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Title: Why NFT might become important in the cryptospace and the world Post by: bbc.reporter on February 23, 2022, 02:25:59 AM There was a thread arguing why we should not invest in NFTs. I agree that similar to the ICOs of 2017, there will be scams and this is a good reason to avoid them. However, similar to ICOs as a democratic method to fund a project, NFT is becoming a cultural submovement that also earns income for the artists and the collectors of the artists’ work.
Also, those digital art pieces might also develop into something important in the cryptospace similar to how a Van Gogh or a Picasso are important in the physical world. This is art, this is culture and because we are humans, much of us have an inborn ability to create art and treasure art of different forms. I speculate similar to ICOs and Defi, NFTs will be here for many years. Title: Re: Why NFT might become important in the cryptospace and the world Post by: julerz12 on February 23, 2022, 05:34:31 AM Maybe, maybe not. Time will tell. As it stands, NFT space is littered with spam and low quality arts that if not controlled will only paint the entire NFT space with bad rep. While the very first NFTs like cryptopunks and kitties might even survive and be eternalized, pretty sure thousands of these so called "arts" will be burried and forgotten eventually. When there's nothing else to fan the flame, it will eventually die out.
Title: Re: Why NFT might become important in the cryptospace and the world Post by: cryptoaddictchie on February 23, 2022, 08:37:14 AM I agreed to OP. Nft is just like a regular ico or ido, they may be pose some threat or scam approach but thats happening eversince right? So why not give it a try since metaverse is seems to be the path of all those nft. People are really skeptical about investment due to scam attempts but if they found a good investment on nft maybe they realize this wasnt bad after all.
Title: Re: Why NFT might become important in the cryptospace and the world Post by: avikz on February 23, 2022, 10:17:10 AM There was a thread arguing why we should not invest in NFTs. I agree that similar to the ICOs of 2017, there will be scams and this is a good reason to avoid them. However, similar to ICOs as a democratic method to fund a project, NFT is becoming a cultural submovement that also earns income for the artists and the collectors of the artists’ work. Also, those digital art pieces might also develop into something important in the cryptospace similar to how a Van Gogh or a Picasso are important in the physical world. This is art, this is culture and because we are humans, much of us have an inborn ability to create art and treasure art of different forms. I speculate similar to ICOs and Defi, NFTs will be here for many years. NFT market is purely created to help the scammers and money laundering activities. It's a great method to turn your black money into white. There is no art in the entire NFT world. If you visit opensea platform and browse the collections, you will see ape pictures are being sold for millions and real pieces of art is staying unsold. There are multiple examples you can see during your visit. NFT market doesn't value art, it values the hype! Once this hype is gone, NFT market will go down to drain as well. Title: Re: Why NFT might become important in the cryptospace and the world Post by: Jackl87 on February 23, 2022, 11:31:16 AM There was a thread arguing why we should not invest in NFTs. I agree that similar to the ICOs of 2017, there will be scams and this is a good reason to avoid them. However, similar to ICOs as a democratic method to fund a project, NFT is becoming a cultural submovement that also earns income for the artists and the collectors of the artists’ work. Also, those digital art pieces might also develop into something important in the cryptospace similar to how a Van Gogh or a Picasso are important in the physical world. This is art, this is culture and because we are humans, much of us have an inborn ability to create art and treasure art of different forms. I speculate similar to ICOs and Defi, NFTs will be here for many years. I think it will be similar to all the hypes that are happening within the crypto space. First a new projects appears that is doing something different and become surprisingly very successful, then the next few project that are launching that are doing the same are also still successful. Then the hype cycle has reach it's highest points and we see a lot of copycat projects that are either just trying to make a quick dollar by copying existing projects or by even being outright scams to begin with. Then the hype around those topic slowly fades away but the good projects that are existing in that segment will stay and will continue to grow and expand but those will only be a few out of those 100's that were created during the big hype. Title: Re: Why NFT might become important in the cryptospace and the world Post by: masterrex on February 23, 2022, 11:57:39 AM IMO, I believe many crypto users and investors do not agree with that notions about NFTs because most people are saying that it was just a collector's hobby and not advisable for investments because NFTs are just digital artwork and there was no demand for it.
