NFTs in the Real World

[God bless u]

Now in same way NFTs are associated with a scam, ironically also by the same people (altcoin holders) that were defending crypto use cases to people who were associating cryptocurrencies as a concept with a scam.

I remember that ico projects used to be called scams. now the trend changed when nft appeared, I am not surprised to see this phenomenon.
in fact that perspective already existed in the past

At this point I believe we call every new thing scam at first. it is like human nature to not accept new things new invention so easily. but will end up using and adopting that eventually.
it happened with everything in Crypto. first with bitcoin. then ICOs and then NFTs. everything was once called Scams. (Most of the ICOs were actually scams tho)

Besides arts and gaming usage, I don't see too much utility for NFTs. Actually, even for arts it's worthless in my opinion. The only real usage for NFTs would be inside gaming industry. The concept of its implementation really made sense for me and I thought it was a great idea in theory, but in practice it didn't work as expected.

NO,That's not really true because i found something that they can bring real world item with NFT.
Check this out. https://pudgypenguins.com/
this is a toy for children, when you buy a toy you will get a pair of ntf.
there is a QR code on the toy which connect to NFT in pudgyworld

this is just a way to promote that toy brand. those NFTS still don't have any real world use. I don't think this is the right way to give NFTs a real-life utility. you need to find something else man.

My point is not about how to change people mind about NFTs. To be honest i never buy any NFTs so i don't have bad memory about NFT.
Btw i don't get what you think even i'm confused about what you expect. NFT is always on the internet man even most cryptocurrency right now doesn't a real-life utillity

That is exactly my point bro. NFT have no real world use as of now. they are just promoting their toy brand. nothing else.

[uneng]

It's an example of NFT introduced to gaming industry, like I said earlier. In this category, I believe NFTs have a real impact and can be useful, although here it's just a marketing strategy to sell expensive physical toys. In every cases, I wouldn't invest anything on this project yet, because it's not entirely developed yet. We have already seen and even trusted many raw projects which didn't deliver anything consistent after all. Must be careful with this. To be alive and under development since 2021, the project is too backward.

It's not like crypto that people can invest in. it's just a normal business without any tokens/coins to list on exchanges that people can speculate on

How isn't it? NFTs are crypto too. They might not be added to exchanges lists, but it's still a crypto investment, as people who acquire those penguin's NFTs expect them to gain more value futurely, so they can sell their non fungible tokens for a superior price than they bought.

If the project doesn't go ahead, that is: if the game development stops or doesn't become popular and if they don't manage to sell their physical products, people who bought the idea will lose money, just like investors who picked the wrong altcoins to invest in the past. It's the same situation, full of risks involved.

Considering the prices of the toys (30$ each), I really don't believe someone would purchase it for the same reasons which would lead them to acquire other toys in general. The speculative factor is present all the time. They pay 30$ for this, plus delivery fees, but they want to sell the freebies NFTs for 200$ later, for an example...

[oktana]

NFT took the digital world by storm but not in that way… one major thing that killed NFT was the hype. The NFT hype was just excess that people started noticing it was overhyped. Check the average NFT, At least for the ones I’ve been seeing, their values are dropping because it’s time has gone (the hype is dead). I think it should have slowly enter the market instead of storming in with all that noise. I know artistes and public figure who jumped into create their NFTs. Some of them already closed down their NFT store.

[JeffBrad12]

NFT took the digital world by storm but not in that way… one major thing that killed NFT was the hype. The NFT hype was just excess that people started noticing it was overhyped. Check the average NFT, At least for the ones I’ve been seeing, their values are dropping because it’s time has gone (the hype is dead). I think it should have slowly enter the market instead of storming in with all that noise. I know artistes and public figure who jumped into create their NFTs. Some of them already closed down their NFT store.

