95% of NFTs have a market cap of zero - page 2.

tygeade

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Quote from: Abiky on October 26, 2023, 07:46:42 AM

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

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.

NFTs won't recover again because the vast majority are pure junk. They have no real utility. The fact that most of their content is stored on a centralized server, is a huge turn off for me. Isn't the Blockchain all about "immutability"? I wouldn't want to buy something that could disappear in an instant.

Most people don't care about this, since they only want to make a quick buck. Convenience goes on top of everything else. Hopefully, the industry will mature in the future as developers put their emphasis on quality instead of quantity. No one can predict the future, so lets hope for the best. Wink

That was the intention and since that is done now, they are moving to whatever the new trend will be. Not like people invested into NFT because they liked the idea, they invested because they knew that if they get whitelisted and buy at the release price, just within the day of release they could double their money or more and that's all they cared about. Then , when this is over they are not even caring about it, don't do it, and whenever some new trend comes out they will be focusing on that as much as they possibly could.

This is a vicious cycle that will continue without a doubt. I realize that it may not be all that easy, but it could get to a point where it will not be all that simple to handle on the long run.

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

Quote from: Abiky on October 26, 2023, 07:46:42 AM

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

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.

NFTs won't recover again because the vast majority are pure junk. They have no real utility. The fact that most of their content is stored on a centralized server, is a huge turn off for me. Isn't the Blockchain all about "immutability"? I wouldn't want to buy something that could disappear in an instant.

Most people don't care about this, since they only want to make a quick buck. Convenience goes on top of everything else. Hopefully, the industry will mature in the future as developers put their emphasis on quality instead of quantity. No one can predict the future, so lets hope for the best. Wink

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.

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.

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Quote from: Abiky on October 26, 2023, 07:46:42 AM

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

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.

NFTs won't recover again because the vast majority are pure junk. They have no real utility. The fact that most of their content is stored on a centralized server, is a huge turn off for me. Isn't the Blockchain all about "immutability"? I wouldn't want to buy something that could disappear in an instant.

Most people don't care about this, since they only want to make a quick buck. Convenience goes on top of everything else. Hopefully, the industry will mature in the future as developers put their emphasis on quality instead of quantity. No one can predict the future, so lets hope for the best. Wink

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.

wxa7115

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Quote from: DapanasFruit on October 22, 2023, 11:11:42 PM

For now, many NFTs are getting the downward trend in terms of value and many of NFT investors in the past years are now realizing that they are sitting on something that are not anymore excited as they used to be. Yes, there is no denying, hype was a big part of NFT soar in the past and in my opinion this is the biggest reason why they are now getting valueless as most NFTs are not representing any use-case at all. What will you do with a picture of a stone? I think a cheap real stone can be better since we can use it to crack the coconut. Right now, am wondering what is the real future of NFT...will it be soaring in 2024 buoyed by BTC bull run or will it slowly die due to lack of interest from the market?

And yet another issue with NFTs is that since each one is unique it is difficult to measure how much each one is crashing at any given time, with a regular coin you can at least know this information as there is enough trading volume to give you an idea of how much money that coin is losing.

But with NFTs this is not possible, as someone could sell a NFT for 10k and then the one who bought may try to sell it for 20k and no one buys it, but how can you determine its current value if the only way for this to be done is with the price discovery process, and this process can only take place once a transaction happens?

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

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.

NFTs won't recover again because the vast majority are pure junk. They have no real utility. The fact that most of their content is stored on a centralized server, is a huge turn off for me. Isn't the Blockchain all about "immutability"? I wouldn't want to buy something that could disappear in an instant.

Most people don't care about this, since they only want to make a quick buck. Convenience goes on top of everything else. Hopefully, the industry will mature in the future as developers put their emphasis on quality instead of quantity. No one can predict the future, so lets hope for the best. Wink

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For now, many NFTs are getting the downward trend in terms of value and many of NFT investors in the past years are now realizing that they are sitting on something that are not anymore excited as they used to be. Yes, there is no denying, hype was a big part of NFT soar in the past and in my opinion this is the biggest reason why they are now getting valueless as most NFTs are not representing any use-case at all. What will you do with a picture of a stone? I think a cheap real stone can be better since we can use it to crack the coconut. Right now, am wondering what is the real future of NFT...will it be soaring in 2024 buoyed by BTC bull run or will it slowly die due to lack of interest from the market?

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Quote from: TelolettOm on October 22, 2023, 07:00:28 PM

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

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.

