Are NFTs overhyped?

[masterrex]

NFTs are everywhere these days. From digital arts and paintings to in-game items, there's an NFT for everyone. Some NFTs are selling for big bucks, even when they don't have any intrinsic value. There's a lot of hype surrounding NFTs lately, where companies are joining the Blockchain bandwagon in order to obtain a piece of the pie. At the end of the day, real use cases for the mainstream world matters. It's not about hype, but rather about usability. I just don't see any real value to NFTs other than serving as purely speculative instruments (like "meme" coins).

Do you think NFTs are overhyped? If not, why? Your input will be greatly appreciated. Thank you.

IMHO, I believe yes most NFT's or Non-fungible tokens are just overhyped that's why the risk is also high while holding those unfamiliar NFT's so just take extra precaution while investing in NFT's just choose the reliable one and avoid those fake and fly by night platform, I believe that those digital collectibles will also go down soon like what happen to others after the hype was cool down.    

[dupee419]

In general, yes, NFTs are overhyped, but when you talk about specific token, some of them are and some of them are underrated, some value of tokens tend to die and some are growing, NFT's are everywhere and expect that majority of these tokens that are being sold is pretty much hype, when investing on NFT, find a token that really seems to be promising as these tokens cost really expensive.

[Abiky]

I do think so.

I think that the majority of the NFT market is really just made up of people who are trying to make a quick buck instead of true technology believers.

The fact that the only value add they bring to the table are collectable art certainly doesn't help either.

That's certainly true, mate. It's all about greed instead of believing on the technology to make our world a better place. As long as there's money to be made, nothing else matters. People are wasting a lot of money buying things without any intrinsic value (especially pictures you can find on the web for free). They'll be "rekt" once everything goes all the way down the drain. In my opinion, the only NFTs that are truly valuable are in-game items and certain digital collectibles. The rest are simply a gamble as they could become worthless in an instant due to loss of interest from people in the mainstream world. This emerging industry has the potential to revolutionize the world of collectibles as we speak. But everything will depend on how many issuers are able to provide quality NFTs to the masses. Regulations are something they'd need to consider before launching a new NFT on a public blockchain network. As long as NFTs have legitimate use cases, they'll last for quite a long time. Just my opinion

[Google+]

Everyone certainly has their own views regarding the NFT project and I personally see that NFT is a project that has potential,
it's true when we use it well of course it will generate profits,
I think NFT is a new project in crypto and hope it will continue to grow

Although many already know about NFT in the crypto space, there are not as many users as other projects in the past because there are still many people who don't know how to use NFT in the crypto space at this time.

[bakasabo]

I think that most of NFT are extremely overhyped. As they are digital art, I would say that they are not quite unique. Anyone can copy them. Copied NFT would just have different address or contract, but the content remains the same. But if you take for example original painting of Leonardo Da Vinci Mona Lisa, no matter how good the copy would be, it will still be just a copy. And it clear why it cost so much. But when I see that digital art, or pixels, or a "1 and 0" cost millions - that is something I cant understand.

[judaspriest]

Everyone certainly has their own views regarding the NFT project and I personally see that NFT is a project that has potential,
it's true when we use it well of course it will generate profits,
I think NFT is a new project in crypto and hope it will continue to grow

Although many already know about NFT in the crypto space, there are not as many users as other projects in the past because there are still many people who don't know how to use NFT in the crypto space at this time.

There are still many who do not really understand about NFT,
can say this NFT is a new project in crypto and I see NFT is one of the potential projects,
I hope it will continue to grow in the future

[LogitechMouse]

Do you think NFTs are overhyped? If not, why? Your input will be greatly appreciated. Thank you.

When the people know that there is money on it, they will do everything just to jump into it and make money thus creating this hype.
When ICO has been the hype, many developers and people earned money from it and many projects too turned into a scam.

