Bitcoin Forum

I read over the news about John Cena NFT only selling 30 tokens in its public sale an event that prompted the star wrestler to withdraw his support for the project and putting it on gold, and from my personal experience, Ill the NFTs tokens I bought have not yielded any profits all stock in the sale stage for over 4 months now, unlike the ICO era in 2017 where investors making 800x profits just within one month of investment. What seems to have gone wrong in the NFT market within this short period of its existence?

Now nft just a hyped, when hyped over this will be disaster  i think 2017 and now big difference between experience when people Don't know about crypto or valuable project now everyone know how project works

First of all, even in 2017 it was not the case that every ICO gave 800x profit. If that was the case at all, it was the absolute exception, because even then there were many ICOs where losses were made. What has definitely changed compared to 2017 is the sheer number of projects that appear every week and hold a sale. It's no wonder that only one in ten of them is really profitable. Also, there are no real ICO's like in 2017 anymore, where tokens worth 50 M$ or more were offered for sale. Nowadays, everything is done via launch pads and you have to hold the respective token in order to participate in the sale. When the tokens are traded on the stock exchange, there are already hundreds or thousands of people who have already bought the token at a lower price.

For me at least the problem with NFT-s was that there were so many of them and it was impossible to tell which ones will become a thing and which ones will not. With ECO era there was at least some way to tell if the investment would pay off (ie to analyze and see if the project was sound and useful). With NFT-s it's much more like art where random and (subjectively) stupid things can become very valuable while (subjectively) pretty or useful things can become worthless.

It's hard to tell if you just compared it with that particular ICO you represented, and the NFT you mentioned. And to compare those two things I can't hardly find any similarity since both cases have a different "value".

ICO first became a thing because it is a good way to get funding for the team, but it comes to an end when everybody uses it as a get rich quick scheme, and not giving any use cases nor usability within the project, mainly only for self profit. I have a question for you, with such profit you gave as an example, how many projects are still existing until now? and how many are failed? I'm sure the failure outweigh the successful one.

It comes different with NFT, people came to this space not only for monetary value, but it is a new way to collect things and to be able to showcase it to others digitally, it became an intriguing thing. NFT are not exists only to be seen and used as monetary tools that are able to generate profit, and I do believe NFT are here to stay.

Most NFT's doesn't even make sense, that I cannot even understand why such NFT valued very expensive.
Compared to ICO's where there are actually some of the promising projects with tokens with real use case, people would inevitably put their money where it has the high probability of making fast roi and high profit.

Also, these sudden surge of NFT's makes it difficult to identify which project is promising and has a long term potential. Most of the NFT games today are sketchy af so would you even trust these projects?

If true as that it is exception for the precision, because the same when that was very many ICO is loss. The sure thing that has changed from 2017 is the number of projects that appear and open for sale weekly. It's in a different direction from NFT, people come to this space just for the money of value, it's a new way to get all decimal and to have to present it to others digitally, it has become a hottie. NFT does not exist just to be viewed and used as a profitable monetary tool but to contribute to new developments in the cryptocurrency industry.

NFT was different from ICO. The price of ico tokens getting affected by so many things. When there's a whale buy a big amount of tokens and this will be pushing the price to go up as soon as possible but the that's quite different with NFT. When there's an NFT and this can be owned by a single person. that means the chance for the price to increase will be much more lower caused by this totally depends on how much demand of people who interested to buy it and place their bid to buy such NFT. This time ICO is still crazy and there's a new ico called atlas that gives 150x ROI in less than a night.
I think that you must remember if anyone will be able to release their NFT and this is totally different with ICO.
that's why ICO can give more ROI compared with the NFT. NFT was a personal interest.

I don't even see the benefit from NFT hype as so many of those artworks that are bought as NFT have no increase in value but I know there are some nft that is worth a fortune but in a rear case. NFT is nothing to be compared to ICO or IEO.

To me probably because NFT is a new development on the blockchain so its benefit is not felt yet just like the IEO era it hype will increase popularity but with little benefit to its investors, I bought an artwork in a pre-sale, and up till its now worthless.

