NFTs in the Real World

[wxa7115]

The possibility of establishing a market like that is completely gone, when NFTs were first introduced this is the first thing that came to my mind, since an artist that expresses their art mainly through a digital media does not have the advantages of those that use more traditional methods to create their art.

NFTs seemed like a great way for those people to monetize their talent and for collectors to finally become capable of fully owning a digital image, but scammers ruined the reputation of NFTs, and now I doubt there is anyone interested in collecting art this way.

I don't understand NFT collectors at all. For example, a picture can be hung on the wall, but what to do with NFT? Just knowing that you have a collection on your computer is ridiculous. In my opinion, NFT can have one use - proof of ownership for artists who work in the field of web design and film creation, advertising, etc.

I understand what you mean and if you were to ask me I think the main attraction of NFTs is not really as pieces of art or as a proof of ownership, but as vehicles for some people to launder money.

As with NFTs, those people can just create a bunch of NFTs and buy them with their own money, this creates the illusion that a transaction has taken place and they can declare those profits to the tax authorities of their country and make that money legal, when in fact no transaction took place as they just sold those NFTs to themselves.

[avp2306]

The possibility of establishing a market like that is completely gone, when NFTs were first introduced this is the first thing that came to my mind, since an artist that expresses their art mainly through a digital media does not have the advantages of those that use more traditional methods to create their art.

NFTs seemed like a great way for those people to monetize their talent and for collectors to finally become capable of fully owning a digital image, but scammers ruined the reputation of NFTs, and now I doubt there is anyone interested in collecting art this way.

I don't understand NFT collectors at all. For example, a picture can be hung on the wall, but what to do with NFT? Just knowing that you have a collection on your computer is ridiculous. In my opinion, NFT can have one use - proof of ownership for artists who work in the field of web design and film creation, advertising, etc.

I understand what you mean and if you were to ask me I think the main attraction of NFTs is not really as pieces of art or as a proof of ownership, but as vehicles for some people to launder money.

As with NFTs, those people can just create a bunch of NFTs and buy them with their own money, this creates the illusion that a transaction has taken place and they can declare those profits to the tax authorities of their country and make that money legal, when in fact no transaction took place as they just sold those NFTs to themselves.

Criminals now see a opportunity to make their transaction looks legal by having this and I really don't think what's the real essence of buying those super expensive NFT while this is just a doodle art or just a piece of pics which don't have any actual value. Maybe for other real artist decide to digitalize their creation yes we can agree that they have value but for other random NFT I don't get the point why people got crazy to acquire it.

I'm not fan buying any NFT art stuff that's why expect that I am always skeptical regarding on this. Although I understand that many people earn a lot of money here due to flipping but they should see how much the value of their last NFT and for sure they can figure out it almost got no value and no people willing to buy it again since the hype is over with those NFT's.

[bolshojkush]

The possibility of establishing a market like that is completely gone, when NFTs were first introduced this is the first thing that came to my mind, since an artist that expresses their art mainly through a digital media does not have the advantages of those that use more traditional methods to create their art.

NFTs seemed like a great way for those people to monetize their talent and for collectors to finally become capable of fully owning a digital image, but scammers ruined the reputation of NFTs, and now I doubt there is anyone interested in collecting art this way.

I don't understand NFT collectors at all. For example, a picture can be hung on the wall, but what to do with NFT? Just knowing that you have a collection on your computer is ridiculous. In my opinion, NFT can have one use - proof of ownership for artists who work in the field of web design and film creation, advertising, etc.

I understand what you mean and if you were to ask me I think the main attraction of NFTs is not really as pieces of art or as a proof of ownership, but as vehicles for some people to launder money.

As with NFTs, those people can just create a bunch of NFTs and buy them with their own money, this creates the illusion that a transaction has taken place and they can declare those profits to the tax authorities of their country and make that money legal, when in fact no transaction took place as they just sold those NFTs to themselves.

This is a very interesting opinion about the use of NFT in money laundering. But what about the fact that own NFTs should be evaluated by an independent party, because when checking the transaction by an interested party, they may ask the question - why exactly such an amount was paid for them?

[wxa7115]

I understand what you mean and if you were to ask me I think the main attraction of NFTs is not really as pieces of art or as a proof of ownership, but as vehicles for some people to launder money.

As with NFTs, those people can just create a bunch of NFTs and buy them with their own money, this creates the illusion that a transaction has taken place and they can declare those profits to the tax authorities of their country and make that money legal, when in fact no transaction took place as they just sold those NFTs to themselves.

This is a very interesting opinion about the use of NFT in money laundering. But what about the fact that own NFTs should be evaluated by an independent party, because when checking the transaction by an interested party, they may ask the question - why exactly such an amount was paid for them?

The world of art is full of those kind of movements, personally I would not have paid anything for any of the NFTs ever sold, and I am sure I am not alone in my way of thinking, but despite of this we saw some NFTs selling for millions of dollars, and I am pretty sure that most art collectors would agree that they were not worth that amount.

But things are worth whatever someone wants to pay for them, so even if a bunch of experts declared that the value of all NFTs was zero, if there is a market for them they will keep selling, giving those that want to launder money this way the perfect excuse to do it.

[YUriy1991]

Previously, the existence of non-fungible tokens or NFTs was a trend and they were competing in this space and a number of collectors also believed that this would be the next era of NFTs with the benefits they presented. Very enthusiastic.

For me personally, I may not just be focused, but I'm also following developments this year to see if there will be hype like last time.

[slashz9]

I don't have any wild experiences outside of gaming and art like you said, or is holding an NFT for a collection until it has no price a wild experience?
i have some nfts that i collect and the price dropped almost 100%

[yazher]

I don't have any wild experiences outside of gaming and art like you said, or is holding an NFT for a collection until it has no price a wild experience?
i have some nfts that i collect and the price dropped almost 100%

That's exactly what happening right now some people are facing charges due to the promises they made when they sell those NFTs and they are facing multiple charges because of it. Just like what most investors said in its earliest days, this trend will be subsided and eventually forgotten because there are lots of popular investment platforms that are being made throughout time while bitcoins and other cryptos are becoming popular in other countries and also in some big companies.

[huu78]

I still don't understand why a .jpg extension image is so hyped. The hype is not even dried down in 2023 as earlier it was being speculated that NFTs won't be in business for long term. I did not follow any projects when it came in existence and I am not following any project now. My friends are still into NFT and as per their saying its hype won't go down. Not sure about the real world usage.

the case is if it has a use like in a game, character or land, it still has a use but if it is just a display I also doubt what makes those nfts desirable, I mean just put money on the image and the value will go up, of course not, most of them dead.

[naikturun]

I think if it is connected to the digital world, then land, houses, vehicles and others are NFT assets in the real world, and people buy and sell them, but in the real world these items have a function, so they are always used and needed.