Can NFTs disrupt the traditional economy?

[clarkt]

This is more like an advertisement rather than discussion. To answer your question or should I say your advertisement , NFT is a new phenomenon in cryptocurrency and it is still in it's early stage! I think NFT will have utility in metaverse of which is still developing as well. When we begin to have well developed AI, Gaming Metaverse NFT will play more important role in these ecosystem. Football, Music, Art will adopt NFT as tool and value in those sectors!

[Godwinpaul]

NFT seems like the next big thing in the industry and from my perspective, they are overvalued. I feel NFTs happen to be trending due to the fact that the industry is going through a different phase and before long we would have other trending phenomenon in the cryptocurrency space. I don't see NFTs disrupting the traditional economy as its too exorbitant and most mundane individuals cannot afford it.

[7788bitcoin]

NFT seems like the next big thing in the industry and from my perspective, they are overvalued. I feel NFTs happen to be trending due to the fact that the industry is going through a different phase and before long we would have other trending phenomenon in the cryptocurrency space. I don't see NFTs disrupting the traditional economy as its too exorbitant and most mundane individuals cannot afford it.

Have you checked the token price of some of the NFT projects and do you still claim that the tokens are over valued. There was a time when the market used to rally last year and majority of the NFT projects rallied a lot and anyone who invested during those rallies are stuck as majority of the projects went down 50% to 70% of the all time high valuation they achieved.

NFT is not made to disrupt traditional economy but it is here to change the business model of how arts are traded and sold.

[TastyChillySauce00]

If it’s for something like ticketing that uses technology of NFT considering the unique nature of NFT that’s differ in each coin I think it could disrupt the economy in the future.
I could vision the use of NFT in the future could strengthen economy by digitalizing everything making the economy runs faster and basically could helps increase the growth of an economy.
So many of us here are just talking about arts and painting but honestly NFT is more than that as NFT itself is just a technology and doesn’t get fixated only for paintings and arts, it could quite literally be used
anywhere.

[Luqman]

The concept may be different. NFT will not disrupt the traditional economy because it may have different targets and also concepts. We know how NFT works so far and they will probably precisely support the economy.
Many people are rising their financial and also economy because of NFT. They will support each other, not for dusrupting.

Btw, what you are going to refer to here is about your own project?

[kotwica666]

*SNIP*

It's a very nice idea that you are in the tourism industry. In my opinion, it is definitely an industry that is very underrated in the world of cryptocurrencies, but maybe it is because it was tourism that suffered the most during the covid19 pandemic.
As for which industries will adopt NFT the fastest, I have no doubts that it will be art, filmmaking and computer games, then I think it will be sports and music.

[LUCKMCFLY]

NFT seems like the next big thing in the industry and from my perspective, they are overvalued. I feel NFTs happen to be trending due to the fact that the industry is going through a different phase and before long we would have other trending phenomenon in the cryptocurrency space. I don't see NFTs disrupting the traditional economy as its too exorbitant and most mundane individuals cannot afford it.

Have you checked the token price of some of the NFT projects and do you still claim that the tokens are over valued. There was a time when the market used to rally last year and majority of the NFT projects rallied a lot and anyone who invested during those rallies are stuck as majority of the projects went down 50% to 70% of the all time high valuation they achieved.

NFT is not made to disrupt traditional economy but it is here to change the business model of how arts are traded and sold.

I agree with your statement, only that for now it is not very viable to be thinking much about NFTs if the BTC market is in a slight drop for a long time, however the potential of NFTs has not been seen 100%, since in 2021 the NFT games were largely in the hands of devs who did not know how to handle the boom and managed to carry out ponzi schemes, which took away their credibility, at this time NFT does not represent any type of danger for the traditional economy, I think that if the mistakes of the past are improved, if many more things can be achieved and taking into account the metaverse, it is likely that better projects will be proposed.

[asyakashi]

Dear all,

So, What industries do you think are going to be the most disrupted by NFTS? Music? Sports? Insurances?

