Is the Nft hype-cyvle is over?

[7788bitcoin]

We cannot really conclude that the NFT hype cycle is over yet, but i am sure it would come to an end soon. Because all the several hype in the crypto market always have an end. Check out the likes of ICO, IEO, Defi, etc. They all started with huge hype, but the hype died off later.

We will see whether these trend will continue when the bear market returns, i am really hyped seeing the market right now and the different NFT some of these projects launches, but what happens when there is no use case. NFT is a different market altogether than ICO, IEO and DEFI, but the problem i see in the long term is that what can they do with the purchased ones as some of these NFT are sold at very high rates and what will be the resale value and what if no one gets them when you wants to sell them.

So these are the questions that are in my mind. If there is a use case then it is a different story but right now, i am curious to see how long the hype will continue.

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[Jasper HODL]

The popularity of NFT decreases with the prices of Bitcoin and Ethereum. Perhaps it is because ordinary users are afraid that their NFT will depreciate due to the depreciation of ETH. I think the NFT wave is not over yet. With the arrival of the bull market in the second half of the year, the NFT wave will re-emerge.

[sirminesalot]

We cannot really conclude that the NFT hype cycle is over yet, but i am sure it would come to an end soon. Because all the several hype in the crypto market always have an end. Check out the likes of ICO, IEO, Defi, etc. They all started with huge hype, but the hype died off later.

Actualy hype projects is over not because there are another project type is coming but if something is hype, there will be a lot of scammers coming with the same type of project and make the system looks bad.
There are a lot of scamming NFT project right now which make people wrong to invest and lose money, and those people will said NFT is no longer a good project even though they made their own mistakes.
NFT is really fit for entertainment crypto space, such as games. Games with NFT is really promising and i'm sure it will survive for the upcoming years.

[matchi2011]

For me daily up and down trading volume in the NFT market is just a common thing. You can't pinpoint that as a clue to the end of the NFT trend. Now investors won't jump blindly into anything just because it contains the word NFT. There is no infinite amount of money, every market no matter how big has a size and it seems to me that the limit of what it can be achieved with NFTs, this is bound to happen with this market, even if i think that it has some potential right now is flooded with scammers selling all sorts of things that are never worth anything, it makes me feel so boring anyway we should share and warn new entrants because scam projects will make them lose money

Investors are more wiser now, they are not the same anymore where they are just blindly invest with projects that attached NFT on it.

They are now more furios as they understand the possibilities that scammers are everywhere, it's no longer hot
but not really ended there. NFT still gaining interest but they are not in the same level when it's first being intrduce.

[yazher]

They already know that it is only fantasy that they will earn through hodling those new NFT items sadly they turned out worst than shitcoins where you don't get your capital back if you spend buying it when the game already launches because mostly after 1-2 weeks the game will change its course and will become no longer profitable. You can check the top 10 NFT games today and see the result you won't find any of them as they used to be when they launched except for a few games which are not profitable today.

[Sayeds56]

Just the usual crypto market that it goes up and down. The hype may be over for some but as long as there are still people buying NFTs, it won't be over.
I guess that it will stay but not as many as we've seen before and only the best will.

True, NFT hype is not over and as a matter of fact everyday new projects are being launched with new features specially for sports games NFTs. The month of September was bad for overall crypto market so is the case of NFTs. This sector will show its real color in coming months and years when new use cases like Licenses/Certification, Fashion and staking/farming  will be developed to make this market more attractive for long term investors.

[michellee]

If you see the popularity of NFT hype reduced, people try to search for the other trends because a new trend will change after NFT. The NFT hype can not stay forever in the crypto world and will replace other new things. But NFT will still be part of the crypto like the other previous project. We do not know what is happening to NFT now, but we need to be ready if the NFT trend is really over and prepare for the next trend.

[trauchot]

The NFT sphere is still very popular and I think that the NFT sphere has not yet fully shown itself and therefore I think that in the near future the NFT sphere will still show itself, I also constantly see various big players buy various NFTs for very big money and I think that they are doing it for some purpose, and in general I constantly see new cryptocurrency companies that want to develop in the NFT area, this also says something, so it's worth waiting for a while when the cryptocurrency market will start to grow and then NFT sphere will begin to grow too just as quickly and possibly will reach new heights, so we need to be patient, but I think we will soon get what we are waiting for.

[the ghabbar]

I've been following crypto this recent days and I am surprised about the amazing hype of NFTs, some of the NFTs are selling for unimaginable amounts of money, and many have become millionaire because they are being early or by being part of the minting process.

However, September has not been as wild.

According to Alex Thorn, from Galaxy Digital, NFTs daily trading volume has continuously declined every day after the start of September. What does this all means? Is the NFTs hype- cycle is over?

That's the condition that NFT continues to experience, there are two projects that people often talk about about NFT, Games and Artwork, the NFT Hype cycle is decreasing in my opinion in terms of art, while digame is increasing in terms of sales and audiences, which is the problem for NFT at this time only in works. art, because there is no control over the value of the work of art, everyone can create and sell it openly, so the work of art is only valuable in the beginning, for now the work of art is increasingly less valuable.

[Ccexicocartel]

The hype cycle is definitely winding down. What we’re going to see in the next few months will be new use cases for nfts (like what 4K is doing with physically-backed nfts)

[Silberman]

We cannot really conclude that the NFT hype cycle is over yet, but i am sure it would come to an end soon. Because all the several hype in the crypto market always have an end. Check out the likes of ICO, IEO, Defi, etc. They all started with huge hype, but the hype died off later.

