Can NFTs now be as successful as they were in past years ?

[SiliconHat]

It seems NFT projects are starting out again just like three years ago. I still remember when NFTs were the main deal, they were promoted to be the best option for investments then and most people felt they would never come across such opportunity again forgetting that crypto market is always evolving.

Though NFTs performed so well that a single digital art could sell for over $100,000 and i’m sure some were more expensive but fast forward to today that NFTs are so scarce i came across a blockchain MINT, that claims to be an Ethereum Layer 2 network designed to enhance the NFT industry. Having seeing it set to be listed soon on major exchanges (https://x.com/Mint_Blockchain/status/1896933357881368663) i had to go through its website. I came to realize how big its vision is for NFTs and i kept thinking if that industry can be as successful as it was in the past years.

[Charles-Tim]

The season bull run is filled with gambling tokens called meme coins. Most especially on Solana network. If NFTs will thrive like before, it ought to have been in 2924. I do not see anything better coming about this than what it is now. NFTs are no more new and the sales can not be like before.

[Dunamisx]

The Solana tokens are still fair compared to the Ton network, this has been seen as purely scam, NFTs are not on a wrong intention, infact they are more better than some of the memecoins new are seing been launched on several networks, only if we know how to make a good selection for the one that will not turned a scam at the end, we still have so many being successful till date, only that not all of knows about the most desiring selection criteria for such.

[Text]

NFTs definitely had their golden era but the market has matured and I think the new wave of projects will need more than just hype to succeed. Utility and innovation are key now. I checked out MINT Blockchain and for me it is not sufficient to help bring NFTs back into the spotlight. Mass adoption will depend on real-world use cases beyond just digital art. If projects can successfully provide the actual results not just expectations of its utility and use case and not only integrate NFTs into gaming, memberships and real ownership we might see another boom though probably not in the same way as before.

[pangu]

NFTs will be ‘even bigger’ than they were in 2021 — Animoca’s Yat Siu:
“When we’ve made money, we don’t spend it on making more money — we spend it on luxury goods. Nice house to live in, a car, new clothes, nice shoes. Right? These are not investments in a classical way. You can think of them as investments in your reputation.”

https://cointelegraph.com/news/animoca-brands-yat-siu-interview-bitcoin-mena-2024

[avikz]

It seems NFT projects are starting out again just like three years ago. I still remember when NFTs were the main deal, they were promoted to be the best option for investments then and most people felt they would never come across such opportunity again forgetting that crypto market is always evolving.

Though NFTs performed so well that a single digital art could sell for over $100,000 and i’m sure some were more expensive but fast forward to today that NFTs are so scarce i came across a blockchain MINT, that claims to be an Ethereum Layer 2 network designed to enhance the NFT industry. Having seeing it set to be listed soon on major exchanges (https://x.com/Mint_Blockchain/status/1896933357881368663) i had to go through its website. I came to realize how big its vision is for NFTs and i kept thinking if that industry can be as successful as it was in the past years.

NFTs can be successful only if they are launched by some global celebrity. Like if today Ronaldo launches his NFT collection, those will be sold for millions of dollars. Remember, I am only talking about real big celebrities and not Kayne West.

Apart from the celebrity backing, I don't think NFT has a real future. It will hype in and hype out from the market. But the chance of becoming super popular looks very slim. Thankfully people are slowly understanding that NFTs do not provide any real value for money.

[SiliconHat]

NFTs definitely had their golden era but the market has matured and I think the new wave of projects will need more than just hype to succeed. Utility and innovation are key now. I checked out MINT Blockchain and for me it is not sufficient to help bring NFTs back into the spotlight. Mass adoption will depend on real-world use cases beyond just digital art. If projects can successfully provide the actual results not just expectations of its utility and use case and not only integrate NFTs into gaming, memberships and real ownership we might see another boom though probably not in the same way as before.

Exactly…real world use cases and utility are the factors that can increase its influence. I personally won’t conclude on its performance yet till i study its impact after it launch. I think the reason it’s leveraging Bitget PoolX to give its community users more rewards before it get listed is to increase audience participation which could lead to higher influence in the market. We just have to wait though…

NFTs will be ‘even bigger’ than they were in 2021 — Animoca’s Yat Siu:
“When we’ve made money, we don’t spend it on making more money — we spend it on luxury goods. Nice house to live in, a car, new clothes, nice shoes. Right? These are not investments in a classical way. You can think of them as investments in your reputation.”

https://cointelegraph.com/news/animoca-brands-yat-siu-interview-bitcoin-mena-2024

If a figure like Yat Siu can make this statement, it kinda reassuring. Probably there’s something about the NFT industry we don’t know about. I wouldn’t be surprised if we see another NFT boom later in the year.