I don't think the NFT Industry is really that annoying.
It's not the gaming, arts, music, insurance, sports or other industries that include their industries to make NFTs.
I'm sure that what's disturbing here is how from the price of the NFT itself, it seems that cheap NFTs tend to be
more in demand than expensive ones, even if they don't care about the value in the NFT.
This is actually quite disturbing, as if they actually do not appreciate the expensive work that has been made by the artist.
Maybe your project will be a solution for that ? I'm sure solving that problem will be useful for many people.

[indo1]

As Ibiza is a great place for attention, and important for mass adoption of the technology (around 10 million tourists yearly) we are developing there a DAO with our own utility token (IBZ) and own NFT marketplace (nft.ibizatoken.com)

We are working on NFT ticketing, Utility NFTs with partners (hotels, artistic venues, tourist places,...), art NFTs,...

It seems that is indeed what we expected.
Before, I've never come across an NFT that has any utility other than games, but games are so boring.
There are no plane tickets, tourist hotels and others, but I'm sure it's necessary ,
at least if your project develops it it will be a sustainable NFT project.
I fully support your project, we really need NFT that doesn't just rely on hype as trading profit.
But making NFT a broad range of industries is a lofty goal, you're the first I've heard of.

[Psynthax]

it already is disrupting the current economy and could further disrupt the way of life of many people that are heavily attracted with the existence of this metaverse.
honestly, metaverse and NFT could be having a lot more use than that we currently see its just its left with limited use case because we haven’t found anything relevant yet that could further increase the use case of this NFT technology and the metaverse.
therefore in the future there are simply many opportunities for this NFT and metaverse technology in taking over the traditional economy and becomes something that very relevant its integrated with our life.
Your idea seems pretty new in the NFTs but i kinda feel doubt about that if your idea will be disrupting the economy or have a big impact on it. I think you need to prove your idea first.

[kaya11]

Dear all,

We are working on NFT ticketing, Utility NFTs with partners (hotels, artistic venues, tourist places,...), art NFTs,...

But we would like your opinion on what you think is important we focus next.

So, What industries do you think are going to be the most disrupted by NFTS? Music? Sports? Insurances?

The answer to the topic is "Yes", it is most likely possible, but you are not making any sense, you are promoting your NTF project and asking for advices, this is like a click bait, and advertisement rather than a discussion.

NFT is more than that as NFT itself is just a technology and doesn’t get fixated only for paintings and arts, it could quite literally be used
anywhere.

True, I love games, online games for specific. I love to see how NFT world enters this. I want to experience (if possible) looting NFT's on an online game. I see recently NFT are somewhat attached to paintings and they are totally wrong.

[Razanm90]

Dear all,

We are part of Ibiza Token, and are also giving classes in Ibiza about NFTs and their utility in Ibiza.
Also about blockchain and all the uses it can have.

As Ibiza is a great place for attention, and important for mass adoption of the technology (around 10 million tourists yearly) we are developing there a DAO with our own utility token (IBZ) and own NFT marketplace (nft.ibizatoken.com)

We are working on NFT ticketing, Utility NFTs with partners (hotels, artistic venues, tourist places,...), art NFTs,...

But we would like your opinion on what you think is important we focus next.

So, What industries do you think are going to be the most disrupted by NFTS? Music? Sports? Insurances?

You can help us on our thread here:

https://twitter.com/IbizaToken/status/1494348414418657289?t=3DhlzhBl-Z8dIMBkyCPIAg&s=19

I love games like most of the people, especially online games. I think the NFT Gaming has a great future. I am not believing in NFT arts, because I think that it's the worst way to invest. I’m currently actively following up on one interesting NFT project “Reptile Chronicles”. They have an amazing Instagram page, I was so surprised by it. I have read their novel and it is so fascinating story about three races of reptiles. Also, I love card games like HS and Gwent, so I’m looking forward to the release of this game.