NFT is art or monkey busines?

[jaberwock]

As we know NFT is really popular now days and some people support them and others against them. I'm watch these video and yeah i can't deny it, in opensea for example, i see some art thieves not only one or two but very often, and terrible art but gain more popularity and high value.
so what do you think about this video? and what do you think about NFT?

And if you notice that most expensive nft's are all monkeys? What a co incident. Maybe its a sign that they are a monkey business but if your new into cryptos be sure to start on the bottom or by learning the basics first. NFT's are kinda advanced id say and like you many newbies also start with this, maybe because the publication of nft's are too big now but there is more than nft in cryptos and you can find inexpensive yet legit projects.

So, my advice for you is to stay away on those shady nft's as you can loose huge on them. You as a newbie in this scene, your already in the right place so do not be afraid to ask questions here for the things that you hardly understand.

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[magneto]

Is it art? Depends on who's viewing the NFT.
Even a simple black dot on the plain white sheet can be called an art especially when someone appreciates it.
Once you get past the enormous number of profile picture NFTs, there are far more beautifully created digital art that can be found on Opensea. From stunning photos to unique digital paintings.
You just need to dig up a little to find these beautiful arts since most are overshadowed by those randomly generated Profile Picture NFTs.
But, whenever an industry is booming, there are those who would do anything to get the most of it by doing something shady and that's where the monkey business comes in. NFTs that are just copied, stolen, and plagiarized; NFTs with zero utility.
Without a doubt, regardless of how anyone views it, NFTs are here to stay. Especially when a lot of money is circulating around it.

I think that it is definitely way overhyped, though.

NFTs are here to stay, sure. But definitely not in its current form, and definitely not in the stupid use cases of avatars etc.

Even a lot of these utility NFTs actually have zero utility. NFT gaming is probably the only true utility in the long run, and even that is a bit of a stretch at the current valuations for these things.

[arbifahrozy]

Nft is Just trend . Especially for collecting pictures. Most people will lose al lot of money getting stuck with the pictures nft's once hype is over.
We cannot say which Nft will be profitable in future.
Only Gaming and Stacking base Nfts has some value.

[tvplus006]

...and what do you think about NFT?

Not everything posted on OpenSea is art. Anyone can make their own NFT now and place it on OpenSea, charging a disproportionate price for it. But we can say for sure that everything that is sold at Sotheby's is a work of art. Last year, Sotheby's has already sold several NFT at auction, worth several million dollars. So Sotheby's experts consider some NFT a work of art. Here is a link to one of these messages: https://twitter.com/Sothebys/status/1402996062474760193

[QueenVera]

I'm kinda new in cryptocurrency so please correct me if I say something inaccurate.
As we know NFT is really popular now days and some people support them and others against them. I'm watch these video and yeah i can't deny it, in opensea for example, i see some art thieves not only one or two but very often, and terrible art but gain more popularity and high value.

This is not the first time we are experiencing something like this when memes tokens began gaining attention, we saw coins with names similar to top memecoins been launched. Same thing happened when Defi was trending. This scammers uses this strategy because it has worked on previous trend. The ape like NFT were among the best selling so other projects decide to ride the hype and make similar project and majority always end up scamming.

NFT is not a monkey or ape business. We have lands as NFT, shirts, cars etc. While the ape is trending now, you can buy other type of NFT as they might get some boost in the future and begin to trend as well but by then you must have gotten enough to be among those that will profit.

[taufik0911]

I'm kinda new in cryptocurrency so please correct me if I say something inaccurate.
As we know NFT is really popular now days and some people support them and others against them. I'm watch these video and yeah i can't deny it, in opensea for example, i see some art thieves not only one or two but very often, and terrible art but gain more popularity and high value.

This is not the first time we are experiencing something like this when memes tokens began gaining attention, we saw coins with names similar to top memecoins been launched. Same thing happened when Defi was trending. This scammers uses this strategy because it has worked on previous trend. The ape like NFT were among the best selling so other projects decide to ride the hype and make similar project and majority always end up scamming.

