95% of NFTs have a market cap of zero

Bushdark

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Quote from: Belarge on December 13, 2023, 04:16:30 PM

Quote from: batang_bitcoin on December 13, 2023, 08:20:42 AM

Will this change when the bull run comes? Seems that the altcoins market is ripening and rich again but I don't know what's with the NFT scene if they're flourishing and going back to what they used to be. If there's no movement at all even in the bull run and that 95% remains the same for the majority of the NFTs then, it just means that there is no hope anymore from them and they're likely dead at all as people look forward for another place to invest into this market aside from btc and alts.

Bitcoin is on another chart and different from altcoins in the space. Altcoins have brought in more volatility season of the market, we can not easily predict the market because there are presence of top coins which are very popular to the investors and traders, and there's good time to carry out operations of findings concerning a project. 95% of Non-Fungible Tokens have the basic units of market cap and it does applies to their roadmaps. NFTs have their specified season of running bullish moves in the system, though it doesn't come in as expected but it do triggers when everyone hope for a heavy pump in the market.

Investing in NFT projects can be very risky nowadays because I have seen that many NFT projects these days easily crash out of the market. We need to put our money on reputable NFT projects that is going to stay in the market for a long period of time.
Investing in NFT projects is not like before when we can invest and hold our NFT for as long as possible and the price will not depreciate like we are seeing now in the market. We need to open our eyes and not fall scam to many NFT projects that was launched to steal from investors.

Abiky

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Quote from: o48o on December 13, 2023, 07:06:55 PM

You might as well ask will this change to altcoins, because there are percentually and numerically way more dead altcoins then there are dead NFTs. Nfts just feel more stupid because there are often stupid pics linked into them, and liquidity sucks. But same could be said about most altcoins. If whale wants to exit, liquidity in many of them will not be enough to sustain the price level without flooring -90%.

Imho people making fun of nfts are like nocoiners making fun of crypto holders. Principle is the same. Focusing on the negative is easy because there are ton of things to point at. But i can't see any reason why same percentage of nfts wouldn't rise with altcoins. Dead nfts most likely stay dead, just like most dead alts stay dead.

Unlike altcoins, NFTs are a passing fad. They appear once to enrich early adopters and creators, only to go down the drain in an instant. While something similar happens to altcoins (particularly those called "shitcoins"), their open source design allows developers to build other projects with usability in mind. I see no use for NFTs, except for in-game items (weapons, clothing, etc).

The vast majority of the NFT market is speculative, anyways. It's this reason why 95% of NFTs are dead. The hype moved from ETH and SOL chains into BTC. Now the BTC blockchain is being flooded with useless Ordinals NFTs. They're doing more damage to the crypto/Blockchain industry than anything else. Who knows if the concept of an NFT becomes a failed experiment in the long run? Cheesy

JeffBrad12

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Quote from: kentrolla on December 13, 2023, 11:28:22 AM

It may flourish ony during bull run as people will be bothered only about profit and not about any logic or where it comes from, people are in for quick profit hence we may see the same scene again but it won't be exactly like what it used to be as many of these NFT related projects are dead.

I don't think there is any harm if our objective is only some quick profits and don't mind taking risk. But it would be a big no form long te and won't make any sense at all to hodl these.

the problem with NFT, the liquidity is only for one unique and even so there are very few people that bids for NFT, an NFT could be priced high by the owner but if there's no one to buy it then its simple as good as valueless. thats the thing with NFT, the fact that its unique, will defnitely prevent it from having many liquidity but instead it will be like selling land or property, for every land or property is unique and finding buyer is difficult if the price is inflated.
even right now justin bieber's NFT are worth a dime I don't think the other NFT that are less popular are spared these days, i've seen so many NFT that was initially bought at quite high price point now nobody is buying it therefore the money is lost for those that trying to "invest" in these NFT, from the very beginning i was already baffled by these buyers of NFT that even willing to pay hundred thousand dollar for an NFT anyway.
hopefully people finally realize what a true investment is not some random NFT.

o48o

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Quote from: batang_bitcoin on December 13, 2023, 08:20:42 AM

Will this change when the bull run comes? Seems that the altcoins market is ripening and rich again but I don't know what's with the NFT scene if they're flourishing and going back to what they used to be. If there's no movement at all even in the bull run and that 95% remains the same for the majority of the NFTs then, it just means that there is no hope anymore from them and they're likely dead at all as people look forward for another place to invest into this market aside from btc and alts.

