The Future of NFT

[justdimin]

I looked at Coingecko and then the NFT section and looked the NFT arts that have been made all throughout the NFT hype.

Surprisingly, there are still volume towards the most famous ones like the Bored Ape, Cryptopunks, Mutant Ape and also that Trump Digital Trading Card that launched a few weeks ago. They still have a 24 hr volume meaning there are still people who are buying and selling it.

Now what is the future of NFT. I believe that it will be the same as DeFi where most of the NFT's whether it's an art NFT or game NFT where those who really want to stay will stay even though the hype is over. Those projects who really want to evolve and develop something will continue to develop. The hype is over for NFT's, but there will still be NFT's around for a long time for both arts and games.

I wouldn't be surprised because I still see NFT projects until now even though they are lesser than last year. They aren't completely dead yet like the ICOs. Big NFTs are also backed by rich individuals so they will support these NFTs until the end. These NFTs are mainly the ones that celebrities get because their reselling value is high.

I think NFTs have also upgraded and they now offer some perks to it's holders. This makes their game more exciting. If there are NFTs that will remain then I think that will be the NFTs which is related to metaverse. Metaverse is still new right? And it's said that it will be the future of technology so NFT's can also benefit with it.

[1714826162]

1714826162

[o48o]

I wouldn't be surprised because I still see NFT projects until now even though they are lesser than last year. They aren't completely dead yet like the ICOs. Big NFTs are also backed by rich individuals so they will support these NFTs until the end. These NFTs are mainly the ones that celebrities get because their reselling value is high.
-cut-

Well Initial Coin Offerings aren't really dead either, they just changed their form. When people first said they are over it was because they were all starting to be pointless scams.
People said that thank god that's over, never again, we are smarter now.

Then they started to talk about IEOs instead, which is exactly same thing as icos exept those tokens were sold in centralized exchanges, exchanges were supposed to have some quality control over them but in reality they didn't.

Then they started to sell them in decentralized exchanges and called them IDOs. Same thing again. Now they are calling them launchpads.

This is why it makes me smile a little bit when people say that NFTs are over. No they are not. If something they get regulated and change their shape a little and come back bigger then ever.

[Silberman]

Other than bitcoin and ethereum, there are no long-term investment-worthy projects in the market. Have you tried looking at the entire market, including bitcoin and top altcoins? Are there any projects that didn't plummet? We are in crypto winter, don't ask NFT project to increase the price. NFT will survive or not, we should wait for the next bull season, we'll see, I can't say if you're right or I'm right at this point.
As I said, as long as it can be used for the hype, it will always survive on the market.

NFTs are still not recovering and reaching their former glory as it is too soon for this to happen, the recovery of bitcoin has been impressive but still its price is very far away from its previous all time high, but I am sure once the market is immersed in a bull market then NFTs, meme coins and all those projects which do well when traders are willing to speculate in almost every coin will do well, it is just that this is going to take a long period of time to materialize, but make no mistake it will eventually happen.

[Chainsmokers]

Other than bitcoin and ethereum, there are no long-term investment-worthy projects in the market. Have you tried looking at the entire market, including bitcoin and top altcoins? Are there any projects that didn't plummet? We are in crypto winter, don't ask NFT project to increase the price. NFT will survive or not, we should wait for the next bull season, we'll see, I can't say if you're right or I'm right at this point.
As I said, as long as it can be used for the hype, it will always survive on the market.

NFTs are still not recovering and reaching their former glory as it is too soon for this to happen, the recovery of bitcoin has been impressive but still its price is very far away from its previous all time high, but I am sure once the market is immersed in a bull market then NFTs, meme coins and all those projects which do well when traders are willing to speculate in almost every coin will do well, it is just that this is going to take a long period of time to materialize, but make no mistake it will eventually happen.

The trend of NFT is currently down and it looks like it takes several factors to bring back the hype,
slowly indeed the price of Bitcoin is rising again even though there is still a possibility to go back down,
but at least with that I think it's good news.

