Almost all NFTs are scam

[5W-KILO]

Newbies, NFTs should be the first thing you fear the most in crypto space, look at bitcoin, its usefulness and scarcity makes it valuable, Look at real Gold it's very rare to see and this makes it valuable, imagine if everyone on this earth has Gold in their backyard will Gold retain its value? It will be plagued with devaluation right? This is exactly what NFTs are today, everyone can create theirs.

[_act_]

imagine if everyone on this earth has Gold in their backyard will Gold retain its value? It will be plagued with devaluation right? This is exactly what NFTs are today, everyone can create theirs.

NFTs existence will continue to increase but people will wake up one day to know that NFTs are scam, people will only create NTFs, sell it, some will increase in price while some will not. Altcoins has done so much and they are making scam more possible, see Do Kwon pump and dump UST and Luna, see DeFi scam, see DAO hacks, another are NFTs, the most scam about NFTs will be not in short period of time, it can be long period of time, NFTs that are created today, worth certain amount of dollars but they may fade in price over time and become worthless or less worthless in the future.

[Upgrade00]

It is very like the ICO mania days, where projects where springing up everywhere, due to the fact that Bitcoin was pumping. And ~95% of them had no unique utility and no value today.

This is what happens with erery trend; DeFi and now NFTs; they are getting so much hype and this attracts devs looking for quick cash, and creating lots of rug pulls.
I would say there are some real utility for NFTs, but it's greatly overshadowed by the bulk of scam and money grabbing projects.

[Text]

You are all right, it seems that NFT is almost no different now from the ICOs then, they are just dressed and flavored but still do not stray far from the concept that those who make and sell only at first make a profit but eventually the ones will lose money again are the investors ultimately.  Because almost all of those are just collections and have no benefit.  Sometimes the names of celebrities are even used to attract investors.

[cryptoaddictchie]

Newbies, NFTs should be the first thing you fear the most in crypto space, look at bitcoin, its usefulness and scarcity makes it valuable, Look at real Gold it's very rare to see and this makes it valuable, imagine if everyone on this earth has Gold in their backyard will Gold retain its value? It will be plagued with devaluation right? This is exactly what NFTs are today, everyone can create theirs.

Problem with nfts are those which arent needed are sprouting and keep swarming the crypto space. There are some worth watchin and investing but not all are good and some just created for hype and follows the trend for some quick scam cash.

We cant let those to continue but since this is a decentralized space, I guess whats trending will always be the talk of the town. People soon realize this that some arent bound to put up some hard earned money.

[Beparanf]

Newbies, NFTs should be the first thing you fear the most in crypto space, look at bitcoin, its usefulness and scarcity makes it valuable, Look at real Gold it's very rare to see and this makes it valuable, imagine if everyone on this earth has Gold in their backyard will Gold retain its value? It will be plagued with devaluation right? This is exactly what NFTs are today, everyone can create theirs.

NFT doesn’t meant for big time investment because it’s main purpose is for collection since there’s no ready liquidity for you to cash it out whenever you want to take profit. They are not scam because you are getting the NFT that you purchased while most of the artist  didn’t promised any returns for there buyer. I believe most scam happening on NFT project are those rug pull projects that turns the token value in to but not the NTF itself so definitely NFT is not the scam but rather the token associated with it.

[Poker Player]

I wouldn't say that almost all of them are a scam intentionally. Some are, but many are created and promoted in the hope that the value will go up a lot. Now, how many will be valuable in 5 or 10 years? Very few of the ones we see now. With NFTs a bubble was formed that has also started to burst some time ago and that will wipe out the vast majority of them.

[CryptoHeadlineNews]

For me, I have noticed that making it in the NFT space, you just have to be a very good digital artist and someone with goodluck, because it's actually not easy there, as we have got tons of crowd diving into that field, but only a few makes the success story come true. This days I see lots of same NFTs been giving for free on coinmarketcap just for login in daily, and I ask myself what value will this be, because there was no value added by the creator and they all looks the same

[bitmover]

This topic is just nonsense. The op simple doesn't understand what nft really are.

NFT are a legit use of the blockchain technology. And it is useful for the people who wants to buy it or people that want to develop software with that.

For example, cryptokitties was probably the first NFT game , and it was a success.

I think it is idiot to breed cats and sell them. But there are people who pay for that.

There are also other games like Axie Inifity, and maybe in a few years we will have NFT in bitocin network (who knows?)

Social networks are already implementing nft  to their platforms, so there nothing about "scam" in this technology

[Stalker22]

Newbies, NFTs should be the first thing you fear the most in crypto space, look at bitcoin, its usefulness and scarcity makes it valuable, Look at real Gold it's very rare to see and this makes it valuable, imagine if everyone on this earth has Gold in their backyard will Gold retain its value? It will be plagued with devaluation right? This is exactly what NFTs are today, everyone can create theirs.