Same thing will happen to NFT's. TBH, I just don't understand why in the hell these investors are buying a pixelated JPEG art hoping that they will earn money from it. I mean I'm not good at art but I don't see the real value into most of the NFT arts out there. With regards to NFT gaming, most of them will become rug pulls or a dead game. Though some will become successful, a huge number of NFT games will be dead especially when the bear market comes.

[HodlerKing101]

I wouldn't say that NFTs are overhyped, they have their own use cases both on the collectibles and gaming space. One of the insider VCs I know said that this hype will continue until March next year.

I'm a big buyer in NFTs at OpenSea and collectors like me are into 1 out of 1 rare stuff.

While in gaming, I'm a big fan of card games and projects like $ANRX has that coming up, together with their bootcamp campaign to reward users.

NFTs are just starting, we should see more big companies like Adidas getting into it.

[indah rezqi]

In terms of usability, NFT is indeed a lot of positive. From usage, it will affect the level of sustainability, especially since NFT projects are able to enter into several sectors, from games to music. From this I can tell that NFT is not overly hype.

[tarable]

In terms of usability, NFT is indeed a lot of positive. From usage, it will affect the level of sustainability, especially since NFT projects are able to enter into several sectors, from games to music. From this I can tell that NFT is not overly hype.

In general, this is the case, but from some aspects NFT is entering only the Game side that is able to make it more popular and famous, but it will be very different for next year with some new things to come in the crypto space.

[isaac_clarke22]

~

Not even a lot of people really care about what NFTs are in the end. It is all about the financial benefit that they get from it. People here in my country were all chasing for NFTs right now, scholarships to be specific.
From what you said, what many saw is only that it is "digital collectibles" like in-game currency which has been around for years around the world.

[asyakashi]

I think NFT is a reasonable hype. Nft is also described as a license to mark the ownership of an item. Usually the owner has only one mark of ownership as proof. To sell the property at a high price is good. Unfortunately, many irresponsible people take advantage of this by copyrighting to make nft and then sell it. It's cheating.

[sana54210]

Those digital arts can be their investment in today’s technology. This simply shows how their ownership of that content. We will know the value of that art if we have a heart for it like how others enjoy NFT games but didn’t want to do trading. It’s not overhyped due to it’s broad scope and many projects to coordinate with. If we’re able to buy a good art that can have a value in a near future or a game that will give crazy time for players then the hype will continue to live in NFT.

I would understand if it was simply just regular art that we know and you could have ownership of it in NFT and it was used that way, so you could show your ownership digitally and that would be good for collectors.

If NFT was just something for the art world and painters and art collectors and art investors all used that tech then this could have been one of the best things ever in the world. However the problem is that people are paying millions for monkeys... I mean you can't defend that to me, I do not care what you want to say, just because there is a weird "fun" collection out there and there is a unique one in there, that doesn't make it million dollars worth, it is totally worthless to me.

[Al Qiyamah]

Yes, this can be considered too much hype, there are many items that are made into NFT products and sold at unreasonable prices.And now many big companies are starting to look at the NFT platform and enter into it. Maybe one day there will be a new trend that can shift NFT hype is like the rise of ICOs a few years ago.

[bakasabo]

I think that most of NFT are extremely overhyped. As they are digital art, I would say that they are not quite unique. Anyone can copy them. Copied NFT would just have different address or contract, but the content remains the same. But if you take for example original painting of Leonardo Da Vinci Mona Lisa, no matter how good the copy would be, it will still be just a copy. And it clear why it cost so much. But when I see that digital art, or pixels, or a "1 and 0" cost millions - that is something I cant understand.

Those digital arts can be their investment in today’s technology. This simply shows how their ownership of that content. We will know the value of that art if we have a heart for it like how others enjoy NFT games but didn’t want to do trading. It’s not overhyped due to it’s broad scope and many projects to coordinate with. If we’re able to buy a good art that can have a value in a near future or a game that will give crazy time for players then the hype will continue to live in NFT.

