Bitcoin Forum

What do you guys think about the future of nft?
Many people think that nft is useless digital trash, but I have a different idea from them.
This is because many famous companies and platforms around the world employ blockchain developers and create related nfts in various fields such as art and sports.
I think it's now Nft's turn, just as Bitcoin has been treated as digital waste and its price has been upward.
Tell me what you think

I still think NFTs are pretty pointless. Someone just might make an NFT using art os someone else and make money out of it. But NFTs can't be fully protected by the government, because it's crypto. But if it's not verified and protected by anyone, then what is the point of it and why the price of some of them is so high?

You shouldn't really compare Fungible tokens or coins with non-fungible tokens. They serve a different purpose. Like comparing stamps to fiat money.
And i don't see it's NFT's "turn". NFT can coexist with fungible tokens, they are not fighting for the same space.

First we would need to understand why people view scarcity valuable in anything culturally semi important, then turn that scarcity to digital scarcity and you have your answer.

But what do you mean by not being verified or protected? Their whole deal is selling collectables with an easy verification. That someone is stealing art is more of copyright issue, not the NFT issue.

Flipping physical collectables in ebay means you would need to be sure they are original, how are you going to do that? You need just trust the seller, you can't check the smart contract being correct one. Not to mention you would need a dry storage space to store them.

With nfts it's impossible to sell digital counterfeits that could be confused to be part of the original collection. You can sell copies for sure just like in ebay you can sell cheap chinese knock offs but no one wants to buy those and you could check them way more faster then physical copies.

I guess your question should be why price of altcoins is high as this is all about concept of digital scarcity.

Marketcap of BAYC is around 1 billion dollars while marketcap of doge is 11 Billion dollars. So maybe better question is why dogecoin has over 10x value to the biggest NFT collection out there. It doesn't even have links to pictures attached to the tokens :D.

No matter what they do, people will see NFT as low-value projects. They can't be compared to BTC as it was an ambitious attempt and there is no need to do that because NFTs have proven nothing in the first place. If you can afford to invest in hype projects, then invest in these NFTs and so in this way you could also experience of what happened to those investors who trust them in the past.

Bitcoin is really the king in the market and despite any market conditions, this will remain valuable, unlike these NFTs.

I'm going to second this and also say that the future of NFT is regulation or centralization. The window is closing down on anonymous developers and digital art "creators" that sells anything in the guise of decentralization. I can see Government authorities would create and impose rules specifically for NFTs sooner or later.

Many people are all about the hype and hardly about the utility and concept.
Good thing about investment especially crypto is you have different options, those who sees nft as a useless trash can invest in other useful projects.
One thing to note is,  top brand companies are going into ntf and metaverse full force, perhaps they love to waste money on useless trash.  :-X

Still trash ~XD.

It's only one of the trend, and do people are really care about the Art? Let's be honest, If you buying NFTs from a company do they really care about that? I think the reason because they want to gain profit + because some influencer is promoted them.

To many trash NFTs.

NFT and bitcoin are completely different things. You simplified it too much that you ignore what distinguishes between NFT and Bitcoin itself, and it is wholly unrelated.

After all, as you have indicate that the implementation is spread across many big players, do in mind there is also a platform like Opensea, etc. The main point is the future of NFTs will completely rely on how many platforms centralise any aspect of NFT. If the NFT ecosystem wants to thrive, it is necessary to narrow down how the users interact with the ecosystem. With that in mind, it will significantly rely upon the big platform, for example, in which Twitter implements a feature that is able to connect their NFTs into an account.

I think you missed the main wave of growth in prices for NFT tokens. If you like NFT, then it is better to invest in NFT tokens of projects that you think will be popular in the future. This market is much more complicated than the cryptocurrency market and there are more frauds. And identifying scam is much more difficult.

It seems to me that it's not just about pictures or art. With NFT, in the future it will be possible to copyright music or for example the supply of products. I don't know in which industry this could be used, but opensea time will definitely turn into something bigger. Similarly nft will be used in vr. I think nft will have many uses in the future.

I think it was mainly a fad.  There will be some need for nfts in the future but paying 10s of thousands of dollars for a silly internet picture will soon be a laugh at the table with your friends about how stupid it was.  Don't give me this art thing they are mostly all just cash grabs for their creators. Nfts that serve an actual purpose will gain traction though.

When is that going to be? Nfts have been around for a quite a while now and they most likely are only down because of the bear market. Most nfts obviously are just silly low effort copy of a copy but so are most of the altcoins so how they differ exactly?

Does irl collectables have an actual purpose? What should they represent to have an actual purpose? And what kind of actual purpose are you talking about? Not too many people are talking about the fact that in uniswap v3 NFTs are being used to represent LP positions.

NFTs turn is gone! It will only work if global celebrities decide to launch their own NFTs and actively promote it. But if you are a commoner and you decide to try your luck in NFT market, you will be greatly disappointed. Just try if you don't believe it!

As rightly said by Mr. Elon musk, NFT is just a marketing buzzword and nothing else. This is a hype and when that hype was there, people made money! Now it's dead!

You mentioned the possibility of receiving counterfeit physical collectables, however they still aren't perfect copies, because some details from the original artpieces can't be reproduce, such as quality of the material, color tones and brightness when there are golden or silver details. So, the "smart contract" in this case are the physical characteristics of the product which can be evaluated by a specialist.

And to acquire that kind of collectable really makes sense, because it's a physical good, which shows physical differences between the copy and the original, while NFTs don't present any physical differences, if I take a print-screen of any of them and reproduce it in different places on the internet. I won't have the smart contract, but they will look exactly the same.

NFTs are money-grabbing opportunities created by the elite to make more money out of other people who are looking to make money collecting them. While there are some truly unique NFT pieces that have surfaced, most are still a rehash of one idea hoping to milk the hype created from it. Then again, different strokes for different folks. A lot of people see NFTs as something that they can work with and something that they can make money off of, so I guess I'll just let them be. After all, with all the people who are still willing to buy and sell NFT collectibles, it seems that the market for NFTs will not be gone any time soon.

