Do NFTs Hold true value?

[Nwaokelz]

I wouldn't regard myself as a guru in cryptocurrency related business and I would not be identified as a noob too, I'll rather pass for an advanced noob  . So recently I got a few affordable NFT pieces and my friends and family have been busy telling me how I threw my money away.
One of them eventually asked me " what value do you think NFTs hold aside the sentiment attached to it?" and I responded saying "the value is the sentiment".
So I'm asking same question I was asked and somehow I hope to see a better re than mine.

[ry0t]

Hi,
You're right with that. However with ethereum is costs money to "mint" the nft. It costs electricity to power the ethereum network so there is a fee when you purchase an nft. This adds some value as well.

[Nwaokelz]

Hi,
You're right with that. However with ethereum is costs money to "mint" the nft. It costs electricity to power the ethereum network so there is a fee when you purchase an nft. This adds some value as well.

I didn't think about the minting fees and the Energy implications.

[nullama]

I think it's just an interesting technology, that can be applied to some useful and some not useful things.

At the end of the day an NFT is something unique that can be easily verified.

You could apply this concept to many things. For example, a digital ticket to an event. Instead of just having a PDF with a QR code, you could have an NFT. That would allow you to easily sell tickets for example, or you could keep them as a memento of the event. Content creators could also give you bonus artwork with the ticket. Kinda like the booklet of a CD.

On the other hand, I don't see the point of buying a random image as an NFT.

[Ucy]

The true value depends on the problem it can solve for you and others. If it solves no problem that likely means it has no value and doesn't deserve the amount of money that's poured in it.
If it's art based NFT, the art should be useful to you and others, otherwise don't make money from it.
I guess lots of people have not yet realize that benefitting from something they do not deserve has its consequences. Everyone needs to be contributing something useful and good to society.

[DeathAngel]

It’s this cycles ICO craze, it’s a massive scam & will crash hard. Pixelated jpegs have no real life utility & galue.
It won’t be long until they’re worth near $0.

[Nwaokelz]

It’s this cycles ICO craze, it’s a massive scam & will crash hard. Pixelated jpegs have no real life utility & galue.
It won’t be long until they’re worth near $0.

This is my fear.
I'm afraid that most NFTs will become worthless pieces of Jpegs that will have no value to the holder.

[Thymoty]

It’s this cycles ICO craze, it’s a massive scam & will crash hard. Pixelated jpegs have no real life utility & galue.
It won’t be long until they’re worth near $0.

This is my fear.
I'm afraid that most NFTs will become worthless pieces of Jpegs that will have no value to the holder.

I hope you are careful with investing in NFT art, it's much better if you invest in NFT games only

[DrWho42]

i doubt it

[Nwaokelz]

It’s this cycles ICO craze, it’s a massive scam & will crash hard. Pixelated jpegs have no real life utility & galue.
It won’t be long until they’re worth near $0.

This is my fear.

[/quote

I'm afraid that most NFTs will become worthless pieces of Jpegs that will have no value to the holder.

I hope you are careful with investing in NFT art, it's much better if you invest in NFT games only

Well, I try to exercise as much caution as possible