You might as well ask will this change to altcoins, because there are percentually and numerically way more dead altcoins then there are dead NFTs. Nfts just feel more stupid because there are often stupid pics linked into them, and liquidity sucks. But same could be said about most altcoins. If whale wants to exit, liquidity in many of them will not be enough to sustain the price level without flooring -90%.

Imho people making fun of nfts are like nocoiners making fun of crypto holders. Principle is the same. Focusing on the negative is easy because there are ton of things to point at. But i can't see any reason why same percentage of nfts wouldn't rise with altcoins. Dead nfts most likely stay dead, just like most dead alts stay dead.

Belarge

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Quote from: batang_bitcoin on December 13, 2023, 08:20:42 AM

Will this change when the bull run comes? Seems that the altcoins market is ripening and rich again but I don't know what's with the NFT scene if they're flourishing and going back to what they used to be. If there's no movement at all even in the bull run and that 95% remains the same for the majority of the NFTs then, it just means that there is no hope anymore from them and they're likely dead at all as people look forward for another place to invest into this market aside from btc and alts.

Bitcoin is on another chart and different from altcoins in the space. Altcoins have brought in more volatility season of the market, we can not easily predict the market because there are presence of top coins which are very popular to the investors and traders, and there's good time to carry out operations of findings concerning a project. 95% of Non-Fungible Tokens have the basic units of market cap and it does applies to their roadmaps. NFTs have their specified season of running bullish moves in the system, though it doesn't come in as expected but it do triggers when everyone hope for a heavy pump in the market.

kentrolla

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It may flourish ony during bull run as people will be bothered only about profit and not about any logic or where it comes from, people are in for quick profit hence we may see the same scene again but it won't be exactly like what it used to be as many of these NFT related projects are dead.

I don't think there is any harm if our objective is only some quick profits and don't mind taking risk. But it would be a big no form long te and won't make any sense at all to hodl these.

batang_bitcoin

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Will this change when the bull run comes? Seems that the altcoins market is ripening and rich again but I don't know what's with the NFT scene if they're flourishing and going back to what they used to be. If there's no movement at all even in the bull run and that 95% remains the same for the majority of the NFTs then, it just means that there is no hope anymore from them and they're likely dead at all as people look forward for another place to invest into this market aside from btc and alts.

mich

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And now US President Donald Trump is selling his new Mugshot NFTs. The first 2 releases made $9 Million so it is normal for him to do this again.
But this time these will be different will come with part of his suit from when mugshot was taken. And a chance to have dinner with him. There is only 100,000 of them and maybe this is a NFT that will not have zero marketcap.
https://www.forbes.com/sites/tylerroush/2023/12/12/donald-trump-releases-mugshot-edition-digital-trading-cards-offers-pieces-of-suit-from-fulton-county-arrest/?sh=47ccf59e676e

JeffBrad12

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Quote from: Essential10 on November 03, 2023, 03:57:16 AM

Indeed, the NFT market can be diverse, ranging from widely popular projects to more specialized and lesser-known artifacts. Quality and creativity often stand out, even in a crowded place. It's unfortunate that some exceptional pieces may not get as much attention as mainstream or trendy projects. However, the value of art is subjective, and passionate collectors can really make a difference by recognizing and supporting talented artists. The value of many NFTs is driven by speculation, as people buy and sell them in the hope that their value will increase over time. This speculative behavior often leads to hype-driven prices, even for NFTs without significant underlying value.