It is true that anyone can make their own NFTs, but that is not the point. Like everything else, some NFTs serve a purpose, some do not. Some are art, some are not. Some may be valuable to collectors, but others will not.
I don't think it's good to generalize things like that. Take the Internet and the World Wide Web for example, anyone today can create their own website, but that does not mean all websites are useless and worthless. And to expand on this analogy, back in the 90s, no one could have predicted the rapid development of the Internet over the next 20 or 30 years.

[Fivestar4everMVP]

Newbies, NFTs should be the first thing you fear the most in crypto space, look at bitcoin, its usefulness and scarcity makes it valuable, Look at real Gold it's very rare to see and this makes it valuable, imagine if everyone on this earth has Gold in their backyard will Gold retain its value? It will be plagued with devaluation right? This is exactly what NFTs are today, everyone can create theirs.

I totally agree with you mate, I currently own several NFTs, from crypto kitties, to Dego finance NFTs, to Money Tree, to several others I either bought or won, all this NFTs are there in my wallet with absolutely no means of selling any of them, one i managed to put up for sale has been there for over three months without a single buyer.
I will advice every newbie to stay far away from NFTs, NFTs are only useful for keeping and preserving important documents in the form of a digital signature, it is never meant to be sold for money.

[The Cryptovator]

NFT scam or not, but full of shit. I never involved myself with NFT it's useless to me from the beginning. So I wasn't interested in it. Though I heard many people made handsome money from NFT, still I am not interested. I am just wondering how still this NFT exists. It's like a gamble nowadays. Who knows if I failed to sell my NFT after buying it. Then total waste of money and seems like a pure scam lol. Not gonna gamble with NFT.

[wtsimis]

You just told slide bitter truth. NFT projects with fancy pictures are valueness without any utility or mechanism and now most of the NFT projects are running in the same process, without any utility.
The arts NFTs are also valueless in long term. Why we should buy any art, it must have uniqueness and designs. Without these things, any arts are the only pieces of shit.

[BIT-BENDER]

Well that’s not completely true, I believe that so many NFT are not just scam but are handled by very weak team that lacks all the needed experience but still not all NFTs are like this, it is a known fact that NFTs has made so much for many especially the early adopters but right now we see so many projects creating their own NFT market place, so we have more options of NFT but few of those NFT project has really potential and not easy to find them out.

[Rruchi man]

I understand your concerns OP, most persons rushing towards owning NFT's are doing so mostly because they know how most persons where in regret missing out on bitcoin then when it first started, so reason being that NFT's are new, they are flocking in mass to own any piece of NFT they can get their hands on. In this desperation, many have bought many valueless NFT's and in holding now seeing that it as a waste are calling it scams. Almost all, but not all are scams. People will profit from NFT's, people will still profit from crypto...but as a newbie, best advice is to invest and give more attention to crypto than NFT's.

 

Newbies, NFTs should be the first thing you fear the most in crypto space...

Also especially when you know your research skills are poor. 

[isaac_clarke22]

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Just like Upgrade00 replied, it is like just one of those days. I even recall people going crazy over IEOs as well.
Not all NFTs were scam, but due to how trendy it is, it is most likely to go to that conclusion before the hype dies out. Not sure when, but surely it is now slowly dying as I do not hear it a lot in social media unlike in the earlier days.

[decodx]

A lot of NFTs in both ETH and Solana markets are already worth hundreds of thousands of dollars, and these NFTs work perfectly fine for what they were created for but for many people they don't have a clear idea what are these NFTs really used for. NFT for me is a good idea, everyone could be selling some crappy token for USD but the NFTs are actually a good idea. An NFT can be digital art, collectibles, any kind of unique digital item, in fact the possibilities of NFTs may seem endless and the market for NFTs is only getting bigger. However, the vast majority of these tokens don’t have any use at all, other than you are selling them to try and make a quick profit from. It's all about the hype, speculation and a tiny little percentage of what NFT really are, but I don't believe that almost all NFTs are scam.

[hatshepsut93]

Not only NFTs are scam, they are also just garbage. People create them simply because they can and because someone might buy them. NFTs are not created to make the world better, to solve some problems with digital rights, to help artists - NFT is not a solution to anything, it's just another innovation for the sake of innovation and lining up the pockets of "innovators".

[pooya87]

This is exactly what NFTs are today, everyone can create theirs.

NFTs (or tokens in genera) aren't bad because anybody can make their own, they are bad simply because they are useless. There is a similar case with all the bitcoin copies and they don't offer any real utilities. Tokens are similar in the sense that they are only used to raise funds so that makes them pointless since you can raise funds using other means instead of creating a token.

[Marvell1]

As of now, I have seen no practical use for the NFT or real utility it offers, except for the hype surrounding it, which is all it has. Unfortunately, that's what newbies are looking for, they want to invest in something that can make them rich quick.
The bear market will be a test of whether the NFT is really worth investing in or if it's just the market's next dying trend.

Start with bitcoin if you are newbies, if you have no experience and don't have a lot of knowledge. Bitcoin can help you both make profit and avoid scams in the market.