What do you guys think about NFTs?

[_MrTuyul404]

NFT stands for non-fungible tokens. In economics, an exchangeable asset is something with units that can be easily exchanged
NFTs are the "only" assets in the digital world that can be bought and sold like any other property, but they have no tangible form. Digital tokens can be thought of as certificates of ownership for virtual or physical assets.
i am also have several NFT collections from Pancakeswap and Binance, I love their Art

[beerlover]

NFTS in my opinion is a profitable business model for developers but for traders it will not be able to provide much profit because not all platforms can accept payments using NFTS, NFTS is more used for collection so it doesn't have a high demand so I think be careful when you want put your money in such a platform model.

Some NFT project have a strong demand in the market and right now NFT games are doing great in the market and you can actually trade them because it's value is also volatile and moving as well. For me NFTs are on a better position now especially the games not because I do play on some NFT platform but simply because their technology introduces new things here, and that's where the hype is right now.

That "game" thing really turned NFT into something much bigger. Back in the day it was just some pictures being sold and even then it worth a lot of money and nobody really made any sense in that. There was one NFT that went for nearly 70 million dollars if I am not wrong. I can guarantee you that if that guy wanted to sell it right now, he can't get half of that amount these days, don't care whose paintings it was and why it was that much but I know it won't worth that much these days.

However games made sense, because in the gaming world you could make NFT and then you could turn around and do something much bigger with it, play with it, win with it, earn with it basically you can use your NFT for something in return of buying it. This way on contrary to what it was just few months ago when you just bought pictures, nowadays you buy some utility with it.

[Dread Pirate Roberts]

^^ Like that title says. I want to know more about what you guys in Altcoin Discussion think about NFTs?

Do you have any overall thoughts or even any NFT projects you like? lmk

Similiarty NFT are like ICO and im not fan of it. NFT are great for many artist to get more extra income and appreciation for what they make such picture . painting . video . etc but personally i dont really think investing in some NFT stuff will make a good profit. I might be wrong but i just still dont really trust concept like that.

[cryp24x]

^^ Like that title says. I want to know more about what you guys in Altcoin Discussion think about NFTs?

Do you have any overall thoughts or even any NFT projects you like? lmk

As I look at the present time now, Axie Infinity was one of the Blockchain gaming under by NFT who is now popular so far.
Though, but the thing problem for me is that the price start up is too expensive. And the transaction fee for ETH was too high
as well in the market.

[btcltcdigger]

^^ Like that title says. I want to know more about what you guys in Altcoin Discussion think about NFTs?

Do you have any overall thoughts or even any NFT projects you like? lmk

Well IMO, NFT's have a certain potential. But with anything in the world, people will use and abuse that potential in order to make a quick buck.
What was supposed to represent digital form of physical art, is now a space filled with people minting all kinds of shit in hopes to get rich

[Woodie]

Art has never been my area of interest which automatically puts  NFTs off my bucket list. Am certain there is some good in them but tbh these just ain't for me.

And because this is something that came like the crypto kitties game this kind of reminds of it and there is some similarities too, so am staying far away as possible.

[ZAINmalik75]

Basically NFT stand for Non Fungible Token. When I hear first word about nft was ( Cyber Punk) the best ever project of nft on ethereum blockchain .
After that I start searching about nft and after that I got too much kwnoledge about nft.
Now nft is most popular topic in crypto. Many nft are sold too expensive so nft has a huge value in market and everyone want to own awesome nft

[wmaurik]

Art has never been my area of interest which automatically puts  NFTs off my bucket list. Am certain there is some good in them but tbh these just ain't for me.

And because this is something that came like the crypto kitties game this kind of reminds of it and there is some similarities too, so am staying far away as possible.

The field of art is only liked by people who really love art, so there are some people who don't like NFT because it was born for those who have an art mind only, and I think that's great for the variety of options in the crypto space too.

[pinoycash]

Art has never been my area of interest which automatically puts  NFTs off my bucket list. Am certain there is some good in them but tbh these just ain't for me.

And because this is something that came like the crypto kitties game this kind of reminds of it and there is some similarities too, so am staying far away as possible.

The field of art is only liked by people who really love art, so there are some people who don't like NFT because it was born for those who have an art mind only, and I think that's great for the variety of options in the crypto space too.

I dont think even the art lover will appreciate a digital arts, majority of people invest in NFT because they have a monetary value or return of investment. But for being an art alone, its not enough reason to buy one.

[slaman29]

I guess you're referring to the use of NFT in the creative industry. So music, art, audio, video, etc? I think it's okay. And I do read of many artists who continue to face the problem of exposure today and NFT in crypto/blockchain perhaps gives them just one more avenue for exposure  even if they may never sell anything. The point for most artists is to get noticed that one important time by that one significant person.

But to achieve 90% of the crap the NFT white papers are peddling around? Nah.

[jatin729]

NFTs are quite new to large percentage of people.
People are getting to know about it slowly, But it is one of the use case of storing collectables items within the blockchain industry. Many gaming company try to come up with NFTs gaming platform. I personally think that NFTs can give new boom to the entire blockchain ecosystem.