And this is what is the problem, if the only thing sustaining the interest in an asset is hype then sooner or later the new money will run out and those holding those NFTs are going to panic when they find out that no new people are coming to the market anymore and that the overpriced digital data they bought and that did not gave them true ownership of the work of art is worth nothing, it is sad but many people are going to lose their whole savings because of this.

[0verseer]

Every cashcow has its time. I liked the idea of NFTs but with too many NFT around in the market right now, people will be more selective about what to chose. There is also mean that NFT has passeed the accumulate phase and will soon have some correction as the trading volume slows down.

[ardentvolcanoes]

Every cashcow has its time. I liked the idea of NFTs but with too many NFT around in the market right now, people will be more selective about what to chose. There is also mean that NFT has passed the accumulate phase and will soon have some correction as the trading volume slows down.

Slowdown as maybe another trend will comes up but so far NFT hypes still ongoing there are many investors and traders who continue to take their part trying to got some decent profits from this space. Some might taking their time and wisely observing which BFT project will provide decent profits, they are not rushing knowing that they are taking a big risk if they failed to choose which asset or NFT to support.

I believe that NFT will continue to keep the bar, especially if there are interesting projects
For example, the $ YCT project allows you to monetize videos in tik tok,

There are bunch of NFT that really hyping and chances still open for people who have that nerve to risk their money.

[imstillthebest]

maybe it is but for me id say that nft hype is still there because everywhere i go i can always see nft projects or ads about nft  .
 like cryptos , nft can also experience a bad times because not all times people have money to buy an nft and sometimes people that are involved in nft sold their nft's for cash .
 september is over and october have started rolling on , let see if what will be the nft's performance this month .

[JeffBrad12]

LOL! Of course it not. No way. Did you hear about MonstersClan? The hype is only beginning.

I guess he didn't but can you take a new project like monsterclan as a way to determine whether the trend was still going on or not? i never heard about this kind of project before but AXS was showing if the hype was still there.

This is not surprising, for this and the future, for example, $ YCT came up with the idea of monetizing TikTok video

Doubt if this will be a successful project. It seems like just another project that created a gimmick. it sounds like another money grabber only.

The popularity of NFT decreases with the prices of Bitcoin and Ethereum.

Bitcoin and ethereum have nothing to do with the popularity of NFT. AXS was increasing a lot due to its utility and it didn't even care about the price of bitcoin and ethereum. NFT project didn't even need to wait for the major coin to be bullish to get the hype. It needs to do something useful.

[OgNasty]

Bitcoin doesn't even have a reliable side chain to host NFTs yet.  The closest thing is Namecoin as a merged mined chain, and even that has a long way to go with development before it's usable by most people. 

We are still very early in the NFT scene.  Sure, 99% of them will probably end up worthless and the ones that are successful (at least the ones currently on the market) will likely end up looking similar to the current state of the CryptoKitties project in a couple years.  I'm pretty sure at some point events will be using NFTs for tickets and that alone is a pretty awesome use case. 

I think of NFTs like shitcoins, only much more limited and actually have something you can see.  I'll take some random image minted on the blockchain over a pile of Safemoon any day.

[Questat]

maybe it is but for me id say that nft hype is still there because everywhere i go i can always see nft projects or ads about nft  .
 like cryptos , nft can also experience a bad times because not all times people have money to buy an nft and sometimes people that are involved in nft sold their nft's for cash .
 september is over and october have started rolling on , let see if what will be the nft's performance this month .

Only just a few of them get into the rally while some are in the downtrend. This means that not all of these projects have the potential and investors leaving them to find another project. This has been happening to ICO projects, some survive from the crisis while the others die. NFT will keep its momentum as long as investors could still make some profit from them but for the moment that they have gone, NFT's will also follow. That is how the crypto market works and only those old and potential coins will stay long-term.

[livingfree]

AXS was increasing a lot due to its utility and it didn't even care about the price of bitcoin and ethereum. NFT project didn't even need to wait for the major coin to be bullish to get the hype. It needs to do something useful.

They're putting a lot into the staking and there's now about $1B+ that are staked in AXS.

It's just the start of it and the Axie devs said that they're just 6% complete and I think that they're delivering their promises and it will going to make the game more enjoyable with these rewards.

[yazher]

That's it because most of them are just like the old school cloud mining where they will make it look like they are legit by giving everyone a decent amount of income when playing their games. But it turned out the be a disaster when you proceed to play just a few more weeks and the result will be frustrating because as you add another investment, you will find that the game will change and it will no longer give the estimation you have before you add another money in it. I've been in the NFT games for a while now so I know what it means to invest and not getting what you expect just like in the crypto blade where most of my money has gone.

[justdimin]

I've been following crypto this recent days and I am surprised about the amazing hype of NFTs, some of the NFTs are selling for unimaginable amounts of money, and many have become millionaire because they are being early or by being part of the minting process.

However, September has not been as wild.

According to Alex Thorn, from Galaxy Digital, NFTs daily trading volume has continuously declined every day after the start of September. What does this all means? Is the NFTs hype- cycle is over?

I wouldn't say it is "over" but it is certainly getting much less attention these days. It depends on what you do with NFT as well, things like Axie will probably keep going for a while, and I am sure eventually we will see some competition, it doesn't make sense to have something that expensive on ETH with huge gas fees all by itself without proper competition, yes there are some others but none of them are huge, just like how Uniswap was huge, pancake became huge as well, I am expecting something cheaper in another blockchain to gain as much users as Axie did. That type of stuff where you can make a profit from NFT could work and could keep on making a profit.

However, what won't make a profit is the pictures. If there is a project that sends you .jpeg and you pay 3 thousand dollars for it, I do not know how you can justify that not being a scam.