Can NFTs last forever?

[albon]

I understand clearly the importance and concept of NFT in the Blockchain space but I believe it has been bastardised to a point. There seem to be no much value in the NFT space as people have abused the use of NFT.
There are also people who have real good value for their NFTs but the cluster of ingenuity and zero-value in that sector has strangled those who truly have purposes for NFT, this leaves me with a conclusion, I don't think NFT can last forever until it has some form of regulation.

I agree that if regulation is established for NFT projects and collections, this will create a good and secure environment for investors who prefer to own these NFTs. If standard conditions are applied to the creators of these NFTs, there will be a select few who will be able to showcase their collections on OpenSea and other NFT market platforms after meeting these conditions.

The NFT industry has recently witnessed many scam projects, especially meme coins projects, that have not offered any innovative or rare content for NFT collections, which could benefit their owners in the future. In addition, many other collections include NFT images with phishing links, deceiving investors into thinking they can stake these NFTs on this phishing site included in the NFT image they own. This field requires extensive research, but it does not mean that all projects are not good. Many projects have contributed to the growth of the NFT industry and utilized this new technology to keep up with their innovations and provide benefits to their communities without abusing the use of NFTs.

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[oktana]

I see a lot of comment against NFTs and what I can say is that it isn't so different from the physical art we see. There are artworks in real life that are sold for millions of dollars, so, in the same way, someone can count their money and pay for that, it shouldn't be surprising if people do it in the digital space. Personally, I have never bought an NFT and I will not buy it because I don't see how authentic it is when screenshotting takes less than 3 seconds. Unless there is a way for the NFT to be only useable by the owner, I do not see the essence of not simply screenshotting it away from the real owner. But let us also remember that some people buy NFTs just to flaunt wealth and take pride it in, so it is more than just the art.

[Abiky]

Unfortunately, it is true that most information about NFTs is on centralized servers, not on the blockchain, so one day we could lose all the information, however, NFTs remain a good investment even if they are high risk.

NFTs on the ETH blockchain are non-persistent. But it's a completely different story with Bitcoin Ordinals. I guess that's why these kinds of NFTs have risen in popularity lately. Who wants an NFT whose content can easily fade overnight? When you use Ordinals, you can rest assured the data of the NFT itself is stored on the BTC blockchain itself. If only NFT creators on the ETH blockchain did the same, the trend would no longer be a passing fad.

Considering that the whole NFTs space is driven by speculation, you could either win big or lose it all in an instant. Only time will tell us the fate of NFTs. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about. Just my opinion

[DeathAngel]

In general, I see all NFTs as a scam  I have never bought and probably will not buy NFT!

Yeah they are a passing craze in my opinion. I do not expect them to have as big a run up & FOMO period as we saw previously in 2020 & 2021. People will continue to buy them, some may even make good profits but overall they have zero utility & real world use. I would steer well clear of them, they are not a viable long term investment.

[masulum]

No doubt with those art values that have been minted as a limited edition and it's gonna be more valuable if they're from a world renowned artist.

Yeah, you're right. I have seen people boasts their profits having those type of NFT memes that have earned them a token and traded it and made money out of it.

Art is an important thing to consider before buying, don't focus on the hype. This is if we are just a prospective NFT holder. Sometimes, hype traps us into purchases that are expected to have utility but there is only just a paper without any execution. So it's best to focus on NFTs that have artistic value and were created by real artists. I have bought NFTs several times focusing on the hype (degen play), but the results were not like the hype on the tokens, and more were not profitable a.k.a NFT scams.

Earned NFT might be the right choice, as long as development continues, there is still hope, at least, if you hold the NFT you can still make a profit, apart from being able to sell the NFT itself you also get profit from generated token.

[Belarge]

In general, I see all NFTs as a scam  I have never bought and probably will not buy NFT!

Cryptocurrency is risky, everyone that's into the space already knows that and also aware of the dangers forthcoming to faced when these projects fall short to bearish season. NFT is a scam? Ofcourse not, even though I'm not into NFT but there are educated and acquainted sets of individuals who broadly understands the in and out of these space and have made massive projects from the system. Not everyone picks interest in Non-Fungible Tokens in the system, though there are specified number of traders that anticipates in NFT projects and they're making quite reasonable amounts.

[AakZaki]

Of course this is not a good investment, especially for the future. Because this investment only relies on hype, when there is no more hype it will just become a display, start to be abandoned, and start to be worthless.

