Bitcoin Forum

I'm kinda new in cryptocurrency so please correct me if I say something inaccurate.
As we know NFT is really popular now days and some people support them and others against them. I'm watch these video and yeah i can't deny it, in opensea for example, i see some art thieves not only one or two but very often, and terrible art but gain more popularity and high value.
so what do you think about this video? and what do you think about NFT?

the video what i talking about: https://www.youtube.com/watch?v=wDtt24RxdLk

isn't art is subjective? i mean maybe you see them terible or ugly but hey maybe someone else find them interesting just like that banana thing in museum.
And some artis already have name so they gain populaity a bit easy like yacth club, as i remember yatch club is developer a game name shovel knight in the pass.
interesting video, he's not wrong though

It caused by those thieves are getting motivated to earn money through various ways. I should remind you that if the art totally depends on someone's opinion and this is also subjective as sometime you can see art being used as money laundery on nft platform and various things. I do agree if that's horrible.

I can agree with that video. NFT is still new and it needs so many improvements especially to give unique code to proves if its real and it's not a copypasted art that already done by so many thieves in internet. Ths is the big question that must have solution about how to fix it. So many people are only copy and pasting the art that created by others. This is the problem and so many accusations for NFT being manipulated by so many parties.

It is neither actually. NFT is just a technology provided by blockchain and smart contract. One of its uses right now is art. But if you are to ask me about NFT in the art world right now, whether it is really an enriching contribution to the rich history of art or it is simply a monkey business, I would say it is more a monkey business than art. NFT in art is just a hype. And all kinds of people, celebrities, opportunists, etc are just using this hype to make money. They're not even creating beauty.

it could be both because the famous NFT right now are also seems like a monkey business because they are just following the trends its sort of like a bubble if you observe it.
In the future the whole NFt market could be flooded by great arts from talented artists but right at this moment I think the market will just get spammed by some NFT makers that are just trying to make some easy money out of it.
and I did see that the theft in NFT market is also very rampant I think in the future there should be some kind of filtering that prevent the same arts being created as NFT over and over again because it could be very irritating, just imagine if the market is getting flooded by some fake arts 

I am not an NFT expert and still not sure if I understand correctly how ownership is transferred and how NFT prices are estimated. However, I also have the impression that the popularity of NFT is just a hype that can pass at any time and if interest decreases, unfortunately NFT prices will also start to fall and many people may be left with nothing but just some worthless digital image.

I find the value to be too much for most of them which these NFTes are just too hype that we give away our Eth for the craps. I like to see them affected when bear market is here but they are not. The only affected are the NFT tokens. Its god for hedging but will there be someone buying the NFT art you keep in times when you want to sell them?  This I'm not sure. Maybe its really for monkeys  ;D

I think only a few people really know how NFTs work. They have invested a lot of money in it and they create a bubble. They tell people it's a great investment, but it's really just price-pumping. A similar situation was with tulips bubble, where one could cost as much as a few houses and then everything became worthless. I think the NFT bubble will burst soon.

Such things are inevitable in such a so-called decentralized network. We will keep seeing how those kind of scam and theft are keep popping up just like how many scams/shitcoins are still flourishing to this day. The only way that Opensea is able to get over it is just simply delisting the NFT from their end.

I can't say anything but it comes down to the buyer perspective, the owner might find the aesthetics of the art isn't subjectively relied only on how it looks, as the interview on the video has already been addressed. But some also can say that the art itself is an utter shits, that the value does not represent the aesthetics. It really comes to as subjectivity. As a matter of the famous saying, "In matters of taste, there can be no disputes".

I am also not an expert in this field but with what's currently happening in the NFT art market, it seems obvious where all this would head to. A lot of NFT art pieces that are sold high are nothing but simple creations, no complications, not something that only "artists" can do. Another reason why this would likely fall is that the market is highly unregulated. Theft is rampant. A lot of artists' works are simply copied and sold in the NFT market.

It is art for them who called it is an art and that is not art for them who does not want to say that it is not art.
People will say what they want and while NFT is still booming among them, some people are trying to get involved and many of them have already sold their stuff at a high price.
We can not deny that they are lucky enough to see the chance at the right time.
NFT is another trend, as usual, that happens in the crypto world and NFT itself needs to develop more so it is just beginning and who knows, it will change in the future as the new trend will replace the NFT.

in my opinion nft is new technology that need more improvement but you know art is confusing same as love hahahhah

i will take example that bored ape and other unique nft is art but i consider as play card that i play when i was kid to me art is like painting or statue but different people have different answer

why so hype its because there is crazy people that have dozen of money and buy some "art on the internet call NFT" for crazy amount of money so people dive in and so much people attracted nft maker get rich because of it

but not all nft is shit there is really an ART that worth to buy, right know people trade it some of unique NFT that available for some buck

The majority of the NFT games at the moment are monkey business to me, they're just few of them in which I could say it is legit.
And the NFT games so far where it is good to me still Axie Infinity, Cyberdragon, Mir4 and Bomb crypto. These are just my own assessment
and opinion only. But of course, you need to make a research in your own little way.