[hyudien]

What do you guys think about the future of nft?
Many people think that nft is useless digital trash, but I have a different idea from them.
This is because many famous companies and platforms around the world employ blockchain developers and create related nfts in various fields such as art and sports.
I think it's now Nft's turn, just as Bitcoin has been treated as digital waste and its price has been upward.
Tell me what you think

What is clear is that Bitcoin cannot be equated with NFT or anything else. Do you think if Bitcoin is put on display and becomes trash, the results will be the same as NFTs which are useless and just a display of prices?

I think NFT is now polluted and we can no longer distinguish which ones really have a high value. Everything can be manipulated while Bitcoin until now cannot be manipulated. Do not equate something that cannot be equated in any case.

Simple questions that you might be able to answer quickly.

How fast do Bitcoins and NFTs sell when you put them up cheaply?
Which sells faster?
which one is more interesting to fans?
NFTs can last for months and may expire while Bitcoin does not.
If you have 1 NFT and 1 Bitcoin which one will be profitable fast?

[Yamifoud]

NFTs are still not recovering and reaching their former glory as it is too soon for this to happen, the recovery of bitcoin has been impressive but still its price is very far away from its previous all time high, but I am sure once the market is immersed in a bull market then NFTs, meme coins and all those projects which do well when traders are willing to speculate in almost every coin will do well, it is just that this is going to take a long period of time to materialize, but make no mistake it will eventually happen.

The trend of NFT is currently down and it looks like it takes several factors to bring back the hype,
slowly indeed the price of Bitcoin is rising again even though there is still a possibility to go back down,
but at least with that I think it's good news.

Not to wonder why because these projects are already rejected by most. Nobody will spend and risks their money on a project that we are not sure where it goes, we can't make money in digital arts, they are meant for collections only, not for investment. Well, I'm not sure if there is NFT hype again, their time is over, and it is somewhat impossible to happen again. Although all of these are just a sort of market assumptions and price prediction and it can be wrong or right, still I have no courage of having them.

[klidex]

Other than bitcoin and ethereum, there are no long-term investment-worthy projects in the market. Have you tried looking at the entire market, including bitcoin and top altcoins? Are there any projects that didn't plummet? We are in crypto winter, don't ask NFT project to increase the price. NFT will survive or not, we should wait for the next bull season, we'll see, I can't say if you're right or I'm right at this point.
As I said, as long as it can be used for the hype, it will always survive on the market.

NFTs are still not recovering and reaching their former glory as it is too soon for this to happen, the recovery of bitcoin has been impressive but still its price is very far away from its previous all time high, but I am sure once the market is immersed in a bull market then NFTs, meme coins and all those projects which do well when traders are willing to speculate in almost every coin will do well, it is just that this is going to take a long period of time to materialize, but make no mistake it will eventually happen.

In fact, I am not sure and believe that NFT can recover and return to its glory despite a bull market and rising bitcoin prices. For Altcoins, maybe everyone can follow the bull market and rising Bitcoin prices, but not with NFTs.
If you still believe and have faith in NFT, that is your choice and everything you will get in the future depends on your steps in the present because I personally am only wasting time and money if I still hope for NFT.
My advice is to choose Altcoin or Bitcoin only for the choice towards success in the future.

[maydna]

NFTs are still not recovering and reaching their former glory as it is too soon for this to happen, the recovery of bitcoin has been impressive but still its price is very far away from its previous all time high, but I am sure once the market is immersed in a bull market then NFTs, meme coins and all those projects which do well when traders are willing to speculate in almost every coin will do well, it is just that this is going to take a long period of time to materialize, but make no mistake it will eventually happen.

The trend of NFT is currently down and it looks like it takes several factors to bring back the hype,
slowly indeed the price of Bitcoin is rising again even though there is still a possibility to go back down,
but at least with that I think it's good news.