I think its not because they took the digital world by storm, its just most of the people are using it just simply for speculating or monkey business, thats why its getting easily abandoned before, because once the whale see no worth in it then they would instantly abandons it. its just like some meme coin that was used for pump and dump its just the technology is different and the scale is bigger.
if NFT was utilized properly its definitely gonna be an innovating technology and also would bring some change to the real world by taking advantage of the underlying technology but too bad it was
being misused for artificially inflating the price of some random arts, its really waste of technology to be honest.

[Wexnident]

NFTs have taken the digital world by storm. How do you envision non-fungible tokens impacting industries beyond art and gaming? Share your wildest NFT use-case scenarios!

Wish it never comes back. Really. Regardless of how the industry wants to develop the NFT scene to something proper, some people will always come and turn it into something similar to what the art scene has, and, well, since money is a big influence to it, it's rather easy to do so. I still see some artists doing some proper NFTs but they're in the minority at this point. As for any other use case, I'd expect something similar to videos or something next lmao. As for real world, that's just not NFT anymore, that's just your average item paid with crypto.

[Belarge]

NFT took the digital world by storm but not in that way… one major thing that killed NFT was the hype. The NFT hype was just excess that people started noticing it was overhyped. Check the average NFT, At least for the ones I’ve been seeing, their values are dropping because it’s time has gone (the hype is dead). I think it should have slowly enter the market instead of storming in with all that noise. I know artistes and public figure who jumped into create their NFTs. Some of them already closed down their NFT store.

The market is broad, alot of sectors have stop working because they've failed to generate the necessary liquidity and thereby forcing most of these sectors to fold up. The crypto sector that's booming is altcoin, future trading and bitcoin, earning is constant and recording losses depend on the serious level of trader. I've heard about NFTs perhapes it have its season when it was bullish all through and put alot of other crypto projects on hold, how come it shoots to the moon? Non-fungible Tokens was overhyped right from the very start, the investors who thought they could make gigantic figures were the ones asking question and developing doubts of the project.

[deepblue01]

How isn't it? NFTs are crypto too. They might not be added to exchanges lists, but it's still a crypto investment, as people who acquire those penguin's NFTs expect them to gain more value futurely, so they can sell their non fungible tokens for a superior price than they bought.

Oh, S**t. do you really believe that someone will buy secondhand toys in the US just because it's an NFT too?
Maybe you are right, if you want to be right

If the project doesn't go ahead, that is: if the game development stops or doesn't become popular and if they don't manage to sell their physical products, people who bought the idea will lose money, just like investors who picked the wrong altcoins to invest in the past. It's the same situation, full of risks involved.

You basically saying that anyone who buy Toys are investment?
The Toys is a doll if you already research about that.

Considering the prices of the toys (30$ each), I really don't believe someone would purchase it for the same reasons which would lead them to acquire other toys in general. The speculative factor is present all the time. They pay 30$ for this, plus delivery fees, but they want to sell the freebies NFTs for 200$ later, for an example...

I think in the US it's normal price. I saw many Toys are more expensive than that.
Btw, where is to sell that freebies NFTs? please help me,i can't see anything in the website

[Sophokles]

NFT took the digital world by storm but not in that way… one major thing that killed NFT was the hype. The NFT hype was just excess that people started noticing it was overhyped. Check the average NFT, At least for the ones I’ve been seeing, their values are dropping because it’s time has gone (the hype is dead). I think it should have slowly enter the market instead of storming in with all that noise. I know artistes and public figure who jumped into create their NFTs. Some of them already closed down their NFT store.

What killed NFT is a lot of scam NFT offering which died down after sometimes. Even look at the top NFT project which was overpriced and now it loses value like crazy. The technology NFT is offering can be used in very unique way but we need a unique mind to add more value to it. But instead what most of the NFT project do is to promote it as a money making machine. I saw a digital picture sold for millions of dollars that has no usecase at all. Because of all this, investors turned away from NFT.

