Are NFTs overhyped?

[Quidat]

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

Sort of but not really that much because some of them does really have some real use case but cant deny that majority of them are just some sort of collection which you should really be that mindful on engaging with these projects so that you would not likely to lose money
just because they are totally shit or do lose their value.For now the best NFT's i do see which do sticks out on gaming imho.

[Woodie]

I thought they were a great addition to the crypto ecosystem in the beginning as I saw this being part of its diversification and playing an inclusive role in terms of art. But a look what they have become today, I think they are just the trending subject everyone keeps talking about...which could be easily mistaken to being overhyped. But in the actual sense this is when they are gaining ground as more people get to know of them, which makes them an art piece which is still a work in progress.

[cloudfir3e]

for me NFT coins are not exaggerating, only now NFT coins are becoming a trend in the crypto world even though they do not have a definite function.
but for the price issue i was surprised when i saw the price of the NFT coin that had appeared in 2017. namely the CRO1 coin.
CRO1 has a value of $13,000 and is currently very much in demand.
maybe someone who is active in 2017 knows about NFT CRO1

[7788bitcoin]

Sort of but not really that much because some of them does really have some real use case but cant deny that majority of them are just some sort of collection which you should really be that mindful on engaging with these projects so that you would not likely to lose money
just because they are totally shit or do lose their value.For now the best NFT's i do see which do sticks out on gaming imho.

Most of the NFT projects are collectibles and i am yet to see the full utility of these projects, Metaverse could be the future but we are yet to experience them in full capacity. Only time will tell what the future holds for the NFT market. Some of the projects will die out eventually like any other projects that are starting during the initial hype and only a few will last for the long term.

[Tengricrypto]

The possibilities are ∞

[harizen]

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.

Yes, it's overhyped. But unlike other trends before, there's something special with NFT that's why the hyped of it last long.

Although, as some others noticed, I also don't see any fundamentals or advantages of buying digital stuff and collectibles. Still, it's better to have those physically as it's worth more.

The NFT hyped is more valuable and makes sense to buy if it's about related to NFT games. They are the ones keeping the NFT hype and trend alive.

[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.

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.

In the gaming sector, NFT is indeed able to raise a level of popularity, even I myself initially thought that the NFT project was only for the gaming sector. However, after some time, it turns out that the NFT project has also entered other sectors so that the positive effect is that many public figures choose NFT for investment.

[Valak]

The lack of identity verification and high-end creation, NFT doesn't really support artists in the long term. It has potential as a way for artists to earn money and royalties. However, there are many issues that must be addressed in order to provide more protection for artists, in particular pointing to examples of fraud and plagiarism in the NFT space.

[Oilacris]

NFT is not bloated. This is a genius direction and has not yet been fully disclosed.
If NFT, then only Hangry Animals. I am absolutely delighted with this project. I can't wait for the public sale. There is very little time left, do not miss the opportunity.

Its not really that obvious that you are just shilling it out and also its really that something been hyped as of this moment when we do talk about NFT's.
We've been flooded out lots of games now specially into this section of NFT's yet there are lots do end up on being a scam which it isnt surprising that there would something like this.
As an investor you should really be that wise on where youre dealing with and be sensible or aware with your actions.

[LUCKMCFLY]

For me they depend on the Value they give it, the best of all NFTs can be created, but people have to feel a feeling of belonging based on it, of course that a speculative market can be created based on mere demand and offer, currently there are many NFTs that are coming out, be it artists, or some NFT game, whatever, but the important thing for its value to prevail over time has to be to the liking of many, and this includes an immense community In fact, sometimes the community is what drives an NFT project to reach the top and always stay on top.

[ansarose1]

Some may say it's definitely or crypto enthusiasts were just overhyped by NFT's projects but in some instances even it's overhyped it shows good outcome and good productivity in cryptocurrency business. It could give a good trend for those who are going to be part of it and i think it could pull people into crypto investments. So, as a result, it could be a good factor in cryptocurrency business.

[adiebitsler]

The lack of identity verification and high-end creation, NFT doesn't really support artists in the long term. It has potential as a way for artists to earn money and royalties. However, there are many issues that must be addressed in order to provide more protection for artists, in particular pointing to examples of fraud and plagiarism in the NFT space.

What you said is very good and if improvements can be made in the next year, then NFT enthusiasts will continue to increase in the next year with the birth of very interesting things and can support an increase in income for new artists as well.

[Hypnosis00]

I can't see it was unless the drops have occurred right after the surge but we never see it, instead of seeing them continue to make a rally despite that negativity. Maybe for some NFT's who are worthless and have no use-case project, but these gambling platforms make such an interesting trend due to the P2E market promotion where the they adopt the situation and encourage gamers which eventually increase the demand.

[Jason Rubar]

When I first heard about NFT, I also thought it was more of a bloated story. And then I looked, bought myself one, and then resold it for a lot of money. It seems to me that people love to collect something. Look how many numismatists there are today. It is this art collecting, only on a new level.

[matjas]

Probably they are, both the arts, paintings and as well as the games. They will be put to test once another trend comes that will take the hype that's with the NFTs.
I think those digital arts that have started to be priced as that much have started the craze when there were NFTs that have been sold millions.

I only see potential value in gaming world, there will be limited number of popular gaming NFTs since you cant just make good games every week all the time. When it comes to art, anyone can draw anything and keep doing it no matter what. We already see how many new art NFTs are coming to market every week, its just sick that people think every single thing will be worth something in the next few years. Please be careful what you buy.

[kojektea]

NFT is a new concept in cryptocurrency this year. The value of ny is in the maker like you buy a painting that can only be made by that person. Of course, if the person who painted wants to sell it at a high price. NFT has something in common with that. This can also be interpreted as a land certificate that becomes a sign of property rights. It's just that, such cryptocurrency regulations have not been perfectly directed. Perhaps in the future the owner of the company has his own NFT as the official owner of the company.

[coinzona]

Yes, NFT going to be a massive dump someday, NFT is only about hype like Meme coin. IMHO.
Starting today, the next big thing is the metaverse project.

[dbc23]

At some point the hyping is needed but its wise to trade with caution. NFTs are virtually everywhere and one just need to take caution because scammers would soon invade the projects if they haven't already. We have so many varieties of NFTs currently and definitely not all will do well

[notsanta]

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.

i think play to earn games (nfts)will have some of the most utility, see $GALA games for example. the CEO of zynga the company who made farmville and mafia wars some of the most viral games in early facebook days, now leads gala. their games are actually fun. I'm bullish on $axie infinity as well.

but other nft's no. unless you are in a massive community like bayc or cp most will be flops

[Porfirii]

i think play to earn games (nfts)will have some of the most utility, see $GALA games for example. the CEO of zynga the company who made farmville and mafia wars some of the most viral games in early facebook days, now leads gala. their games are actually fun. I'm bullish on $axie infinity as well.

but other nft's no. unless you are in a massive community like bayc or cp most will be flops

I agree. NFTs are not just overhyped, but overhyped in the wrong way.

Briefly, I think that they are undervalued in some way, while overhyped. How is this contradiction possible?

Because a huge percentage of Non Fungible Tokens are simply trash (same story that ICOs back in 2017/18), but I believe that we are still far from seeing the true potential of the concept itself. Correctly applied, NFT technology can be huge. I don't know if it will be for in-game items, artistic products or whatever. It may even explode with something that hasn't been invented yet (some kind of wearable that will be mainstream in the future, a little brainstorming here). But, in the meantime, we are focusing on the fireworks.