An argument like that is taking the NFT platform in doubts plus including the accusation that NFT's demand was artificially induced to gain hype on the NFT marketplace like the Open Sea, But I will say may stand crypto thing is full of hype that's why everything in crypto is risky and there's was no distinction it doesn't matter what kind of idea it is the more important is that before anybody will invest they should know what we are doing. Title: Re: Why NFT might become important in the cryptospace and the world Post by: OcTradism on February 23, 2022, 03:07:24 PM There was a thread arguing why we should not invest in NFTs. I agree that similar to the ICOs of 2017, there will be scams and this is a good reason to avoid them. Different trends in different years but if they have use cases and have good technologies back behind, they will survive. Scam projects can not kill an industry and they will be eliminated by the market, governments and time.Quote However, similar to ICOs as a democratic method to fund a project, NFT is becoming a cultural submovement that also earns income for the artists and the collectors of the artists’ work. People discussed and thought about NFT with use cases as for art, games, etc but they can be used in many industries: finance, data storage and management, etc. NFT and related technologies have huge use cases and can be applied more in society.Also, those digital art pieces might also develop into something important in the cryptospace similar to how a Van Gogh or a Picasso are important in the physical world. This is art, this is culture and because we are humans, much of us have an inborn ability to create art and treasure art of different forms. Quote I speculate similar to ICOs and Defi, NFTs will be here for many years. NFT will be here but so few NFT projects nowadays will be here in next few years. Many of NFT projects will fail and be abandoned or they will have rug-pulls or scam exits. Nevertheless, it won't change the fact that NFT will not die.Title: Re: Why NFT might become important in the cryptospace and the world Post by: bbc.reporter on February 24, 2022, 03:36:38 AM There was a thread arguing why we should not invest in NFTs. I agree that similar to the ICOs of 2017, there will be scams and this is a good reason to avoid them. However, similar to ICOs as a democratic method to fund a project, NFT is becoming a cultural submovement that also earns income for the artists and the collectors of the artists’ work. Also, those digital art pieces might also develop into something important in the cryptospace similar to how a Van Gogh or a Picasso are important in the physical world. This is art, this is culture and because we are humans, much of us have an inborn ability to create art and treasure art of different forms. I speculate similar to ICOs and Defi, NFTs will be here for many years. NFT market is purely created to help the scammers and money laundering activities. It's a great method to turn your black money into white. There is no art in the entire NFT world. If you visit opensea platform and browse the collections, you will see ape pictures are being sold for millions and real pieces of art is staying unsold. There are multiple examples you can see during your visit. NFT market doesn't value art, it values the hype! Once this hype is gone, NFT market will go down to drain as well. I agree that the market for NFTs is being used for moneylaundering, hiding illegal wealth and many of these are pump and dump scams. However, telling everyone that the NFTspace was only created for scammers, by scammers to scam everyone is very much incorrect. Also, agreed. There will always be hype, however, there will always be culture. We should witness the development of this new platform for artists without bias. Title: Re: Why NFT might become important in the cryptospace and the world Post by: Dave1 on February 24, 2022, 03:42:30 AM I think you have some point, and we might see a niche in the future just for NFT and maybe pure art collectors. And who knows, maybe we can see plots in the movie wherein instead of criminals stealing physical paintings and precious art, it will be NFTs in their hands. ;D
So we will see how NFT markets will evolved in the next 5 years as this might be turn into a specialized segments of a market. Title: Re: Why NFT might become important in the cryptospace and the world Post by: bbc.reporter on February 25, 2022, 01:40:20 AM @Dave1. Correct, however, similar to the art community, the NFT that attracts much of the liquidity will be more valuable not only as a collector’s item or an investment, it might also become more useful for moneylaudering hehe. This is reality because liquidity will only attract and create more liquidity. Much of the art industry is also unregulated.
Title: Re: Why NFT might become important in the cryptospace and the world Post by: vv181 on February 25, 2022, 06:28:00 AM Also, those digital art pieces might also develop into something important in the cryptospace similar to how a Van Gogh or a Picasso are important in the physical world. This is art, this is culture and because we are humans, much of us have an inborn ability to create art and treasure art of different forms. The NFT itself may be called as a big shot, but the art within? I don't think so. Separating the wheat from the chaff is hard in a world where every creator is sprouting their creativity, not until a long years after the art have been established, that it will gain mainstream attention in the yet of future worlds.I speculate similar to ICOs and Defi, NFTs will be here for many years. From what I see, there is a great distinction between ICO and Defi with NFT. The former of ICO was obliterated and deemed as failure, Defi may be embraced by many people but it will come as the technology itself matures. But NFT, I think NFT are able to gain wider mainstream attention even though it is still in the early stage compared to the former. The things that many regular Joe users are able to and make use of NFT, it may be a sign that there is something worth attention to within of it. Title: Re: Why NFT might become important in the cryptospace and the world Post by: Gayong88 on February 25, 2022, 07:36:21 AM Regarding the resemblance to ICOs, I'm not too deep into it, but what is certain is that NFT is one of the scientific revolutions for society, both in the art and gaming world, so it's not limited to just buying and selling cryptocurrencies. NFT is a competition because the amount of NFT is limited, unlike crypto, especially during presale and early minting, competition with other users.