[oktana]

NFT took the digital world by storm but not in that way… one major thing that killed NFT was the hype. The NFT hype was just excess that people started noticing it was overhyped. Check the average NFT, At least for the ones I’ve been seeing, their values are dropping because it’s time has gone (the hype is dead). I think it should have slowly enter the market instead of storming in with all that noise. I know artistes and public figure who jumped into create their NFTs. Some of them already closed down their NFT store.

What killed NFT is a lot of scam NFT offering which died down after sometimes. Even look at the top NFT project which was overpriced and now it loses value like crazy. The technology NFT is offering can be used in very unique way but we need a unique mind to add more value to it. But instead what most of the NFT project do is to promote it as a money making machine. I saw a digital picture sold for millions of dollars that has no usecase at all. Because of all this, investors turned away from NFT.

What you said would have been perfect except the first sentence ruined it. There’s always scam in everything. There’s always that down side that try to bring that thing down. So, a lot of scam NFT offering didn’t kill NFTs, what killed it was too much hype. They make it feel like it’s worth buying a piece of digital art for a lot of dollars, but can’t show you the value or make it feel really special. NFT was presented like it’s just a way to make millions, forgetting that people are seeing this motive and with this they can change their mind from buying or investing in NFTs.

[dezoel]

NFTs have taken the digital world by storm. How do you envision non-fungible tokens impacting industries beyond art and gaming? Share your wildest NFT use-case scenarios!

Wish it never comes back. Really. Regardless of how the industry wants to develop the NFT scene to something proper, some people will always come and turn it into something similar to what the art scene has, and, well, since money is a big influence to it, it's rather easy to do so. I still see some artists doing some proper NFTs but they're in the minority at this point. As for any other use case, I'd expect something similar to videos or something next lmao. As for real world, that's just not NFT anymore, that's just your average item paid with crypto.

OP seems into NFT but you are the opposite of it. Please let me know, what NFT's did to you on why you seem to curse them . NFT was first introduced related to gaming but later on, many variations have came out. When we hear the word NFT, we automatically think of a digital art. So, it's no surprise on why some people are like that or wants to turn the NFT, similar to the art scene that we have in the real world.

There are huge money flowing in the NFT scene but even without it, it is still easy to transform something into a digital art. NFT's has their own use cases. If you are not new in here and you have done your research about them, you will know if what they are. I won't say they are the same with a typical crypto.

[Motu_verse]

In our view, currently, NFTs, despite their popularity, have limited value, especially beyond gaming applications and digital art. In most cases, their value is confined to the interest of a narrow audience of enthusiasts or speculators

However, it's worth noting that we may be just beginning to see the potential of NFTs, and in the future, they could find applications in broader areas. For example, NFTs could become an integral part of identification systems in various fields, such as personal identity, access, and actions. Similar to the MultiBanco system in Europe, where you can provide a third party with a special code to withdraw money from your bank account, NFTs can ensure security and transparency in such operations

However, one of the main obstacles to integrating NFTs into real life and unlocking their full potential is their current gray area. Therefore, it's simply not possible to connect them with the real world at the moment. Perhaps, once this happens, thousands of developers will offer their use to the world, not only for games or digital

[o48o]

Besides arts and gaming usage, I don't see too much utility for NFTs. Actually, even for arts it's worthless in my opinion. The only real usage for NFTs would be inside gaming industry. The concept of its implementation really made sense for me and I thought it was a great idea in theory, but in practice it didn't work as expected.

NO,That's not really true because i found something that they can bring real world item with NFT.
Check this out. https://pudgypenguins.com/
this is a toy for children, when you buy a toy you will get a pair of ntf.
there is a QR code on the toy which connect to NFT in pudgyworld

I might be missing out the point here. It's a physical toy. It doesn't have any need for nft. I mean what would i even with do with the NFT token in here? If i trade it, it's still connected to my physical toy. Why would anyone want it or why it would have any value without the physical object? Is it supposed to be just a proof of authenticity? I think it's an overkill in every way. And are we supposed to trade these toys by mail and just trust the buyer or seller? And if the private key gets lost, i am guessing that the physical toy wouldn't have any value.