Can you please name few NFT projects that you invested money on? Because I'm surprised that you saying your NFTs haven't Yield any profits while mine isn't the same, I've made more from NFT projects this year than DeFI and other projects, I invested in CIFI and also PYR

Stay away from art NFT and focus more on gaming NFT, they tend to grow bigger and better than art NFT projects

Think again, NFT has various fields and if you meant about NFT art or something related to this kind of NFT and it will never give you huge ROI but that's quite different when you have owned a rare NFT like etherrock or cryptopunk.


How old the development will not give impact to the how big the hype will be received. I guess you're misinterprete it. Basically, the hype depends on the numerous factors and it can't be called if NFT as a new trend should be the reason why it was not getting big hype like ICOs


It's not. Did you remember DEFI hype? it's over a few months ago and it didn't create a  disaster. I think that you were not watching how the defi hype was going on.

Rarity and the chance to earn while still owning the NFT. These are the reasons why NFTs are making rounds, in ICOs, if you've sold your tokens then you're done and all you have to do is to rebuy so you take that token again.
While in NFT, if you bought a rare or with less supply art or any type of NFT then the value of it can potential go up. And the other NFT are for play to earn which is really making everyone invest on it.

Why I didnt hear such news about it John Cena maikg his own nft? Missed this one. I would like to say thay I witness some ICO beforr on 2017 and not all are doing 800x anf some also have some scam. Maybe its not good to compare the nft fever to ICO since its a very long time and we have a new era of defi that solidify nft. Anyway its good to see some improvement over nft.

The reason why NFTs are gaining popularity is that in ICOs, once you've sold your tokens, you're done and all you have to do now is repurchase that token.
If you bought a rare or limited-supply art or any form of NFT while in NFT, the value of it could potentially increase. The other NFTs are for play to gain, which encourages everyone to participate.

In this case, a lot depends on the general state of the cryptocurrency market. Now we are seeing a downward movement of bitcoin, and accordingly, new coins do not give such a high profit that we saw in 2017 and early 2021. But nevertheless, we still see the launch of successful projects that bring investors a profit of hundreds of percent.

Because you can't see him::)

---

Well, it may still not be that understood by many. Like many people that I'm telling about NFT's, what's the difference? Like the difference between just saving the file as JPG by copying the minted one and having the specific art for NFT. It's hard to explain how valuable it is for everyone to have that kind of technology verifying the ownership and staff. It's just that not people value it as much.

I think the difference that they will have between ICOs and NFTs is how they become hyped. I think NFTs haven't reached the ICO level of hype or something to that sense.

Of course it's different, NFT is a Non Fungible Token (Only for collection)
Unlike the tokens/coins sold on ICOs they have their own uses, the price will go up if the platform is also widely used.

probably its not about how popular the people behind the project wherein it's all about how good it is in order to get more attention in the space.  Indeed i never see NFT's projects that left behind especially those listed in some popular market.. So don't be surprised if someone did not succeed from some NFTs events because it depends on the situation in my personal opinion..

Because most of the NFT projects especially NFT games that are newly released are just some kind of pump and dump coin where everything seems smooth and good to earn money and suddenly everything has changed to something you never imagine when you first invest in it. their volatility is at another level where you may lose every capital you put in a single decision of the DEVS. for more than 10 NFT games that I have invested all of them have the same outcome and thankfully I only invested with the amount, I can afford to lose. The scary part is, only 50% of my capital has returned from such a confusing investment.

Nothing gone wrong, you can't expect any trend will have the same result. DEFI trend has less ROI compared with the ICOs but ICOs were different story. ICOs was a way for the project developers to get funding from the investors. How big the return that will be generated by the tokens that already bought by the investors totally depend on the plenty of reasons. Sometime there was an NFT project that can give you very big ROI but in another case there was also the same project that was have bad performance on its token price after ico. This was getting affected by various factor. NFT waves was still going on.
So many NFT tokens were also increasing a lot to the its new ATH even AXS was doing very good job at this moment too. You must also see that dude. Some NFTs have same ROI like icos tokens as well.

x800 profit cannot be explained as natural growth for any business. We could assume that investors have became more cautious and selective as they learned from the bubbles that led them or others to loss. NFT's are a much more important expect of blockchain than ICOs and it's here to stay. It was already a bad advertisement when people were buying the earlier NFTs like crazy in millions. There are and would be NFTs that would be worth millions but not every of time. I'm happy that the NFT bubble busted sooner. Now most of the growth in NFT marketplace would be a healthy one.