As of now, NFT is moving where people are buying and so far it does not matter if a piece can be ugly for you or not...as long as someone is buying it then it is fine. Obviously, NFT has become a vehicle of doing business which items we just taken for granted in the past just like an image of a rock which can cost millions in dollar. Now, of course, with the news of this and that NFT going millions, there are a sea of many other NFTs that got no real value - and maybe this is why an NFT platform is called as OpenSea.

There are few different things to note here. The art is something which may be terrible from one person point of view but the for the other person there may be something interesting or valuable in it. Therefore, NFT arts have no fixed price. It's what the person is willing to buy and give his price.

Those who stole other people's arts or don't put any effort, their NFTs are not worth it but if they get them sold at good prices, you can call them lucky. Since it's the NFT hype season, some people just use this hype to gain easy money while real artists sometimes find it hard to sell their masterpieces.

Agree on this. But most if this monkey business occur on NFT collection without any utility like Cyberpunk and other over priced NFT collection in the market which is the product of price manipulation and fake buys just to pump the price / hype the market. The increasing number of new scam NFT projects is the main reason why the image of NFT is already incorporated to monkey business. Scammers are using the hype of NFT to get free money from dumb investors.

Another wealth transfer and for some it's a way to launder money. Whatever is the description that you think in your minds, there's nothing to change for those sellers that are making a money from it. Actually, I envy those people that have been selling their arts through NFT and making a lot of money from it. It's all about sale, if these people are making money from selling ugly or beautiful arts, then so be it, there's something that they do to make it sold out.

Is it art? Depends on who's viewing the NFT.
Even a simple black dot on the plain white sheet can be called an art especially when someone appreciates it.
Once you get past the enormous number of profile picture NFTs, there are far more beautifully created digital art that can be found on Opensea. From stunning photos to unique digital paintings.
You just need to dig up a little to find these beautiful arts since most are overshadowed by those randomly generated Profile Picture NFTs.
But, whenever an industry is booming, there are those who would do anything to get the most of it by doing something shady and that's where the monkey business comes in. NFTs that are just copied, stolen, and plagiarized; NFTs with zero utility.
Without a doubt, regardless of how anyone views it, NFTs are here to stay. Especially when a lot of money is circulating around it.

An art may look different for each set of eyes so it really subjective but it is really worth for few hundred millions then I will say nope because there is no use case and we  can't find the actual value of the product and to me its just a gift embedded in a unique block address on a blockchain.

I didn't watch the video. But obviously, it's two fold as you have said, it could bet trash, but hey if you can make money out of art then there is nothing wrong about it in my opinion.

So we can't really deny that NFT is the hype today and everyone is taking advantage of it. This is how crypto though, again, whether you like it or not. And just like any hype before, it will simply die down just saying that's why everyone is into it because it might not last that long so why not make use of it right now.

And if you notice that most expensive nft's are all monkeys? What a co incident. Maybe its a sign that they are a monkey business but if your new into cryptos be sure to start on the bottom or by learning the basics first. NFT's are kinda advanced id say and like you many newbies also start with this, maybe because the publication of nft's are too big now but there is more than nft in cryptos and you can find inexpensive yet legit projects.

So, my advice for you is to stay away on those shady nft's as you can loose huge on them. You as a newbie in this scene, your already in the right place so do not be afraid to ask questions here for the things that you hardly understand.

I think that it is definitely way overhyped, though.

NFTs are here to stay, sure. But definitely not in its current form, and definitely not in the stupid use cases of avatars etc.

Even a lot of these utility NFTs actually have zero utility. NFT gaming is probably the only true utility in the long run, and even that is a bit of a stretch at the current valuations for these things.

Nft is Just trend . Especially for collecting pictures. Most people will lose al lot of money getting stuck with the pictures nft's once hype is over.
We cannot say which Nft will be profitable in future.
Only Gaming and Stacking base Nfts has some value.

Not everything posted on OpenSea is art. Anyone can make their own NFT now and place it on OpenSea, charging a disproportionate price for it. But we can say for sure that everything that is sold at Sotheby's is a work of art. Last year, Sotheby's has already sold several NFT at auction, worth several million dollars. So Sotheby's experts consider some NFT a work of art. Here is a link to one of these messages: https://twitter.com/Sothebys/status/1402996062474760193

This is not the first time we are experiencing something like this when memes tokens began gaining attention, we saw coins with names similar to top memecoins been launched. Same thing happened when Defi was trending. This scammers uses this strategy because it has worked on previous trend. The ape like NFT were among the best selling so other projects decide to ride the hype and make similar project and majority always end up scamming.

