Is NFT and virtual real state project the biggest scam in past 3 years?

[cryptoaddictchie]

What concerns me the most is the fact that people are fooled so easily to believe on everything they end up investing in these NFT projects and real estate projects just to life in the virtual world but in real world these has no uses.

People become innovative and even on real estate it can be used the nft but unfortunately none succeed in developing one that is actually been useful enough to make it work. Some invest on this not because of use cade but potential hype or trend it could bring and they know that its not a good utilization for nft but they are just riding it. What nft can be used heavily is on digital asset land that totally works on some of gaming ecosystem. Perhaps, we cant really put nft on everything in the real world.

[1715104920]

1715104920

[1715104920]

1715104920

[1715104920]

1715104920

[1715104920]

1715104920

[deepblue01]

I don't think NFTs are useless or scams, they just ride the trend and eventually it will go down.
What really matters is the value. NFT's value depends on people who want to buy at a certain price and most NFTs are overvalued.

I think it depends on the thing you see something even in the real world, there are many types of collections worth millions of dollars in the auction.
Personally, I didn't get it and it's not worth it for me at least but I am open-minded and I embrace what it is even I don't understand.
Yeah, history bla bla bla and it sounds silly to me, and what if we compared in the digital world?
Right now we spend many hours per day in this Internet world, let's say the digital world.
Let's think the same thing and they think NFTs are collections, Does that make sense?

[kentrolla]

I don't think NFTs are useless or scams, they just ride the trend and eventually it will go down.
What really matters is the value. NFT's value depends on people who want to buy at a certain price and most NFTs are overvalued.

I think it depends on the thing you see something even in the real world, there are many types of collections worth millions of dollars in the auction.
Personally, I didn't get it and it's not worth it for me at least but I am open-minded and I embrace what it is even I don't understand.
Yeah, history bla bla bla and it sounds silly to me, and what if we compared in the digital world?
Right now we spend many hours per day in this Internet world, let's say the digital world.
Let's think the same thing and they think NFTs are collections, Does that make sense?

No, it still don't make sense to me because why would one spend hundreds and thousands and some even spend millions for a piece of digital art, I mean if you are buying a real painting or art works atleast you can exhibit it or keep it at your home or office but the same is not possible with NFT. I am not against people who invested into it for hype as it was a trend but when it comes to real life use case this is useless and those who have spent millions loos like money laundering.

[deepblue01]

-snip-

No, it still don't make sense to me because why would one spend hundreds and thousands and some even spend millions for a piece of digital art, I mean if you are buying a real painting or art works atleast you can exhibit it or keep it at your home or office but the same is not possible with NFT. I am not against people who invested into it for hype as it was a trend but when it comes to real life use case this is useless and those who have spent millions loos like money laundering.

Yes of course we agree on the price. It's doesn't make sense if they buying hundreds thousands or even millions and i won't even consider that thing as investment
But i don't know i don't spend my time checking the price right now and i think there are much lower now.
Of course they still can exhibit the NFT's in their own digital website or they call it metaverse?
emm about digital art or NFT's what ever you call it. I think it will stay just like altcoins, most of them will be gone and some will survive

[livingfree]

Let us say that a few of them are real and most of them are likely scams. It's true that every bull run that we're having some this type of hype from a new version of it like in the past.

This time, we might get some ETF things and we're going to see that with other altcoins as well. First we see it with Bitcoin from actual financial institutions, I mean the giant ones.

Next, we get ETH application for another ETF. So, with all of these projects seeing the trend, we might see the next ones to build up the hype for their projects.

And it's not going to be from them but they might pay these institutions to do just the application for them.

[Bushdark]

-snip-

No, it still don't make sense to me because why would one spend hundreds and thousands and some even spend millions for a piece of digital art, I mean if you are buying a real painting or art works atleast you can exhibit it or keep it at your home or office but the same is not possible with NFT. I am not against people who invested into it for hype as it was a trend but when it comes to real life use case this is useless and those who have spent millions loos like money laundering.

Yes of course we agree on the price. It's doesn't make sense if they buying hundreds thousands or even millions and i won't even consider that thing as investment
But i don't know i don't spend my time checking the price right now and i think there are much lower now.
Of course they still can exhibit the NFT's in their own digital website or they call it metaverse?
emm about digital art or NFT's what ever you call it. I think it will stay just like altcoins, most of them will be gone and some will survive

All I see here is trend and many devs are utilizing that to make money from their victims. I will not advise even my closest friend to invest such a big amount of money in a project that has no real value. Buying and holding NFT is good but when we are spending too much than what we are expected to on NFT project is ridiculous. We don't have to be spending so much money because of hype or trends.

[JeffBrad12]

honestly there are indeed many of such project that are scam, basically just trying to take advantage of the hypes, but i think the ones that are real, and what i mean by that is having real products and keep on developing, also exists.
however the trend itself about metaverse and its digital property are just a big bubble people are valuing it too high, its supposed just to become a new technology that could give real ownership towards the metaverse users and not something like pump and dump but people nature is that they like to speculate and when the bubble burst many people considering it as scam which I think is not as long as the product is still there, even there are still many metaverse games that still alive, its just a trend coming to an end I guess.
however one must know that this so called virtual real estate doesn't seem really a good idea, after all the land could just gone when the developer went out of business.

[Wahyuihib]

maybe if real estate projects are categorized with fraudulent projects I completely agree with your statement.  because several times I participated in prize programs from real estate-based projects, none of them were successful (never got to listing).  But if it's an NFT project, I still doubt it even though I don't have a concrete example for you

[deepblue01]

-snip-
however one must know that this so called virtual real estate doesn't seem really a good idea, after all the land could just gone when the developer went out of business.

maybe if they quit that's why we are looking for something that will work. the idea is good when the economy works there but i don't think it will work, i have never seen someone here buying land there.
look at the top 1 NFT's market
https://opensea.io/collection/boredapeyachtclub
The price is so random and some are very expensive and i don't know why people are buying, i still don't get it

[Hispo]

I believe NFTs have actual legitimate uses and possibilities within a digital ecosystem, but what happened in these lastest years had more to do with especulation and economical bubbles.
I am not sure how much money laundery has something to do with the exponential growth of the market capitalization of the NFTs.

Also, I believe it is a completely different situation to buy a NFT like asset like an Axie infinity creature that buying virtual land, which is obviously does not have any tangible value outside of the virtual world.
It would have been better if NFts were used to issue more practical things like cinema tickets or promotional tokens, instead of turning into what it was... Like it seems the term and idea of NFTs have become stigmatized.