Bitcoin Forum

Note this is not a financial advice

NFT will be far more adopted than DeFi and yes I'm positive that it will be more successful than DeFi with the ways things are going right now, I'm no more hearing hypes about DeFi projects now and attentions have been shifted to NFT, do you think NFT are the real deal because the market cap of NFT will visibly surpass DeFi I believe, what do you have to say about this? Am I wrong or right in any way?

Yes even outside of crypto and blockchain NFT makes lot of sense, I expected millions if not billions to pump into NFT in coming months but mind you this doesn't stop scammers from taking their own piece of the pie, there are some scam NFT projects out there already and many more are coming

As soon as they hear the potential of this project to grow, they will create some fake projects for their lure to scam people. That would become the same history as the Defi was after it was successful last time. I guess in the upcoming days we will hear this new trend emerge and will gonna make their own noise if their vision will accomplish these upcoming days. Now that they have their project available and it's working well, investors will have no doubt to flock to this project and put some of their money in it.

The scams shouldn't be allowed in the first place on any serious decentralized platform.  There should be good rules/standards people should follow while building or creating things, else many will build or create whatever they want whether they are useful/safe or not.

Everyone should be able to build or create whatever good/useful they want, as long as good rules/ideals are followed

DeFi's will beat NFT's in the long run. For whatever reasons, NFT's seems to be far more expensive to buy and only are affordable to the rich. Not like we can ever purchase a tiny part of the digital good so there are very few rich folks who will afford to bid or trade those highly-priced items. The market cap is huge because all the celebrities/athletes are jumping on the bandwagon to buy/sell something as a collectable which are insanely expensive.

Also, my knowledge is fairly based on stuff I see on the famous NFT spots like OpenSea/NBA-Top/.

You are not wrong but we can't say for sure if the hype would last long but I assure you it will be longer than bull run since most projects now are diverting their platform towards nft and yes, literally adding options and features that gas nft affiliation some are fully focus or their goal is about nft. We can see the demand and this is a good sign actually of a real adoption.

NFT are more expensive to buy because they are treated more like gold or let me say valuable items, that's the real deal there, who buys into tokens that have no real world value? Even big companies and personals are looking into building their own NFT now, in games tokens is the part where I like NFT the most, tell me how that's not a very good use case ?

I am more inclined to believe that DeFi will eventually the big winner if there can be a race between the two. Now, am not saying that NFTs will not be a big thing but the way I am seeing it is that a big percentage of the trend is just based on hypes. Eventually the market will be looking for those NFTs that got real value in them and after the smoke is clear those who are just there for the sake of just making money will be left out. In NFT anybody can be producing them and am sure that there are already platforms where even a child age 4 can be issuing his own NFTs.

I don't see a big difference between the two, DeFi have been around for years but decided to become big in 2020 with so much hypes and today the hypes have decreased alot, now it's just NFT time and probably later it's going to fade away too but I'm much into NFT most especially the gaming NFT projects, it's like a dream come true

NFT is just a craze of the time and nothing else! It will die a bitter death sooner or later. In the meantime, some companies are trying to mint money by providing a platform and some digital artists are getting a little more money than they usually make. It's as simple as that!

NFT is not going to stay till the end of 2021. So if you want to make money, jump into it now while it's hot! The NFT mania will end soon! A digital art can't be worth 69 million!

I think people and businesses will adopt this technology sooner than later. It’s a great way to prevent fraud in several markets, this will benefit everyone.

You can not compare NFT and DeFi because NFT is basically a use case of decentralized finance (DeFi). Decentralized Finance encompasses a wide range of applications. NFT are one of them. So you are comparing apples and oranges.

Well said, instead of trying to figure out which one is going to be better why not keep taking advantage of whatever is topping the charts in crypto space? It's true that in few months or years we might not hear a word about DeFi or NFT anymore but now that they are making sense better grab yourself some opportunities

Bur NFT projects has any real use? NFT has its own purpose in this online world but those coins created using NFT blockchain can be used for anything? I just see it as short term hype so its not really good for investing while DEFI can sustain in the long term because of its decentralized financial purpose.