In fact, I often go to OPENSEA to see new NFT works. I wonder why many people collect them. I really don’t understand the meaning? Where does the value of NFT come from? There are also many celebrities who have joined in. If a photo is converted into an NFT, the price will be very high. What is the future of these works?

As much as nft is hype is trending we all knew how much it was down for the last few months since the recession kicks in. But in my opinion thats fine, since metaversr are just started to bloom and nft will found their place again. But od course not all since some are created only just to make money and scam activities. Anyway youll see which one are the goods one.

NFT is also an altcoin project created to pump and dump for profit, it does not have any utility or use case. That's true because even the top altcoins are trash, born just to make a profit and disappear. As long as the NFT can still be used for the hype, it will still be in the market. Like meme coin, many people liken it to garbage, but many projects can bring thousands of % profit, it is not garbage, and garbage is not so profitable.

I think if they start to focus on one company that is producing NFTs from famous people, it would be easy for them to improve it in the future and to make it more popular and also a real item that could be sold at its given price. But instead, people are making NFTs all over the world loosely and the result is not really good because no more will gonna demand when everyone becomes a producer of their own NFT.

Of a truth i don't see anything wrong in NFT development as it allows for contact transfer via blockchain technology and this is an innovation that requires a lot of study, practice and all the other components that make up the successful transfer of ownership of content using cryptography.

The major challenge with this new development is the risk of hacks, scams and other vices that accompany such new development, these things give the original idea a bad name. That is why many people refer to NFT as total shit and not worth anything just like2 all the other web3 developments.

equating bitcoin with NFT is like a ridiculous statement. if you know that bitcoin used to be considered as having no future but bitcoin was the first crypto to appear and after that bitcoin had a strong utility and boost other crypto appeared, such as altcoins.
comparing bitcoin with NFT is really different and very far away. NFTs are just images that do not have much utility and cannot affect anything in the crypto market. in contrast to bitcoin which dominates all crypto coin prices.

and if you know about the hype, it will be there by surprise and after that it doesn't last long and goes away. like the current NFT hype is over. and if you think there is still a chance to rise, I say no.

The future of NFT is long and only just getting started. But like other projects, NFT still needs to be further developed and improved to attract more investors. NFT projects differ from previous crypto projects and cannot be treated the same as bitcoins, altcoins, or even other projects. So let's see how NFT develops in the future while we focus on the market that has started to move. And if NFT can become a trend again in the future, maybe it's time for NFT to grow even more.

NFTs are likely to become a trend again once we enter a new bull market. There are many popular franchises and personalities launching their own NFT collections targeting their fan bases and customers as potential buyers. It's an easy way for them to raise money and in large sums, depending how strong is the speculation on the currently moment. And that is why they should wait for the bull season, as with more demand for crypto, the prices of their NFTs are also going to become more expensive. On the other hand, it doesn't mean it's a good investment for us. The benefit is actually for those who are selling it, and for their fans who must be happy just by acquiring one NFT of their idols, but as investment it's not a good alternative.

I looked at Coingecko and then the NFT section and looked the NFT arts that have been made all throughout the NFT hype.

Surprisingly, there are still volume towards the most famous ones like the Bored Ape, Cryptopunks, Mutant Ape and also that Trump Digital Trading Card that launched a few weeks ago. They still have a 24 hr volume meaning there are still people who are buying and selling it.

Now what is the future of NFT. I believe that it will be the same as DeFi where most of the NFT's whether it's an art NFT or game NFT where those who really want to stay will stay even though the hype is over. Those projects who really want to evolve and develop something will continue to develop. The hype is over for NFT's, but there will still be NFT's around for a long time for both arts and games.

What kind of problem NFTs solve? Unless there is a problem for which the only way to solve it is with the use of NFTs then they will remain as nothing more but speculative assets, bitcoin despite being called trash and being declared dead hundreds of times still survives because it has a very clear function, but we cannot really say the same about NFTs, so be very careful and if you plan to invest in them do so with extreme caution.

Maybe you are but can't deny the fact that many of these NFTs are worth nothing to invest with. You can't hide the fact that many investors can't sell their tokens because nobody buys them. But if you insist that you are right, then prove it.
It can't be enough, in fact, those previous NFT projects have similar cases and make people invest in them because of the said promise but unfortunately, they fail to fulfill their promise and turn into scams. Trusting them back again is really hard, we'd rather put money into projects that are already have a working products for assurance.

As for my predictions, not all of NFT's will survive in the market and actually only few of them are been patronized by the investors and NFT traders. I trade NFT's in SOL and there are only few blue chip projects that are still alive in the market. Most of the NFT's in SOL are just pure hype and suddenly it will vanished like a dust. The good projects there are the DeGods, Yootz, ABC (currently in all time high), Okay Bears and Taiyo. DeGods have a token called $DUST where you can get it if you have their NFT. Their community is so strong and actually, they are the #1 NFT community on Solana.

The future of NFT's are great as long as their is a new uses, cases and hype. Take note that not all of the NFT's will be successful because majority of them are keep failing because of not good management, a whack developers and also the scammers. Choose a NFT project very well before you put your hard earned money. 

It may happen again or the NFT trend will be replaced by another trend that is more promising for investors because the market is not showing good movements either. Indeed many popular franchises and personalities are launching their NFT collections but if the community does not support it, it is likely to be difficult to get support from potential investors or buyers. So before the market changes, the people behind the NFT project have to work even harder so that if the market starts to change direction for the better, there is a possibility that the NFT trend will come back again. Meanwhile, yesterday's NFT trend was only temporary because they only bought and stored it and whether they will be able to sell it in the future or not, will depend on the development of the NFT project itself.

Honestly, NFTs are useless because they don't have any useful utility or use. But say it's dead, I don't think so because NFT is like memecoin, used to generate hype very well, so I believe it will continue to be the trend in the market in the next bull season. Investing in NFTs is no different from investing in shitcoins, once there is a profit, you should sell them, never thinking that they will bring a profit in the long run. Look at the hyped NFT projects in 2021, most of which have lost value and become useless.