Unfortunately, this is an inevitable fact. Maybe there are still NFTs that are truly worth it and have enough market cap to fight for, but this is definitely not easy. Like the various altcoins in the crypto world, they are also the same, many of which end up going bankrupt, dying, and also becoming shitcoins. This is not surprising in the crypto world, especially with the various hype things that are happening, such as the NFT hype too, there are definitely times for hype and drops like now. The next question is, can they survive and rise again as significantly as when they first appeared and were hyped? This will be a harder job to do.

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?

Some maybe not, maybe there are a few percent who are really good and will continue to survive in the bullish era. However, we know that like before in crypto projects, they really have a scam agenda, especially with the NFT hype at that time, so that many parties immediately created various NFT products, even NFTs that really surprised us and never imagined them previously.

the problem with most of NFT that make it 95% which is majority of them couldn't survive the changing of season is because they themselves are NFT, which means they got unique demand for each NFT which significantly reduces the possibility of having market cap and liquidity.
even the most popular NFT out there only very few of them are in demand, the rest of the product even though still falls under the same brand, would get zero demand and that occurs too frequently.
thats the disadvantage with NFT being used for these kind of things, NFT itself is a good technology, if its used correctly it could be making breakthrough like for identifying authenticity of goods and so on.
its not for some random hype based inflation of arts value or some kind otherwise the result will be like nowadays.

TelolettOm

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

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.

Unfortunately, this is an inevitable fact. Maybe there are still NFTs that are truly worth it and have enough market cap to fight for, but this is definitely not easy. Like the various altcoins in the crypto world, they are also the same, many of which end up going bankrupt, dying, and also becoming shitcoins. This is not surprising in the crypto world, especially with the various hype things that are happening, such as the NFT hype too, there are definitely times for hype and drops like now. The next question is, can they survive and rise again as significantly as when they first appeared and were hyped? This will be a harder job to do.

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?

Some maybe not, maybe there are a few percent who are really good and will continue to survive in the bullish era. However, we know that like before in crypto projects, they really have a scam agenda, especially with the NFT hype at that time, so that many parties immediately created various NFT products, even NFTs that really surprised us and never imagined them previously.

Xal0lex

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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.

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Quote from: asriloni on October 21, 2023, 07:25:38 AM

Quote from: kevindjunaidi on October 17, 2023, 05:13:03 AM

therefore I have never invested in NFT, because I am sure that NFT have a very big risk that I could lose my money and I am also sure that the price of NFT will not be able to increase again even if the next bullrun occurs, so I have never been interested and suggested to my friends or my family to invest in NFT even though the price of NFT was going down, because it was too risky to invest in NFT.

Justin bieber has been also scammed by this piece of shit.

Quote

Justin Bieber’s Bored Ape NFT was valued at $1.3 million in 2022—now it’s only worth around $60,000

https://www.cnbc.com/2023/07/07/justin-biebers-bored-ape-nft-has-lost-95-percent-of-its-value-since-2022.html

Look at that how shitty NFT is right now. Even justin bieber was loosing millions of money in less than a year. NFT is pure massive scam. People are so dumb in using NFT as their personal investment which was the stupidest thing i have ever seen in my life.
Justin NFT is now only worth 60k USD. Justing is a rich guy abd that amount was nothing. Im guessing that if almost all of APE nft holdes are suffering the same case like what justing did.

This guy spend millions of money for nothing than get a garbage money NFT which will worth nothing in the future. NFT is pure garbage shit. The end of NFT is going even closer since there are many scam NFTs exist in the market.

There's a lot of celebrities that are affected by the downfall of NFT arts that they had bought. I guess it is the way that the project convince people to buy their NFT because celebrities have it, so this is your chance to have the same ones that the celebrities had. But yeah, it's the downfall and those who bought those NFT's including celebrities are losing money day by day because it is depreciating consistently. The one who really gained from it are the flippers/hypers and the project owners (royalties). It's sad but I think those celebrities will just preserve their NFT and hope someone buy their NFT at the price that they want.

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Quote from: Hispo on October 21, 2023, 01:04:17 PM

I had no idea even a music personality like Justin Bieber was involved within the NFT landscape. I thought people like him was the kind of person who would not even care on the trend of NFTs, to be honest.
Though, One is not supposed to feel bad for him, he is an adult who is able to take his own choices and has enough money to spare and burn on NTFs or whatever. On the other hand, one must wonder how other kind of investors are doing, those who went all in in this trend and with money which could not ditch so easily, that is the kind of investor I can feel sorry for.

Hopefully, this will become a cautionary tale and lesson when future trends come, and there won't be so many people willing to get their money in without reading and getting informed first.

