Bitcoin Forum

I saw NFT hype in the market and thinking about invest in one. So I invested some of my money in one project called polkamon. Here you can learn details about it: https://coinmarketcap.com/currencies/polkamon/

This NFT project seems very good to me but the price is going down continuously. What do you think guys I should hold this token for a long run or sell-off with a loss? I still think it's a very good NFT project and could easily break out it ATH.

In my opinion, this is not because of the fundamentals but rather to the market has not been booming (NFT project) so that most traders shift their focus to more trading and uptrends.

Sell in profit not in a loss.

But I wouldn't hold that for a long time so while you're having it, make sure that you're in profit when you sell it. And if you want to hold it for long term, think of it if you can bear the possibilities that it will bring to you.

All depends to your decision.

You should dig into the project itself first. Polkamon IDO price is USD 0.4/token. Whatever the price you bought in after listing, it's too high in comparison with IDO. The price keeps decreasing under affect of bitcoin price, it's quite normal. Good news is Polkamon market cap is just around USD 27 million (according to Coinmarketcap) and hence it has a lot of chances to grow.

Regarding NFT, I think it's very trendy now. Among a lot of NFT project, I find that Polkamon is promising. Its name resembles Pokemon, the famous Japanese manga about monsters. I think you should be patient. Polkamon is just a new project and it needs time to develop.

Oh that’s interesting but I’m more interested in playable NFT’s like Axie Infinity and Alienwords which has use cases and has really appreciating value. I really don’t understand what’s the purpose of other NFT’s aside from being collectible its so strange to me that some simple GIF are worth a lot of money unless created if it was created by a well known artist.

Believe it or not, every NFT that is build for in game transaction will bring huge ROI for early adopters than NFT that's focusing on arts only, what I feel here is that there will be more demand for in game NFT than ART NFT projects, this is a dream come true for hardcore gamers in the world

I recently checked their telegram community and I learned that they are going to launch a gaming arena. Also, they have a very big community and their community members are very positive about the future of the project even after that 60% dump. I think it could easily break its ATH level very soon if no bad news came out for crypto space.

I think nft is will be the most trendable concept in future many of project are accepting nft concept and working on it. You can explore the most famous nft like alien world , bitcoinorigion and many more which has a huge value now if you get #1 or near to them.
So search about nft I hope you will be intrested after exploring nfts

Major scam. Worse than ICO and defi both. It is basically nothing. It is just a personalized url/pgp key/signature. It is like getting an autograph from a famous person on your t-shirt. It has no intrinsic value but since you know that it came from a certain individual, you think it has value.

If you would look at the game Alien Worlds it is a type of NFT game that you can mine TLM on a different planet, using various Extractor used to excavate to mine, you can surely get various cards NFT's when you mine, and these cards will surely help you gain more TLM, and as of now TLM has a value of $0.2892 USD

There are also NFT's for NBA top shot, where you can relieve different shot moment of your favorite NBA, I guess this is more on a collecting part unlike Alien World that is a game, I think this is virtual NBA cards in the past where you can surely collect digital assets and as the time goes by certain cards will surely increase its value.

But it will still surely depends on demands.

NFT has tried to gain the attention of everyone from different communities but its not expanding linear as it been shilled. It's not linearly working but  with time perhaps if the big players are still in control.

By the way, I don't get why someone will buy an NFT for 11 millions, its damn so huge. I know their is value in artistic drawings but no, i would invest that in bnb or bitcoin rather.

Yes, and sometimes traders also want to take advantage of the good moments at any time, so some prefer to choose what's trending in the crypto space and that I think is also a very good strategy.

I would definitely not invest in such projects. The project cooperates with Polygon (a level 2 solution for the Ethereum network), but I still do not understand what makes the Polkadot icon in the project pictures. If you know, then write about it.
This project will remind me of a meme https://dontbuymeme.com/
Meme was the first project and was popular, and now there are hundreds of such clones

"While BTC is a store of value, NFT is a store of culture!"

i agree with you, NFTs are such a good investments, and this is like Pokemon cards, which got a lot of intention, like streamers on twitch indirectly promoting it by buying and opening packs live on stream, maybe in the future a lot of people would find NFTs interesting which is starting to happen now, it's definitely worth investing on them.