I also think that NFT is not for the long term and when we are profitable then sell it immediately,
besides that the price of NFT also seems to have dropped dramatically,
this indicates that the trend will not last long.

And that physical evaluation costs money. If you would be able to reproduce exact copies of the product, the value of physical copies would go down the drain.
You are talking in terms that doesn't apply to the nfts. Only scarcity and adoption matters. Compared to old ways when scarcity was represent only in a physical form doesn't really matter and isn't a good metter to make sense of it.

Let's talk about those pictures since everyone is obsessed about them. Yeah you can own the exact copy of the jpg and print it on your wall if you want. Who cares? Do it right now. But you can't sell it because no one will buy it, even when it looks exactly like original. Not even when you make nft out of it. That's digital scarcity. You either want to be a part of history of digital scarcity or not. It's really up to you.

I can't believe i ended up defending NFTs as i used to laugh at them in 2019 for the same exact reasons you told me.

It must be as bad as meme tokens lol. The NFT issuance was uncontrollable. So many scam NFTs were also appearing just like ico bubble in the past. I see no reason to call NFT has a future other than become a digital art asset.
NFT is so bad to be used as store of value.

It's fact. Are you mad? The totals of NFT scams have been exploding since last year.

They were issuing their own NFT to be money grabbers only. You can see how those companies benefited from their NFTs that sold at non-sense prices. Are you dumb or what? NFT was not even comparable with BTC.  :D ::)

I think it is an individual opinion and I believe that not all are having positive insights into these projects and I'm one of them. Maybe it was early to give some negative conclusion about NFT but because of having a bad experience in the past were I bought some of them (arts), now it turns just like a collection that I can no longer sell for a profit which I'd never think this will happen to me. It could be the reason to think about the dark future of NFT, they are just like ICO before when the hype is done they also gradually disappear.

Agree with you that this is their vicious circle that there is a cooperation to buy NFT with each other even though they are a team to cheat, And NFT will not be as big as Bitcoin, of course it's like a joke..

NFT is an art and art will alway be timely. But there seems to be limitations. People who are calling it trash are ones who simply does not appreciate arts and that's just fine. But never force someone to have  perspective of such because there are really people who would spend huge mount of money. Likewise with typical artworks, appreciation is the key player. It is just that there is a higher demand with digital arts in form of NFT because some has utility and some are project based which makes it more pricy. So i guess NFT industry will still be here for years. Just let those who enjoys it, be happier with their thing. If you cannot appreciate their "world" atleast give yourself a favor to not mind them than to say negative things just because you cannot understand or simply view the positive side of it. That's toxicity already.

sometimes, i don't think that it is NFT itself, but how it is actually being used, and its ownership. most people mainly into gaming i knew hates this because of the concern of materialisation or the issue that you will need to do another process just to access the game. the other one is that how people is going to prove they own the NFT at all, but no one puts the importance of what it runs on top of into scrutiny.

The problem for me was the original, not the chance of being able to be copied. Like the highest paid ones were cryptopunks, and looking at them... I really do not want to own any, and do not make sense that anyone would want to own any neither. I get that it's rare and scarce and all, but it's not art, it doesn't have any reason to own aside from the rarity.

People bought it because there was a hype and NFT was a new thing and punks became the symbol of it etc etc. But at the end of the day there was absolutely no art value to them at all. They were as stupid as the banana stuck to the wall art, definitely something that doesn't make sense at all in the long run.

Can't help but to think of it on how these NFTs are still relevant to this day. Aren't these like way past of the current trend now? If Bitcoin would somehow get back to 64k plus, I am kinda curious if the hype would then revived. There were NFT games here in my country that were hot trend back then and people would even apply for scholarship, but then they went silent after Bitcoin plummeted.

I can imagine all those trends becoming trend again, but I am setting my expectations low

Other than bitcoin and ethereum, there are no long-term investment-worthy projects in the market. Have you tried looking at the entire market, including bitcoin and top altcoins? Are there any projects that didn't plummet? We are in crypto winter, don't ask NFT project to increase the price. NFT will survive or not, we should wait for the next bull season, we'll see, I can't say if you're right or I'm right at this point.
As I said, as long as it can be used for the hype, it will always survive on the market.

Currently, it can be said that the market condition is still bearish even though we see coin prices on the market starting to rise,
Under these conditions, of course, we cannot expect more from the NFT project,
hope the bulls can come soon and let's see.

I wouldn't be surprised because I still see NFT projects until now even though they are lesser than last year. They aren't completely dead yet like the ICOs. Big NFTs are also backed by rich individuals so they will support these NFTs until the end. These NFTs are mainly the ones that celebrities get because their reselling value is high.

I think NFTs have also upgraded and they now offer some perks to it's holders. This makes their game more exciting. If there are NFTs that will remain then I think that will be the NFTs which is related to metaverse. Metaverse is still new right? And it's said that it will be the future of technology so NFT's can also benefit with it.

Well Initial Coin Offerings aren't really dead either, they just changed their form. When people first said they are over it was because they were all starting to be pointless scams.
People said that thank god that's over, never again, we are smarter now.

Then they started to talk about IEOs instead, which is exactly same thing as icos exept those tokens were sold in centralized exchanges, exchanges were supposed to have some quality control over them but in reality they didn't.

Then they started to sell them in decentralized exchanges and called them IDOs. Same thing again. Now they are calling them launchpads.

This is why it makes me smile a little bit when people say that NFTs are over. No they are not. If something they get regulated and change their shape a little and come back bigger then ever.

NFTs are still not recovering and reaching their former glory as it is too soon for this to happen, the recovery of bitcoin has been impressive but still its price is very far away from its previous all time high, but I am sure once the market is immersed in a bull market then NFTs, meme coins and all those projects which do well when traders are willing to speculate in almost every coin will do well, it is just that this is going to take a long period of time to materialize, but make no mistake it will eventually happen.