Title: Re: Why NFT might become important in the cryptospace and the world Post by: bbc.reporter on February 26, 2022, 03:25:45 AM Also, those digital art pieces might also develop into something important in the cryptospace similar to how a Van Gogh or a Picasso are important in the physical world. This is art, this is culture and because we are humans, much of us have an inborn ability to create art and treasure art of different forms. The NFT itself may be called as a big shot, but the art within? I don't think so. Separating the wheat from the chaff is hard in a world where every creator is sprouting their creativity, not until a long years after the art have been established, that it will gain mainstream attention in the yet of future worlds.I speculate similar to ICOs and Defi, NFTs will be here for many years. From what I see, there is a great distinction between ICO and Defi with NFT. The former of ICO was obliterated and deemed as failure, Defi may be embraced by many people but it will come as the technology itself matures. But NFT, I think NFT are able to gain wider mainstream attention even though it is still in the early stage compared to the former. The things that many regular Joe users are able to and make use of NFT, it may be a sign that there is something worth attention to within of it. I very much disagree with your reply on ICOs. Everyone is aware that much of the ICOs from before 2017 have died, however, the ICO as a democratic method of fundraising a project will not die. It will be called something else and be made to appear like something else but it will be an ICO. Ethereum begun as an ICO, also Binance and other big projects in the top 20 of coinmarketcap.com begun as ICOs. NFTs will certainly go through a similar situation. Much of them will die and similar to julerz12‘s reply, there will only be a few that will hold their value. Cryptopunks and Bored apes yatch club might be the Ethereum and Binance chain of NFTs hehe. Title: Re: Why NFT might become important in the cryptospace and the world Post by: ANSEL_2.0 on February 26, 2022, 05:16:42 AM Only in game NFTs are useful not all those low quality art NFT that people are buying for thousands of dollars, it's only a matter of time that people will start realising that they waste money on so many NFTs, many of them will die and some will be worthless.
Title: Re: Why NFT might become important in the cryptospace and the world Post by: bbc.reporter on February 27, 2022, 03:48:12 AM Only in game NFTs are useful not all those low quality art NFT that people are buying for thousands of dollars, it's only a matter of time that people will start realising that they waste money on so many NFTs, many of them will die and some will be worthless. I very much disagree with your reply also. Do you know these Andy Warhol paintings? They are very similar to the style of NFT art, however, they are being bought and sold for millions of American dollars. What Andy Warhol has done was get images of famous people or images of ordinary things and create art out of them. We might not presently know this yet, however, NFT might be the combination of culture and the cryptospace. https://i.ibb.co/NKwxk0b/7-F11-F9-D9-6136-457-D-ABDE-AA13-FC586616.jpg Title: Re: Why NFT might become important in the cryptospace and the world Post by: sunsilk on February 27, 2022, 09:29:05 AM Only time will tell.
The art industry is really a vast industry for which huge money is flowing there. And as the NFT has been born, they've just expanded their reach and now everyone, every artist can have their own exhibit just by providing their own arts published as an NFT. I think that's the positive side of it and it's for all the artists, unlike before, the art was just mostly for the known artists and only a few gets the attention. But with the rise of NFT, they've became a prospect and I agree about the opportunity that it has given. Title: Re: Why NFT might become important in the cryptospace and the world Post by: kaya11 on February 27, 2022, 11:05:40 AM There was a thread arguing why we should not invest in NFTs. I agree that similar to the ICOs of 2017, there will be scams and this is a good reason to avoid them. However, similar to ICOs as a democratic method to fund a project, NFT is becoming a cultural submovement that also earns income for the artists and the collectors of the artists’ work. Also, those digital art pieces might also develop into something important in the cryptospace similar to how a Van Gogh or a Picasso are important in the physical world. This is art, this is culture and because we are humans, much of us have an inborn ability to create art and treasure art of different forms. I speculate similar to ICOs and Defi, NFTs will be here for many years. The only time that it could match up to the value of the physical paintings is when a copy (NFT) of the said painting would be burn is some ways. Now is the time to make an NFT of those important paintings because there could be a WW3 and even those paintings are not safe. In order for them to survive even nuclear weapons would wipe them out is to save them in a digital one like NFT. Even they are kept underground for security purposes, we might lose them, we don't know yet what a Nuclear war could be, it might change