Are NFT drops profitable?

[Hypnosis00]

As time goes by, especially when prices are dropping everywhere, it is indeed very difficult to say that NFT is still worth it for now.
They grow because the hype is indeed very fast in its pace but on the other hand this fast hype stops quickly.
I haven't even seen a good NFT project for a few months this week.

The market is in need of new things. If people are being feed with the same thing for a long it won't interest them. People need different things, and such an effort is the NFT. Initially it feels tasty due to the hype, but very few lasts whereas the majority go valueless. Even now it is possible to see different NFTs around, but to own an NFT that is worthy we need to be lucky or else we should have the perfect knowledge to estimate the market for the specific NFT.

This is a problem that we face in the future and it happens that this will be the reason why people haven't seen crypto as a good investment anymore. We don't need hyped projects, new projects as they are the reason why many people lose their money investing in non-sustainable projects. We aim for a long-term investment that could give us profit but getting messed with these NFTs, it turns out like being hopeless. If this is the result that we can see, better not to have them at all.

[Oceat]

If I were you OP, I would do my own research about how NFT works and those who are giving it as an airdrop are trying to make their trend in on the market hoping there's someone who would pump their hype but at the end of the day, they are all the same. Doing rug-pull that most altcoins ever existed due to hype but no value or whatsoever when you bought it they're just simply a shit coin stuck in your wallet forever.

I thought NFT era was already done but I guess it's not yet done just like how ICO era in the past did.

[TastyChillySauce00]

I will never ever used NFT to flip. You are only arguing if NFT was good caused by you were taking the example from the successful NFT. Don't you make a comparison who many NFT available in the opensea compared with NFT that already traded by the NFT traders in daily basis?
NFT was an illiquid asset. You are taking a very very big risk by using NFT to trade. if NFT didn't have demand and this is not the same like when you are trading coin but it has no demand.
COin can be listed on exchange site but what about NFT? you are waiting buyer to come and it can't be used in the open market like token.

[adzino]

I have been seeing a lot of NFT drops on Twitter and I don't see that trend talked about on this forum. A lot of people are investing in and flipping NFTs instead of trading cryptos like we are. Have any of you had luck flipping NFTs or claiming NFT drops? Are the NFTs you collect art based only or also utility based NFTs like the NFT drop from MAXX Finance? Although it can be harder to sell NFTs in some cases (because there is no liquidity), the plus side is that you don't have to worry about which exchange you can sell your airdrop on (as is the case with token drops), you just sell them on major NFT marketplaces like OpenSea.

Those drops are not worth it. You are receiving it for free. Like you there are hundreds of people that will be receiving those NFTs for free. So unless you are very lucky, there is a high chance that your NFT will worth nothing unless some sort of random hype has been created.

-snip-
think this must be profitable for some people as you see NFT punks and apes trading for millions of dollars. What am I missing here and how do I get in on this trend?

I doubt NFT punks and those ape NFT's were dropped or given away for free. As far as I remember, you had to mint them for a fee. I doubt they would have worth the same if they were given away for free.

[LodisMcguire]

You have to read the article about that "jack dorsey's first tweet" NFT from $2.9 million to just $280 in span of one year.Looking at that case,you surely know now what NFT trade like.Even if you get easy NFT drop,doesn't mean you can sell it to get good profit.

[cryptoaddictchie]

Right now is bear market so expect a lot to go down and even nft cant escape the turmoil. Mostly nfts that are rekt or down are those common one. If you are gonna trade a good nft or flipped it then pick a bigger one that is majorly traded on different platform. Flipping nft is gamble and sometime you end up having wortless one so be wary which one to purchase. If you get lucky then some will give good profits but if not then expect to get rekt.