You are absolutely right, however on a global level Paris Hilton herself is in favor of NFT and even produced her own article,
also another that caught my attention which is:


Business magazine Forbes sells NFT of its Winklevoss issue cover for $333,333


Source: https://www.theblockcrypto.com/linked/101144/forbes-nft-winklevoss-auction-ends?utm_source=cryptopanic&utm_medium=rss (https://www.theblockcrypto.com/linked/101144/forbes-nft-winklevoss-auction-ends?utm_source=cryptopanic&utm_medium=rss)

The potential that NFTs have is unique, only that so much money inflows must be taken care of in which NFTs can invest. As the brothers say, they bought Nifty Gateway since 2019, marking a history in the technological framework.

It is not true. Because right now, people are in the hype of NFTs so that its price is very high. To people how has less money, it creates opportunity for young/new/emerging artists to be recognized and acknowledge. Moreover, Copyright is always an important issue, especially in the digital world where people blatantly steal others' works, products and ideas. Right now, in order for further development and recognition, there must be a NFT copy right start-up which can become the next revolution of copyright industry

If you want to find the sense in NFT then think about the best way to make money laundering in 2021.

This is the right tool to wash money because you can spend a big amount on anything and justify it with a virtual piece of art. That's the only way we can justify the big amount of money we see now rolling under the NFTs.

After thinking a lot about this topic, that's the only sense I found.

More and more I read how NFT is being used for big money laundering operations! And I got a bit into it and I can understand what is going on in the back! But I guess not all NFT is being used for illegal operations... some of the NFT supporters talking some good things about it!

I am just looking at all that from a side... I didn't get into it, I don't play any games where I can get those cards! Once or twice I wanted to invest some money, but I didn't. The whole story is interesting, but like everything else in crypto it's a bit risky... in my opinion too risky! But who knows maybe one day I will get into that too like I got involved in many things over the years in crypto!

Your worries are actually valid. NFTs are not for all crypto users at the moment. Aside from being expensive of these items, a lot will find out that they have of no use for these items. Other than possibly waiting in the future that it will gain its value on its own. This is the risky part, because you have no way of getting assurance that the NFT you bought will be valuable in the future. No one can give you a guarantee on that. So it is understandable that people who are not into games or collectibles, they will not find this another hype as attractive.

NFT will bring huge disaster to many in near future because they are too overpriced and many of them are less useful, they are created of nothing but useless hypes, the only useful NFT I know are in gaming NFT projects

The scope of defi projects is big as compare to the NFTs however there is still a lot of integration to be done to connect the traditional finance with the decentralized finance. NFT on the other hand are easy to implement and we have seen already real world NFT being sold online. Although NFT seems to make more sense now a days but don't forget the defi will be big once it will be implemented.

Some people are buying expensive tweets NFTs and others are buying unique paintings NFT at very high prices. Maybe they will not feel this as a loss because these are those people who have a lot of money and they can afford to keep these unique items with them. However, i don't think anyone is buying expensive NFT to sell it at more higher prices.

You are wrong. Just because there isn't any hype about something, doesn't mean it's still not active.
DeFi has proven to be the future of finance, and NFT's can't surpass that. Thing is, NFT's are now used in a silly manner, and have yet to unlock their full potential.
But again, that potential will be strongly linked with DeFi

I am not sure that if the NFT becomes popular, I only think about the scammers that will come back to the crypto and scam people like before. That is what I am worried about and if people get in their trap, that can make the crypto bad for the new people. I do not want to compare between NFT and DeFi because that project is different, although no matter if that is NFT or DeFi, people's chance to get scam will be the same. But the DeFi trend still exists in the crypto, and maybe NFT needs time to explore.

1) Every altcoin is shitcoin because they are almost coins created to enrich the owner's pouch and most of the altcoin creators are those that missed the early adoption of Bitcoin and what they are doing is creating their own bag of Bitcoin through your investment in their project.
2) The creation of tokens, Defi and NFT still emulate the same ideas and what they are doing is the changing of names.
The hype of both Defi, NFT will end sooner or later.

I think DEFI and NFT's are 100% will be hyped even more
bought some more peak cuz found out about coming NFT in September and OKEx listing this month
I'm soooo pumped about NFT ;D

There so many people with varying opinion. For me I will just wait what will happen in the future whether DEFI or NFT become more popular then the others. I will buy the most popular one in the future because I made it my motto to never buy unpopulat one.

Yes, NFTs are going to become a huge success in crypto market, however I don't think DeFi is going to lose its importance, as it's not solely a hype, but a way to invest and deal with money without depending on middlemen, only in blockchain smart contracts. Actually NFTs and DeFi can work very well together and I'm sure some developers are going to work this way.

