How many in this community are into NFT?

[Digital_Lord]

I love NFT and holding nfts for future trend. If NFT trend work i will definitely sell in high price.
 Currently NFT is looking just art like btc which was low value in start and now trading above 45k.
In future Solono,Luna and Eth base NFT will give me big profit.

[pakhitheboss]

I love NFT and holding nfts for future trend. If NFT trend work i will definitely sell in high price.
 Currently NFT is looking just art like btc which was low value in start and now trading above 45k.
In future Solono,Luna and Eth base NFT will give me big profit.

What I like most about NFT is that it is not affected by the cryptocurrency market. The current crypto market is in bear mode but the NFT market is still stable and some projects are still pumping. Like any other kind of crypto scam, there are scam projects in this domain too therefore do your research before investing.

[webtricks]

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What I like most about NFT is that it is not affected by the cryptocurrency market. The current crypto market is in bear mode but the NFT market is still stable and some projects are still pumping. Like any other kind of crypto scam, there are scam projects in this domain too therefore do your research before investing.

I am following NFT market from half a year and noticed contrary to what you experienced. In my opinion, NFTs are highly correlated with the crypto price movements. Ethereum and Solana are the two most popular NFT ecosystems and whenever their prices decrease, people tend to liquidate their NFTs too like any other altcoin. Here is the price comparison of Aurory (one of the best Solana projects) in SOL with the SOL price in USD.



You will notice that the first dump in Aurory price happened when SOL went down by 15% on 30th October, second dump came in the last week of Nov when SOL broke by 20%. The third and most significant dump happened near 8th Dec when SOL prices went downhill with the rest of the crypto market.

However, I agree that the recent trend is contradictory. NFT prices are going in the opposite direction to the cryptos since last week. But it's mostly due to the re-surge of Web 3.0 hype in 2022. NFT market volume has increased 15x since 2nd January. If this trend continues, we may see NFT market trend detaching from the primary crypto market trend but we would need much more than PFPs and shitty games from the NFT projects for that to happen.

[pakhitheboss]

~~

What I like most about NFT is that it is not affected by the cryptocurrency market. The current crypto market is in bear mode but the NFT market is still stable and some projects are still pumping. Like any other kind of crypto scam, there are scam projects in this domain too therefore do your research before investing.

I am following NFT market from half a year and noticed contrary to what you experienced. In my opinion, NFTs are highly correlated with the crypto price movements. Ethereum and Solana are the two most popular NFT ecosystems and whenever their prices decrease, people tend to liquidate their NFTs too like any other altcoin. Here is the price comparison of Aurory (one of the best Solana projects) in SOL with the SOL price in USD.



You will notice that the first dump in Aurory price happened when SOL went down by 15% on 30th October, second dump came in the last week of Nov when SOL broke by 20%. The third and most significant dump happened near 8th Dec when SOL prices went downhill with the rest of the crypto market.

However, I agree that the recent trend is contradictory. NFT prices are going in the opposite direction to the cryptos since last week. But it's mostly due to the re-surge of Web 3.0 hype in 2022. NFT market volume has increased 15x since 2nd January. If this trend continues, we may see NFT market trend detaching from the primary crypto market trend but we would need much more than PFPs and shitty games from the NFT projects for that to happen.

I might have forgotten to mention it depends on projects too. There are a few projects that I have been monitoring from day 1 of their inception and I see the price going up contrary to the crypto market. You should check these two projects Monaco planet once and sandbox. Also, do check the listing price and the current price especially of Monaco as it was listed a few months ago on OS.
 

[pakhitheboss]

I think most of the crypto holder also you can tell altcoin holder know about the nft now.  Nft is not only in trend also it is holding a huge amount of marketcap now. I am also with lots of nft now. And i think everyone in this community know about the nft but there is some crypto holder who not focus on nft they just focus on trading its on future or spot.

Good to hear that you are into NFT's. Recent article published on mainstream media suggest that the hype of NFT is over. You can read that article by checking the link below.

Code:

 https://www.google.com/amp/s/www.cnbctv18.com/cryptocurrency/nft-hype-cools-off-market-volumes-hit-lowest-levels-since-july-12754562.htm/amp 

I still think the hype will remain as long as people are willing to buy JPG's which are really important. I do not think shit projects will gain any momentum from now on.