[RussiaUkraineTranslation]

I have been seeing a lot of NFT drops on Twitter and I don't see that trend talked about on this forum. A lot of people are investing in and flipping NFTs instead of trading cryptos like we are. Have any of you had luck flipping NFTs or claiming NFT drops? Are the NFTs you collect art based only or also utility based NFTs like the NFT drop from MAXX Finance? Although it can be harder to sell NFTs in some cases (because there is no liquidity), the plus side is that you don't have to worry about which exchange you can sell your airdrop on (as is the case with token drops), you just sell them on major NFT marketplaces like OpenSea. I think this must be profitable for some people as you see NFT punks and apes trading for millions of dollars. What am I missing here and how do I get in on this trend?

Still there's the hype for the NFTs?

I thought that they've been gone since the bear market has entered and despite that they've got a really nice year last year, it's no longer that ideal to invest with those.

As you've said, there's no longer liquidity on it so it means that there's no interest on it. No one shall stop you from collecting those NFTs that you're seeing but if you want to see its worth by selling it then there's no liquidity, that's nothing.

see if any potential coins grow when bear season has entered?, I don't see the NFT dead, it's all in a bear market and it's impossible to predict what's dead and what's going to last. Did you see facebook and twitter are creating their own NFT, binance is working with CR7 to create NFT collection. Will binance invest in a dying industry?

In regards to NFTs, I see most of the comments here geared towards art based NFTs, which are highly speculative, but utility based NFTs, like the ones from MAXX finance or Aloha DeFi, have a different value because they can be used in DeFi applications.

As far as fungibility is concerned, there are now platforms where you can tokenize and trade tokenized NFTs.

I consider NFTs something different than altcoins and I think it will eventually get its own section on this forum, its just a matter of time before investors here start to catch on.

One thing I saw highlighted in the comments was that free NFTs generally have no value vs ones that you have to pay for or there is a minting fee. I'm not sure if this is true but it could be. I think it has something to do with rarity. In the case of the MAXX NFT, I think they are giving away a limited amount and may sell more later when that initial suppy runs out, but I'm not 100% certain on that. It does say the supply is limited though. I think suppy does play a huge part in the value of NFTs on the market. It's like having a one of a kind picasso vs a reprint #55 of 2871617.

[Natalim]

Ive seen some sites do give out some free drops of NFT's which i dont see for it to be bad for someone to engage on as long you arent pouring too much money on it
then i do see the risk is way too less for someone to get a hold of.

if there is no money involved and it was just pure airdrops, there is no problem with that. But if we are urged to do a deposit before getting this, I don't think it was worth it. Well, I just hope

The idea of having these giveaways/free drops is to encourage people to invest. $10 is big enough for those who are jobless and certainly take this offer. But for us who are not new to this thing, we simply ignore it.

[Shamm]

As time goes by, especially when prices are dropping everywhere, it is indeed very difficult to say that NFT is still worth it for now.
They grow because the hype is indeed very fast in its pace but on the other hand this fast hype stops quickly.
I haven't even seen a good NFT project for a few months this week.

The market is in need of new things. If people are being feed with the same thing for a long it won't interest them. People need different things, and such an effort is the NFT. Initially it feels tasty due to the hype, but very few lasts whereas the majority go valueless. Even now it is possible to see different NFTs around, but to own an NFT that is worthy we need to be lucky or else we should have the perfect knowledge to estimate the market for the specific NFT.

I am not sure about NFT drop will give you a big amount of profit because as we all know NFT now a day's not let say project that give NFT will have a good amount because now adayds many scammers used NFT but yes what our forum mate said that there's a good project that give you nFT and that project is already proven and tested axie infinity will more profitable.

[Kelvinid]

NFT projects are drastically losing their value and I think that the use of free drops will help to attract investors. However, I couldn't find it more beneficial or even attractive to know that NFTS is almost out of the market and the interest of the people is down. Apparently, the trust and the so-called market potentials of these projects are very close to nothing. How much more to expect value with their free drops, not worth it to join anymore.

[sarmrakib]

Ive seen some sites do give out some free drops of NFT's which i dont see for it to be bad for someone to engage on as long you arent pouring too much money on it
then i do see the risk is way too less for someone to get a hold of.

if there is no money involved and it was just pure airdrops, there is no problem with that. But if we are urged to do a deposit before getting this, I don't think it was worth it. Well, I just hope

The idea of having these giveaways/free drops is to encourage people to invest. $10 is big enough for those who are jobless and certainly take this offer. But for us who are not new to this thing, we simply ignore it.