As I understand, John Cena organised public sale of Non-fungible tokens that are really cloudy investment, as it is really difficult to judge if this peace of art will be sold then or not. What comes to NFT-projects, I can't agree that they are not as popular as ICOs. Especially NFT-games and other NFT-projects raise big funds now and people make money on them if they manage to find a promising one.

I don't have any information on what went wrong with John Cena's NFT but you can't assume that NFT's are all hype because it is trending right now, a lot of people actually gained profit from playing NFT games, and I'm assuming majority of us here are aware on how impactful gaming is right and its industry? Here in my.country, NFT games are almost everywhere, Discord is the platform used by a lot of NFT projects, while some of them may fail, but several NFT projects actually were successful, Axie Infinity is a good example for this one.

I am quite sure that NFT projects in the future will continue to evolve, it may even be a possibility that gaming and cryptocurrency may be a good partner for a successful project.

I think in this case its cos NFTs have come to the end of their hype rule. It happens. NFTs areike art to me. Not everyone is overly interested in art(even though its quite innovative being on the blockchain) and in the end the remaining art buffs are going to be bored

Because of the proliferation of NFT which is currently spreading, even from critical circles, influencers and all well-known figures have created their own NFT. It's been countless and made us confused to choose until we finally decided to keep quiet and not take part in anything about NFT. Of course, this is accompanied by concerns about the hype which will eventually go out by itself.
One thing I'm sure of, in the end what survives is Bitcoin. ;DBTCBTCBTC

NFT projects basically sell their NFT's, that is why. I have seen plenty of projects with 10k limited amount, and give out 9.900 of that to people basically to mint, everyone gets to mint it, but then they keep 100 just to themselves and when the times comes that it worths something, those teams start to sell it.

You do not even have to sell it, just owning millions of dollars worth of things would be a good enough situation to be in, if you can afford to not sell them just keep them. They keep getting money from all sorts of ways, and I would assume that if there were no money to be made from it, we wouldn't see this many collections becoming big neither, there are collections left and right everywhere only because there is a money to be made from these collections.

I think the main difference is the nature of the hype surrounding the two, when it comes to NFTs the hype is speculative almost exclusively, NFTs besides being collectibles have nothing else going on for them.

Now some may argue that what we saw with icos back in 2017 was mostly about speculation too, and they would not be wrong but the difference is that the projects behind the icos had several other potential applications to get people excited about their future prospects, now it is true the majority of those projects failed and the promises they made never came to happen except for a few selected projects, but this gave them another angle that NFTs never had, also I will say that people are not as naive as they were back then and this is limiting the upside you can see with NFTs as well.

NFTs are definitely generating these types of returns, you're probably just looking at the wrong places.

I've got personal friends that have taken something ridiculous like $500 to $50k or $100k in a very short period of time.

Is that indication that I'll be investing? Heck no. I think that the bulk of the NFT bull market is behind us and profits will be much harder to come by now - and most projects have absolutely zero value.

People who are really passionate about the arts will never get tired of NFT even though the hype is over and it won't appear any time soon because it is being rivaled by many other hype at the moment where in the crypto space there will always be something that surprises a lot of people.

That is the difference between the different stages, I am looking at the problem here is to approach the trends and look for profits.
When the ICO period boomed, we all saw the ambiguity about it only interested in profits rather than understanding the essence. With NFT, it is a more applicable and precise product, when people have knowledge of the market, such solutions will be evaluated more carefully. However, I still just find them to be superfluous, and it's a space reserved for people who like new trends and exploit it.

The experienced from the last ICO boom brings more wise investors to assess deeper before jumping into investment,
You said it right, way back investors are there to take advantage of opportunities that they will going to get when
investing first, then here comes scammers who also take place.
With NFT, more research has been done before finally ebing convince that this kind of system will be used as good
way of investment, the value of NFT is being created by people who knows and willing to participate.