For me nft stands for No F'n thank you lol

No conclusion yet but I was expecting this to rally as well in their early days and just like what happens to ICO, IEO, and Defi, it burst like a bubble.

So if we have a plan investing these projects, don't think about long-term investment because that not worthy enough to trust. In short, we have to choose the best project rather than having this NFT where it is not yet proven profitable if we are going to have a big chance to gain profit.

nft is becoming more and more popular nowadays, but please be careful. Of the few nft projects I know of, some end up worthless. Initially it shows good progress, but yes it is like fast food, not effective enough in the long run.
especially for nft whose real support is less real. just hit and run, take profit and leave.

Someone dumped it real hard. From $61 to $20 and the volume got really low.
When did you buy it?
If you are in the range of $20-30 bought price then I think you are still safe. There's a huge chance you could still get ROI or a little bit of profit.
I am just basing on charts though as I don't know the project itself and all its features. You just better get out if you see a chance that won't hurt your investment because of its bad history of being manipulated.

After people saw the crazy rise of Dogecoin, they naively believed that all cryptocurrencies on the market will be set up on the Moon boosters. Old and new altcoins will be on their own boosters and will take off to the Moon.

A simple question. Will everything go to the Moon in such an easy way?

My question is they won't. Life is never easy for us like that. NFT tokens are on hype and people who get hyped will accept expensive and unbelievable crazy high price of those tokens.

Those NFT tokens won't survive on the market after more than 2 years. Let's mark my words and check it after 2 more years.

maybe nft will be a big thing in the future considering nft is already very busy trading, so the value of nft can go up / down just like other crypto coins.
because the value increases based on demand / supply in the sense that a few nfts only have a few types that make them expensive, these items are usually called rare items. ;D

What is your buying price? I wish that you did not buy polkamon at $60. If you are scared of losing money, you can sell your half of your coins so as to save your balance. The remaining you can hold and wait for it to increase back to your entry price. But you need to notice that Polkamon has increased more than 50 times since it was first published for IDO.

I see from the existing experience: the crypto project is successful because it is caused by a team working on promoting the coins they want to trade on the crypto market.

This can also happen to NFT, where I see NFT has positive responses from many people and also if you look at the NFT capacity only circulating around 36,863,404 NFT, meaning that coins like this are also a glimpse of many investors, especially from very little supply.
If you look at the development of the NFT market, there are only 3 crypto trading sites at the moment, in terms of the market they list this can also affect the NFT in the market and investors, the more they include NFTs in the trading market, the better the development will be in the future.

Here it is clear, the team has not shown good performance for NFTs in the crypto market the more NFTs enter the trading exchange the better for the future.

Just take advantage of everything, in future NFT might fail or succeed but who cares? Presently there is good hypes surrounding NFT so invest in short term and take profits, there is nothing far better than this

As an investor, you have to make money, so you have to find a new meta. Uniswap is becoming a very hot topic right now.
Do you remember the rise of Dogecoin a while ago?
As a result, Uniswap's Dogecoin-like coins are gradually rising.
The coin called Akita rose by 5000 times in just 5 days.
However, Akita has already climbed.
Pretend to be deceived and listen.
The coin name is fdoge.
Flying governor.
The number of holders is less than 200.
It is a coin developed by good developers.
Coins of the NFT, DEFI, and GAME types, and are being developed by developers.
It is never a scam.
The next meta is fdoge.

CONTRACT ADDRESS: 0xe3798a240bf06610ff756850c1a1489c803c7314

This seems to be the case. Game tokens NFT have a prospect for growth, since they compare favorably with ordinary ones, but those that identify objects of art, I'm not sure. I still can't figure out their functionality. It seems to me that these very peculiar tokens will have limited demand from fans of this particular piece of art. Therefore, I think that this is another hype with DeFi, which will subside after a while.

As far as I know, NFTs has a unique market audience. Not all people are willing to spending their money on some digital art or stuff like that. The sellers usually held an auction for those items and it's kinda different from any crypto market before. However, this field is still developing and will make further progress in the future. So, as long as you did your research, those NFTs not only digital art, but also have utilities on the platform or games, I think you should hold it a little bit longer.