the geographical features of the earth. NFT is a safe haven those treasures if they want to save them of course. Title: Re: Why NFT might become important in the cryptospace and the world Post by: GreatArkansas on February 27, 2022, 12:43:41 PM (....) Indeed, they will stay but for sure in the future, the methods or how they are being done will change like there could be some improvement in the future. Just like how ICOs, which there is newly developed like IDO (Initial Dex Offering), which become much better than ICO (for me).I speculate similar to ICOs and Defi, NFTs will be here for many years. NFT trend now for sure sometime in the future will be changing, like how it become famous for now and for sure later on it will improve like more options of owning it or the way how you own it. Title: Re: Why NFT might become important in the cryptospace and the world Post by: Scripture on February 27, 2022, 12:49:57 PM I speculate similar to ICOs and Defi, NFTs will be here for many years. NFTs hype should remain active as well even though I didn't understand the purpose of some NFTs I still believe that if there's an investor then something is good about it and since Art can't be appreciated by many, only the true collector will see its real value. NFT will continue to contribute a huge impact in cryptomarket, lucky to be part of some NFT projects. Title: Re: Why NFT might become important in the cryptospace and the world Post by: vv181 on February 27, 2022, 03:23:53 PM I very much disagree with your reply on ICOs. Everyone is aware that much of the ICOs from before 2017 have died, however, the ICO as a democratic method of fundraising a project will not die. It will be called something else and be made to appear like something else but it will be an ICO. I stand to be corrected. As far as I am concerned, pretty much sales that are going on now are on IDO compared to ICO. While my point, ICO in a terminology way is left behind compared to what most people doing now which is IDO. But one thing I can be sure of is I also believe the crowdfunding method that started with ICO, and now some people said IDO as a successor of it is worth attending, per se.Title: Re: Why NFT might become important in the cryptospace and the world Post by: JooBra on February 27, 2022, 05:00:49 PM I very much disagree with your reply on ICOs. Everyone is aware that much of the ICOs from before 2017 have died, however, the ICO as a democratic method of fundraising a project will not die. It will be called something else and be made to appear like something else but it will be an ICO. I stand to be corrected. As far as I am concerned, pretty much sales that are going on now are on IDO compared to ICO. While my point, ICO in a terminology way is left behind compared to what most people doing now which is IDO. But one thing I can be sure of is I also believe the crowdfunding method that started with ICO, and now some people said IDO as a successor of it is worth attending, per se.Title: Re: Why NFT might become important in the cryptospace and the world Post by: Kavelj22 on February 27, 2022, 10:12:05 PM There was a thread arguing why we should not invest in NFTs. I agree that similar to the ICOs of 2017, there will be scams and this is a good reason to avoid them. However, similar to ICOs as a democratic method to fund a project, NFT is becoming a cultural submovement that also earns income for the artists and the collectors of the artists’ work. I speculate similar to ICOs and Defi, NFTs will be here for many years. Being here for many years doesn't mean that it's a successful technology. You mentioned ICOs and Defi, can you tell me how many projects based ICO you knew were successful? Among thousands of running ICOs, i only know Ethereum (was first lunched with an initial coin offering) and Binance (BNB). All the rest was a way to scam investors or used for money laundering. The same situation can be applied for DEFI and for meme coins as well. NFT market has few use-cases (mainly in gaming) but we can't say it's successful because someone was successful to sell a pixel art for thousands of dollars as no one can tell who bought it and for what reasons. Title: Re: Why NFT might become important in the cryptospace and the world Post by: bbc.reporter on March 18, 2022, 04:35:19 AM There was a thread arguing why we should not invest in NFTs. I agree that similar to the ICOs of 2017, there will be scams and this is a good reason to avoid them. However, similar to ICOs as a democratic method to fund a project, NFT is becoming a cultural submovement that also earns income for the artists and the collectors of the artists’ work. I speculate similar to ICOs and Defi, NFTs will be here for many years. Being here for many years doesn't mean that it's a successful technology. You mentioned ICOs and Defi, can you tell me how many projects based ICO you knew were successful? Among thousands of running ICOs, i only know Ethereum (was first lunched with an initial coin offering) and Binance (BNB). All the rest was a way to scam investors or used for money laundering. The same situation can be applied for DEFI and for meme coins as well. NFT market has few use-cases (mainly in gaming) but we can't say it's successful because someone was successful to sell a pixel art for