This is similar to the phenomenon of the love wave plant. Initially, when it was hype, for some reason people dared to buy and sell it for millions to tens of millions, but when there were more and more "players" and "owners" of the plant, the price dropped, and it returned to being an ordinary plant. especially with the increase in new hype trends, just as NFTs will return to being ordinary images that have no price.

Never followed the NFT price craze until now, because I was too afraid to buy images from hundreds of dollars or even hundreds of thousands of dollars, it seemed crazy to me.
and when the NFT hype has ended like now then how much loss will there be for those who are still holding the NFT. Of course it is quite painful, it is difficult to rise to the previous highest price if the NFT has no utility. It will only be a display image in a digital wallet.

[Publictalk792]

It is true that the content associated with NFTs is typically stored on centralized servers the properties of the NFT itself are stored on the blockchain.
Some platforms are exploring decentralized storage options where the content associated with NFTs is stored on a distributed network of computers. These decentralized storage solutions aim to provide greater security and permanence for NFTs.
But these Bitcoin and others Altcoins or NFTs are working because of Technology. If Technology is here so they are working. If there will be WW3 so after that the Technology will go down. So we can't say anything. How much the will live.

[Zigabel]

The phrase "Nothing lasts forever" applies to everything, in as much as they may look very promising and sound like a very promising business and investment, they actually can't last for ever, tho they may stay over a long period of time and may be ideal for future investment, they still wouldn't last forever due to advancements and other factors that may surround them.

[Abiky]

It is true that the content associated with NFTs is typically stored on centralized servers the properties of the NFT itself are stored on the blockchain.
Some platforms are exploring decentralized storage options where the content associated with NFTs is stored on a distributed network of computers. These decentralized storage solutions aim to provide greater security and permanence for NFTs.
But these Bitcoin and others Altcoins or NFTs are working because of Technology. If Technology is here so they are working. If there will be WW3 so after that the Technology will go down. So we can't say anything. How much the will live.

WW3? What are you talking about? If there's a third world war, I seriously doubt BTC and other coins will take off. And NFTs will be completely out of the picture. But if you mean Web 3.0, then I'd say it still has a future. There's room for improvement to make NFTs (a part of Web 3.0) a "force to reckon with". It's just that developers are too lazy to do anything about it. Most of them only want to make a quick buck, leaving decentralization and immutability behind in the dust.

The tech is already there to make NFTs last forever. But the fact is that around 90% of NFTs are hosted on centralized servers. People will eventually lose their NFTs as creators/developers close up shop or move onto the next big thing in crypto. You can already see most NFTs are worthless these days. What you only get is the proof of ownership on the Blockchain. It will say you "own" the NFT, but the content/data will fade away into oblivion. At least, that's the case with the Ethereum blockchain these days. Bitcoin's Ordinals are the complete opposite of this. But it comes at a downside of higher fees and slower confirmation times. As they always say, "you get what you pay for". Maybe there's hope for the NFT industry after all?

[Bushdark]

The phrase "Nothing lasts forever" applies to everything, in as much as they may look very promising and sound like a very promising business and investment, they actually can't last for ever, tho they may stay over a long period of time and may be ideal for future investment, they still wouldn't last forever due to advancements and other factors that may surround them.

I think there is need for op to understand that nothing last forever even in the Crypto sphere. I just we have seen in this recent time when banking are going bankrupt with nothing left after customers start cashing out there funds from the bank. It is very important for people to know that the NFT market is huge but there are some certain projects that might not make it to anywhere after long time being in the market. Most project become rug pulled after the team had tried enough effort to send the project to the moon but it looksike there effort is not making any sense.

[jrrsparkles]

The tech is already there to make NFTs last forever. But the fact is that around 90% of NFTs are hosted on centralized servers. People will eventually lose their NFTs as creators/developers close up shop or move onto the next big thing in crypto. You can already see most NFTs are worthless these days. What you only get is the proof of ownership on the Blockchain. It will say you "own" the NFT, but the content/data will fade away into oblivion. At least, that's the case with the Ethereum blockchain these days. Bitcoin's Ordinals are the complete opposite of this. But it comes at a downside of higher fees and slower confirmation times. As they always say, "you get what you pay for". Maybe there's hope for the NFT industry after all?

The technology behind NFT is somewhat revolutionary compared to the shitcoins created all these years simply trying to replicate Bitcoin and other successful cryptos in one or another way.

But the hype around NFT is created by influencers which acted exactly as a bubble and it popped a long way back so all these projects became shit now and personally I don't feel there is any room for improvement to the technology from this point.