[wxa7115]

What killed NFT is a lot of scam NFT offering which died down after sometimes. Even look at the top NFT project which was overpriced and now it loses value like crazy. The technology NFT is offering can be used in very unique way but we need a unique mind to add more value to it. But instead what most of the NFT project do is to promote it as a money making machine. I saw a digital picture sold for millions of dollars that has no usecase at all. Because of all this, investors turned away from NFT.

What you said would have been perfect except the first sentence ruined it. There’s always scam in everything. There’s always that down side that try to bring that thing down. So, a lot of scam NFT offering didn’t kill NFTs, what killed it was too much hype. They make it feel like it’s worth buying a piece of digital art for a lot of dollars, but can’t show you the value or make it feel really special. NFT was presented like it’s just a way to make millions, forgetting that people are seeing this motive and with this they can change their mind from buying or investing in NFTs.

It is true that regardless of the market we are talking about there are always scams going on, since scammers are attracted to any market which could produce them short term profits, but at the same time we need to recognize that the number of scams on the NFT market was intolerable.

And when you take into account the enormous hype there was around it, this further added to the disappointment people felt about the market, which is what caused the interests on NFTs to go down, and so far it has not recovered.

[Bushdark]

Besides arts and gaming usage, I don't see too much utility for NFTs. Actually, even for arts it's worthless in my opinion. The only real usage for NFTs would be inside gaming industry. The concept of its implementation really made sense for me and I thought it was a great idea in theory, but in practice it didn't work as expected.

NO,That's not really true because i found something that they can bring real world item with NFT.
Check this out. https://pudgypenguins.com/
this is a toy for children, when you buy a toy you will get a pair of ntf.
there is a QR code on the toy which connect to NFT in pudgyworld

I might be missing out the point here. It's a physical toy. It doesn't have any need for nft. I mean what would i even with do with the NFT token in here? If i trade it, it's still connected to my physical toy. Why would anyone want it or why it would have any value without the physical object? Is it supposed to be just a proof of authenticity? I think it's an overkill in every way. And are we supposed to trade these toys by mail and just trust the buyer or seller? And if the private key gets lost, i am guessing that the physical toy wouldn't have any value.

There are so many things that are happening in the NFT market and we need to be wise so that we don't end up investing in projects that have not value at all. Some many people are creating images and art attaching them to inanimate things around us.
I don't really get it why a dol art will be created for the sake of people buying it and holding for as long as possible. We need to be wise and take decisions when necessary so that we don't do things that we could regret about later.

[justdimin]

NFTs have taken the digital world by storm. How do you envision non-fungible tokens impacting industries beyond art and gaming? Share your wildest NFT use-case scenarios!

I never understood why would someone pay a million dollars for a picture which can be simply copied and used. I know every NFT is unique but why would you pay a million dollars when you can save the image and use it anywhere you want. To me, it is equivalent to paying a million dollars for a wallpaper which was available for free on the internet and you didn't want to use it professionally, in which case it may make more sense.

I see monkey face NFTs being traded for a million dollars and some even more. It's just a race people are getting in without thinking twice about what they are buying because no way in hell these pictures deserve what people are paying. But I am not an artist so I'll shut up, I wouldn't have trusted BTC in 2010 either .

[oktana]

What killed NFT is a lot of scam NFT offering which died down after sometimes. Even look at the top NFT project which was overpriced and now it loses value like crazy. The technology NFT is offering can be used in very unique way but we need a unique mind to add more value to it. But instead what most of the NFT project do is to promote it as a money making machine. I saw a digital picture sold for millions of dollars that has no usecase at all. Because of all this, investors turned away from NFT.

What you said would have been perfect except the first sentence ruined it. There’s always scam in everything. There’s always that down side that try to bring that thing down. So, a lot of scam NFT offering didn’t kill NFTs, what killed it was too much hype. They make it feel like it’s worth buying a piece of digital art for a lot of dollars, but can’t show you the value or make it feel really special. NFT was presented like it’s just a way to make millions, forgetting that people are seeing this motive and with this they can change their mind from buying or investing in NFTs.