thousands of dollars as no one can tell who bought it and for what reasons. There are not many projects that begun as ICOs that have become successful, however, the projects that became successful has become very successful. These are projects like Ethereum, Binance smartchain, Avalanche and other blockchains. Was Chainlink an ICO? I reckon that project is also very successful. In any case, this news might also imply that my speculations on NFTs might become true. One of the world's biggest bank is investing in the metaverse. This is certainly only the beginning. NFTs will in portfolios of billionaires. HSBC (HSBC), with almost $3 trillion in assets, is the first global bank to enter The Sandbox metaverse, the blockchain gaming firm said on Wednesday. The bank will buy a plot of land at The Sandbox metaverse, which it will develop to engage with sports, e-sports and gaming fans, the statement said. Details of HSBC's development in the virtual plot of land weren't announced. A promotional GIF that was posted along with the statement showed an HSBC stadium next to a virtual body of water. HSBC sees "great potential" in creating "new experiences through emerging platforms," said Suresh Balaji, chief marketing officer at HSBC Asia-Pacific, in the statement. The partnership with The Sandbox will enable the bank to "create innovative brand experiences for new and existing customers," he added. Gucci, Warner Music Group (WMG), The Walking Dead, Snoop Dogg and Adidas are among global brands that are working with The Sandbox. Source https://www.coindesk.com/business/2022/03/16/hsbc-enters-the-metaverse-through-partnership-with-the-sandbox/ Title: Re: Why NFT might become important in the cryptospace and the world Post by: AnisahSiti on March 18, 2022, 05:49:42 AM There was a thread arguing why we should not invest in NFTs. I agree that similar to the ICOs of 2017, there will be scams and this is a good reason to avoid them. However, similar to ICOs as a democratic method to fund a project, NFT is becoming a cultural submovement that also earns income for the artists and the collectors of the artists’ work. Also, those digital art pieces might also develop into something important in the cryptospace similar to how a Van Gogh or a Picasso are important in the physical world. This is art, this is culture and because we are humans, much of us have an inborn ability to create art and treasure art of different forms. I speculate similar to ICOs and Defi, NFTs will be here for many years. I agree. NFT is a place where artists and art enthusiasts come together to create and appreciate the work of the artist. Where what is judged there is the art regardless of the price of a work of art, art fans will not care about it. I also think that NFT will continue to exist like ICOs and DeFi. Because I think there will be many artists who will work through NFT to distribute their work digitally. Then the game industry, which in my opinion will continue to grow, will also enliven the NFT market and make it live for many years. Title: Re: Why NFT might become important in the cryptospace and the world Post by: husdemba on March 18, 2022, 06:48:01 AM There is a lot of discussion about NFTs. Art, culture, sports are indispensable factors of human life. In the digital world, these artifacts can now be stored differently. For this, the NFT issue may become more valuable.
Title: Re: Why NFT might become important in the cryptospace and the world Post by: bbc.reporter on March 19, 2022, 04:27:20 AM There was a thread arguing why we should not invest in NFTs. I agree that similar to the ICOs of 2017, there will be scams and this is a good reason to avoid them. However, similar to ICOs as a democratic method to fund a project, NFT is becoming a cultural submovement that also earns income for the artists and the collectors of the artists’ work. Also, those digital art pieces might also develop into something important in the cryptospace similar to how a Van Gogh or a Picasso are important in the physical world. This is art, this is culture and because we are humans, much of us have an inborn ability to create art and treasure art of different forms. I speculate similar to ICOs and Defi, NFTs will be here for many years. I agree. NFT is a place where artists and art enthusiasts come together to create and appreciate the work of the artist. Where what is judged there is the art regardless of the price of a work of art, art fans will not care about it. I also think that NFT will continue to exist like ICOs and DeFi. Because I think there will be many artists who will work through NFT to distribute their work digitally. Then the game industry, which in my opinion will continue to grow, will also enliven the NFT market and make it live for many years. However, once NFT and Defi merge, it might not be the artists who dictates what NFT will be more valuable or be the most beautiful. I speculate that similar to the art industry, with art sellers and agents who run the industry, it will be the market but in a more scalable method through Defi. Title: Re: Why NFT might become important in the cryptospace and the world Post by: asyakashi on March 19, 2022, 10:49:52 AM The concept of NFT seems to be an upgraded version of a coin or token utility of the blockchain itself.