Its really hard to predict anything about on crypto. You can earn a lot from NFT and also you can loose everything you have.However i am agree with that point, it is really 10$ a big amoint who are not doing anything. So just one more thing can help you to research yoursle and invest where you can really get profit though it is so tought but you have to go through this.

[uneng]

In regards to NFTs, I see most of the comments here geared towards art based NFTs, which are highly speculative, but utility based NFTs, like the ones from MAXX finance or Aloha DeFi, have a different value because they can be used in DeFi applications.

As far as fungibility is concerned, there are now platforms where you can tokenize and trade tokenized NFTs.

I consider NFTs something different than altcoins and I think it will eventually get its own section on this forum, its just a matter of time before investors here start to catch on.

One thing I saw highlighted in the comments was that free NFTs generally have no value vs ones that you have to pay for or there is a minting fee. I'm not sure if this is true but it could be. I think it has something to do with rarity. In the case of the MAXX NFT, I think they are giving away a limited amount and may sell more later when that initial suppy runs out, but I'm not 100% certain on that. It does say the supply is limited though. I think suppy does play a huge part in the value of NFTs on the market. It's like having a one of a kind picasso vs a reprint #55 of 2871617.

It was already discussed in Meta forum section some time ago the possibility of creating a sub-board exclusive for NFTs, but most people were against it and the iniciative didn't get enough support and incentive. It was said NFTs belong to altcoins section, therefore it should be discussed here. And that conversation happened during the hype of NFTs, when they were at top. I imagine now NFTs are down, like the entire crypto market, the iniciative would make even less sense for forum members.

As you said, rarity (plus practical usage) plays a big role in NFTs' value. And considering free NFTs airdrops consist in several copies of each other to be distributed among hundreds of thousands of people, you can be sure it won't have any value on long run... I don't even know if it's possible to earn pennies from it, like through faucets, because who is going to purchase NFTs which are given for free and in large scale?

[virasisog]

Ive seen some sites do give out some free drops of NFT's which i dont see for it to be bad for someone to engage on as long you arent pouring too much money on it
then i do see the risk is way too less for someone to get a hold of.

if there is no money involved and it was just pure airdrops, there is no problem with that. But if we are urged to do a deposit before getting this, I don't think it was worth it. Well, I just hope

The idea of having these giveaways/free drops is to encourage people to invest. $10 is big enough for those who are jobless and certainly take this offer. But for us who are not new to this thing, we simply ignore it.

Its really hard to predict anything about on crypto. You can earn a lot from NFT and also you can loose everything you have.However i am agree with that point, it is really 10$ a big amoint who are not doing anything. So just one more thing can help you to research yoursle and invest where you can really get profit though it is so tought but you have to go through this.

It isn't a healthy season for NFTs since we're in a bearish season. I don't see any problem in receiving free NFTs but buying them would not be ideal for now. Most NFT projects these days are continuously losing their value even the ones that was on trend before. We could see if NFTs would really work when the market recovers or gets back to normal. Most projects still need more developments and improvements.

[Furious 7]

As time goes by, especially when prices are dropping everywhere, it is indeed very difficult to say that NFT is still worth it for now.
They grow because the hype is indeed very fast in its pace but on the other hand this fast hype stops quickly.
I haven't even seen a good NFT project for a few months this week.

The market is in need of new things. If people are being feed with the same thing for a long it won't interest them. People need different things, and such an effort is the NFT. Initially it feels tasty due to the hype, but very few lasts whereas the majority go valueless. Even now it is possible to see different NFTs around, but to own an NFT that is worthy we need to be lucky or else we should have the perfect knowledge to estimate the market for the specific NFT.