[Ben Barubal]

I understand clearly the importance and concept of NFT in the Blockchain space but I believe it has been bastardised to a point. There seem to be no much value in the NFT space as people have abused the use of NFT.

Anyone just comes up with the title of NFT and attaches little or no value to it, backed by nothing, without any history and then they want people to spend millions of dollar buying them.

There are also people who have real good value for their NFTs but the cluster of ingenuity and zero-value in that sector has strangled those who truly have purposes for NFT, this leaves me with a conclusion, I don't think NFT can last forever until it has some form of regulation.

  NFTs are not the only ones being abused by exploitative people who enter the field of the crypto space. Even other cryptocurrencies
and Bitcoin too, right?

  Now, in my opinion as well, as long as Bitcoin exists, NFT will not disappear, following other cryptocurrencies too for sure. Because if
the NFT were to disappear, it would have disappeared long ago. Haven't you noticed that no matter how much they say that NFT is bad,
it still remains in the crypto space? So, that's where you should wonder and think about that too

[Kensure]

NFT's may not last forever but digital art will.

[redsun114]

I see a lot of comment against NFTs and what I can say is that it isn't so different from the physical art we see. There are artworks in real life that are sold for millions of dollars, so, in the same way, someone can count their money and pay for that, it shouldn't be surprising if people do it in the digital space. Personally, I have never bought an NFT and I will not buy it because I don't see how authentic it is when screenshotting takes less than 3 seconds. Unless there is a way for the NFT to be only useable by the owner, I do not see the essence of not simply screenshotting it away from the real owner. But let us also remember that some people buy NFTs just to flaunt wealth and take pride it in, so it is more than just the art.

So if it's not different from the physical art then why so many people are against with it? And I see that even you, also doubt it because you think they are just a plain image or anyone can screenshot and stole it. For some unauthentic NFT's maybe, but the legit NFT's are hard to imitate or tampered. This is why there are still a demand for them.

NFT's are more than the physical arts which are mostly used for sightseeing or displaying purposes only but some NFT's works like a pass or key to access a special content. There is more than just flaunting wealth here in NFT's but some also use it to launder money. This is why it was also controversial.

[Sophokles]

If you are concerned about the data storage NFT's are using then technically it can be removed from the server. All these servers are centralized so after a few years they clean up old data That's why URLs from 10 years ago won't work any more. This is the reason some projects like Arweave and Filecoin work with decentralized data storage where you can store your data forever with one time storage fees. Even another popular blockchain project ICP is also working on the solution and they are doing better than the above two. I think this sector will have a high demand in the future when lots of DEX need to shut down or change their business model due to regulatory compliance. Most of the project will look for a decentralized storage solution.

[mich]

Well I did think all these people wanting NFTs was over. But now Disney company has partnered with Dapper Labs to to launch Disney Pinnacle.

It will be a digital pin collecting and trading platform. So when we think they will not last forever here comes Disney to try it again.

https://www.theverge.com/2023/11/14/23960535/disney-pinnacle-nft-dapper-labs-pin-collecting

[JayTrain]

I think as long as the blockchain works, then NFTs will always exist.  Also, the hype is not as bright as before, but there are still cool NFT collections that cost a lot of money and many people like it, but art should not interfere with speculation and fraud in this area.

[atamism]

NFT's may not last forever but digital art will.

Agreed, NFT may not last, but digital arts will last. Artists these days explores and I am really want to explore digital arts and really want to learn more about it. Maybe, this is the time I will start at least little by little.

Also, as long as there are people who support NFT it will last. I hope future generation will consider to adopt cryptocurrencies. The hype of NFT is not like before it started. Still lot of people are still into NFT and they know how to work with it.

[Marvelman]

NFTs ain't going nowhere, but all this hype around them probably gonna die down eventually.  They got folks all excited now, but that new car smell gonna wear off after a while once people figure out what's really good and  it's like anything new that pops off - mad hype at first that kinda balances out later.  But hey, even with less noise looks like plenty folks see some value in NFTs and are learning how to work that space.  As long as they find their lane, NFTs can stick around. 

Overall I'd say NFTs here to stay in some form, but won't always be blowing up the internet like now.  Things change.  But for real some of them NFTs is straight up jokes.  People paying for that? Come on now.  Anyway, point is itll mellow out but still got utility if you know how to use it right.  Crypto gang gonna keep doing they thing either way.