The fact that centralized entities are able to delist and therefore materially affect the prices of NFTs is also absurd.
E.g. I believe some BAYC owner was able to pressure Opensea into labelling some stolen NFTs as fraudulent.
While that in itself has nothing wrong with it, it inherently challenges the principles of decentralization. You are essentially catering for the ultra-rich elite and appeasing them whenever they fail to instate the necessary security themselves.
Topic: ㅤ - page 2. (Read 332 times)
IMO, all of these NFTs things especially for NFTs without any feature like Play2Earn.
More worst than ICO/IEO/Crowdfunding token, In token we can accept the loss and sell instantly because we have book order. Comparing to NFTs there is no single order book, If we have orderbook maybe only one offer and mostly just a joke offer like under 1$ or 99% from the current price.
That's the worst of this NFts things.
More worst than ICO/IEO/Crowdfunding token, In token we can accept the loss and sell instantly because we have book order. Comparing to NFTs there is no single order book, If we have orderbook maybe only one offer and mostly just a joke offer like under 1$ or 99% from the current price.
That's the worst of this NFts things.
almost every day I am surprised that some person sells a picture for hundreds of thousands of dollars or millions...and I think these are the ones who are lucky, most NFTs are not liquid, and it is not clear which NFT will become popular today, so this market is very risky and I would think several times before investing.
There are just few NTFs that can have a "real" value (maybe linked to some famous artist on real life)... Others are just blockchain trash created ad-hoc to scam people without knowledge of this field.
Good topic Ratimov, this should be pinned to allow every newbie following this section to have a clear overview of the market.It's a good discussion to avoid another drama like ICO Mania of 2017.
Good topic Ratimov, this should be pinned to allow every newbie following this section to have a clear overview of the market.It's a good discussion to avoid another drama like ICO Mania of 2017.
I'm not really interested in NFT, because it's clear that making money is not as easy as trading on an exchange. The reason is simple, that NFT is good at OpenSea which is mostly the biggest platform for now. First, I'm not an influencer who easily spreads photos about NFT's work on social media, especially Twitter, which is easier to spread. If we are going to start with NFT, then preparation for promotion is the main thing. Second, they don't care about the quality of their work because if they are promoted by big influencers, the price will go up and become trending on the surface of OpenSea. That's what I know so far about NFT marketing. You can see how garbage in NFT is scattered and no one buys it, that's because they only come when the trend has emerged, while the power of Influencers is No. 1 to promote an NFT.
Merit to OP for speaking the truth! NFT is a pure hype just like we had for ICO and Defi which eventually died a painful death after siphoning out billions of dollars from investors pocket. NFT is going to do the same thing, but on a larger scale. Majority of the people will burn their hard eanred money behind some stupid images.
Honestly, If someone has millions to invest in art, they must go for real paintings of known artists. An NFT winter is absolutely coming which may never get over.
I depends why you buy NFT. Also there are different types on NFT. If you buy cause you like the art then the price is not relevant so much. Other type of NFT that I buy is the NFT that have some use, being a casino token or some other type... Honestly, If someone has millions to invest in art, they must go for real paintings of known artists. An NFT winter is absolutely coming which may never get over.
Merit to OP for speaking the truth! NFT is a pure hype just like we had for ICO and Defi which eventually died a painful death after siphoning out billions of dollars from investors pocket. NFT is going to do the same thing, but on a larger scale. Majority of the people will burn their hard eanred money behind some stupid images.
Honestly, If someone has millions to invest in art, they must go for real paintings of known artists. An NFT winter is absolutely coming which may never get over.
Honestly, If someone has millions to invest in art, they must go for real paintings of known artists. An NFT winter is absolutely coming which may never get over.
IMO, I think Nft's are not to be considered as an investment but rather than a form of collections because NFT's are just a kind of digital art that's why it has no long term demand for it that's why in reality it is very true that the NFT's are just driven by temporary hype and after the hype was fade it leaves behind a trail of losses if those people who bought it was considered it as a form of investment. I totally agreed with the author's points of view!
Wash trading is pretty common with the new NFT projects coming out these days. Opensea and other similar platforms are partly to blame for this massive scheme becoming rampant.
These platforms clearly have the means to prevent this, like how OS removed the copied (left-facing) Bored Ape Yacht Club NFTs on their platform, yet they chose to turn a blind eye to most spams on their platform since they too profit on the increase in volume. I'm afraid that once the Metaverse hype really blows up and integrates their own NFT marketplaces, things are only gonna get worse.
These platforms clearly have the means to prevent this, like how OS removed the copied (left-facing) Bored Ape Yacht Club NFTs on their platform, yet they chose to turn a blind eye to most spams on their platform since they too profit on the increase in volume. I'm afraid that once the Metaverse hype really blows up and integrates their own NFT marketplaces, things are only gonna get worse.
Just like we see with bitcoin, majority of investors are motivated by hype and would not be interested if there is no fomo or the price is not skyrocketing. When bitcoins price is within the low range and going sideways or down, many tease bitcoin investors for their poor decision, when the price starts bulling upwards, those same people would buy at the top or wish it were cheaper so they could buy more.
NFT is another of such hype trap, lots of attention and money flowing around in it and many people wishing to get a little of the billions in marketcap, exposing them to scams.
NFT is another of such hype trap, lots of attention and money flowing around in it and many people wishing to get a little of the billions in marketcap, exposing them to scams.
All this NFT is just hype, it will pass and it will only be useful for the game industry and collectables of those early projects that started everything.
I don't see the any other future than that.
Wasting time and money for imaginary gains is 99% way to bankruptcy.
I don't see the any other future than that.
Wasting time and money for imaginary gains is 99% way to bankruptcy.
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