The trend of NFT is currently down and it looks like it takes several factors to bring back the hype,
slowly indeed the price of Bitcoin is rising again even though there is still a possibility to go back down,
but at least with that I think it's good news.

What is clear is that Bitcoin cannot be equated with NFT or anything else. Do you think if Bitcoin is put on display and becomes trash, the results will be the same as NFTs which are useless and just a display of prices?

I think NFT is now polluted and we can no longer distinguish which ones really have a high value. Everything can be manipulated while Bitcoin until now cannot be manipulated. Do not equate something that cannot be equated in any case.

Simple questions that you might be able to answer quickly.

How fast do Bitcoins and NFTs sell when you put them up cheaply?
Which sells faster?
which one is more interesting to fans?
NFTs can last for months and may expire while Bitcoin does not.
If you have 1 NFT and 1 Bitcoin which one will be profitable fast?

Not to wonder why because these projects are already rejected by most. Nobody will spend and risks their money on a project that we are not sure where it goes, we can't make money in digital arts, they are meant for collections only, not for investment. Well, I'm not sure if there is NFT hype again, their time is over, and it is somewhat impossible to happen again. Although all of these are just a sort of market assumptions and price prediction and it can be wrong or right, still I have no courage of having them.

In fact, I am not sure and believe that NFT can recover and return to its glory despite a bull market and rising bitcoin prices. For Altcoins, maybe everyone can follow the bull market and rising Bitcoin prices, but not with NFTs.
If you still believe and have faith in NFT, that is your choice and everything you will get in the future depends on your steps in the present because I personally am only wasting time and money if I still hope for NFT.
My advice is to choose Altcoin or Bitcoin only for the choice towards success in the future.

The NFT trend now is over, but we don't know if this NFT trend can come out again in the following years and provide something new than before. Now the market has returned to its usual path where investors' focus is back on bitcoin and altcoins. With the crypto market conditions starting to improve, investors and traders have started investing their money in coins with more potential and have the opportunity to increase higher later than investing in NFTs.

I am not sure about the NFTs as dear i am trying to say that NFTs was an air balloon thats it. The concept of NFTs was to promote the real implementation of the Blockchain technology to the real world. Their major use case what i was expecting was to introduce this concept for the validation of real products qhich ww buy from stores but NFTs went for the Spams as many spam projects destroyed the real concept of NFTs. Spam in term of Just membership cards in the form of NFTs that was not the real concept of NFTs.

Until NFTs start applying utilitarian properties, NFTs have no good future. Right now NFTs are just a speculative tool. It is a very risky asset for speculation, and very few NFTs are developing utilitarian properties. As soon as this technology applies these properties on a larger scale, it will live, but until then it will enjoy the notoriety of shitcoins, which depreciate very quickly.

Might be harsh to judge the future of these projects but I guess we have also to think about what these projects can do for us. In fact, they are not profitable in real but just a sort of art collection. Whether it will stay in the market but all I can say is that we can't make fortune from them. If we aim to make money from investing in crypto, we are supposed to look for projects that could really give us what we aim for, not just to spend and get nothing.
As long as we can never see any interesting development form them, it won't encourage investors as well to invest with them.

They've been profitable before but this is the cycle in the crypto market. Once a hyped project becomes profitable, soon its popularity will eventually be gone and it's hard to see it back again.
And on the case of NFTs, there could be some that shall survive but it will never be the same as high as before. The future of it is uncertain because we've been through the bear market and just as the ICOs/IEOs and others, they've never came back as lively as before.

In my opinion, it is difficult to predict the future of NFT tokens, but one thing is for sure, they are here to stay.
and one of the important factors in predicting the future of NFT tokens is their ability to provide utility in games and other applications, if these tokens can be used in more applications then the demand will increase again, and may increase the price. And there is still the possibility of another trend, and it is still too early because the road to NFT is still long and there is a possibility that it will grow again, or disappear, because it is unpredictable.

I really can't sell that, because nobody will have interest in purchasing, since just like me, they can also get a .jpg identical copy for free. On the other hand, you could never have an identical Monalisa painting copy for free. The market of art pieces can work only in physical format.

NFT artistic pieces are purely speculative and a method to launder money virtually.

I believe NFTs have a lot of potential, but inside online multiplayer games only, as they have unique usages on practice there.

People who i know who are buying and selling apes and punks aren't laundering money. They are paying taxes for them, just like with altcoins.

But would that money laundering argument apply in altcoins and why they sell as well?
Because one could explain the whole reason of making new cryptocurrencies, building DeXes and having icos, ieos, and idos as just a method to launder money.

And of course buyers are speculating. Whole cryptocurrency scene is purely speculative so i don't know why NFTs should be an exception. They are just in tokens with a different protocol.

And i wasn't talking about art and i am not sure what Mona Lisa got to do with this. I was talking about scarcity and linking nfts to pictures. And market tells us that they sell and work perfectly in digital format. It doesn't really matter if you call those pictures art or not. And what's happening now is whole another thing, you really can't draw parallers to physical art. Not yet anyway as there's no legit blockhain system that would transfer rights to art, securities or anything like that with permissionless / KYCless systems. They just are what they are.

But originals keep on selling then even if those are the same exact picture. Because people are buying scarcity and history. Quality of that "art" is irrelevant and a bonus.
And i am really baffled why people hate nfts. It's just a protocol.

Personally, I am an art lover so when I see artworks depicted as Nfts I feel excited.

That being said I see a solid future in web2 products transitioning into web3 this includes arts and content, and with some recently developed technology content creators can have their works of genius protected by a trusty app such as the CAPTURE APP of the Numbers protocol ecosystem.

Using this app even in the advent of works being exposed to robotics such works are already backed up and ownership is saved on the metaverse using blockchain technology.

So you see most of the nft fears are unnecessary, a lot could be achieved using web3 services.

As an investor, who has been following NFT's for about a year and has a significant amount of NFT in my portfolio, I think that this technology has a future. However, it looks like it will take a long time for this to happen.