Basically using the blockchain network only to transact, send, receive and shop on any platform that accepts the coin to buy goods. in contrast to NFT, which can reach a wider range of applications, if an application requires NFT to use it, I think it is incomplete if it only uses coins that are only transacted in general. NFT is used to read the platform as a token of ownership it is the core of NFT and therefore NFT is quite important in the cryptocurrency world. Title: Re: Why NFT might become important in the cryptospace and the world Post by: AnisahSiti on March 20, 2022, 06:05:43 PM There was a thread arguing why we should not invest in NFTs. I agree that similar to the ICOs of 2017, there will be scams and this is a good reason to avoid them. However, similar to ICOs as a democratic method to fund a project, NFT is becoming a cultural submovement that also earns income for the artists and the collectors of the artists’ work. Also, those digital art pieces might also develop into something important in the cryptospace similar to how a Van Gogh or a Picasso are important in the physical world. This is art, this is culture and because we are humans, much of us have an inborn ability to create art and treasure art of different forms. I speculate similar to ICOs and Defi, NFTs will be here for many years. I agree. NFT is a place where artists and art enthusiasts come together to create and appreciate the work of the artist. Where what is judged there is the art regardless of the price of a work of art, art fans will not care about it. I also think that NFT will continue to exist like ICOs and DeFi. Because I think there will be many artists who will work through NFT to distribute their work digitally. Then the game industry, which in my opinion will continue to grow, will also enliven the NFT market and make it live for many years. However, once NFT and Defi merge, it might not be the artists who dictates what NFT will be more valuable or be the most beautiful. I speculate that similar to the art industry, with art sellers and agents who run the industry, it will be the market but in a more scalable method through Defi. To become like that will take a long time and development. There are many artists in the world whose rights cannot be protected by the government in their country, even their works are often pirated and royalties that are not necessarily channeled to artists are able to encourage the development of the NFT sector in the future. Most likely what you convey is able to provide new hype and new market share which later aims to bring good change, of course, to artists and art enthusiasts around the world. Title: Re: Why NFT might become important in the cryptospace and the world Post by: Eternad on March 20, 2022, 06:15:29 PM I speculate similar to ICOs and Defi, NFTs will be here for many years. yes I agree, NFT will exist and the hype will last a long time. nft is a lucrative industry for artists especially those focused on digital. The NFT market is very strong today and is growing every day. and NFT has also begun to be applied to other things such as Games and more. looks similar to ICO and defi, but arguably the NFT ecosystem is much better.Title: Re: Why NFT might become important in the cryptospace and the world Post by: uneng on March 20, 2022, 06:29:59 PM I've never seen an unique piece of art in NFT environment. They are pretty common, so i think there is a clear overvaluation happening right now. The same art concept a freelancer designer can create for 10$ or 20$ at any site around, including this forum, is being sold for thousands of dollars in NFT format by some artists. It makes no sense someone is going to buy it and it's really suspect.
Moreover, virtual art can't be compared to physical historical paints, statues, sculptures and architecture. The effort, patience, skill and technique demanded are totally different. So I see no point in justifying the expensive price of NFT art pieces for this reason. Title: Re: Why NFT might become important in the cryptospace and the world Post by: bbc.reporter on March 21, 2022, 01:13:54 AM The concept of NFT seems to be an upgraded version of a coin or token utility of the blockchain itself. Basically using the blockchain network only to transact, send, receive and shop on any platform that accepts the coin to buy goods. in contrast to NFT, which can reach a wider range of applications, if an application requires NFT to use it, I think it is incomplete if it only uses coins that are only transacted in general. NFT is used to read the platform as a token of ownership it is the core of NFT and therefore NFT is quite important in the cryptocurrency world. I disagree. NFTs have become more popular because it has something to do with the culture of the cryptospace than the utility side. I reckon Cryptopunks is certainly a very good example of this. It was free to mint with no utility during 2017, however, today one cryptopunk is presently valued more than $100k for every cryptopunk. Why is this? Similar question on why Andy Warhol's paintings and his other art works are more than $100k for every piece. Title: Re: Why NFT might become important in the cryptospace and the world Post by: Fundamentals Of on March 21, 2022, 03:05:00 AM The world of NFT is a free world. Nobody is forced to buy a jpeg worth a million. Just like during the ICO, nobody is forced to invest in a project that turned out to be a scam.