the value of NFT, is purely depend on hypes as you have described, moreover it also works like brand, if the NFT brand is known like the bored apes, then doesn't matter how shit the NFT is, will be valued high, but thats only in the past, now most of them don't have have bidder, meaning it doesn't even have any liquidity, just remnant of the past, those that bought at few thousands dollars even more are definitely making the worst investment decision in their life.
because after all, the liquidity of NFT doesn't really work like liquidity in altcoin market where its centralized but instead each NFT is unique asset which means harder for liquidity to come by.
thats why investment in NFT is just waste of money.

BitcoinPanther

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Quote from: uneng on October 02, 2023, 12:31:03 PM

Quote

One of the latest studies conducted regarding the NFT market found that 95% of NFT collections have a market capitalization of 0.

The unveiled reality of the NFT market: 95% of NFTs have a market cap of zero

The bearish market has been affecting the whole crypto industry downside, but regards NFT niche, it has been worst. Almost all NFTs have a market cap of zero, meaning investors and adopters have completely lost interest for them after so much hype and excitment we saw during the year of 2021.

Does it mean NFT is a scam sector of crypto market, or is their concept good, but the execution of the projects are wrecking everything? Is it still possible for NFTs to recover their credibility?

This only prove that NFT is so far useless and has brought nothing but only hype. Aside from that many of these so called NFT are created by scammer to milk people of their money. I never thought of NFT to have a real use case so I also expected that the hype of the NFT market is temporary and will end up being useless which I found somehow correct.

Quote from: Bushdark on November 03, 2023, 04:46:36 PM

Quote from: Essential10 on November 03, 2023, 03:57:16 AM

Indeed, the NFT market can be diverse, ranging from widely popular projects to more specialized and lesser-known artifacts. Quality and creativity often stand out, even in a crowded place. It's unfortunate that some exceptional pieces may not get as much attention as mainstream or trendy projects. However, the value of art is subjective, and passionate collectors can really make a difference by recognizing and supporting talented artists. The value of many NFTs is driven by speculation, as people buy and sell them in the hope that their value will increase over time. This speculative behavior often leads to hype-driven prices, even for NFTs without significant underlying value.

There are so many NFT projects in the crypto market that don't even have liquidity so we must be ready to select careful on any NFT project we want to invest in. One thing I have noticed about some NFT projects is that, they may keep trending for a while but after some times, they can easily crashed and may not be able to generate liquidity again. This happens in coin projects too so we must be ready to take our time and do research so we can invest our funds in a good projects with long time existence.

These NFT that don't have liquidity are created to milk investors of their money. The developers of this project exploited the hype of NFT and after they got their goal, they either rug pull or just abandon the project. Another reason is that people find out that the NFT project have no real use case so they sell when profit is seen and never support the project again.

Bushdark

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Quote from: Essential10 on November 03, 2023, 03:57:16 AM

Indeed, the NFT market can be diverse, ranging from widely popular projects to more specialized and lesser-known artifacts. Quality and creativity often stand out, even in a crowded place. It's unfortunate that some exceptional pieces may not get as much attention as mainstream or trendy projects. However, the value of art is subjective, and passionate collectors can really make a difference by recognizing and supporting talented artists. The value of many NFTs is driven by speculation, as people buy and sell them in the hope that their value will increase over time. This speculative behavior often leads to hype-driven prices, even for NFTs without significant underlying value.

There are so many NFT projects in the crypto market that don't even have liquidity so we must be ready to select careful on any NFT project we want to invest in. One thing I have noticed about some NFT projects is that, they may keep trending for a while but after some times, they can easily crashed and may not be able to generate liquidity again. This happens in coin projects too so we must be ready to take our time and do research so we can invest our funds in a good projects with long time existence.