If you say that NFT are not overhyped, then how can you explain why each and every crypto project now tried to issue NFT, offer NFT, trade NFT ? Instead of releasing a product, project issue NFT that offers opportunity to get a product. And it does not fit in my head how a cryptopunk NFT could be sold for $530 millions. This not even an art, this is a just a face made of pixels. Anyone in MS Paint can do that.

[Smitty Werben Man Jensen]

Yes, this can be considered too much hype, there are many items that are made into NFT products and sold at unreasonable prices.And now many big companies are starting to look at the NFT platform and enter into it. Maybe one day there will be a new trend that can shift NFT hype is like the rise of ICOs a few years ago.

Yes, I often find ordinary picture products but are sold at a high price and the price doesn't seem to match the picture,
even so NFT is used by many people to make a profit,
I hope so too and we'll see in the future

[wissy]

There is no doubt that NFTs are over inflated right now and are, along side MEME tokens, the biggest bubble potential of this bull run. Simmilar to ICOs back in 2017, NTFs traders are way over their heads. There is now way, that NTF will keep the current price, yet alone reach higher value in the future. Its just sick to see how many “art” works are being added to ETH right now, and I am sure this will be the cause for next burst.

[carlisle1]

Yes, this can be considered too much hype, there are many items that are made into NFT products and sold at unreasonable prices.And now many big companies are starting to look at the NFT platform and enter into it. Maybe one day there will be a new trend that can shift NFT hype is like the rise of ICOs a few years ago.

Yes, I often find ordinary picture products but are sold at a high price and the price doesn't seem to match the picture,
even so NFT is used by many people to make a profit,
I hope so too and we'll see in the future

Taking your chances in investing with this kind of venue needs of having good anticipation and a big nerve,

chances of losing with the common hypes is unpredictable, there are many NFT projects that shows a very huge value, investors are willing

to buy, in hope that lick will come and bring them huge amount of profits.

Always going to depend from how you understand the market and how you will take care of your investment.

[Abiky]

When the people know that there is money on it, they will do everything just to jump into it and make money thus creating this hype.
When ICO has been the hype, many developers and people earned money from it and many projects too turned into a scam.

Same thing will happen to NFT's. TBH, I just don't understand why in the hell these investors are buying a pixelated JPEG art hoping that they will earn money from it. I mean I'm not good at art but I don't see the real value into most of the NFT arts out there. With regards to NFT gaming, most of them will become rug pulls or a dead game. Though some will become successful, a huge number of NFT games will be dead especially when the bear market comes.

It's always been full of hype. People are getting scammed big time by purchasing so-called "digital art" with no intrinsic value. Most digital arts in the forms of NFTs are simply images that can be found on the web for free. I wouldn't waste my time and money into these kind of NFTs except for digital in-game items and collectibles. The industry will be put up to the test during a long-lasting bear market. Right now, the crypto market is bearish so I'd expect interest into NFTs to decline at a slow pace. I'm pretty sure regulators will come in, as they'd want a piece of the pie. Just like ICOs were destroyed because of government regulations, NFTs will have the same fate. What matters is crypto/Blockchain tech. As long as people are able to achieve financial freedom, there should be nothing to worry about. Just my thoughts

[tygeade]

It's always been full of hype. People are getting scammed big time by purchasing so-called "digital art" with no intrinsic value. Most digital arts in the forms of NFTs are simply images that can be found on the web for free. I wouldn't waste my time and money into these kind of NFTs except for digital in-game items and collectibles.

The worst part about this whole NFT thing is that they keep defending as "you can't value art objectively, it may worth 5 bucks to you, may worth 5 million to someone else" and make a claim that the hat wearing monkey or cyberpunk robots should worth millions because of it.

If anyone seriously considers them "art" then I am sorry but you are severely mistaken and you should not be considering that as investment but you deserve to lose all of your money and I would not feel bad for you, I hope they go to 100 million each because I rather have everyone profit as much as possible but that doesn't mean that I can see it happening at all. Art is art, this is just hype.