To talk about NFT projects in general, it is possible to clearly state that there are many waste and projects with no future, just like in the cryptocurrency market. For this reason, it is necessary to be very careful when making investments for the future, especially in this area where the transaction volume and the market are just forming. It is also very important to constantly monitor every long-term investment, because NFT prices vary depending on both crypto prices and traditional markets.

In summary, I think NFT technology has a future, but it needs some time to prove itself and gain popularity. In addition, it is clearly understood that not every NFT project has a future.

I am optimistic about the future of NFT sector, as its use case is growing continuously, many industries, such as the art, gaming, and collectibles markets, are already starting to adopt NFTs as a way to authenticate and sell digital assets which indicates that there is huge investor's interest in this sector.
It is also possible that  DEFI sector may start using NFTs as a way for representing ownership of digital assets. Despite all these positive development, it is worth mentioning that NFT market is relatively new, how it develops in future, remains to be seen.

In some cases it also applies. But regards altcoins, there is still a practical purpose on why we should acquire and hold them for real benefits.

True, but if you can speculate on something which has a practical usage it's more advised than speculating on NFTs which have as main argument the uniqueness of the pieces, although you can reproduce each of them for free with a simple print-screen function on your keyboard. The potential of these artistic NFT collections is the same potential of memecoins. Today they have demand, but tomorrow they might not have anymore, because it's exclusively about hype, instead of real benefits and application.

That was an example of scarcity, originality that could never be replaced by a digital format of art.

Because of the speculation which can last until tomorrow only, and not because those NFTs are considered outstanding art pieces. Speculative price can be 1$ million dollars, but artistic value of those NFTs is zero.

Regards NFTs, do you mean? In some months or years nobody will know what apes and punks are anymore and enthusiasts holding those pictures on their wallets are going to see their investments melting down... And that is not hate, just an alert for investors who are being deluded by this category of crypto investment.

Only real life practical purposes for altcoins i've seen so far can be summarized to transfer of value and storage of value. Yet people are mainly using them to speculate with volatility. Which in high enough quanties ironically defeats the purpose for transfering value or storage of value. You can use nfts for transferring value too, that value however will be even more volatile. Ironically again attracting those same speculators who could be speculating with altcoins but are now bringing more liquidity to nfts.

We have already established that you can't reproduce them as collectables. It's like saying you can reproduce bitcoin by making your own chain that might as well be hosted only in your own computer. It would be identical yet, no one wants it.

This is true yet it applies to any altcoin out there. Current applications are only worth something as long there are enough people using them. Not sure what benefits you are talking about.

Once again you are talking about artistic value. NFTs aren't about that. They are about tokens that are not fungible. People are not really "buying art" even though some people are acting as they are. They are buying tokens that are representing something. They are buying pictures in a sense they are buying links to files in ipfs. There are so far only few use cases for them. Reddit for exaample has already implemented nfts as avatars. When you use NFT avatars whey show up differently in your profile and you can't fake having nft as your user profile. But this isn't really about those either as infrastructure for making any practical use for nfts is not mature enough. We don't know what future holds but i am sensing it would be going to direction of profile pics like in reddit first.

And after tech like dusk (https://dusk.network/news/dusk-network-launches-citadel-zero-knowledge-kyc-solution) is ready, we can make them represent actual physical things like securities.

Well this is just you speculating. Some people also thought bitcoin and altcoins would be dead by now. And even icos were supposed to be dead but that just changed name and shape a little and came back with vengeance.

Hi friend, in my very personal opinion, the future is in the NFTs with utility and gaming ones. The NFTs like the BAYC and CryptoPunks will only survive a few like those but most will die if they don't have any utility but their existence.

The most promising in a bull market will be the Gaming Hubs like $DUX that seek the easy adoption of the crypto gaming, especially for those who don't have funds to afford an NFT.

I believe your point is that you think the code, the ownership behind the NFT worths something, while I mean they are all about aesthetics, and that is everything what worths in a NFT art piece, therefore I can copy it and have the same final product anywhere on the internet.

If I have the aesthetics, I see no reason why I should care about having the ownership of it, and I see no reason why it should be so valuable, therefore I consider it a risky investment which can have its price driven from 1$ million to zero in a matter of a day.

You will say altcoins also involve the same risk, but they aren't about aesthetics and their respective blockchains are used by crypto developers to create their own tokens and by crypto enthusiasts to transact when the networks of the main cryptocurrencies are too congested, so it's not so simple for them to have their demand and price nuked.

As you can see, the NFT product is not something we have to lean to either side. They appear and will be accompanied by advocates and opponents of varying sizes, sometimes I think we should consider this issue in this market as normal rather than being carried away by the news. There's a lot of news surrounding it, and from experience that I've learned this is that something like the NFT is just a small part of a big pool of water, and let's just take a look at what it's capable of in that large pool.

It's a trash when there's no art in NFT and only a mere image but it's different when real artists make it. There are a lot of trash images that become NFT since a lot of people want to take the advantage of the Hype and when the Hype slowly fades away it's like NFT is not worth to invest again but in reality, real art will always remain valuable.  

Scammers abused NFTs so much that I do not know if they can make such a comeback, after all it reminds me of the ico model we had before the 2017 bull run, so many people were scammed that icos never recovered, and while they have been renamed many times over since then the model had to change too as otherwise investors would refuse to trust the developers with any amount of money, and I feel the NFT market at minimum will need to go through a similar process.

maybe it is because some people want to follow the hype and take advantage. but it seems that collectors will not always focus on the NFT market, and choose works that are good and have a high value.
however, projects that do business in the NFT market today, always rely on Hype to create market enthusiasm. Do you still remember the Ronaldo NFT event launched by Binance? now, what's the other goal, after all, is done?

We saw images being a thing for NFT world, how about we start seeing something else. There is now a great deal of effort going into publishing world working within the NFT sphere as well, basically e-books but in NFT format meaning you would be able to buy and own a book, you could find torrented version anywhere anyway, so this way if you bought the book, you would have the nft of it, and if you ever want to sell it, you could do that as well.