[moderator's note: consecutive posts merged]

[el kaka22]

Doubt so, NFT's aren't bigger, they are not even big, they are just tested and done already. People were excited about them for a while, but they are not anymore and we should be trying to stay away from them as much as possible, that is just how it is.

I understand that we are having some trouble right now, and it is not easy and I respect that because NFT holders are hating the fact that they lost so much money and they want to see their NFT's finally go back to what it used to worth, hell even half would be good at this point. But that is not going to happen because we are done with it and I do not think that we are going to see any changes soon, NFT's will stay being low and it is not going to be something that will be all that bad.

[Tipstar]

It seems NFT projects are starting out again just like three years ago. I still remember when NFTs were the main deal, they were promoted to be the best option for investments then and most people felt they would never come across such opportunity again forgetting that crypto market is always evolving.

Though NFTs performed so well that a single digital art could sell for over $100,000 and i’m sure some were more expensive but fast forward to today that NFTs are so scarce i came across a blockchain MINT, that claims to be an Ethereum Layer 2 network designed to enhance the NFT industry. Having seeing it set to be listed soon on major exchanges (https://x.com/Mint_Blockchain/status/1896933357881368663) i had to go through its website. I came to realize how big its vision is for NFTs and i kept thinking if that industry can be as successful as it was in the past years.

There are many hypes in crypto. I'd not say they were nothing and are gone but when something new comes in the crypto sector, people are so much attracted towards it as next big thing that it gets more attention and hence value than it requires. Like Defis. When they were new, people went crazy on buying defi tokens, they had relative success too but with rise in scams and legit defi not being able to grow, the defi market is stagnant since then. Defis are still active and doing what they are meant to do but the hype that it once created is gone.
Same are NFTs, they are still useful but not as big game changer as people predicted.

[shinratensei_]

i kept thinking if that industry can be as successful as it was in the past years.

most of NFT that still exists to this day are the top NFT in the market and NFT with utility, if you see opensea or blur market, you'd see the highest trading volume is going to the NFT with future potential airdrop, recent one is kaito and gemesis from open sea. it's completely different narrative compared to back then where value derived from NFT itself without underlying utility or future promise although value artificially inflated.
I don't think NFT will become as successful as it was in the past but I kinda like current state of NFT being used for airdrop and all.

[mich]

Well there was a time when the NFTs was something investors thought they could make alot of profit from. But then we did see it was all alot of hype and now there is not alot of hype around the NFTs.

But even now there is some NFTs that I do get in my wallet. But I just do not even want to try to get them becuase I think it can be a scam and I can lose all of my coins. I think now the new hype is the meme. But still I do think alot of them is just hype.

[Japinat]

I don't expect to see NFTs gain so much attention just like before. They might be reborn, but possibly people get doubt of it due to the losing performance and big scams in the past. It is something to say that people have already learned from the past, and it is difficult to trust a project that is the reason for their losses. Even if we say that it was listed already, that won't give assurance to the community and to the possible investors to make a good profit. As we can't ensure as well that it never happens again.

[Iamcrypticguy]

NFTs definitely had their golden era but the market has matured and I think the new wave of projects will need more than just hype to succeed. Utility and innovation are key now. I checked out MINT Blockchain and for me it is not sufficient to help bring NFTs back into the spotlight. Mass adoption will depend on real-world use cases beyond just digital art. If projects can successfully provide the actual results not just expectations of its utility and use case and not only integrate NFTs into gaming, memberships and real ownership we might see another boom though probably not in the same way as before.

Ermm yes you're right, but I believe mint is getting there. Since their mainnet went live, they've supported over 10 ecosystems. I went through their white paper also and it's loaded and this year could be the make it or break it year for them.. would keep an keen eye on this, starting with poolx. Tomorrow. Let's see how the price trend would fare

[Dotidot]

Around 2021 up until early 2023, NFTs were the hottest trend in crypto, I recall Pak’s The Merge selling for as much as $91.8 million. So many people made money. But later, the Solana meme era took off, and a good number still made fortunes.

In crypto, good opportunities can be rebranded and become profitable again. I've learned that positioning yourself well in this space ensures you'll always have chances to cash out.

So many people have their eye on $MINT. Personally, I am watching it closely to see what I can get.

[Lanatsa]

It seems NFT projects are starting out again just like three years ago. I still remember when NFTs were the main deal, they were promoted to be the best option for investments then and most people felt they would never come across such opportunity again forgetting that crypto market is always evolving.

Though NFTs performed so well that a single digital art could sell for over $100,000 and i’m sure some were more expensive but fast forward to today that NFTs are so scarce i came across a blockchain MINT, that claims to be an Ethereum Layer 2 network designed to enhance the NFT industry. Having seeing it set to be listed soon on major exchanges (https://x.com/Mint_Blockchain/status/1896933357881368663) i had to go through its website. I came to realize how big its vision is for NFTs and i kept thinking if that industry can be as successful as it was in the past years.