Now to improve NFT again, it seems that there are some who are indeed making collaborations with several public figures or Influencers which people will definitely look at to make personal gains like when I saw Binance collaborating with Cristiano Ronaldo and even Khaby Lame which does have a large fan base. definitely a lot.
But on the other hand, this is only temporary and increases the rating for some time.

[darewaller]

No, no they are not. Sure, there could be a few that look to be profitable, but those are few and rare in between. What we need to realize right now is the fact that crypto will not be something that is based on high risk anymore.

We already drooped so much in prices, and people would rather invest into more guaranteed stuff right now. This is why I believe that the best thing to do right now would be to just keep it going as much as we can, without having a huge fall. How do we do that? We end up not investing into NFT like stuff which are just hyped based, because there is no more hype left. And instead, we invest into stuff that are Bitcoin based and that's better.

[blockman]

I thought NFT era was already done but I guess it's not yet done just like how ICO era in the past did.

Sort of done but there's still some space on it. It is that too many NFT projects have also lied low due to the market's behavior and those NFT projects that are serious to stay longer, won't be kicked by the bears.
But instead, they continue to develop what they've started. Those that have already built their foundation and still got a community to refer to, they only need to keep going on and follow what they've said on the roadmap.

[zonefloor]

There are still people dealing with nft. But in my opinion, he no longer has his old form. Because the cryptocurrency industry is changing so quickly that technologies and fomos can change very quickly. The reason for the decrease in interest compared to previous periods may be due to the fact that the bear season is also starting. Because right now, people have lost their interest in many cryptocurrencies, especially bitcoin. Or let's say he is afraid to invest. I can't say what will happen in the coming days, but I think the nft market will not be the same as before.

[Ziskinberg]

I thought NFT era was already done but I guess it's not yet done just like how ICO era in the past did.

Sort of done but there's still some space on it. It is that too many NFT projects have also lied low due to the market's behavior and those NFT projects that are serious to stay longer, won't be kicked by the bears.
But instead, they continue to develop what they've started. Those that have already built their foundation and still got a community to refer to, they only need to keep going on and follow what they've said on the roadmap.

That is how the market evolves and those projects that have a solid market foundation remain standing despite any market condition. NFT, metaverses, defi, they all just have the same market view, some are already dead while the others are struggling hard to survive. But as well as look into their future though I'm not really certain about it, unfortunately, I'd never see good about it. This will discourage me from putting some money on them, they are out of my list actually for I think they are not worth to invest especially for long term.

[Oceat]

I thought NFT era was already done but I guess it's not yet done just like how ICO era in the past did.

Sort of done but there's still some space on it. It is that too many NFT projects have also lied low due to the market's behavior and those NFT projects that are serious to stay longer, won't be kicked by the bears.
But instead, they continue to develop what they've started. Those that have already built their foundation and still got a community to refer to, they only need to keep going on and follow what they've said on the roadmap.

That is how the market evolves and those projects that have a solid market foundation remain standing despite any market condition. NFT, metaverses, defi, they all just have the same market view, some are already dead while the others are struggling hard to survive. But as well as look into their future though I'm not really certain about it, unfortunately, I'd never see good about it. This will discourage me from putting some money on them, they are out of my list actually for I think they are not worth to invest especially for long term.

Well, you are right they aren't worth it to invest your money since their only way if you stays long on their market is down and there's no chance their market ever gonna surpass their ATH that shit ain't happening everywhere no matter where you look at. If I should've known I'd better put it in Bitcoin instead of risking it to them. Well, thanks to them I learned my lesson that most of them aren't really profitable it's more profitable in Bitcoin market if you know how the market works.

[Ansu5801]

The airdrops you are talking about seems not to be some official or legit airdrops, but if you find some than joining them will cost us no money but only time and we should join them if they are legit to gain some profit,  but as we know these are just graphical pictures with some value and some times with no value but they ask us to follow their twitter handles, which is almost free to them like they are gaining free followers by spending no money at the time,
So all of these airdrops could be a strategy to gain followers or email lists, well out of 100 airdrops some are real and there is only 1% chance that you will won it.