[PhoenixZephyrus]

I feel like I don't agree with most of the sentiments in this thread. I don't think NFTs are going anywhere. A lot of the tech community is already pretty against it I feel. There are also pretty frequent scams with NFTs, that I think damage their reputation further - considering they already do not hold much solid ground in the minds of tech enthusiasts. Yes, I agree that there are scams with crypto too, but NFTs have been plagued with them right from their conception, and there's just not much to build upon that would attract tech enthusiasts to NFTs.

Stuff like this : https://www.theverge.com/2022/1/21/22895126/ozzy-osbourne-nft-scam-cryptobatz-hack-ethereum

This really harms their credibility. Also, it just seems like a hacky way for a lot of influencers to earn quite a decent sum of money pretty fast. I think the following link also summarizes the current sentiment about NFTs among tech enthusiasts at the moment: https://www.theverge.com/2021/12/20/22846654/brian-eno-nft-crypto-skeptical-morozov-suckers

I can't say NFTs arent popular, they definitely are, but what is the user buying exactly? Most of it isnt unique, easily pirated, its mostly just an image. I don't think there's real value there, yet people are buying it. This however is mostly people who aren't very familiar with tech, and thus is being exploited by influencers for their benefit. There's no real value in NFTs - they aren't crypto definitely.

[libert19]

I feel like I don't agree with most of the sentiments in this thread. I don't think NFTs are going anywhere. A lot of the tech community is already pretty against it I feel. There are also pretty frequent scams with NFTs, that I think damage their reputation further - considering they already do not hold much solid ground in the minds of tech enthusiasts. Yes, I agree that there are scams with crypto too, but NFTs have been plagued with them right from their conception, and there's just not much to build upon that would attract tech enthusiasts to NFTs.

Stuff like this : https://www.theverge.com/2022/1/21/22895126/ozzy-osbourne-nft-scam-cryptobatz-hack-ethereum

This really harms their credibility. Also, it just seems like a hacky way for a lot of influencers to earn quite a decent sum of money pretty fast. I think the following link also summarizes the current sentiment about NFTs among tech enthusiasts at the moment: https://www.theverge.com/2021/12/20/22846654/brian-eno-nft-crypto-skeptical-morozov-suckers

I can't say NFTs arent popular, they definitely are, but what is the user buying exactly? Most of it isnt unique, easily pirated, its mostly just an image. I don't think there's real value there, yet people are buying it. This however is mostly people who aren't very familiar with tech, and thus is being exploited by influencers for their benefit. There's no real value in NFTs - they aren't crypto definitely.

I disagree with 'tech community' being against it, every project I come across these days have included nfts in some way or other.

If ethereum were to solve it's scalability problem, we would see even more participation.

[PhoenixZephyrus]

I disagree with 'tech community' being against it, every project I come across these days have included nfts in some way or other.

If ethereum were to solve it's scalability problem, we would see even more participation.

I mean yeah most projects that aim to get short term profits would be into NFTs right? But my point is that most technical shows I've watched (or even stuff like the WAN show) explains how it doesn't really have much of a "value". It can be minted again, and there's little point in "exclusivity" or "proof of ownership" argument when the stuff that is in questions doesnt really have a physical existence.

The way that NFTs are being associated with images, is basically useless because getting that image is basically as simple as right clicking and hitting "Save as". The technology itself isn't worthless - just the current most popular implementation regarding NFT art is.

You can copy a digital file as many times as you want, including the art that’s included with an NFT.
And sure, the proof of ownership that exists on the blockchain can't be copied. But for just any piece of art, does that really carry any value? And it doesnt make it more exclusive, if other people also have that image, it doesnt even remotely compare to art collecting like most people hope it will. With digital art, a copy is literally as good as the original.

[JoyMarsha]

Honestly, NFT is just hyped unnecessarily. Understanding the fact is just a paint or image project makes it more terrible not to have a proper use case. The last thing I would ever think of is investing in NFT. I don't see NFT trading more than next year and it will all diminish leaving her investors to perils

[Frengki_cisco]

In my point of view a common man who is a good on canvas such as a wallboard painter cannot earn through NFT. He will still struggle to make his or her ends meet.

What do you guys think?

From my point of view, especially India and Pakistan, NFT has become an active role in crypto circles, I saw it on Facebook and Twitter, I might rate one hundred percent of crypto users in India 70% like NFT.