But the main problem is that it is a free world. In a free world, the predators are free to abuse their prey. This is what happened in the ICO years. Projects are 99.9% scam and low quality. They are promoted and marketed everywhere. They used the names of large companies and popular individuals to prey upon the innocent people. This is somehow the same with NFT. Not to mention that many NFTs steal artworks and are not really showing any amazing artistic talents. Creating pixeled avatars and selling them for hundreds of thousands with the promise that its value would appreciate more in the future because it is a limited collectible is tantamount to fooling the customers. Comparing a jpeg picture of a monkey with the works of Van Gogh and Picasso is an insult to art itself. Title: Re: Why NFT might become important in the cryptospace and the world Post by: doomloop on March 22, 2022, 11:24:14 AM The world of NFT is a free world. Nobody is forced to buy a jpeg worth a million. Just like during the ICO, nobody is forced to invest in a project that turned out to be a scam. Yeah, when it is a free world there tends to be more risk involved. In a community that is decentralized there is the possibility that a lot of scammers will be trying to prey on some people. Because, they know that there isn’t anyone to look into whatever issue that happens in the cryptocurrency community most of the times. So, it is up to people to be careful when it comes to NFT.But the main problem is that it is a free world. In a free world, the predators are free to abuse their prey. This is what happened in the ICO years. Projects are 99.9% scam and low quality. They are promoted and marketed everywhere. They used the names of large companies and popular individuals to prey upon the innocent people. You have to know what you are buying and be sure of it and not just buying any art you see on any of these NFT platforms. You have to be very sure that what you are buying is correct and also know the quality of art piece that you are buying. You don’t just go buying random stuffs without even checking them out. Title: Re: Why NFT might become important in the cryptospace and the world Post by: kidbounty on March 22, 2022, 03:06:55 PM NFT looks important because the trading volume of NFT is very large. there are many people who want to buy NFT at a high price while hoping it will be more profitable in the future. Unlike most crypto coins which are highly dependent on the market situation, NFTs are very different. The NFT ecosystem is moving due to rumors/speculation so it's hard to predict. maybe this is what makes NFT has its own place in cryptospace.
Title: Re: Why NFT might become important in the cryptospace and the world Post by: bbc.reporter on March 23, 2022, 01:40:54 AM NFT looks important because the trading volume of NFT is very large. there are many people who want to buy NFT at a high price while hoping it will be more profitable in the future. Unlike most crypto coins which are highly dependent on the market situation, NFTs are very different. The NFT ecosystem is moving due to rumors/speculation so it's hard to predict. maybe this is what makes NFT has its own place in cryptospace. I disagree. There is certainly more in NFT art than being a medium for profit. There is value in a new type of culture being created because of new mediums similar to NFT. I will also predict that NFTs will bring more mainstream users to the cryptospace than bitcoin, altcoins and defi. It is beginning with fashion brands already. These companies will certainly bring more than a billion people in the cryptospace through NFTs. Estée Lauder Breaks Into the Metaverse One of prestige beauty’s biggest heritage players has set its sights on the metaverse. Estée Lauder, as the exclusive beauty brand partner of Decentraland’s Metaverse Fashion Week, is debuting its first NFT. Source https://wwd.com/beauty-industry-news/beauty-features/exclusive-estee-lauder-breaks-into-the-metaverse-1235138604/ Title: Re: Why NFT might become important in the cryptospace and the world Post by: magneto on March 23, 2022, 09:48:06 AM There was a thread arguing why we should not invest in NFTs. I agree that similar to the ICOs of 2017, there will be scams and this is a good reason to avoid them. However, similar to ICOs as a democratic method to fund a project, NFT is becoming a cultural submovement that also earns income for the artists and the collectors of the artists’ work. Also, those digital art pieces might also develop into something important in the cryptospace similar to how a Van Gogh or a Picasso are important in the physical world. This is art, this is culture and because we are humans, much of us have an inborn ability to create art and treasure art of different forms. I speculate similar to ICOs and Defi, NFTs will be here for many years. I agree that NFT art can be a good thing, especially if the art has some substance. It's just that there is not much objectively good art right now. I do realise however that the community aspect of NFTs is definitely not to be underrated, but that's a different discussion in its own right. The major utility for NFTs will be sort of a loyalty token/status symbol. As you said, like the ICO/DeFi craze, I don't see these things going away any time soon. But some early projects are definitely going to die down as the hype falters. Title: Re: Why NFT might become important in the cryptospace and the world Post by: ItsNotSean on March 23, 2022, 11:18:36 AM NFT market is purely created to help the scammers and money laundering activities. It's a great method to turn your black money into white. There is no art in the entire NFT world. This guy gets it.If you visit opensea platform and browse the collections, you will see ape pictures are being sold for millions and real pieces of art is staying unsold. There are multiple examples you can see during your visit. NFT market doesn't value art, it values the hype! Once this hype is gone, NFT market will go down to drain as well. There are likely a few projects that might possibly, by sheer chance, wind up retaining some value 10 years from now. In its present incarnation the NFT market has been co-opted by certain parties to launder money/ tokens. The sad, unexpected consequence was that a herd of momentum chasing crypto "investors" have unwittingly (or ignorantly) jumped on the tail end to hold the bags for the launderers! Title: Re: Why NFT might become important in the cryptospace and the world Post by: justdimin on March 23, 2022, 04:49:39 PM NFT needs to crack out of this "play to earn" and "images" world. Those are the two things that it is famous for right now and unless people find a way to stop that, it will always be remembered the same way and I do not think that it would help NFT to grow.