Not to wonder why because these projects are already rejected by most. Nobody will spend and risks their money on a project that we are not sure where it goes, we can't make money in digital arts, they are meant for collections only, not for investment. Well, I'm not sure if there is NFT hype again, their time is over, and it is somewhat impossible to happen again. Although all of these are just a sort of market assumptions and price prediction and it can be wrong or right, still I have no courage of having them.

The NFT trend now is over, but we don't know if this NFT trend can come out again in the following years and provide something new than before. Now the market has returned to its usual path where investors' focus is back on bitcoin and altcoins. With the crypto market conditions starting to improve, investors and traders have started investing their money in coins with more potential and have the opportunity to increase higher later than investing in NFTs.

[Hamza2424]

I am not sure about the NFTs as dear i am trying to say that NFTs was an air balloon thats it. The concept of NFTs was to promote the real implementation of the Blockchain technology to the real world. Their major use case what i was expecting was to introduce this concept for the validation of real products qhich ww buy from stores but NFTs went for the Spams as many spam projects destroyed the real concept of NFTs. Spam in term of Just membership cards in the form of NFTs that was not the real concept of NFTs.

[Xal0lex]

What do you guys think about the future of nft?
Many people think that nft is useless digital trash, but I have a different idea from them.
This is because many famous companies and platforms around the world employ blockchain developers and create related nfts in various fields such as art and sports.
I think it's now Nft's turn, just as Bitcoin has been treated as digital waste and its price has been upward.
Tell me what you think

Until NFTs start applying utilitarian properties, NFTs have no good future. Right now NFTs are just a speculative tool. It is a very risky asset for speculation, and very few NFTs are developing utilitarian properties. As soon as this technology applies these properties on a larger scale, it will live, but until then it will enjoy the notoriety of shitcoins, which depreciate very quickly.

[Natalim]

Might be harsh to judge the future of these projects but I guess we have also to think about what these projects can do for us. In fact, they are not profitable in real but just a sort of art collection. Whether it will stay in the market but all I can say is that we can't make fortune from them. If we aim to make money from investing in crypto, we are supposed to look for projects that could really give us what we aim for, not just to spend and get nothing.
As long as we can never see any interesting development form them, it won't encourage investors as well to invest with them.

[blockman]

Might be harsh to judge the future of these projects but I guess we have also to think about what these projects can do for us. In fact, they are not profitable in real but just a sort of art collection. Whether it will stay in the market but all I can say is that we can't make fortune from them. If we aim to make money from investing in crypto, we are supposed to look for projects that could really give us what we aim for, not just to spend and get nothing.
As long as we can never see any interesting development form them, it won't encourage investors as well to invest with them.

They've been profitable before but this is the cycle in the crypto market. Once a hyped project becomes profitable, soon its popularity will eventually be gone and it's hard to see it back again.
And on the case of NFTs, there could be some that shall survive but it will never be the same as high as before. The future of it is uncertain because we've been through the bear market and just as the ICOs/IEOs and others, they've never came back as lively as before.

[bitzizzix]

In my opinion, it is difficult to predict the future of NFT tokens, but one thing is for sure, they are here to stay.
and one of the important factors in predicting the future of NFT tokens is their ability to provide utility in games and other applications, if these tokens can be used in more applications then the demand will increase again, and may increase the price. And there is still the possibility of another trend, and it is still too early because the road to NFT is still long and there is a possibility that it will grow again, or disappear, because it is unpredictable.

[uneng]

Let's talk about those pictures since everyone is obsessed about them. Yeah you can own the exact copy of the jpg and print it on your wall if you want. Who cares? Do it right now. But you can't sell it because no one will buy it, even when it looks exactly like original. Not even when you make nft out of it. That's digital scarcity. You either want to be a part of history of digital scarcity or not. It's really up to you.

I really can't sell that, because nobody will have interest in purchasing, since just like me, they can also get a .jpg identical copy for free. On the other hand, you could never have an identical Monalisa painting copy for free. The market of art pieces can work only in physical format.