Well as a trader yes looking out for profits most especially on a short term basis is 😎 cool, but as an investor one will have to look out for long term potentials, which I have not seen any significant growth in that direction with NFT but so many ICO projects are successful at the moment.

NFT's are not legally regulated to the point where you can buy a painting NFT and expect the original painting or any copyright laws from the painting to be legally considered as yours. The regulations just aren't there yet. I am still waiting for the first legal case of NFT ownership in court. Anyway, NFTs can be fun, but they are mostly used by the rich to launder money, really.

Many do not understand NFT and they rush to make their NFT to sell and make personal profit. I saw a lot of NFTs that were launched that had no functionality at all but could sell for a fantastic price, but the NFTs didn't sell for a few months later.

I'm more interested in the NFT issued by AXIE, it has more real functions

Interesting...
Well, you know part of what attracted alot of people to ICO was the "attractive" and "useful" projects that were promoted. Many people invested because they believed that useful things are being built or would be built.   Today, things that make little to no sense are promoted as NFTs and there are those that sold for alot of money. Guess people are realizing they need to focus on the use cases more and not just the money.  

In my opinion, the first NFT utility token that aims to avoid the ICO boom. That is, NFTs exist to raise funds, but they are not the project itself; rather, they are tokens issued by the project, each of which corresponds to a right or share in the project it represents.

Depending on the NFT, this NFT lasts you buy and sell online at several shops that provide this, such as the possibility that your NFT Token may not necessarily be bought, it may not necessarily go down, and the price may continue to rise. So, in my view, NFT can make a long-term investment but you have to really choose the NFT, and if it's a limited edition the price can be very expensive.

How many ICO projects from 2017 are still alive today? To me they aren't many simply because they die over time due to lack of real world use case, do not compare NFT with ICO projects, just because there is less demand compare to ICO doesn't mean ICOs are better, I hardly invest in scam NFT projects

There is nothing wrong. You are just on the wrong side of NFT projects. Have you considered that?
I have made a good sum of money buying NFT game tokens and I can say it had been a good ride. As of now, I am trying to circulate that profit to another NFT or a DeFi maybe and who knows if I get lucky again.
It was just the same as the ICO, you do your research and you will be paid well enough with some added luck.

There are several reasons to the why people are not adopting NFTs the same way ICOs were adopted in 2017 and beyond.
I will give one reason which i think is one of the whys, it is commonly said that people fear what they don't understand and hate what they can't defeat, don't be surprised, alot of people are yet to really come to terms of what NFTs is all about, and most of those who know, are busy chasing money because we know that NFTs were never created for monetary gains, NFTs are like that piece of art you buy out of its beauty and hang in the wall of your home never to be sold, the only difference is that, NFTs are digital arts, and the advantages of this digital form supersedes it's analog form in many ways, one of them is that, digital arts can now be used as a character in mobile and pc games, no longer will they have to hand there on the wall doing nothing, just as it is with analog art.

Now that people had realized the importance of being usable in the market rather than the name, NFT's become not their interest. As I can see on the market now, the more projects created the more they become useless, just like how these NFTs projects will end. Maybe these NFT games can manage to survive but I don't think the others will help themselves to recover, well, they don't as to see. 

When we compare 2020/2021 with the conditions in 2017, there is a huge difference and it all depends on market conditions, not on the NFT program itself. If you browse, there are so many successful projects from NFT and the NFT program is a new trend nowadays, even public figures, artists have joined the NFT project to invest.

People consider them as art that has a very limited amount and that is why they are valuable. In the art world there are things that are very valuable that you can't really express it with data. Why Mona lisa worths so much money is not something you can explain with data, it is only explained because people care for it and want it and given the chance they would pay a lot for it, that is the only reason. Not like it is some iphone that a business sells for a price to make a profit.

This is why I believe that we should definitely consider the NFT world by the same light as well. It could be 10x higher price than what you paid for it, or it could be 10% of what you paid for it, it could be Mona lisa, or it could be kid drawing, we have no idea how much they "should" worth, only what people are willing to pay for it and that makes them valuable like that.

NFT based on entertainment and products like WWE, Godzilla, Coca-Cola, band group, etc. is more of collection stuff rather than an investment.