NFT is not a monkey or ape business. We have lands as NFT, shirts, cars etc. While the ape is trending now, you can buy other type of NFT as they might get some boost in the future and begin to trend as well but by then you must have gotten enough to be among those that will profit.

I agree with your opinion that NFT is not a business but in my opinion NFT is a piece of art and also part of a development in the application of blockchains in the gaming industry and also much more that can be developed through NFT

[Fivestar4everMVP]

I'm kinda new in cryptocurrency so please correct me if I say something inaccurate.
As we know NFT is really popular now days and some people support them and others against them. I'm watch these video and yeah i can't deny it, in opensea for example, i see some art thieves not only one or two but very often, and terrible art but gain more popularity and high value.
so what do you think about this video? and what do you think about NFT?

the video what i talking about: https://www.youtube.com/watch?v=wDtt24RxdLk

I didn't watch the YouTube video, so I won't comment on it, but let me comment on NFTs on general.
To me, NFTs aren't created for the average users of crypto, I say this because I've bought some NFTs on Ethereum blockchain that am not able to sell today due to very high gas cost, I think the best way to feel good with NFTs is not to see them as a way to make profit, if you are in crypto for money, then stick with trading coins and tokens, trading NFTs for profit is absurd, NFTs are art and anyone buying it should buy it for the love of the art and not as a means of making money.

[jostorres]

Nft is Just trend . Especially for collecting pictures. Most people will lose al lot of money getting stuck with the pictures nft's once hype is over.
We cannot say which Nft will be profitable in future.
Only Gaming and Stacking base Nfts has some value.

I have also had the same thoughts on what people would do with the pictures that they buy in NFT. Will there ever be a market for them to sell these pictures in the future, because some of those NFTs that are being purchased by a lot of people really don’t make sense to me.

Sometimes I see those who will even buy NFTs of tweets that were made by some celebrities, and I do wonder if these people will be able to benefit from this in the future. If in the future that they decide to sell these NFT of tweets that was made by one public figure, then who in the future would be ready to buy it from them? That’s the same thing with random pictures that are being sold as NFT in the market.

[darewaller]

I'm kinda new in cryptocurrency so please correct me if I say something inaccurate.
As we know NFT is really popular now days and some people support them and others against them. I'm watch these video and yeah i can't deny it, in opensea for example, i see some art thieves not only one or two but very often, and terrible art but gain more popularity and high value.
so what do you think about this video? and what do you think about NFT?

the video what i talking about: https://www.youtube.com/watch?v=wDtt24RxdLk

I have heard of one artist who had to close down his online shop because of thieves that kept stealing his artworks and selling them as NFT. It is not easy, and in a situation like this what would you expect the artist to do? It’s not like he would be able to identify all those people who are stealing his art and maybe take action against them.

And also I am not really going to blame the platform that is called Opensea, because it’s not really their fault that people are stealing art works by other artists and using it as NFT. The platform wouldn’t be aware of it, but maybe it would be good if there would be a way to report these people, so that actions will be taken against them.

[JorohMo]

Even if some NFTs are terrible and they are trying to sell them, this does not mean that this will continue for a long time. The market is young now. beginners can go there. But gradually it will become more strict in the selection of those people who sell

[Ararbermas]

I would say both because nowadays there are some frauds as well that making NFT's just to make money from other investors that who believes that NFT'S is an digital art where they can make money in the future.. Most projects is following the trends to be honest so i wouldn't be surprised if someday there are bunch of scammers when it comes NFT project because that's very common now and popular..

