Is it just me thinking about this NFT craze this way?

[wajik-tempe]

As good as NFT sounds to me there is another part of me that just feel like NFT is nonsense, crypto investors are pumping billions into a cartoonish looking monkey for what? To store that money or hope to get bigger money later? I smell perfect way of embezzling dirty money, illegal shit and so on

it's a very good invention at first to create the rights of digital assets but as usual, if anything good goes viral, then the roots are coming to make it bad. A lot of trash sold with higher price than an original great digital goods so it is no longer great.
The concept is really good and could be implemented in the future when metaverse is happening, but it still need more evaluation and improvements

[cryptoaddictchie]

As good as NFT sounds to me there is another part of me that just feel like NFT is nonsense, crypto investors are pumping billions into a cartoonish looking monkey for what? To store that money or hope to get bigger money later? I smell perfect way of embezzling dirty money, illegal shit and so on

Probably they can do that by means of nft. But what can we do on such decentralized space like nft. Even Binance has their own nft marketplace. Im pretty sure some uses nft to widen their arts collection and some who uses it to embezzle some funds. I cant say ndt is bad at all but surely they can use that on some form of money laundering.

[bakasabo]

I think current NFTs has moved from what they were originally created for. Now people create and place NFT on a marketplace, with an idea to find a person or an idiot who would buy it for a highest price. People dont create art because they want to and like it (the process), but turned this all into a conveyor hoping to foist their minute spent picture to a newbie.

Recently I saw a guy who took pictures of himself for several year, turn them into NFT and sold at opensea. That is a good example of NFT craze. As not one, not two, but a lot of these NFT were bought.

Sometimes I even consider picturing some objects and selling them as NFT, totally random objects. With the only goal, get some easy money.

[Alanaz]

I think today's NFT hype is so different from the usual.
at the start of the hype there was a lot of art in it and indeed it had artistic content which was very nice to look at.
but for now I see a lot of NFT which is just for fun and does display pictures that incidentally don't really care about the art where the important thing is that their pictures are for sale.
I guess to say manipulation is indeed very possible for now

We can't avoid this thing to happen as this new craze is now proliferated with scammers. So the likelihood that you will see crap NFT items that are up for sale will always be here.  It is up to the buyer how he will do his own due diligence to avoid being screwed. Or better yet, invest your funds to established alts or btc, rather than putting your money at this very high risk investment. I am certain a lot of these NFT collectibles will be worthless in the future.

I don't know if this is manipulation or not but with the NFT that has gone viral in my country these past few days it has made a lot of people expect the same thing but on the other hand the NFT they trade is not as expected and even tends in a bad direction In terms of images, my country's telecommunications agency urges you to make and do NFT wisely.

[Silberman]

I think today's NFT hype is so different from the usual.
at the start of the hype there was a lot of art in it and indeed it had artistic content which was very nice to look at.
but for now I see a lot of NFT which is just for fun and does display pictures that incidentally don't really care about the art where the important thing is that their pictures are for sale.
I guess to say manipulation is indeed very possible for now

We can't avoid this thing to happen as this new craze is now proliferated with scammers. So the likelihood that you will see crap NFT items that are up for sale will always be here.  It is up to the buyer how he will do his own due diligence to avoid being screwed. Or better yet, invest your funds to established alts or btc, rather than putting your money at this very high risk investment. I am certain a lot of these NFT collectibles will be worthless in the future.

I don't know if this is manipulation or not but with the NFT that has gone viral in my country these past few days it has made a lot of people expect the same thing but on the other hand the NFT they trade is not as expected and even tends in a bad direction In terms of images, my country's telecommunications agency urges you to make and do NFT wisely.

You need to be careful, not only there are a lot of scams in the market of NFTs, a great deal of those that are selling NFTs for a lot of money are not really selling NFTs at all, what they are doing is to try to clean the money they got from other illegal sources and then buy their own NFT art and then try to make that money legal, this kind of thing happens all over the world with many assets, so I will not be surprised if something similar is happening in this market.

[Natalim]

As good as NFT sounds to me there is another part of me that just feel like NFT is nonsense, crypto investors are pumping billions into a cartoonish looking monkey for what? To store that money or hope to get bigger money later? I smell perfect way of embezzling dirty money, illegal shit and so on

if you ride the hype and invest there earlier, you got a huge profit but if you were investing them during its peak, you'll be getting close to losses.

Just looking at their market performance, I feel bad about the future of these NFTs projects especially as these Metaverse projects had been taking their advantage. If we have these NFT's in our wallet, I'm not sure but selling is the best option than holding them for a long time.

[harizen]

As good as NFT sounds to me there is another part of me that just feel like NFT is nonsense, crypto investors are pumping billions into a cartoonish looking monkey for what? To store that money or hope to get bigger money later? I smell perfect way of embezzling dirty money, illegal shit and so on

It's like how other tokens without even fundamentals are pumped, creating a FOMO since it was the current hype. Maybe it looks wrong but since people are getting hype, there's an opportunity to make money out of it.

Don't get those people wrong. It's about good timing and it's effective to others.

Unfortunately, there are people who blindly FOMO at those and they don't know how to ride the wave during the hype.

[SlimShadyMmp]

Depends on the NFTs you are going for People that bought bored apes are really going to be super reluctant to sale while most people with nfts like axie will jump the gun as soon as there is a dip in the market because hey axies get born everyday and some are kinda useless for various strategies

[TelolettOm]

I cannot say that all NFTs are nonsense because some of them are exactly valuable. But I also see that recently, there are many annoying NFTs that are created and sold on some platforms like OpenSea after some viral NFTs (like in my country). And, as usual, some scammers also create fake NFTs to deceive.
Well, actually the concept of NFT is very interesting and valuable enough. Bt as long as the platforms only focus on the income and earning,I think that the main purpose will be changed, and the quality of NFT may be also decreasing.