NFT artistic pieces are purely speculative and a method to launder money virtually.

I can't believe i ended up defending NFTs as i used to laugh at them in 2019 for the same exact reasons you told me.

I believe NFTs have a lot of potential, but inside online multiplayer games only, as they have unique usages on practice there.

[o48o]

I really can't sell that, because nobody will have interest in purchasing, since just like me, they can also get a .jpg identical copy for free. On the other hand, you could never have an identical Monalisa painting copy for free. The market of art pieces can work only in physical format.

NFT artistic pieces are purely speculative and a method to launder money virtually.

People who i know who are buying and selling apes and punks aren't laundering money. They are paying taxes for them, just like with altcoins.

But would that money laundering argument apply in altcoins and why they sell as well?
Because one could explain the whole reason of making new cryptocurrencies, building DeXes and having icos, ieos, and idos as just a method to launder money.

And of course buyers are speculating. Whole cryptocurrency scene is purely speculative so i don't know why NFTs should be an exception. They are just in tokens with a different protocol.

And i wasn't talking about art and i am not sure what Mona Lisa got to do with this. I was talking about scarcity and linking nfts to pictures. And market tells us that they sell and work perfectly in digital format. It doesn't really matter if you call those pictures art or not. And what's happening now is whole another thing, you really can't draw parallers to physical art. Not yet anyway as there's no legit blockhain system that would transfer rights to art, securities or anything like that with permissionless / KYCless systems. They just are what they are.

But originals keep on selling then even if those are the same exact picture. Because people are buying scarcity and history. Quality of that "art" is irrelevant and a bonus.
And i am really baffled why people hate nfts. It's just a protocol.

[Roboet]

Personally, I am an art lover so when I see artworks depicted as Nfts I feel excited.

That being said I see a solid future in web2 products transitioning into web3 this includes arts and content, and with some recently developed technology content creators can have their works of genius protected by a trusty app such as the CAPTURE APP of the Numbers protocol ecosystem.

Using this app even in the advent of works being exposed to robotics such works are already backed up and ownership is saved on the metaverse using blockchain technology.

So you see most of the nft fears are unnecessary, a lot could be achieved using web3 services.

[BitcoinTurk]

What do you guys think about the future of nft?

As an investor, who has been following NFT's for about a year and has a significant amount of NFT in my portfolio, I think that this technology has a future. However, it looks like it will take a long time for this to happen.

To talk about NFT projects in general, it is possible to clearly state that there are many waste and projects with no future, just like in the cryptocurrency market. For this reason, it is necessary to be very careful when making investments for the future, especially in this area where the transaction volume and the market are just forming. It is also very important to constantly monitor every long-term investment, because NFT prices vary depending on both crypto prices and traditional markets.

In summary, I think NFT technology has a future, but it needs some time to prove itself and gain popularity. In addition, it is clearly understood that not every NFT project has a future.

[Sayeds56]

What do you guys think about the future of nft?
Many people think that nft is useless digital trash, but I have a different idea from them.
This is because many famous companies and platforms around the world employ blockchain developers and create related nfts in various fields such as art and sports.
I think it's now Nft's turn, just as Bitcoin has been treated as digital waste and its price has been upward.
Tell me what you think

I am optimistic about the future of NFT sector, as its use case is growing continuously, many industries, such as the art, gaming, and collectibles markets, are already starting to adopt NFTs as a way to authenticate and sell digital assets which indicates that there is huge investor's interest in this sector.
It is also possible that  DEFI sector may start using NFTs as a way for representing ownership of digital assets. Despite all these positive development, it is worth mentioning that NFT market is relatively new, how it develops in future, remains to be seen.

[uneng]

People who i know who are buying and selling apes and punks aren't laundering money. They are paying taxes for them, just like with altcoins.

But would that money laundering argument apply in altcoins and why they sell as well?
Because one could explain the whole reason of making new cryptocurrencies, building DeXes and having icos, ieos, and idos as just a method to launder money.

