Reasons why NFTs projects are not making wave-like ICOs

[Questat]

Interesting...
Well, you know part of what attracted alot of people to ICO was the "attractive" and "useful" projects that were promoted. Many people invested because they believed that useful things are being built or would be built.   Today, things that make little to no sense are promoted as NFTs and there are those that sold for alot of money. Guess people are realizing they need to focus on the use cases more and not just the money.  

Now that people had realized the importance of being usable in the market rather than the name, NFT's become not their interest. As I can see on the market now, the more projects created the more they become useless, just like how these NFTs projects will end. Maybe these NFT games can manage to survive but I don't think the others will help themselves to recover, well, they don't as to see. 

[cliber]

I read over the news about John Cena NFT only selling 30 tokens in its public sale an event that prompted the star wrestler to withdraw his support for the project and putting it on gold, and from my personal experience, Ill the NFTs tokens I bought have not yielded any profits all stock in the sale stage for over 4 months now, unlike the ICO era in 2017 where investors making 800x profits just within one month of investment. What seems to have gone wrong in the NFT market within this short period of its existence?

When we compare 2020/2021 with the conditions in 2017, there is a huge difference and it all depends on market conditions, not on the NFT program itself. If you browse, there are so many successful projects from NFT and the NFT program is a new trend nowadays, even public figures, artists have joined the NFT project to invest.

[jaberwock]

In my opinion, the first NFT utility token that aims to avoid the ICO boom. That is, NFTs exist to raise funds, but they are not the project itself; rather, they are tokens issued by the project, each of which corresponds to a right or share in the project it represents.

Depending on the NFT, this NFT lasts you buy and sell online at several shops that provide this, such as the possibility that your NFT Token may not necessarily be bought, it may not necessarily go down, and the price may continue to rise. So, in my view, NFT can make a long-term investment but you have to really choose the NFT, and if it's a limited edition the price can be very expensive.

People consider them as art that has a very limited amount and that is why they are valuable. In the art world there are things that are very valuable that you can't really express it with data. Why Mona lisa worths so much money is not something you can explain with data, it is only explained because people care for it and want it and given the chance they would pay a lot for it, that is the only reason. Not like it is some iphone that a business sells for a price to make a profit.

This is why I believe that we should definitely consider the NFT world by the same light as well. It could be 10x higher price than what you paid for it, or it could be 10% of what you paid for it, it could be Mona lisa, or it could be kid drawing, we have no idea how much they "should" worth, only what people are willing to pay for it and that makes them valuable like that.

[harizen]

I read over the news about John Cena NFT only selling 30 tokens in its public sale an event that prompted the star wrestler to withdraw his support for the project and putting it on gold, and from my personal experience, Ill the NFTs tokens I bought have not yielded any profits all stock in the sale stage for over 4 months now, unlike the ICO era in 2017 where investors making 800x profits just within one month of investment. What seems to have gone wrong in the NFT market within this short period of its existence?

NFT based on entertainment and products like WWE, Godzilla, Coca-Cola, band group, etc. is more of collection stuff rather than an investment.

You should choose NFT based projects where there's a real use case and can be used for a profit-generating scheme. The best example is NFT games wherein it's necessary to buy their respective NFT as it can be used in-game.

Just enhanced your DYOR on choosing the right NFT project to invest.

[pjwaffle]

The point here is that in no case did an ICO bring in 800x returns. If true as that it is exceptions to be Absolute, because even then a lot of ICOs lost money. Definitely changed compared to 2017 is the number of projects appearing and opening sales week. It's not natural that only 1/10 of them actually have an operating system. But it's hard to tell if you just compare it with the ICO engine you represented and the NFT you updated the master. subject. And to compare those two, I can hardly find any similarities since both cases have different "values". The various features and benefits of NFT value are considered works as rare and there are large donations of NFTs.

[SlimShadyMmp]

Depending on how John Cena NFTs are advertised and the utility behind them Seriously even though Most NFTs are just super hyped dont expect Sony or marvel NFT to make high value unless they have utility or hey special edition of a comic book or gold version of imprint What I mean is they need to have something to back them not just their pure hype People are curious about those things and it will take some time to assimilate into people minds and them it all over For now is only in cryptoland

[kaseygriffin]

That is the difference between the different stages, I am looking at the problem here is to approach the trends and look for profits.
When the ICO period boomed, we all saw the ambiguity about it only interested in profits rather than understanding the essence. With NFT, it is a more applicable and precise product, when people have knowledge of the market, such solutions will be evaluated more carefully. However, I still just find them to be superfluous, and it's a space reserved for people who like new trends and exploit it.

The experienced from the last ICO boom brings more wise investors to assess deeper before jumping into investment,
You said it right, way back investors are there to take advantage of opportunities that they will going to get when
investing first, then here comes scammers who also take place.
With NFT, more research has been done before finally ebing convince that this kind of system will be used as good
way of investment, the value of NFT is being created by people who knows and willing to participate.

Aside from the experience, I also think people are looking at it from a different perspective, as I see at this stage the NFT does a better job of attracting people to the market. We see huge amounts of money being poured into NFT products, and it is only new projects that develop in this direction that receive great attention. But that doesn't mean it's an exaggeration when there are so many products that have also been very successful.

[dothebeats]

NFTs are overly-hyped with little to no value in them that almost everyone can create one and market it as something 'unique' or 'expensive' even though it's just a random ass memorabilia stamped in the blockchain.

