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[Symmetrick]

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[TheBeardedBaby]

All this NFT is just hype, it will pass and it will only be useful for the game industry and collectables of those early projects that started everything.
I don't see the any other future than that.
Wasting time and money for imaginary gains is 99% way to bankruptcy.

[Upgrade00]

Just like we see with bitcoin, majority of investors are motivated by hype and would not be interested if there is no fomo or the price is not skyrocketing. When bitcoins price is within the low range and going sideways or down, many tease bitcoin investors for their poor decision, when the price starts bulling upwards, those same people would buy at the top or wish it were cheaper so they could buy more.

NFT is another of such hype trap, lots of attention and money flowing around in it and many people wishing to get a little of the billions in marketcap, exposing them to scams.

[julerz12]

Wash trading is pretty common with the new NFT projects coming out these days. Opensea and other similar platforms are partly to blame for this massive scheme becoming rampant.
These platforms clearly have the means to prevent this, like how OS removed the copied (left-facing) Bored Ape Yacht Club NFTs on their platform, yet they chose to turn a blind eye to most spams on their platform since they too profit on the increase in volume. I'm afraid that once the Metaverse hype really blows up and integrates their own NFT marketplaces, things are only gonna get worse.

[masterrex]

IMO, I think Nft's are not to be considered as an investment but rather than a form of collections because NFT's are just a kind of digital art that's why it has no long term demand for it that's why in reality it is very true that the NFT's are just driven by temporary hype and after the hype was fade it leaves behind a trail of losses if those people who bought it was considered it as a form of investment. I totally agreed with the author's points of view!

[avikz]

Merit to OP for speaking the truth! NFT is a pure hype just like we had for ICO and Defi which eventually died a painful death after siphoning out billions of dollars from investors pocket. NFT is going to do the same thing, but on a larger scale. Majority of the people will burn their hard eanred money behind some stupid images.

Honestly, If someone has millions to invest in art, they must go for real paintings of known artists. An NFT winter is absolutely coming which may never get over.

[JooBra]

Merit to OP for speaking the truth! NFT is a pure hype just like we had for ICO and Defi which eventually died a painful death after siphoning out billions of dollars from investors pocket. NFT is going to do the same thing, but on a larger scale. Majority of the people will burn their hard eanred money behind some stupid images.

Honestly, If someone has millions to invest in art, they must go for real paintings of known artists. An NFT winter is absolutely coming which may never get over.

I depends why you buy NFT. Also there are different types on NFT. If you buy cause you like the art then the price is not relevant so much. Other type of NFT that I buy is the NFT that have some use, being a casino token or some other type...

[hyudien]

I'm not really interested in NFT, because it's clear that making money is not as easy as trading on an exchange. The reason is simple, that NFT is good at OpenSea which is mostly the biggest platform for now. First, I'm not an influencer who easily spreads photos about NFT's work on social media, especially Twitter, which is easier to spread. If we are going to start with NFT, then preparation for promotion is the main thing. Second, they don't care about the quality of their work because if they are promoted by big influencers, the price will go up and become trending on the surface of OpenSea. That's what I know so far about NFT marketing. You can see how garbage in NFT is scattered and no one buys it, that's because they only come when the trend has emerged, while the power of Influencers is No. 1 to promote an NFT.

[bitbollo]

There are just few NTFs that can have a "real" value (maybe linked to some famous artist on real life)... Others are just blockchain trash created ad-hoc to scam people without knowledge of this field.

Good topic Ratimov, this should be pinned to allow every newbie following this section to have a clear overview of the market.It's a good discussion to avoid another drama like ICO Mania of 2017.

[JayTrain]

almost every day I am surprised that some person sells a picture for hundreds of thousands of dollars or millions...and I think these are the ones who are lucky, most NFTs are not liquid, and it is not clear which NFT will become popular today, so this market is very risky and I would think several times before investing.

[ryzaadit]

IMO, all of these NFTs things especially for NFTs without any feature like Play2Earn.

More worst than ICO/IEO/Crowdfunding token, In token we can accept the loss and sell instantly because we have book order. Comparing to NFTs there is no single order book, If we have orderbook maybe only one offer and mostly just a joke offer like under 1$ or 99% from the current price.