Essential10

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Indeed, the NFT market can be diverse, ranging from widely popular projects to more specialized and lesser-known artifacts. Quality and creativity often stand out, even in a crowded place. It's unfortunate that some exceptional pieces may not get as much attention as mainstream or trendy projects. However, the value of art is subjective, and passionate collectors can really make a difference by recognizing and supporting talented artists. The value of many NFTs is driven by speculation, as people buy and sell them in the hope that their value will increase over time. This speculative behavior often leads to hype-driven prices, even for NFTs without significant underlying value.

Abiky

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Quote from: devil-soul on October 29, 2023, 04:20:46 PM

Unfortunately, market variations also influence the value of NFTs, many have no market, others have no exchange volume, but the really important ones such as curious cards and cryptopunks keep their value high

"Important ones"? More like "overhyped ones". That's all what NFTs have been since day one. I'd add Bored Ape Yacht Club to the list, especially when interest/demand is starting to fade. Funny thing is that most of the NFTs are listed on marketplaces prone to censorship. Especially the OpenSea marketplace living on the ETH blockchain.

Is this what the future of the web is about? Without focusing on decentralization, censorship-resistance, and immutability, NFTs would only be a passing fad. Eventually, mainstream governments will adopt the tech for their own benefit. Once that happens, NFTs will have no reason to exist on public chains. It was a wild ride for those who got early into the game. Let's just focus on what matters most which is bringing "banking to the unbanked". I wouldn't be surprised if crypto/Blockchain tech ends up being used solely for financial purposes in the future. It's the only thing it's good at. Just my opinion

JeffBrad12

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Quote from: Septex on October 29, 2023, 02:15:44 PM

Currently the market for NFT is zero. I think NFT will not be very profitable at present. Many people invest in NFTs because they think they will do well but I think it is best not to invest here now. Investing here has become like death by sin in greed. The way NFT has gone down day by day, the chances of profiting here are very low

mainly because unlike altcoins in general that have unified liquidity, the fact that each NFT is unique, the liquidity worked like property.
basically each property have its own unique demand, or have no demand at all, same with NFT even more so with many of the art NFT that usually have no utilities at all aside from being decoration.
thats why even justin bieber's NFT are going down so hard, because these NFT are just outright useless, no need to elaborate further we know that these NFT arts are just some random arts value being
overly inflated just for the sake of speculation and nothing more, therefore this NFT will definitely have no future, even if its popular NFT that was gaining massive value back then, they all losing their value.

devil-soul

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Unfortunately, market variations also influence the value of NFTs, many have no market, others have no exchange volume, but the really important ones such as curious cards and cryptopunks keep their value high

Septex

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Currently the market for NFT is zero. I think NFT will not be very profitable at present. Many people invest in NFTs because they think they will do well but I think it is best not to invest here now. Investing here has become like death by sin in greed. The way NFT has gone down day by day, the chances of profiting here are very low

fullhdpixel

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Quote from: Xal0lex on October 22, 2023, 03:01:50 PM

Quote from: Rupok on October 17, 2023, 12:42:30 PM

Everyone once had a positive perception of NFT but now it is not possible for NFT to regain its credibility. When NFTs were on hype I expected good profits, but now NFTs are not as hyped as before. Now I think NFT-Investment has very high risk. It is true that 90% of NFT are sitting at zero now. The NFT market will not be able to recover so easily. Although I was not bullish on NFT from the beginning, and I do not advise anyone to invest in NFTs. NFT used to be a great technology but now it is being misused, and most of the scammers are getting into NFT. I have several NFT in my wallet that have been sent by scammers.

There's always a false sense of some value on a hype, that's why people easily invest in all sorts of shitcoins. The problem with NFT isn't that it can't recover that fast, it won't recover ever again. At least in the form it was in 2021. All those projects will never again be worth the money that was asked for them in 2021. Exactly the same story that happened with ICOs in 2018 happened. Those coins never recovered, in their bulk, and died completely.