ICOs gained so much exposure and success back when they're the thing because coins back then offered more promising returns to a wider demographic, even if the coin fails to deliver anything of value to the market. On the other hand, most NFTs only target the uber-rich, and the chances of making a sale is close to nil. It only boomed on its infancy, and the hype later died after people realized what NFTs really are in essence.

Both aimed to make quick bucks, but ICOs helped other people too and not just creators to make money when they're the thing.

[southerngentuk]

ICOs and NFTs both show hype about their nature.

The ICO has also brought its own successes, but what we've seen before is a lot of the damn stuff that comes with it.

And the NFT trend is no different in terms of hype, but the difference as experience is enhanced we can judge for ourselves how much potential or risk it creates.

And not everyone is stupid enough to lose money on silly trends.

[yehestielsiburian]

There is nothing wrong. You are just on the wrong side of NFT projects. Have you considered that?
I have made a good sum of money buying NFT game tokens and I can say it had been a good ride. As of now, I am trying to circulate that profit to another NFT or a DeFi maybe and who knows if I get lucky again.
It was just the same as the ICO, you do your research and you will be paid well enough with some added luck.

Can i ask, how you can earn money from NFT?
Because a lot of what I see, a lot of projects that make NFT with bullshit. They make NFT to do Staking, even though it can be done with Tokens. In my opinion NFT is not worth the investment, only Hit N Run is Okay. But this is my opinion. CMIIW

[DapanasFruit]

NFT in general is here to stay but with the way things are happening right now when anyone popular or not can actually be selling his/her own NFTs...there will come a time when the whole market will be shaken and only those that are really valuable will stay. I don't still fully understand how an obscure image of a rock can be commanding high price and yet a beautifully made painting will be performing mediocrely - of course the answer can be because of hype and hype will not last that long. Soon people will be asking the use=cases of an NFT or what will they be getting out of it aside from waiting for it to appreciate.

[acsalles]

I have always thought that ICOs are the most traditional way of raising capital for long-term projects. As for NFTs, although it generates high profits, it is not sustainable

[makishart]

I have always thought that ICOs are the most traditional way of raising capital for long-term projects. As for NFTs, although it generates high profits, it is not sustainable

How high profit that will be generated on NFT depend on the numerous factors. You cna't generalize if that would be sustainable or not because there are lots of things affecting this just like

1. How good the development progress
2. Liquidity and demand in the market
3. Partnership and cooperation
4. Community
5. Market trend and hype

That means if NFT will have good ROI once it can get all of things that can push the hype and the price. NFT project was also doing ICO to raise the funds.
How big ROI depends on how big the community was hyping it. No hype = no gain. People should not expect good ROI from the project that doesn't big hype.

[TheUltraElite]

What seems to have gone wrong in the NFT market within this short period of its existence?

You would have understood this answer a long time back if you had witnessed the downfall of altcoins after they started or ICOs after they started. All these are hype-machined buzz that do not have any long term value or use till date and they all try to compete with what bitcoin has been able to achieve. While I appreciate new development and methods to incorporate decentralized financing, in reality it is all part of a hype based dream, which we all know deep down.

The point is that there are people who make money using the hype to generate and raise the price of useless shitcoins. While newbies fall into the trap hoping to get-rich-quick and therefore these type of quasi-illegal things come up.

So in a way, this was bound to happen. If you are still have some NFTs and you are having no market to sell them, good luck to you. You will probably never be able to for a long time.

[slaman29]

I didn't see this news until now actually. Didn't even know Cena had his own NFTs but it's the same thing all along and should have been expected. If all the stars come and sell stuff that actually isn't even rare, why should anyone buy them other than for speculation?

NFT concept actually to be sustainable relies on real interest, from collectors. Not token speculators (which is what NFT buyers truly are in the end, like it or not).

[Luffygroove]

It's probably more suitable to mention that your explanation referred to the digital arts, no?. NFTs that only have an intrinsic value and so difficult to set the price (because it depends on people's personal appraisal). Unlike some NFTs in-game that are valuable because they have utility and are being used in their circumstances, digital arts are the same as art pieces in real life. It's valuable as decoration without further utility, it has value because people think it's valuable. Not all people are interested in the arts, but most people are interested in money (that's why ICO was more popular).

[inanilujimi]

Believe me, maybe you have the wrong nft, crypto in 2017 where each ico provides a large profit does not last long considering the many cases of fraud against ico made, while nft offers something more useful in the crypto market with its uniqueness.

[XUR_TIP]

Well when something tend to  be on realistic side it takes time to get attracted to, how many ICO projects are still alive today since 2017? Many are dead and some have no trading volume again but NFT just works better because the realistic is without useful utilities a project won't live long, NFT works better than ICO

[zaim7413]

Well when something tend to  be on realistic side it takes time to get attracted to, how many ICO projects are still alive today since 2017? Many are dead and some have no trading volume again but NFT just works better because the realistic is without useful utilities a project won't live long, NFT works better than ICO

At the same time in 2017 many people said that the ICO would continue to advance and live, but now everything has turned upside down, so almost the same thing can happen to NFT in the future when there is a new trend that can break NFT, although it doesn't exist at the moment

[TheUltraElite]

NTF coins are like frogs in the rainy season,

Excellent simile there. Truely the hype around NFT is not logical. Not so many people are actually collecting them, they are in it for the money. Collectible things are usually physical and not some digital thing. I at least prefer to be able to touch my collected artwork or trading card before boasting about it.

It will gradually die out just like any other hype-machined vaporware - some members of this forum may not like my sentiment but the truth should be accepted and they all know that.

The craze surrounding these things is the reason why it sells, no intrinsic value, no utility and no use. How do you expect to generate a demand for such objects? Pure speculation, nothing more.