[carlfebz2]

I'm kinda new in cryptocurrency so please correct me if I say something inaccurate.
As we know NFT is really popular now days and some people support them and others against them. I'm watch these video and yeah i can't deny it, in opensea for example, i see some art thieves not only one or two but very often, and terrible art but gain more popularity and high value.
so what do you think about this video? and what do you think about NFT?

the video what i talking about: https://www.youtube.com/watch?v=wDtt24RxdLk

I didn't watch the video. But obviously, it's two fold as you have said, it could bet trash, but hey if you can make money out of art then there is nothing wrong about it in my opinion.

So we can't really deny that NFT is the hype today and everyone is taking advantage of it. This is how crypto though, again, whether you like it or not. And just like any hype before, it will simply die down just saying that's why everyone is into it because it might not last that long so why not make use of it right now.

Everything could really be monetize even how dumb it would really be looking and even myself cant really believed that those certain digital arts could really go up much in value which is  really that unbelievable

on the first place and its true that everything could really be driven off with some hype on which you couldnt really able to avoid on not to peek since you would really get interested because you could potentially

earn money which is our main goal or target on why we are here on this market which is on that very common goal.So if you dont like to miss out the train then you wouldnt really be having no choice but
to deal with it even if you dont like it if you are really aiming on making profits.

[X-ray]

I'm kinda new in cryptocurrency so please correct me if I say something inaccurate.
As we know NFT is really popular now days and some people support them and others against them. I'm watch these video and yeah i can't deny it, in opensea for example, i see some art thieves not only one or two but very often, and terrible art but gain more popularity and high value.
so what do you think about this video? and what do you think about NFT?

Those are thieves are thinking their can sell the popular NFT in the opensea but the unique code already recorded by the blockchain and this can't be imitated like when those thieves as stealing NFT from the open sea by copy and  pasting it. I hope that there will be a new system to prevent these theves from stealing the assets on opensea.

Too much people are SCing others NFT on opensea. I hope that something like verification totally needed in this case.

the video what i talking about: https://www.youtube.com/watch?v=wDtt24RxdLk

Totally agreed with it.

[fvb]

It's still art in its way. It's just digital. Of course, this is not much art as painting, but some collectors layout a lot of money. It is like a digital property that only you own. So maybe this hype will pass soon.

[jeungo]

It really depends on who does what, if it's done by a company or a real artist, it can cost a lot of money. And if a schoolboy does it and it brings him hundreds of thousands of dollars, then the question arises whether those who are doing something in this industry are overestimated. After all, in the world artistic culture there were hundreds of thousands of people who, knowing how to make works of art during their lifetime, did not earn even a comfortable existence.

[lalabotax]

Actually, the idea and basic concept of NFTs is very interesting and promising for all elements.
But I don't know right now, there are much more shit NFTs that are traded in some platforms, as also I saw in OpenSea platform. there are some nonsense pictures or NFTs that are tarded. Some stupid people also sell their ID National as NFT. I am really surprised why NFT is being like this. I like NFT ideas and also some of the arts of NFT projects, but not all. Some are nonsense and really shit to be traded.
Moreover, there is also some info about fake NFT that is also tradable, so we must be exactly careful about that

[KaliLinux]

It is neither actually. NFT is just a technology provided by blockchain and smart contract. One of its uses right now is art. But if you are to ask me about NFT in the art world right now, whether it is really an enriching contribution to the rich history of art or it is simply a monkey business, I would say it is more a monkey business than art. NFT in art is just a hype. And all kinds of people, celebrities, opportunists, etc are just using this hype to make money. They're not even creating beauty.

I am not an NFT expert and still not sure if I understand correctly how ownership is transferred and how NFT prices are estimated. However, I also have the impression that the popularity of NFT is just a hype that can pass at any time and if interest decreases, unfortunately NFT prices will also start to fall and many people may be left with nothing but just some worthless digital image.

I agree with that, especially those that are obviously copied from already existing pictures while some digital painting apps were used to make them look like painted NFTs. I believe as time evolves in the NFT world people holding all of this copy and past NFTs will certainly lose out, I am not really into NFTs myself though.