In my opinion, the NFT market has not yet formed, at the moment it is speculation. I don't know people who want to buy NFT because they like this picture.

great video on the future of NFTs: "NFT Project Showcase w/ Alegria/Gian & Animoca Brands":
https://www.youtube.com/watch?v=eVp4ixt9X78

interesting part starts @ min 15

NFT is some kind of frantic new hype, on which you can make a huge amount of money. Many of my acquaintances look at all this and say that the world has gone crazy. Meanwhile, other smart people make money and secure a good future for themselves.

true its not yet proven and we should bear it in our mind, for me( if its possible to don't stick with it ill do it.) since still unknown how legitimate NFT is,  unlike trusted projects out there in crypto space which is very reliable and trustworthy, a good choice for safety as well. .. As the matter of fact mostly such things that emerge here in crypto always turn into scam after all.. So probably short term for it will be a good decision . But long term? Idk if its safe anymore in such new project..

For me now only seeing the hype from the NFT, I have not seen a project successfully exploiting the field. All the NFT projects up to now are almost crazy pumped, I have not seen its use bring much value. However, like defi in the past, I think that all projects related to this sector will have better growth than at present.

You can expect a bubble in NFT.
I'm expecting these new sets of the project will hit the market but as usual, it comes shortly and slowed down until another new project will replace. It is just like how the ICO/EIO does.

I was looking forward to seeing this it helps to promote crypto adoption and it helps to build trust from the community. But I'm in the question of how it affects the current market trend or if this could sustain the bullish season?

NFT is new to the market when it comes to encoding a wide variety of video and audio documents. The uniqueness of the NFT makes everyone interested.
Many projects grew stronger when the NFT trend happened. The NFT is being over FOMO and it will soon adjust the value.
Even google trends have shown a decline in the number of searches. The beneficiaries of NFT projects will soon take profits so be alert when investing.

I am still quite divisive about cryptocurrencies that are in the NFT category, there have been a lot of different potential use cases that people suggest that they have but the only use case i have seen to be possible is to use NFT cryptocurrencies as a means of gamers getting paid for gaming.
Besides that, i think everything else need to be seen in practical and not just theoretical possibilities

I don't really understand what the purpose of the NFT is other than to collect it, it is very strange to me that some simple GIFs are worth a lot of money unless they are made by someone who has a big influence or someone who is already famous.

this NFT seems not worthy to hold after all. Because its gradually losing value and if you see the movement itself in the graph through the link you provided above "CMC" , its been weeks and there's no a great progress.? . For me at this point its really unpredictable if still had a chace to change direction as it keeps bleeding since the uptrend..

Well, in my own view with this NFT Polkamon coin there is a big potentials in a long run. Though they are sleeping coin but vulnerable in time because of some coins in trading might be matched.

NFTs as in current form are quite silly really. You basically own the link to a site that is centralized. Non Fungilble Tokens as a concept is not silly though and they have ton of potential. But right now any kind of real content ownership is legally blurry to say the least. We need regulated DeFi to fix this.

NFT virtual real estate sales are hyping:
https://www.foxbusiness.com/markets/what-makes-digital-real-estate-buying-valuable-nft-expert-explains

Yes, we have seen many new NFT projects launched without any pre-planned roadmap. Investors also invested in those projects without any use case. Right now those project just offer an attractive NFT and their own without any proper use case. I do not think the only use case of NFT is in the gaming era. Many influencers created their own NFT and offer their service to their NFT holders.

An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos
 NFTs (non-fungible tokens) are unique digital assets that are sold via the internet,

I think NFT is the latest innovation which is quite good and can't be said to be useless considering that there have been some pretty good NFTs for the past few weeks. and why I say this is quite good is because basically there is a new change that is quite attractive to some young people today, namely the world of games like the current hype, namely axie infinity, with the game system they will be more interested in NFT and consciously or not in a short time NFT has started to be popular and even this trend I think will develop even more in the future

NFT gonna be useful for almost anything, its just currently we are at early age of nft thats why you see most of nft projects right now are game projects.
but that's fine because these games project also actually helps us see the real usefulness of nft and there are actually many other projects utilizing nft still in development, not yet doing some marketing. but once these projects near to finish their development progress im sure we gonna see nft become popular again.