NFTs can be successful only if they are launched by some global celebrity. Like if today Ronaldo launches his NFT collection, those will be sold for millions of dollars. Remember, I am only talking about real big celebrities and not Kayne West.

Apart from the celebrity backing, I don't think NFT has a real future. It will hype in and hype out from the market. But the chance of becoming super popular looks very slim. Thankfully people are slowly understanding that NFTs do not provide any real value for money.

Not that really much anymore if we do tend to compare or having that observation when NFT hype still that remain hype in the market but it seems that once the hype and interest do come passed away then there's no turning back just like into those times where those ICO's are still that the main trend but now where we are now? Things have changed and things do really have those new trends and narratives on which this community is really that focusing on, or simply into the current trend on which the money is flowing and NFT isnt really that included on the list. This is why its not really that recommended that you would really be that trying out to deal up with some NFT hype of this current market condition on which we know that it isnt really that profitable as of this moment. It will really be having that hard time on making up some profits if you would be tending to dive on.

Somehow there's no way that we can assure that there will really be that no comeback that will happen. It will be basing up on community hype and interest because this will really be the main reason on why a certain trend will really be that touched up. For now then we do see that AI based coins will really be having that attention and also with having that NODE kind of trend on where this is where people do make money.
Getting successful is never been that guaranteed thats why its best that you should really be that investing on what you can afford to lose.

[nelson4lov]

No.

NFTs have peaked. We have seen a couple of time where nfts value went up but all those floor price increases were all driven by airdrop speculation. For instance, Pudgy penguins hitting over $100k in value and have since dropped to $22k. It was the same case for Azuki too. None of these projects have gotten any real traction again.

The days of having nfts just for the "vibe" and no utilities are long gone.

[ajiz138]

The season bull run is filled with gambling tokens called meme coins. Most especially on Solana network. If NFTs will thrive like before, it ought to have been in 2924. I do not see anything better coming about this than what it is now. NFTs are no more new and the sales can not be like before.

Imagine that last year a lot of memes were pumped and now they are starting to fall almost 90% including the $TRUMP meme so clearly memes are like gambling tokens, then NFTs are the same now nothing is worthwhile anymore.
Some new projects continue to innovate with the NFT market they provide but it's not like 3 years ago, now it's just a market need meaning the price is not too high for NFTs now.
No one is buying $50K NFTs anymore.

[oktana]

To be honest, i think it’s going to be tough for NFTs to hit the same level of success and hype as they did in the past. Back then, it was exciting and new, gave people the chance to discover a new world of digital arts and collectibles.
Currently, the markets very saturated, many more players in the game and takes so much to stand out. And people have gotten skeptical (the chances of people jumping just into anything with a fancy name and a promise of moonshot returns).
But again, I do think there’s still space for creativity and innovation in the NFT world. If people come up with unique concepts then yeah.
It would take a lot more effort to get people’s attention. If you’re passionate and put in the work, I think there’s still a lot of potential for growth and innovation.

[ultrloa]

The season bull run is filled with gambling tokens called meme coins. Most especially on Solana network. If NFTs will thrive like before, it ought to have been in 2924. I do not see anything better coming about this than what it is now. NFTs are no more new and the sales can not be like before.

Imagine that last year a lot of memes were pumped and now they are starting to fall almost 90% including the $TRUMP meme so clearly memes are like gambling tokens, then NFTs are the same now nothing is worthwhile anymore.
Some new projects continue to innovate with the NFT market they provide but it's not like 3 years ago, now it's just a market need meaning the price is not too high for NFTs now.
No one is buying $50K NFTs anymore.

People have seen so many scams and I think that's enough for them to trust for buying such huge amount for just NFT piece in the market. Whales provably would became more careful dealing when NFT's and just spend their money on other investment matters.

To many projects still like the idea about creating NFT's but sad reality it just losing fame to investors, although there are some project are successful launching their project but we don't know how long they can sustain their project and maintain its current prices. So overall it would really depends how deep the risk appetite of people towards investing on NFT's but for me I'm out with this scene and just want to spend more money on Bitcoin rather than these risky options presented by new players in the scene.

[Woodie]

Honestly I think the world has moved on, and AFAIK something new will pop up and everyone will jump on that...for now I don't think NFTs can rebound.
Btw I would have said stick to memecoins...but after seeing what Tesla is going through because of the politics surrounding Elon Musk I don't think memecoins like doge would be a safe space because it's top Shill has his followers going against him just to punish him, which technically writes all memecoins off.