That's the worst of this NFts things.

[timerland]

The fact that centralized entities are able to delist and therefore materially affect the prices of NFTs is also absurd.

E.g. I believe some BAYC owner was able to pressure Opensea into labelling some stolen NFTs as fraudulent.

While that in itself has nothing wrong with it, it inherently challenges the principles of decentralization. You are essentially catering for the ultra-rich elite and appeasing them whenever they fail to instate the necessary security themselves.

[Yogee]

I like some of the NFT P2E games but I'm not a fan of NFT arts. It was pretty clear to me that many items sold there are stolen and it's nice for Opensea to acknowledge that. They are also active in cleaning up their platform. Squiggles was the latest I have seen that was delisted from Opensea since they were accused of scam and rugpull. They deny it but most likely they are following other evidences that surfaced.

[panduryk]

Im think nft now are raw, and he should evolve more. But nft in games or metaverse it's good. Coz they are backed by a physical item in the game which are unique. While a regular IMG can be easily can and copied, I think we will use more nft in web 3.
Now i think if nft doesn't have unique technic he are useless 

[bbc.reporter]

All this NFT is just hype, it will pass and it will only be useful for the game industry and collectables of those early projects that started everything.
I don't see the any other future than that.
Wasting time and money for imaginary gains is 99% way to bankruptcy.

I disagree. I reckon give we should give this more time before declaring something as only hype. NFT might be the beginning of something new culturally and it might also become the doorway that will encourage many people to enter and learn more about the cryptospace. However, I agree that the prices are based on hype and much of them will be dumped during the bubble pop.

[adzino]

IMO, all of these NFTs things especially for NFTs without any feature like Play2Earn.

More worst than ICO/IEO/Crowdfunding token, In token we can accept the loss and sell instantly because we have book order. Comparing to NFTs there is no single order book, If we have orderbook maybe only one offer and mostly just a joke offer like under 1$ or 99% from the current price.

That's the worst of this NFts things.

Those play2earn also sounds very fishy. I mean, only those who joins early are able to make everything, while others that join later can't make much and in the end they have to spend money to make money or else you will be making peanuts without spending anything. And it's the same thing over here. Buy some random stuffs and hope that you will get rich. Only the creators and those who got them early makes the profit, while others that bought them later due to the hype are stuck with those trash NFTs or items that have no use.

[DevFile90]

NFT have no future, the hype will die soon and no one will talk about them anymore only those games that have lots of fans/players will carry on with NFT in game assets other than this is nonsense.

[southerngentuk]

Honestly, even though I've managed to profit from some NFT products, I don't believe in what they bring to life. The great hype and the promise of profits make it impossible for newcomers to understand that they are just stubborn and greedy people. But it is also necessary to accept the natural laws of life, not only for this market, which, hopefully, over time, will help us grow up and have a better awareness of investing as well as look for opportunities in this market money.

[Anonylz]

It is difficult to tag the entire project in the nft space scam or a waste of investment because of the hacks or scams involved, otherwise we would use the same logic to view the entire crypto space. just like the ico days, the defi's now we have nft's, we have equally heard several hacks, exit scams or rug pull during ico's, same thing happening in defi, in fact, till now we are still experiencing many defi hack, same as non defi projects, now nft is the latest trend with lots of hype and it is very natural to see scammers and hackers trying to take advantage of this new trend.

if we talk about wash trading, then we should look at where it all started even before nft came into the picture, many exchanges where accuse of wash trading and that was not because of nft, open sea is a platform like any other who has suffered in the hands of hackers whether trading on nft or not, am just trying to be objective.

[sunsilk]

Truly the hype is real for the NFTs.

These tokens, arts, music and everything that has been minted had a value from the makers of it. But eventually, as they sell it, an aspiring nft investor should ask to himself if there will be another taker once he starts to sell it.

Well, we shall see the exact thing after or during the bear market which is just around the corner. Many of these millions of nfts in valuation might drop to the bottomless pit and it shall reflect on its price.