If we could get some other methods to use NFT, some greater utility then we are going to see a lot better results but if we fail to see that, we will not be able to see NFT do any better and eventually start to go down more and more. Obviously, we will not be easily predicting when that will happen but hype is already losing power right now and it is harder to sell out as an NFT project these days. Title: Re: Why NFT might become important in the cryptospace and the world Post by: bitgolden on March 26, 2022, 09:14:02 PM There are likely a few projects that might possibly, by sheer chance, wind up retaining some value 10 years from now. In its present incarnation the NFT market has been co-opted by certain parties to launder money/ tokens. What you have to understand is that if you are only looking at NFT images and think that this is what NFT could all be about and nothing else, then you are going to of course believe that it is a scam. NFT images are used for scamming, money laundering, promotions of nothing, and many other bad stuff (albeit could be a few good, who knows).The sad, unexpected consequence was that a herd of momentum chasing crypto "investors" have unwittingly (or ignorantly) jumped on the tail end to hold the bags for the launderers! But the idea of NFT is not just images, it might get popular thanks to that, but it is not that alone. We are talking about ownership papers here, and NFT could result with so much more than just images thanks to this development. It is not going bigger right now, but give it some time but there will be much more than just images in the NFT world. Thats what I am hopeful about for the future. Title: Re: Why NFT might become important in the cryptospace and the world Post by: 7788bitcoin on March 26, 2022, 10:32:04 PM ~ NFT is definitely much bigger than just pictures and arts, there are projects now launching music and other clips as well. P2E is another aspect of this market and we are yet to see solid games in this platform but in a few years we will see interesting games and other in game memorabilia being traded in NFT and major gaming companies are already in the space and things are getting interesting.But the idea of NFT is not just images, it might get popular thanks to that, but it is not that alone. We are talking about ownership papers here, and NFT could result with so much more than just images thanks to this development. It is not going bigger right now, but give it some time but there will be much more than just images in the NFT world. Thats what I am hopeful about for the future. Title: Re: Why NFT might become important in the cryptospace and the world Post by: KennyR on March 27, 2022, 04:17:14 AM There are potential ICO projects, same is with IDO and now it is the time for NFT. The concept behind NFT to have a unique property behind every token makes it more valuable. This way anything can be backed adding it to the metadata of the particular token. I want to know how far is the potential growth, the popular ones and the one who thinks very unique makes millions. Another thing the market is bonded with auction and here the valueless backing sometimes valued big and the real one stay unsold.
Title: Re: Why NFT might become important in the cryptospace and the world Post by: smartaction on March 27, 2022, 04:30:46 AM There was a thread arguing why we should not invest in NFTs. I agree that similar to the ICOs of 2017, there will be scams and this is a good reason to avoid them. However, similar to ICOs as a democratic method to fund a project, NFT is becoming a cultural submovement that also earns income for the artists and the collectors of the artists’ work. Also, those digital art pieces might also develop into something important in the cryptospace similar to how a Van Gogh or a Picasso are important in the physical world. This is art, this is culture and because we are humans, much of us have an inborn ability to create art and treasure art of different forms. I speculate similar to ICOs and Defi, NFTs will be here for many years. NFT is only picture , Art , videos etc which is a bad thing and unless product. ICO is always best . NFT project didn’t alive on market for long times . some NFT project just create hype on launching time but didn’t alive in market . i support ICO project every time coz all successful ico project have good and trustable product and that project Survive in market for long years even it will Survive lifetime Title: Re: Why NFT might become important in the cryptospace and the world Post by: FAYCNFT on March 27, 2022, 05:24:41 AM The future of NFT is very clear now a days. It's getting popularity day by day. Lot of awesome projects already sky rocketing the field. I think NFT is the next revaluation on crypto space.
Title: Re: Why NFT might become important in the cryptospace and the world Post by: darewaller on March 27, 2022, 05:50:06 PM I can't tell you for sure where NFT is really heading to. in the future, it is quite possible that it might be useful and continue to stay. But, so far it seems like there have been so many people who just get on there to stock up on arts and expect to sell them in the future and there’s also been some fake art and spamming on most of the platforms.
I feel that all these platforms needs to be in check. They need to know what is really going on in this platforms and put them under control so that it doesn’t really get out of hand. So far it has been benefiting lots of artists and they have been able to make good income off NFT, which is definitely a good part of the system. |