I believe that it would be something decent if people worked on it properly and that is just one thing. We will see the NFT world spread towards many more industries and not just images, that will be the future of it.

It reminds me a lot of ICOs back in the day, the "timeline/MO" is very similar, I reckon everything will dilute itself with time, and after then we'll probably have more, let's say, genuine intention projects.

Well, difference of caring and not caring about that can be worth of ton of money. And obviously you don't need to care as you will not be part of the markets. Just don't fool yourself of getting the benefits from that picture you copied by using the linked image in somewhere. Except maybe for your own enjoyment, if that's enough for you then fine. Enjoy.

People who minted and hodled Bored Apes got ton of free stuff like mutants, dogs, $ape and when they stake those they get couple thousand dollars per week. So they wouldn't care less how much people are printing or copying apes. Because that's obviously not the point. Those are not part of the set and they are worthless.

And just because collectable NFT profile pics don't have a proper use case yet doesn't mean they won't have in the future, and buying the collectable secures your part in that place. Some people want to take that bet and it's their money to do as they wish.

And just to clarify,  I am not saying NFTs are a safe bet, they are anything but. Or that you should buy them (or even altcoins), you most likely shouldn't if you consider them too much of a risk.  And risk is very high i admit that. Odds are that you will lose.

I am just pointing out that logic people are using to diss NFTs is very much similar to early days of altcoin haters.
You would be making a better point by just pointing out that they are pretty much an expensive lottery tickets. Just dissing the protocol because you can copy some linked pictures makes me think you are missing the point.

If you think ERC721 or ERC1155 are still just about aesthetics you are missing the point i've been making with collectables.
I ended up defending the idea of just one of the use cases that doesn't even have real adoption yet.
They already have use cases in those blockchains you were talking about, like representing the lp positions in uniswap v3.
But people see just the visual ones that might as well be used as keys in the future.

NFT are supposed to be a token for artworks but due to the corruption of most people stealing ideas and arts just to sell them without the knowledge of the owner. It did cause a negative effect on the NFT community plus the bizarre overpricing of most arts/nft brings more losses to people who thought it would bring fortune to them. Now that the selling price suddenly gets low they can't take their investment back that's why most of them forced to sell at a cheaper price.

So, I couldn't disagree with what you said that NFT is a low-value projects in the end. It's just like how the ICO era did in the past.

That's right, NFT is an "idea", it's basically proof of ownership, and the images were mocked with "I could just take a screenshot of it and use it" and even with that it still made tens of millions of dollars to people. If it can go beyond that, beyond something that could be mocked and actually make people some money for it, then it could change a lot.

This started with games that use NFT and tokens and pay people money for playing, but obviously it wasn't enough and ended quickly. Next stop will be actually doing something people would be willing to spend money on, if that could be done, then NFT could increase a lot and be super valuable for sure, it just needs time.

There will be more and more industries going into it. NFT is something that we should be very careful about, it is such a high potential thing that I would definitely not be wary of anything that is going on in there. I have to say that its going to be very important to focus on what could be done, innovation is where it will be.

If NFT world innovates and brings more and more stuff, it has technological capabilities that would be better than anything in the world. But in order for this to happen, we need to first find devs that will work on it and make it better, so far we have only seen ones that copy it and build different images and publish, that's not good at all.

The hype situation is very strong in almost NFTs, but once again this phenomenon will always have people looking for opportunities to continue to make NFTs better known with the aim that they will be able to extract results from situations like this. we cannot escape the fact that there are many people who have money and are willing to do anything to seek the thrill and fame of the many cases that are happening and are now happening in NFTs.
I think that if there are still people who continue to do very unreasonable and strange things then that share will continue to exist and it will be difficult to escape this kind of reality.

It wasn't clear but new projects will come and could possibly outplay NFT as happened to the previous projects. Besides, we never see such importance in these NFTs, not a thing to be worried about because people do not actually have the desire to invest in them.

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I no longer invest in them after the hype is over, I'd sell them during the peak and it was a good decision. But for those who still have, kinda be regrets, most of the NFTs are scams, they can no longer make money from them. We have to stop thinking now that it gains more market attention as their time was over, they still rejected in the end.

In short, only the NFT with a real usage will have a better future because those images most of them have no utilities at all so it will be hard for an investor to make profit out of it and only those with a good hype rise. NFT is still new and good, they just need to improve a lot of things and introduce a new usage for the NFTs. I'm sure  some developer are already working with it, so let's just wait and see when they will release the update maybe they are just waiting for the perfect timing in the market.

NFT is been mainly composed of those shitty gif images and some are hd ones but it doesnt really make any sense on why these arts or images do really cost up millions?It is really that
obvious that its been driven with some hype and able to get those high numbers which are never been realistic and now the bear market hits where most of them had declined their value
and to those who had bought and invested are totally making up some huge loss which i could say that this is a very common scenario if ever you do make yourself
get dragged off with some hype.

The future of non-fungible tokens (NFTs) is uncertain and can be subject to speculation.

 it is possible that NFTs will continue to gain mainstream adoption and become more widely accepted as a form of digital ownership and art.

However, it is also possible that the current hype around NFTs may not be sustainable and the market may cool down.

Some are plain image but those are only built in hopes of earning an easy money while the original/legit NFT is more than just a simple image. They also come with different perks. Publishing world on the other hand are I think dead. The interest on physical books have gotten lesser and lesser.

There are electronic versions of books or so called e-books but I think they have nothing to do with NFT. Both of them are just separated. Other than images in NFT. There are also musical NFT, Gif's, and videos but the best one among all would be the games. So far they are more successful because people enjoy them while being profitable at the same time.

People make haste and just to jump to the trend they put anything to NFT making NFT industry looks garbage.  Games that rely on NFT purchases and promise NFT holders income is the worst one because they can be categorized into Ponzi Scheme that can later own turn to scam and defrauding their player by either rug pulling or running away the funds.  Besides most tokenomics of NFT games are unsustainable since the reward system that they copy is proven to collapse.