You should choose NFT based projects where there's a real use case and can be used for a profit-generating scheme. The best example is NFT games wherein it's necessary to buy their respective NFT as it can be used in-game.

Just enhanced your DYOR on choosing the right NFT project to invest.

The point here is that in no case did an ICO bring in 800x returns. If true as that it is exceptions to be Absolute, because even then a lot of ICOs lost money. Definitely changed compared to 2017 is the number of projects appearing and opening sales week. It's not natural that only 1/10 of them actually have an operating system. But it's hard to tell if you just compare it with the ICO engine you represented and the NFT you updated the master. subject. And to compare those two, I can hardly find any similarities since both cases have different "values". The various features and benefits of NFT value are considered works as rare and there are large donations of NFTs.

Depending on how John Cena NFTs are advertised and the utility behind them Seriously even though Most NFTs are just super hyped dont expect Sony or marvel NFT to make high value unless they have utility or hey special edition of a comic book or gold version of imprint What I mean is they need to have something to back them not just their pure hype People are curious about those things and it will take some time to assimilate into people minds and them it all over For now is only in cryptoland

Aside from the experience, I also think people are looking at it from a different perspective, as I see at this stage the NFT does a better job of attracting people to the market. We see huge amounts of money being poured into NFT products, and it is only new projects that develop in this direction that receive great attention. But that doesn't mean it's an exaggeration when there are so many products that have also been very successful.

NFTs are overly-hyped with little to no value in them that almost everyone can create one and market it as something 'unique' or 'expensive' even though it's just a random ass memorabilia stamped in the blockchain.

ICOs gained so much exposure and success back when they're the thing because coins back then offered more promising returns to a wider demographic, even if the coin fails to deliver anything of value to the market. On the other hand, most NFTs only target the uber-rich, and the chances of making a sale is close to nil. It only boomed on its infancy, and the hype later died after people realized what NFTs really are in essence.

Both aimed to make quick bucks, but ICOs helped other people too and not just creators to make money when they're the thing.

ICOs and NFTs both show hype about their nature.

The ICO has also brought its own successes, but what we've seen before is a lot of the damn stuff that comes with it.

And the NFT trend is no different in terms of hype, but the difference as experience is enhanced we can judge for ourselves how much potential or risk it creates.

And not everyone is stupid enough to lose money on silly trends.

Can i ask, how you can earn money from NFT?
Because a lot of what I see, a lot of projects that make NFT with bullshit. They make NFT to do Staking, even though it can be done with Tokens. In my opinion NFT is not worth the investment, only Hit N Run is Okay. But this is my opinion. CMIIW

NFT in general is here to stay but with the way things are happening right now when anyone popular or not can actually be selling his/her own NFTs...there will come a time when the whole market will be shaken and only those that are really valuable will stay. I don't still fully understand how an obscure image of a rock can be commanding high price and yet a beautifully made painting will be performing mediocrely - of course the answer can be because of hype and hype will not last that long. Soon people will be asking the use=cases of an NFT or what will they be getting out of it aside from waiting for it to appreciate.

I have always thought that ICOs are the most traditional way of raising capital for long-term projects. As for NFTs, although it generates high profits, it is not sustainable

How high profit that will be generated on NFT depend on the numerous factors. You cna't generalize if that would be sustainable or not because there are lots of things affecting this just like

1. How good the development progress
2. Liquidity and demand in the market
3. Partnership and cooperation
4. Community
5. Market trend and hype

That means if NFT will have good ROI once it can get all of things that can push the hype and the price. NFT project was also doing ICO to raise the funds.
How big ROI depends on how big the community was hyping it. No hype = no gain. People should not expect good ROI from the project that doesn't big hype.

You would have understood this answer a long time back if you had witnessed the downfall of altcoins after they started or ICOs after they started. All these are hype-machined buzz that do not have any long term value or use till date and they all try to compete with what bitcoin has been able to achieve. While I appreciate new development and methods to incorporate decentralized financing, in reality it is all part of a hype based dream, which we all know deep down.