In some cases it also applies. But regards altcoins, there is still a practical purpose on why we should acquire and hold them for real benefits.

And of course buyers are speculating. Whole cryptocurrency scene is purely speculative so i don't know why NFTs should be an exception. They are just in tokens with a different protocol.

True, but if you can speculate on something which has a practical usage it's more advised than speculating on NFTs which have as main argument the uniqueness of the pieces, although you can reproduce each of them for free with a simple print-screen function on your keyboard. The potential of these artistic NFT collections is the same potential of memecoins. Today they have demand, but tomorrow they might not have anymore, because it's exclusively about hype, instead of real benefits and application.

And i wasn't talking about art and i am not sure what Mona Lisa got to do with this. I was talking about scarcity and linking nfts to pictures.

That was an example of scarcity, originality that could never be replaced by a digital format of art.

And market tells us that they sell and work perfectly in digital format.

Because of the speculation which can last until tomorrow only, and not because those NFTs are considered outstanding art pieces. Speculative price can be 1$ million dollars, but artistic value of those NFTs is zero.

But originals keep on selling then even if those are the same exact picture. Because people are buying scarcity and history. Quality of that "art" is irrelevant and a bonus.
And i am really baffled why people hate nfts. It's just a protocol.

Regards NFTs, do you mean? In some months or years nobody will know what apes and punks are anymore and enthusiasts holding those pictures on their wallets are going to see their investments melting down... And that is not hate, just an alert for investors who are being deluded by this category of crypto investment.

[o48o]

In some cases it also applies. But regards altcoins, there is still a practical purpose on why we should acquire and hold them for real benefits.

Only real life practical purposes for altcoins i've seen so far can be summarized to transfer of value and storage of value. Yet people are mainly using them to speculate with volatility. Which in high enough quanties ironically defeats the purpose for transfering value or storage of value. You can use nfts for transferring value too, that value however will be even more volatile. Ironically again attracting those same speculators who could be speculating with altcoins but are now bringing more liquidity to nfts.

True, but if you can speculate on something which has a practical usage it's more advised than speculating on NFTs which have as main argument the uniqueness of the pieces, although you can reproduce each of them for free with a simple print-screen function on your keyboard.

We have already established that you can't reproduce them as collectables. It's like saying you can reproduce bitcoin by making your own chain that might as well be hosted only in your own computer. It would be identical yet, no one wants it.

The potential of these artistic NFT collections is the same potential of memecoins. Today they have demand, but tomorrow they might not have anymore, because it's exclusively about hype, instead of real benefits and application.

This is true yet it applies to any altcoin out there. Current applications are only worth something as long there are enough people using them. Not sure what benefits you are talking about.

Because of the speculation which can last until tomorrow only, and not because those NFTs are considered outstanding art pieces. Speculative price can be 1$ million dollars, but artistic value of those NFTs is zero.

Once again you are talking about artistic value. NFTs aren't about that. They are about tokens that are not fungible. People are not really "buying art" even though some people are acting as they are. They are buying tokens that are representing something. They are buying pictures in a sense they are buying links to files in ipfs. There are so far only few use cases for them. Reddit for exaample has already implemented nfts as avatars. When you use NFT avatars whey show up differently in your profile and you can't fake having nft as your user profile. But this isn't really about those either as infrastructure for making any practical use for nfts is not mature enough. We don't know what future holds but i am sensing it would be going to direction of profile pics like in reddit first.

And after tech like dusk is ready, we can make them represent actual physical things like securities.

Regards NFTs, do you mean? In some months or years nobody will know what apes and punks are anymore and enthusiasts holding those pictures on their wallets are going to see their investments melting down... And that is not hate, just an alert for investors who are being deluded by this category of crypto investment.

Well this is just you speculating. Some people also thought bitcoin and altcoins would be dead by now. And even icos were supposed to be dead but that just changed name and shape a little and came back with vengeance.