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I share your thinking I think they will work well in the future. Both are going to be big spaces and a lot of money will flow in with the time. I'm really paying close attentions on some NFT projects.

I will be buying PEAK NFT's in September :P ::)

NFT seems to be a very young investing section where most likely much improvement is needed.
Because it doesn't seem professional right now.
Everyone is doing a NFT but not very professional.

Only few professional projects exist, like Axie Infinity and Decentraland where it's likely to be sustainable, But so many NFT will be forgotten soon.
But if someone can make NFT more professional, it's an interesting section of investment.

I might agree with you because if we look close to DeFi, just like its title, it's just limited to the finance field, while NFT has a wider use case. You can use it simply as digital art, digital treasure, digital unique item, etc in such fields as game, arts, industry, even finance so I believe NFT could be adopted larger than DeFi would. However, each of them will have its own demand. Not a little that still see NFT as a bubble and useless project without analyzing the project itself. But, seriously guys don't generalized all NFTs projects, just like other projects you need to dig deeper about the utility of them.

Most NFT are based on hype so be careful when looking for one to invest money on, almost everyone outside of blockchain wants to create their own NFT, why? Simply to make money 🤑🤑 think twice and go for NFT that no doubt have good use case and great team not some random mcdonald NFT wannabes

The problem with the statement OP made is that he said NFT will make more sense than DEFI and it will be more successful as well but the reality is that they are not competitors or different things. NFT is just a decentralized art type of deal, you own it and it is yours and it is on blockchain that we know it is yours and that's it, and defi is just the token version of it instead of token, instead of owning CAKE token you own CAKE shaped art, that is the only difference.

So there is really no "better" in that, it is just two different things that are quite similar and that is about it, I believe none of them will be better or worse than each other, it will be close. No idea why NFT became this popular, I still do not see any point in owning art and paying this much for it, but in fiat world people do own art as well so who am I to judge what people are doing.

I don't think you understand the full potential of NFT, forget the ART side because that doesn't make much sense to me either but the gaming side of NFT rocks, I'm telling you do research on this part and you will understand it's possibility, in-game NFT is the best

This is just getting interesting as the day passes by and the news and things having being reading about NFT. Though will be just be a short term craze and then the dip happens quite possible. On other hand thinking just if it becomes big like bitcoin market which initially was small and nobody believed much but now the result is in front. So better to grab the opportunity.

Lol I am also not surprised that you all are trying to start this conversation again. Same conversation that we were all having when the defi came out and some people were saying that Defi is the best, now the wave is done and it’s silently going away, now we have NFT’s, and as usual I expect people to come out and start hyping this one again and that’s what is about to start happening now. They are going to be hyping NFT like there is not going to be another one that will come out tomorrow and replace it.

NFT is trending and of course it is likely to grow bigger than Defi, because that one has already shifted and no one is talking about them, but that doesn’t it’s mean over and NFT will remain the number one, nah, it’s still going to be replaced by another project another time. None of these things are going to staying permanent, they come in and after sometime the wave is done.

I think there is space for both of them. There is use for both so I don't think there should be such conversations. NFTs are better for investment now cause of hype but that's only at the moment.

Yes i agree with you i have some invest of Update NFT project CHZ i think now time to invest Defi project.so anybody can invest their i want to invest again if i get chance to invest.i will suggest every one CHZ have lots of update on 30 April so any one can invest and can get profit from Defi project.

Initially, the principle by which this trend would develop was not entirely clear to me. First of all, it was not clear to whom and why this would be needed. But now everything began to take on much more meaning in view of the fact that I see how many zones that previously had no cryptocurrency available now have the opportunity to be introduced. By zones, I mean the areas of art, music, art and so on.

Can you let us know what are the upcoming updates in CHZ ?
I can see Chiliz (CHZ) coin pump to 18 percent today and is trading at $0.65 at binance. Is there any sort sort of partnership which is making the price rise ? I hope the price of Chz remain stable and does not dump below $0.5.

Don't know if the NFTs are only made to collect money. See some examples of NFTs below.

https://i.imgur.com/N2Rl4gw.png

NFTs have a lot of potential when used correctly. For example musicians, those who make paintings, manga artists, cartoon artists, Manhwa artists like this project (https://piction.network/), and many others can be very good for NFT. I still don't approve of those who are being sold for absurd amounts of money. I don't think that's what NFTs can only be capable of.