It is true that regardless of the market we are talking about there are always scams going on, since scammers are attracted to any market which could produce them short term profits, but at the same time we need to recognize that the number of scams on the NFT market was intolerable.

And when you take into account the enormous hype there was around it, this further added to the disappointment people felt about the market, which is what caused the interests on NFTs to go down, and so far it has not recovered.

Of course the scams actually matters as it has its own effect. But I just feel the hype did a lot more damage by ruining expectations. NFTs has not recovered like you said and I do not think that they’ll be recovering, unless it is recreated with a different idea and presented differently. The hype is dead and I don’t believe anything can hype it back to the way it was when it came out. Many people who were so hyped about NFTs didn’t even know what they were, they thought it was all about creating monkey faces and avatars.

[Kelward]

NFT? Aren't they dead? Well, I don't see NFT as a proper way of investment. Instead, I see them as a trend that has game and gone after some time leaving people with nothing. There was a hype at the beginning but right now I don't see much movement in the NFT market.
So them coming back for making a change or impact in the market seems like a fairy tale. The Golden era of NFT has died and I don't think it will ever come back. And it is also hard to make real life NFTs. You cannot input blockchain data in real life object. They can be cloned or copied so there's no way for a proper validation.

I've always wondered about the essence of NFT projects as investment in the long, I've never been a part of any of their communities because I really don't understand their vision, all I see is their focuses on games and arts. I guess they'd have to sale a masterpiece to a very rich art enthusiast or a celebrity to earn their tokens, my concern is that the art piece can be duplicated and anybody can have it, except the buyer keeps the original. I'll agree with you that NFT is a trend, and if they don't add any new innovations, then they're as good as dead, with investors funds going down with them. I don't know much about NFT so don't take my words as facts.

[tbterryboy]

It depends on how the digital world embraces the technology and whether people will approve the usage of NFTs in different sectors of life. If we talk from a trading perspective which is buying and selling NFTs for a profit, I would say it has already failed in that area because we have seen hundreds of NFT projects not performing up to the expectations of people who bought them thinking they can sell them for a higher value but they dropped in value significantly. One example of that is the Cristiano Ronaldo NFT collection which caused its investors to sue the football celebrity for the failed NFT collection.

However, NFT can have use cases in various real-life sectors where it can be used as a way to store and exchange value as a form of digital collectibles such as schools, hospitals, offices, and many other places where NFTs can be used to provide certain accesses and stuff based on what NFTs different people own in their wallets.

[Games.Bitcoin]

Non Tangible Tokens (NFT) have redefined ownership and commerce in the real world. This blockchain-based technology will have a lasting impact on how we perceive and transfer value in various areas of the physical world. Non Tangible Tokens (NFTs) have drawn public attention to crypto currencies for their real-life uses in fields such as digital art, games, music, and video.

[JeffBrad12]

I've always wondered about the essence of NFT projects as investment in the long, I've never been a part of any of their communities because I really don't understand their vision, all I see is their focuses on games and arts. I guess they'd have to sale a masterpiece to a very rich art enthusiast or a celebrity to earn their tokens, my concern is that the art piece can be duplicated and anybody can have it, except the buyer keeps the original. I'll agree with you that NFT is a trend, and if they don't add any new innovations, then they're as good as dead, with investors funds going down with them. I don't know much about NFT so don't take my words as facts.

thats honestly should be a concern here, an NFT art, we still don't know whether there's any legal binding that could protect the original creator of the art from getting their art copyrighted by other people, we've seen so many such acts in the NFT platform like opensea where people quite literally just reuploading things that are created by other artists and try to profit off it.
such thing should not be happening if there's any protection for the original NFT creator that have the rightful ownership of such NFT.
i wonder if an artist could somehow prove that the NFT is theirs, how can they fight against those trying to duplicates.