[husdemba]

The NFT craze has slowed down a bit. Even if there are a few solid projects, in general I think NFTs are malicious. NFT is a good option as a money laundering method. I think you should be careful when entering an NFT and not think long term 

[sana54210]

I like to use Diablo for an example. Image every item is an NFT on the blockchain and will be traded/sold as such. Would be amazing.
Another upcoming example is Black Eye Galaxy. Black Eye Galaxy is a decentralized NFT token. Players buy planets, starships and space stations. All as NFTs. Each planet will have it's own resources which can then be mined by staking. After a new planet is discovered it will be sold on the marketplace. The person that originally found it earns 40% of the revenue while another 10% goes to his civilization. If you discover planets with inhabitants, you can use them to create civilizations and launch your own currency.

These type of stuff where people can use their NFT are the reason why NFT world is standing still and doing fine, because it gives people an incentive to spend their money to buy NFT. Back in the old days buying pictures with crypto made zero sense to me and that is long gone, that is not used anymore and if we didn't see this improvement of using your NFT for something came out then NFT would have been dead already, nobody would have cared about any NFT.

However thanks to these new things, people are still using NFT because who wouldn't want to buy planets, have spaceships and other stuff? There are other games, there are gladiatoral games, there are have your own tribe type of games, basically many games and it is definitely something very fun to do. I just can't understand people who jump in right away without research though, the rug pull/scam of NFT world is still around so everyone should be careful.

[leetcoiner]

I think NTF is a great expansion of cryptocurrency opportunities especially for those who are engaged in creative activities.
Now artists, artists, musicians can digitally tokenize their intellectual property, this is the development of technology and mass adoption.

[Questat]

I think NTF is a great expansion of cryptocurrency opportunities especially for those who are engaged in creative activities.
Now artists, artists, musicians can digitally tokenize their intellectual property, this is the development of technology and mass adoption.

Well, it is a part of the crypto development, ICO, IEO, Defi, NFT, plus meme coins. And what I can say with these new sets of crypto projects, they are helping more to have a better experience and market transparency which I believe that could encourage people to adopt the market. However, as the development continues, never expect that NFT will stay long, they will soon say goodbye and another set of projects had come again.

[AmoreJaz]

Personally, in my opinion, NFTs are a program that cannot make a profit because what is being sold can only be used for collection and cannot be used for transactions in all exchanges, I have been in the world of NFTs and only losses that I get.

maybe you venture in NFT projects that are not really valuable in the market. because if you got lucky, the NFT you bought will fetch high price in the market. that is, if you bought a real valuable NFT item. this is why, buying just any NFT in the market is not advisable. you need to assess the potential value of it in the next years to come. so just like you said, it is like a collection, so you are collecting valuable NFTs. but how can you tell if it will be valuable in the market? check who is selling it - is he a known artist or a never-heard one. of course, the chance of profiting is if you buy from already well-known artist. so yeah, there are factors to consider before buying one. otherwise, it will be a lost cause from your end.

[Maslate]

Personally, in my opinion, NFTs are a program that cannot make a profit because what is being sold can only be used for collection and cannot be used for transactions in all exchanges, I have been in the world of NFTs and only losses that I get.

maybe you venture in NFT projects that are not really valuable in the market. because if you got lucky, the NFT you bought will fetch high price in the market. that is, if you bought a real valuable NFT item. this is why, buying just any NFT in the market is not advisable. you need to assess the potential value of it in the next years to come. so just like you said, it is like a collection, so you are collecting valuable NFTs. but how can you tell if it will be valuable in the market? check who is selling it - is he a known artist or a never-heard one. of course, the chance of profiting is if you buy from already well-known artist. so yeah, there are factors to consider before buying one. otherwise, it will be a lost cause from your end.

If we can never trade your collections, it is a big loss for us and that is something hard because we can't assure that someone will buy for it.
If someone thinks it is profitable, that gonna be a big lie honestly. I hope I was wrong but seeing the situation, I mean, not all love to collect those artworks.
If ever NFT hits its peak in the market, that gonna be a short stay for sure. It suddenly just gone after.

[wmaurik]

I dont think even the art lover will appreciate a digital arts, majority of people invest in NFT because they have a monetary value or return of investment. But for being an art alone, its not enough reason to buy one.

Yes, the point is that everyone who likes something is to get profit either through returns or through others, not just relying on concepts such as art or others, but more on other benefits.

[wxa7115]

^^ Like that title says. I want to know more about what you guys in Altcoin Discussion think about NFTs?

Do you have any overall thoughts or even any NFT projects you like? lmk

I could see NFTs having a future, however the first thing that people need to remember is that this is not in fact new, NFTs have existed for a very long time and it was not until the hype happened during this year in which they truly became popular.

The second issue is that currently many NFTs are scams and nothing more, the creators of those coins sell you something but you do not actually have the rights to it, basically you are just paying for a certificate that says that you own it without the rights that come with it, this reminds me of a business model in which people pay for stars to be named after them, it is funny but since you do not have rights to it you just paid hundreds of dollars for something you cannot resell and do not truly own.

[WNTRjon]

The reality is that most people have no idea what an NFT is.

That is going to change, soon.

Most people think NFT means digital art. Digital art can be an NFT, but NFTs can be so much more.

I am bullish on NFTs.