The point is that there are people who make money using the hype to generate and raise the price of useless shitcoins. While newbies fall into the trap hoping to get-rich-quick and therefore these type of quasi-illegal things come up.

So in a way, this was bound to happen. If you are still have some NFTs and you are having no market to sell them, good luck to you. You will probably never be able to for a long time.

I didn't see this news until now actually. Didn't even know Cena had his own NFTs but it's the same thing all along and should have been expected. If all the stars come and sell stuff that actually isn't even rare, why should anyone buy them other than for speculation?

NFT concept actually to be sustainable relies on real interest, from collectors. Not token speculators (which is what NFT buyers truly are in the end, like it or not).

It's probably more suitable to mention that your explanation referred to the digital arts, no?. NFTs that only have an intrinsic value and so difficult to set the price (because it depends on people's personal appraisal). Unlike some NFTs in-game that are valuable because they have utility and are being used in their circumstances, digital arts are the same as art pieces in real life. It's valuable as decoration without further utility, it has value because people think it's valuable. Not all people are interested in the arts, but most people are interested in money (that's why ICO was more popular).

Believe me, maybe you have the wrong nft, crypto in 2017 where each ico provides a large profit does not last long considering the many cases of fraud against ico made, while nft offers something more useful in the crypto market with its uniqueness.

Well when something tend to  be on realistic side it takes time to get attracted to, how many ICO projects are still alive today since 2017? Many are dead and some have no trading volume again but NFT just works better because the realistic is without useful utilities a project won't live long, NFT works better than ICO

At the same time in 2017 many people said that the ICO would continue to advance and live, but now everything has turned upside down, so almost the same thing can happen to NFT in the future when there is a new trend that can break NFT, although it doesn't exist at the moment

Excellent simile there. Truely the hype around NFT is not logical. Not so many people are actually collecting them, they are in it for the money. Collectible things are usually physical and not some digital thing. I at least prefer to be able to touch my collected artwork or trading card before boasting about it.

It will gradually die out just like any other hype-machined vaporware - some members of this forum may not like my sentiment but the truth should be accepted and they all know that.

The craze surrounding these things is the reason why it sells, no intrinsic value, no utility and no use. How do you expect to generate a demand for such objects? Pure speculation, nothing more.

While personal experiences are important just because you have made money with NFTs that does not means that what we are seeing means that the NFT market is larger than what it was the ico market back then.

Even if I did not liked the market of icos back then either the fact that those coins offered many potential applications that could change the world is what created the huge demand for them, in the case of NFTs they are not going to change anything and are just another form of collectible, like baseball cards or comic books, and while interesting this means the market is never going to reach the popularity icos had back then.

As we grow we also introduce a new way to invest and a new project to support with so I also believe that in due time, NFTs will be forgotten and you can barely see a new project but that can happen in the future and right now they are still growing with no sign of dumping, so just take this opportunity to buy and make money because the future is not so sure just like the ICOs.

And besides, they don't have similar market applications and use-case believing that they don't have the same results.  Honestly, ICO had made them more profitable, many of them have gone so fast and become shit projects but at least people are also having a good experience.
But these NFT's coins, it is somewhat people get worried about them, they don't look so attractive and promising makes investors not to choose and doubtful for investing. Anyways, ICO had done already but has come possible that the NFT projects will follow shortly.

Certain projects have definitely returned ICO like profits whilst others haven't.

You're probably just looking in the wrong place to be honest, as avatar & utility tokens seem to be quite the rage these days.

If you look on Opensea you'll find plenty of projects that started with 0.02 ETH mint and are now >2 ETH.

The NFT market is really small. Only a few whales make up the majority of the volume. The thing that gives some NFTs really high values is their scarcity. Even without significant demand you just need one person to want it enough to pay thousands or even millions of dollars. Now that there is so many new NFT projects being launched all the time the market has become saturated and that is why some NFT collections are not selling very well.

There are like hundreds of ICO every month during it's prime in 2017-2018 that's why it makes a lot of wave and money for investors. Not sure about the data on NFT but it seems they are less so obviously, there is the difference.

But as far as the hype goes, NFT is still hot, but investors now are wise, maybe they got the profits and then move around the funds to NFT or to other projects. That's why the money circulating around NFT can't be compare to NFT's of today.