For me, NFT future isn't promising but I believe it can be useful if properly used.

At this time there are only few projects are able to mint out fully and that also with marketing while they also belong to the group of project which are cash grab only and whole NFT space is now witnessing huge downfall.So in my opinion if you find out some projects that can give fast returns to cash out do it but no long term holding projects are available.

NFT is still something of a hype which I think is getting harder and harder for them.
Regardless of what their current era is, it can be said that it's almost over, I think, especially with the conditions where the hype was very high, even too over the past few months, which made them mediocre now.
I still feel like there won't be any clarity for them at this point regardless of how difficult it seems to be bringing NFT back in time as it has been a few months prior.

The number of scam cases in the NFT project makes the NFT reputation decreases, especially since the 2022 DROP market is significant so that it makes it difficult for NFT to compete with other projects such as Metaverse, Web3, Defi and so on, this makes us have to always be aware of the market changes so that we must always monitor every day.

It's really unfortunate that the reputation of NFT can be said to have dropped drastically,
besides that currently other projects are also trying to continue to grow and this makes NFT even more left behind,
It is important to keep abreast of market developments.

the concept of the NFT era for today is still not strong enough to meet the global situation. there are still many shortcomings and I think maybe in the coming year with the right balance it can definitely be implemented according to its function. yesterday's birth of NFT is still underdeveloped in concept

It is no the worst idea I have heard but it still feels incomplete, unlike art books are sold by the millions, there are simply too many copies of the book to try to claim that any one of them is rare, maybe this could be done with first edition books with a limited amount of books printed or books which had something extra like the signature of the writer, and even then I doubt this kind of NFTs will get too much attention as the amount of money which has been lost with NFTs is enormous, and not many of those which used to collect NFTs will be interested on still doing so.

if you compare bitcoin with NFT, then the comparison is very far away. Bitcoin has great functionality and community, besides it has a purely decentralized system, so the price keeps going up, and people want bitcoins day by day. different from NFT, which is currently declining in quality, because people feel that it has fewer benefits. many NFTs whose prices were really high during the NFT period were hyped. However, nowadays the price is completely different and really cheap. I read a lot of information about NFTs that are bought for more than thousands of dollars, then the price is very low. besides that, its liquidity is very different from bitcoin which can be exchanged instantly.

I suggest that if you believe in the NFT you want to buy, then make sure that it has some value and that people are ready to buy it when you need money. However, I have a feeling that the NFT will probably be on a bit of a rollback. Personally, I'm also not investing in NFTs anymore at this point due to a lack of confidence in their development.

In the past few years, the popularity of NFT has been relatively good. Although it is not as well-known as Bitcoin, many people are loyal fans of NFT and are not interested in other cryptocurrencies. I also have several free NFTs, which I think are monumental and cannot be measured by price.

Only last year that NFT had a boom and perform so well which attracts investors and due to bigger demand the price soared high. But it was just a short time, the popularity has been going slow due to scams and non-profitable NFTs until such time that investors rejected them. For now, only a few of these projects are left for survival but I'm not sure how this be going this year.
Honestly, I don't have the guts to invest in NFT, not I see them having potential. I'd rather choose Bitcoin and a few altcoins than risk money from non-reliable projects.

There are to many NFTs in Marketplaces
I think only those NFTs which have a usecase gives us a benifit in future and other nfts are trashed

I don't think that nft will have any future, people in general don't understand point of it. Even crypto coins is usually easier to explain

for now I really agree with you that the concept of making NFTs for life is still very minimal, meaning that there is no use for NFTs in today's life,
this has proven that many NFTs have no price, but for the future NFT is of course still very long, and maybe it will be useful for our lives,
so we have to be patient if we want to enter NFT, of course this is the right time, but remember the risks are very big.

NFTs are still not fully understandable to people for now. Because they are thinking analytically why should I pay so much just because an image or video is on the blockchain, in short. If you look at NFTs through the eyes of art then the scale changes. Hodlers who invest and hold NFTs can set their own values for them, it's digital in a very nice and soft way.

The strength of the NFT concept is still minimal under current functions. Of course the game of the rich always creates a new hype. This community support is necessary for this concept to work, but the era is still not far enough to fulfill the completeness of NFT. I think NFT can work when all countries/society understand cyrpto and blockchain which as a function make it easier for humans

When everyone can just create their own money making machine it would be naive not to think that every scammer out there wouldn't take advantage on that.

But obviously this is not about NFT. They are just new vechile for the most popular scam in crypto. I find it weird why people are focusing on NFTs and not Bep-20 on this when when we have actual numbers about other crypto scams. Solidus Labs said that 350 new 'scam tokens' were created every day this year.

https://cointelegraph.com/news/350-scam-tokens-were-created-every-day-this-year-solidus-labs

the recent nfts arts quite literally clouded so many people judgement in regards of the use of nft technology for other things, it could be used for authenticity etc but they are already having impression that nft is nothing more than just fad just because the nft art that quite literally was being used for manipulation back in the days, I think we need some breakthrough in the use case of nft if we really want to save the future of nft and that's not some manipulation like nft arts that has already collapsed today.

so many are calling NFT dead already, after all majority of them has decreased in terms of valuation that some of the famous NFT back then which was valued thousand of dollars like right immediately after being minted now doesn't even have value.
I'm sure that it was caused by the fact that NFT was fully infested by some shitty arts back in the days also contributes to its destruction, NFT is too easy being cloned by some people that wants easy money, therefore its destruction was almost certain.

this is why if you are a buyer of NFT, make sure you have done your due diligence because i am sure, most of these items will go down their price hard. ask yourself, what is the reason why they will be valuable in the future? will there be people be interested with your NFT item? nowadays, it seems that everyone can just scramble something and come up saying that's an art. so yeah, better make sure you are buying a valuable item not to get rekt by this

The future of non-fungible tokens (NFTs) is an exciting one. They are already being used to represent digital artwork, collectibles, and other digital items with cryptographic guarantees of authenticity and ownership. NFTs also have the potential to revolutionize digital asset trading, gaming, and auctions. As with many new technologies, there are still some challenges to be addressed before NFTs can truly take off, such as scalability, interoperability, and security. However, given the current momentum of this technology, it's likely that NFTs will become a major player in the digital asset economy.