I cannot help but wonder how much money some people must have lost in all this. Some people were so into the hype, I remember someone buying an NFT for 276 ETH or something and the value of that was above $400k at that time. I'm pretty sure that the same NFT isn't worth a few thousand dollars now since no one would even be ready to buy it for that much since the hype is already over and NFTs that were valued so high are considered overvalued now.

This is the reason why it's always important for people to take calculated risks so that they don't waste a lot of money just because they see a lot of hype in a certain thing, meme coins these days are going through the same phase and a lot of people are investing a lot of money that they will regret later.

Abiky

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Quote from: makishart on October 27, 2023, 12:50:44 AM

The users of NFT were just speculators. Even some shitty NFT games are pure garbage games with no innovative gameplay. It's even worst compared with 2019's game. Anything about NFT looked like over rated at this moment.

I think that NFT will not be disappoearing but NFT will be worthless. I dunno why there are people who bought these stupid NFTs even they do know that if the price of NFT is always dumped till it worth nothing.

It's something strange for me to see that like i saw those people are loosing their sense to think correctly with their logic.

The tech will be adopted by mainstream governments as a means to digitize our society. Nearly anything you can imagine will transition from the physical to the digital world (precious metals, real estate, collectibles, etc). It will only happen on private chains controlled by governments and central banks alike. In public chains like Bitcoin and Ethereum, NFTs will remain a speculative trend that will enrich developers/creators themselves. Same can be said about RWAs and stablecoins (which will be eventually replaced by CBDCs).

Only decentralized cryptocurrencies hold promise to become an alternative to Fiat in an ever-increasing "surveillance State". The future is unpredictable, so we can only hope for the best. Wink

JeffBrad12

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Quote from: avp2306 on October 27, 2023, 06:30:15 AM

Most of it if not trash gameplay a copy from other popular games so we cannot really get some good new game ideas coming from those NTF game creators since they are generics and maybe they don't even think about for new concept since they want to ride as fast as they can on NFT hype floating up in the mind of the people. if investors would really be smart enough to determine which are totally garbage for sure that they will not caught up by those scammers pretend to be a good NFT platform.

And if we look at the past stats made by this industry for a year for sure we can see that most of them are in total bad shape which their old holders still shaking their heads on how they can recover back their money invested on those NFT games and arts.

can't agree more with these tatements, their gameplay, pure garbage, usually just reskinned failing games of the past.
I've recently tried many of these games, i was expecting things would change from few years ago when blockchain gaming was popular but nah, its just the same trash game being reskinned and integrated to blockchain just for the sake of hypes and then these games will vanish afterwards, the userbase will be gone even the user themselves know the game is just pain in the ass if not for the rewards they wouldn't waste their life with these games.
honestly, these needs to be resolved, otherwise the field of blockchain gaming will just stuck in this same place like this.

Hypnosis00

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Quote from: GreatArkansas on October 11, 2023, 09:24:10 PM

Quote from: uneng on October 02, 2023, 12:31:03 PM

(....)
Does it mean NFT is a scam sector of crypto market, or is their concept good, but the execution of the projects are wrecking everything? Is it still possible for NFTs to recover their credibility?

I am really hoping that they will recover, but I will be expecting the legit ones only. We all know there are a lot of scams in NFT or in the cryptocurrency market itself.
So for me, the NFT market is one of the best hype during the last bull market and they are also devastated by the bear market. Just like any other cryptocurrency project on every bear market, only the legit remains and will continue.

The question is if we can still see any of these projects to recover because all of them are scams IMO. NFT got its season and shows an impressive market breakout but it only stays short and has been declining after the hype because nobody cares to hold it instead of selling them all. That is why I don't see any reason for us to expect them to rise, they're dying already. I'd just remember those ICO and IEO times when they were very popular in the market but now, they've been ignored because they are not profitable anymore and that can be the same to happen to NFT.

Topic: 95% of NFTs have a market cap of zero (Read 823 times)