[letyouearn]

Tokenisation itself is a very interesting and promising technology, but you are right - the modern NFT market is full of different kinds of scam and crap. Most of these projects will die in the end of bull market.

[LUCKMCFLY]

There are many people who are crazy about NFT, collectors or makers of NFT, maybe this is because NFT is a unique technology that makes anyone interested in getting into NFT, just like games that make addiction, then NFT can also make addiction, if you are a photo collector then you will continue to want to buy, the best way to control is to do social activities such as helping victims of natural disasters.

You are right, in fact one of the biggest markets of the NFT has been the games, but they have not known how to exploit it well, most of them have been taken by many unethical devs scamming many people, which is not correct, without However if things with metaverses, NFT games in metaverses if they don't get better, then I think NFTs will be like those collectible items for people and won't take value until a few years from now, it's kind of like what happens with paintings and works of art, that is my particular perception.

[Henrobakkara]

NFT will have a negative impact on crypto in future because this use case is really not needed, it has nothing to do with better money or making payments and now billions of money are been spent on them, the most confusing ones are art NFTs just for collection purpose only, why spend money on them

You are right. After I even saw the way you can easily make some of these NFTs from some pictures with some applications making them look like paintings, it all became even more not serious to me cos someone can just tune some picture into whatever and be sold for hundreds of cash. I have not really had much interest in NFTs even though I hear people making money but after what I saw, not interested.

[TheGreatPython]

As good as NFT sounds to me there is another part of me that just feel like NFT is nonsense, crypto investors are pumping billions into a cartoonish looking monkey for what? To store that money or hope to get bigger money later? I smell perfect way of embezzling dirty money, illegal shit and so on

What you have to understand is that whatever we have called money or a means of exchange is because we have agreed to call it money and it serves as a medium of exchange for all of us. And that the way we have come together to believe that the picture of a monkey is not just your regular picture with the ethereum block chain. But, the question of being illegal shit or not is a question for another day.

[AmoreJaz]

Tokenisation itself is a very interesting and promising technology, but you are right - the modern NFT market is full of different kinds of scam and crap. Most of these projects will die in the end of bull market.

True, there have been some opportunities that made these types of people kind of help them through NFT. And that's why it doesn't stop the rest of us from thinking that this sort of process is going through with that red money on it. But, I'd like to acknowledge those legitimate people that have made a huge profit on it selling their actual arts, that's the wealth transfer that has happened and those folks deserve it as those whales have purchased their works with sums of money.

just like any other hype, NFT is no exception when it comes to proliferation of scammers and fraudsters. if you are NFT holder, make sure you are buying a legit item. and has real value in the market. basically, everyone can create their own NFT these days.
some are indeed overwhelming in terms of price, you will think that's unreasonable. but some are buying. we don't know if they know what they are doing or just because they are riding the hype without much info about it

[goinmerry]

As good as NFT sounds to me there is another part of me that just feel like NFT is nonsense, crypto investors are pumping billions into a cartoonish looking monkey for what? To store that money or hope to get bigger money later? I smell perfect way of embezzling dirty money, illegal shit and so on

That not-sense is giving good money to most people already. Can we call it still non-sense?

It's ok to have that kind of view towards something but rather than cry, why not take advantage of the opportunity?

Do you think we can solve that dirty money or illegal shit by not taking part in the NFT craze? That's something we can't stop.

[Cryptock]

Tokenisation itself is a very interesting and promising technology, but you are right - the modern NFT market is full of different kinds of scam and crap. Most of these projects will die in the end of bull market.

Each bear market cleans the cryptocurrency market of scams and weak projects. After large drops in prices, bad projects no longer rise. Those that will be worth investing in the future always go for new ATH. Sure, many NFT projects will just collapse, but I think a lot will remain, and there will still be many investors who make money from it.

[Jaered]

Mate, I have thought of that way, but then that's art. Some people think of art as pure rubbish. But NFT has provided a vehicle where art and technology meets(in this case the blockchain). So live the moment while it lasts til it implodes or evolves

[agustina2]

As good as NFT sounds to me there is another part of me that just feel like NFT is nonsense, crypto investors are pumping billions into a cartoonish looking monkey for what? To store that money or hope to get bigger money later? I smell perfect way of embezzling dirty money, illegal shit and so on

The fact that the NFT market is pumped to billions, then we can say it's a worthy market and not just non-sense or shit. Many investors come here making it a wealthy and active market. Seeing the volume in OpenSea and AtomicHub, the daily volume is insane.

We can apply here the idea the same with hype altcoins. Let's take part in the opportunity to earn here. There's money here with the right strategy.

[GreatArkansas]

Even if you will say NFT is just a normal picture file that can be copied and pasted, or only JPEG. The way how it is implemented, how it was minted on blockchain with only limited supply, that's how it become unique for me.
But the way you think how much expensive they are, I am also thinking about it. But that is an art, artists should be rewarded. So it's normal for me.

[jeungo]

I agree, I do not see anything fundamentally important in these assets. I understand that even in games there are unique things that can be very expensive. But in the case of NFT, the price is unjustified and the uniqueness is due to the fact that everyone can make their own items. This goes beyond simply understanding the pricing of these coins.