Hype would go down but doesnt mean that it would be lost or would be totally be patched up by something new.Come to look at that there are still projects that do ran off some ICO which means its still relevant
and do exist despite of the current changes and new trends as of this moment.Everything would really be mixed up because it all matters with the demand which it isnt surprising that there might
be some projects been succeeding and there are who do fail off no matter where they do belong whether on nft's or in icos or something new upcoming.

Maybe we can consider the NFT games as one of driving the hype to the NFT craze. There are lots of NFT games where investors already made some profits. Like in ICO, there's a hype period and with the right decision and timing, they able to gain profits while getting a good chance too to exit.

If NFT is hit and run to you, it means you are lacking research. But it's fine as you don't need to be hyped for something you didn't know and interest in.

I think, Because of its attractiveness and abstraction. The value of the NFT is always on alert and therefore quick liquidity will be an important vertical factor. NFT is a ready-made work so ICO is not suitable for that, instead even new projects related to NFT launch on IDO.

It is the same as always, when this idea was first conceived it was original and groundbreaking so people were interested and paid a lot of money, then scammers realized they could try to get money that way and now we have a lot of NFTs which quite honestly are never going to have any value in the future.

And when we take into account the shill bidding, which consist in the owner or friend of the owner of the NFT bidding high prices for the NFTs in order to inflate their price and then sell them at a later date for high prices then people are doubting that even the sales that we are seeing right now are real, and without that confidence then the market is going nowhere.

When the ICO craze first started, there were a few good projects but the one that came after that and milked on the hype were worthless because they were only meant to be moneygrabs when they started.

Same happened with NFTs. They should have been kept to the state of artworks and all and not old twitter posts and things that are having no significance and only because of someone's influence gain a value because they will not last long.

Does this not carry all the red flag signs of being a worthless project in future? Long term value of the ICOs became nil as people flocked in and similarly the NFT market will also show signs of depreciation and then the newbies who jumped on the hype-train will learn their lesson.

In case you started after the ICO craze happened you might be getting this idea. I would beg to differ having seen both the ICO and DeFI hypes followed by the NFT hype.

All that attractiveness and BS is only temporary. It is not like gold that has long term value. When ICO first came in, people were crazy to buy loads of it and today those coins are -1000% or even less.

Finished projects like NFT are certainly very different from raw projects that still require fundraising through an ICO or IDO, so the NFT concept always has to be separated from projects that don't have the same concept as them, and the attractiveness of NFT at this time is clearly visible still big, but for next year I'm still not sure about NFT.

I think NFT's doesn't even make sense, that I cannot even understand why such NFT valued very expensive.
Compared to ICO's where there are actually some of the promising projects with tokens with real use case, people would inevitably put their money where it has the high probability of making fast ROI and high profit.

I suppose the reason is very simple, these art objects are of interest to a very small number of people, among whom there are no supporters of making a big wave on this, they buy what they think will cost a lot of money in a few years. Imagine you buy gold coins from a merchant who thinks it is iron, why would you shout that they are selling gold here.

Because they show a decline in their early stage and continue to have controversy every month which made the entire NFTs go bad which is good for the newbie investors to avoid getting scammed in the hype of an NFT project where some of those projects doesn't really have any vision on how to develop their project. Their goal is only to suck money from those investors after they created some hype with their project. Just look at Cryptoblade, they totally forgot about their promises and focus only to create a new one in order for them to take advantage of the NFT hype again and use it to scam their investors again.

There are some big names trying to enter the bandwagon as reported by the news, but these are only temporary thing. I have seen similar things happen with the previous hypes, they will pull out as soon as the price starts tanking and remains low. What will rather affect individuals who are into NFTs is that they will own a shitcoin/shit-object that has no value while they spent a lot trying to obtain it.

Collectibles should be left to those who actually have interest in it. Even then, they are only bag-unloading place for these projects. You cant re-sell it unless another hype starts or you can get into selling to another collector.

The NFT hype is not as laud as the ICO hype of 2017 which see to many projects making to the exchange and doing well in terms of price value and market dominant. But again since NFT is new let see how the hype goes in the future.