NFTs have potential but at the same time a great deal of that potential has been taken away by scammers, at this time when people think about NFTs they no longer think about an exciting sector in the market of cryptocurrencies, the first thing that comes to their mind are the countless scams we experimented during the last year, and this is not the kind of stigma which goes away that easily, as many investors which believed on NFTs lost their money and they are not going to make the same mistake twice by believing in those scammers again.

I think NFT is a kind of collectible. I don't endorse all NFTs. I think NFT has similar meanings to souvenirs. If you like it, you can choose to buy it for collection. It's not going to be an ace among altcoins.

Well with the bitcoin blockchain now filled with this trash over the last couple of weeks, I had a thought about it :)

NFTs can be on multiple chains.

Thus the original one would have to be the one that has the earliest 'block' time on any chain.
Alas you can fake the block time ...

You'd simply have to watch for a new NFT on bitcoin, then mine it into a scamcoin chain and timestamp the scamcoin block earlier than the bitcoin block ...

... and of course someone could do the opposite and mine it into a bitcoin block not long after the original scamcoin block then claim it was stolen by the scamcoin chain.

Fun.

I believe there would be a next version of nft which deeply integrated to metaverse such as land, items so that ppl could use for ads …

for now, it is trash and over value.

Land and items already exist . But selling Nfts as Ad locations where you can customize ads is actually a very good idea. PIctures on those ads however should go trough some filters/people to prevent any illegal material but the idea is very good. Games are already selling ad spaces and you can name space stations etc for money, so it would make sense that these as spaces would easily be transferable in nft markets.

You can't just compare NFT to Bitcoin. Sure there are people who also hate Bitcoin but they do it for a reason, I mean they hate BTC because they can't control it but that isn't the case with the NFTs. NFT can be controlled but there is no significant use about it other than for displaying purposes. There are some things which won't really fit in the digital world and one of it is the art.

It would be better if they leave the art industry as is. Bitcoin continues to improve despite of some of the hates that it gets but don't expect that the same thing can also happen with NFTs where they will also rise. I haven't seen that but what is actually happening is the opposite.

Advertisement is one of the things I think of in generating money from metaverse. I believe that some metaverses is doing it right now. This can be big and prices could ramp up higher depending on how people visit and engage to a certain metaverse. Filters should really be a thing in renting a space ad, There would be people who would most likely put their unlawful advertisement where it shouldn't be. It could catch the authority attention and make a move about it which is certainly negative for crypto and the whole metaverse. 

Not understanding the whole idea of NFT's is our biggest problem. It is not an image, when you talk about NFT's, people think about those images right away, and that has nothing to do with this. Those images use the NFT technology, that's true, but they are not the whole owner of the word NFT neither, they are good but they could be better and all that. I believe that we should be focusing a lot more on what else NFT could be used for, and the moment people realize that, we will get a lot more in the NFT world but until then its not going to go back up like coins do, because the hype is simply no longer there.

Obviously they are not the same thing. They are layer 2 protocol. But i feel that hate comes from same place as with bitcoin.

People don't either get it or they are not in on it and they hate because they see people getting rich as annoying as hell.
Or they do think they get it but as the reality didn't meet their understanding what it should be, they are now hating it. Just like with bitcoin.
Or they hate them because of enviromental reasons. But that only applies to bitcoin nfts anymore.

And i don't think i need to point out that there are more representations for nfts that are other than art?


Sure, i think that almost every game out there is selling ad spaces. But i meant ad spaces in form of NFT, not land space you can name or to modify blocks to advertise, but like screens in the public walls or in several walls, houses, tv slots, car paints etc and those could be freely transferable in open sea and after ownership, jpg/gif could be anything the owner wants . I haven't seen anyone done this.

The future of NFTs (Non-Fungible Tokens) is a topic that generates a lot of discussion and differing opinions. It's important to acknowledge that perspectives on NFTs can vary widely, and individuals have different views on their value and potential.

NFTs have garnered significant attention and interest in recent years, primarily due to their ability to represent ownership and provenance of unique digital assets on the blockchain. While some people do see NFTs as a form of digital trash, as you mentioned, others view them as a promising innovation with transformative potential.

Here are a few considerations regarding the future of NFTs:

1.Diversification of Use Cases: Beyond just art and sports, NFTs have the potential to be applied to a wide range of industries and use cases. These include virtual real estate, music, virtual goods in video games, collectibles, and even tokenizing real-world assets like real estate and commodities.

2. Ownership and Provenance: NFTs provide a way to prove ownership and authenticity of digital assets. This has implications for artists, creators, and collectors, as it offers a more secure and transparent way to buy, sell, and trade digital content.

3. Monetization and New Revenue Streams: NFTs offer creators the opportunity to monetize their digital creations in ways that were not possible before. Musicians, artists, writers, and other content creators can potentially generate revenue by selling NFTs of their work directly to their audience.

4. Challenges and Skepticism: Despite the potential benefits, there are challenges and concerns associated with NFTs, such as environmental impact due to energy-intensive blockchain networks, issues with copyright infringement, and market speculation that could lead to bubbles.

5. Mainstream Adoption: As larger companies and platforms begin to incorporate NFTs into their strategies, it could lead to greater awareness and mainstream adoption of NFTs. This, in turn, could impact their perceived value and utility.

6. Technology and Innovation: The underlying blockchain technology has the potential to evolve and improve, addressing some of the current limitations and challenges associated with NFTs.

Ultimately, the future of NFTs will be shaped by various factors, including technological advancements, regulatory developments, market trends, and broader societal acceptance. It's important for individuals to conduct thorough research and consider both the potential benefits and risks before getting involved in the NFT space, whether as creators, collectors, or investors. Just as with any emerging technology, opinions about NFTs will continue to evolve as more information becomes available and as the technology matures.