NFT is not a monkey or ape business. We have lands as NFT, shirts, cars etc. While the ape is trending now, you can buy other type of NFT as they might get some boost in the future and begin to trend as well but by then you must have gotten enough to be among those that will profit.

I agree with your opinion that NFT is not a business but in my opinion NFT is a piece of art and also part of a development in the application of blockchains in the gaming industry and also much more that can be developed through NFT

I didn't watch the YouTube video, so I won't comment on it, but let me comment on NFTs on general.
To me, NFTs aren't created for the average users of crypto, I say this because I've bought some NFTs on Ethereum blockchain that am not able to sell today due to very high gas cost, I think the best way to feel good with NFTs is not to see them as a way to make profit, if you are in crypto for money, then stick with trading coins and tokens, trading NFTs for profit is absurd, NFTs are art and anyone buying it should buy it for the love of the art and not as a means of making money.

I have also had the same thoughts on what people would do with the pictures that they buy in NFT. Will there ever be a market for them to sell these pictures in the future, because some of those NFTs that are being purchased by a lot of people really don’t make sense to me.

Sometimes I see those who will even buy NFTs of tweets that were made by some celebrities, and I do wonder if these people will be able to benefit from this in the future. If in the future that they decide to sell these NFT of tweets that was made by one public figure, then who in the future would be ready to buy it from them? That’s the same thing with random pictures that are being sold as NFT in the market.

I have heard of one artist who had to close down his online shop because of thieves that kept stealing his artworks and selling them as NFT. It is not easy, and in a situation like this what would you expect the artist to do? It’s not like he would be able to identify all those people who are stealing his art and maybe take action against them.

And also I am not really going to blame the platform that is called Opensea, because it’s not really their fault that people are stealing art works by other artists and using it as NFT. The platform wouldn’t be aware of it, but maybe it would be good if there would be a way to report these people, so that actions will be taken against them.

Even if some NFTs are terrible and they are trying to sell them, this does not mean that this will continue for a long time. The market is young now. beginners can go there. But gradually it will become more strict in the selection of those people who sell

I would say both because nowadays there are some frauds as well that making NFT's just to make money from other investors that who believes that NFT'S is an digital art where they can make money in the future.. Most projects is following the trends to be honest so i wouldn't be surprised if someday there are bunch of scammers when it comes NFT project because that's very common now and popular..

Everything could really be monetize even how dumb it would really be looking and even myself cant really believed that those certain digital arts could really go up much in value which is  really that unbelievable

on the first place and its true that everything could really be driven off with some hype on which you couldnt really able to avoid on not to peek since you would really get interested because you could potentially

earn money which is our main goal or target on why we are here on this market which is on that very common goal.So if you dont like to miss out the train then you wouldnt really be having no choice but
to deal with it even if you dont like it if you are really aiming on making profits.

Those are thieves are thinking their can sell the popular NFT in the opensea but the unique code already recorded by the blockchain and this can't be imitated like when those thieves as stealing NFT from the open sea by copy and  pasting it. I hope that there will be a new system to prevent these theves from stealing the assets on opensea.

Too much people are SCing others NFT on opensea. I hope that something like verification totally needed in this case.


Totally agreed with it.

It's still art in its way. It's just digital. Of course, this is not much art as painting, but some collectors layout a lot of money. It is like a digital property that only you own. So maybe this hype will pass soon.

It really depends on who does what, if it's done by a company or a real artist, it can cost a lot of money. And if a schoolboy does it and it brings him hundreds of thousands of dollars, then the question arises whether those who are doing something in this industry are overestimated. After all, in the world artistic culture there were hundreds of thousands of people who, knowing how to make works of art during their lifetime, did not earn even a comfortable existence.

Actually, the idea and basic concept of NFTs is very interesting and promising for all elements.
But I don't know right now, there are much more shit NFTs that are traded in some platforms, as also I saw in OpenSea platform. there are some nonsense pictures or NFTs that are tarded. Some stupid people also sell their ID National as NFT. I am really surprised why NFT is being like this. I like NFT ideas and also some of the arts of NFT projects, but not all. Some are nonsense and really shit to be traded.
Moreover, there is also some info about fake NFT that is also tradable, so we must be exactly careful about that

I agree with that, especially those that are obviously copied from already existing pictures while some digital painting apps were used to make them look like painted NFTs. I believe as time evolves in the NFT world people holding all of this copy and past NFTs will certainly lose out, I am not really into NFTs myself though.