazy pump like happened in AXIE.

I really, really have to check out what you guys are talking about. I know NFT hype is crap but gaming hype lives forever, doesn't it?

Now the real question here is, if you DO NOT have a good gaming PC, in fact, you have a very low end PC built mainly for work and ok has an integrated graphics card, could you still play this socalled game as well as others and earn?

NFT games will be trending for the next few months IMO...

according to my research my defi pet and alice will be bullish when their feature release is complete. I have noticed that many have bought tokens for the two nft games, besides that Axie is also likely to be bullish again by the end of this year.

I remember back in 2018 there were talks about DEX, it wasn't done properly but it was still around, what I ended up not seeing however is big communities behind it because it was properly DEX, it was just dex in paper but it could have been closed very easily. What happened in 2020 and 2021 is that we have seen the DeFi world properly handle the dex world, now we have that in big numbers because it is very common and now it can be done properly.

I am guessing and sensing the same thing for NFT as well, I think it has already started, there is a small amount of community but on the next big bull run it will be huge and everything from now until the next big thing will basically be a development stage for the big deal. So that is why I am not investing but checking closely on the NFT gaming world as well, they could grow to be a lot bigger in the future.

NFT really has amazing run in this pas few months and I did have no idea about just how much of the NFT economy was really powering and driving at this time is absolutely phenomenal to see that level of growth. For the next bubble of NFT, i will pick VulcanForged(PYR) for the hidden gems, this project managed by Irfan few months ago and when the project can keep they promise i think this the first step of the amazing future for the project and PYR game is very hype to and already listed on Kucoin and in this past few weeks the volume of trading is increasing very high.

yeah i wanna know more how much are you being paid for this promotion and advertising ? how much you getting in entering or hijacking thread ?  why not create your own to promote your Greedy or Deedy digital?
there are even more NFT games that growing now , though many are obvious scam that riding the axies popularity.
choose which one you are joining and how credible those are.

After seeing whole new coin colled Foxy doing something like 10x I am convinced we are in some sort of nft bubble. Its rather hidden now as general markets are in fight between bulls and bears. But NFT projects are waiting for great leap if bulls win.

Vulcan forged could be the next AXIE and even could be more , so far i know vulcan forged developt more than 10 NFT games with play to earn concept. There is no project as aggresive with Vulcan forged, with alot team developer and make collaboration with other project  soon or later will explode and maybe some people will be late to involved in this project.

NFT game will really explode now when alot gamers outside crypto market realized and know there are legit games to earn money. AXIE trend still be early trend for NFT game , next quarter or year we will see more hype and interest to this kind projects.

There are many play to earns like that popping up everywhere, I don't know where they are coming from, but the main idea is always to make the founders some money and that doesn't really appease me at all. I have seen so many new play to earn games where the owners basically sell their "NFT pack" type of things, you get something from it, then you either fight, or race, or level up or whatever you are doing and that usually ends up with a horrible profit levels for the owners at first, then a small profit for you.

This is why I honestly do not think that it is a good idea to invest into these things, they are just a way to make money for some people, and that is definitely not something I could get behind. Think about it, what if satoshi stayed and wanted to make profit from bitcoin? Would that make bitcoin better or worse? It would totally make it so much worse.