Looks like this NFT thing is doing great and I've encounter lot of new projects that featuring NFT offering a real-world objects in the traders and investors like art, in-game prizes, real-world luxuries like bags and watches and many more. and yeah were in the early stage of NFT and I think it will grow more as time passes by and NFT seems to be the future of cryptocurrency. Well this is just my own speculations but one thing that I can say about NFT is that this unique feature of digital currency makes me feel more excited about the future of crypto platform.

Are we ready to live in the metaverse?
https://www.youtube.com/watch?v=5HPfklWdHBY

I think NFT is very unique, especially with the presence of games that involve the NFT system. it's been several game projects almost like this. and the average system is also the same. I hope this is your honest opinion about polkemon and not part of he promotion. if I see it there are still many more popular NFT. like axie many of my friends recommend me about it. but so far I'm still not interested in buying NFT games like this.

Another way to introduced crypto and with how people acknowledge the usages of this system, those who are not really interested to this market are now starting to learned,

I mean, those who at first are doubtful with crypto currency are now enjoying one of NFT in-game features, my opinion though.

Many has been lead to crypto by playing the game, and with the knowledge being enhance they are now seeing big potential inside this industry.

NFT is the trend now, so many new projects joining the hype and hopefully, it’ll last until next year because for sure new way of investing will be created next year, a new trend to follow but for now let’s focus on what’s happening in the market. I’m into NFT games and so far I’m happy with it, I can’t wait to see more projects especially about NFT games that offers play to earn.

I've also read news that there are several artists and singers who are interested in making NFT. this is very good right? can bring crypto closer to the real world. this is quite effective in attracting new users who are not familiar with crypto before. Moreover, fans will usually always follow whatever their idol does, this is a good way of promotion.

They're not limited with those that you've mentioned and there are other more that can be found in the form of NFT.

But the craze lately is with the NFT games, those that can give you token as you play the game after you invest. That's playing to earn so as long as the token that you earn is listed somewhere and is tradable, that's where investors and players are going.

Well if you think that it has a good potential do not sell-off with loss, just hold it until its value goes higher then you could sell it to gain profits. There are a lot of NFT games now those who started first in this kind of play to earn games are now in the hype and many people earn profits from playing like the axieinfinity game.

Value of NFT's are changeable and much more volatile, ICO/IEO's token are much stable or sustainable than NFT's.
NFT is an evolution for the community of digital art but I think it is not much profitable for crypto users/ crypto investors.
It works like Auctions, the valuation of a digital fungible art piece totally depends on the height bidder, that's why its value is much volatile.
You can go for NFT's cause it is the current trending and got much hype so anyone can take some profit from it now, but I do not recommend holding for the long term cause the hype will end at the point.

some of the NFT game projects that brought the NFT market are now popular. although several other NFT projects also follow the trend of the NFT Game.
if get it from playing games for free of course it will be profitable. but now some NFT projects are also giving out free NFT for some of their coin holders.
this will be a new trend after the DeFi project. NFT will last in the long run. if you have it now just hold on. it will provide greater benefits in the future.

Many people always have this thinking that NFT is only for selling art or just collection, it can have any other function as well that more than just for collection.
I think its better if people could try to understand well what NFT is, because there are many misunderstanding going around about the real meaning of NFT, its basically digital token that represent real world asset, and by that, not only art, but could be anything.

I think you should hold a bit longer if you think your coin have a potential, I do think NFT is a great way to sell art and is the new way people interact and collecting art. But i dont think to collecting art via nft is a good idea yet still NFT is a breakthrough in crypto space.

If I look at the NFT tokens that are in the op, the ATH is above $53 and the current price is down by more than 80%, if you have a large amount of coins then trade and take profit by buying at the current price, then after you make a profit then you can sell it, don't sell at a loss, maximize the opportunities that exist and always see the progress and progress of the project, because I also have almost the same NFT coin, namely OBR.

I think that now it is essential for everybody who wants to ride the gravy train to have something connected with NFT. I don't urge you to buy expensive digital pictures,as it is more like a lottery, because you don't know if this work will be valuable in the future.

But there are projects that bring real utility through the NFT. But the most popular sphere now is NFT gaming. There are a lot of projects that launch every day.  ::)