Oh? At some point i finded odd that some famous people didn't ride that cash cow. It was free money for brand nfts. And status bling symbols for some. I didn't see those commercial nfts as brand collectibles. I saw them as annoying advertisements, which they weren't even bothered to put any work into.

Artists and athletes didn't seem to understand basic marketing rules and they were selling them like cds. With the exception that they seemed to hint price growth. That made them instant securities and they got sued. Some went overboard and i am guessing Actress Lana Rhoades gets jail time over her nft sales and rug pull after the dust settles.

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Quote from: asriloni on October 21, 2023, 07:25:38 AM

Quote from: kevindjunaidi on October 17, 2023, 05:13:03 AM

therefore I have never invested in NFT, because I am sure that NFT have a very big risk that I could lose my money and I am also sure that the price of NFT will not be able to increase again even if the next bullrun occurs, so I have never been interested and suggested to my friends or my family to invest in NFT even though the price of NFT was going down, because it was too risky to invest in NFT.

Justin bieber has been also scammed by this piece of shit.

Quote

Justin Bieber’s Bored Ape NFT was valued at $1.3 million in 2022—now it’s only worth around $60,000

https://www.cnbc.com/2023/07/07/justin-biebers-bored-ape-nft-has-lost-95-percent-of-its-value-since-2022.html

Look at that how shitty NFT is right now. Even justin bieber was loosing millions of money in less than a year. NFT is pure massive scam. People are so dumb in using NFT as their personal investment which was the stupidest thing i have ever seen in my life.
Justin NFT is now only worth 60k USD. Justing is a rich guy abd that amount was nothing. Im guessing that if almost all of APE nft holdes are suffering the same case like what justing did.

This guy spend millions of money for nothing than get a garbage money NFT which will worth nothing in the future. NFT is pure garbage shit. The end of NFT is going even closer since there are many scam NFTs exist in the market.

I had no idea even a music personality like Justin Bieber was involved within the NFT landscape. I thought people like him was the kind of person who would not even care on the trend of NFTs, to be honest.
Though, One is not supposed to feel bad for him, he is an adult who is able to take his own choices and has enough money to spare and burn on NTFs or whatever. On the other hand, one must wonder how other kind of investors are doing, those who went all in in this trend and with money which could not ditch so easily, that is the kind of investor I can feel sorry for.

Hopefully, this will become a cautionary tale and lesson when future trends come, and there won't be so many people willing to get their money in without reading and getting informed first.

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Quote from: kevindjunaidi on October 17, 2023, 05:13:03 AM

therefore I have never invested in NFT, because I am sure that NFT have a very big risk that I could lose my money and I am also sure that the price of NFT will not be able to increase again even if the next bullrun occurs, so I have never been interested and suggested to my friends or my family to invest in NFT even though the price of NFT was going down, because it was too risky to invest in NFT.

Justin bieber has been also scammed by this piece of shit.

Quote

Justin Bieber’s Bored Ape NFT was valued at $1.3 million in 2022—now it’s only worth around $60,000

https://www.cnbc.com/2023/07/07/justin-biebers-bored-ape-nft-has-lost-95-percent-of-its-value-since-2022.html

Look at that how shitty NFT is right now. Even justin bieber was loosing millions of money in less than a year. NFT is pure massive scam. People are so dumb in using NFT as their personal investment which was the stupidest thing i have ever seen in my life.
Justin NFT is now only worth 60k USD. Justing is a rich guy abd that amount was nothing. Im guessing that if almost all of APE nft holdes are suffering the same case like what justing did.

This guy spend millions of money for nothing than get a garbage money NFT which will worth nothing in the future. NFT is pure garbage shit. The end of NFT is going even closer since there are many scam NFTs exist in the market.

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Quote from: kevindjunaidi on October 17, 2023, 05:13:03 AM

therefore I have never invested in NFT, because I am sure that NFT have a very big risk that I could lose my money and I am also sure that the price of NFT will not be able to increase again even if the next bullrun occurs,

Any investment has their own risk and during the bull run, there was less risk on these NFTs. But when we saw that the hype from the meme coins going to NFTs about to end, the risk on them became higher and that's why it's hard to get on them when we saw its value about to drop.

Quote from: kevindjunaidi on October 17, 2023, 05:13:03 AM

so I have never been interested and suggested to my friends or my family to invest in NFT even though the price of NFT was going down, because it was too risky to invest in NFT.

Honestly, I've been interested in a few of them. Those that have great value but I've never thought that I should be able to purchase them. Because if I did and I'm still holding some of those, I've just done the same mistake that I have committed before when I've sold too early. This is why being on this market, we need to be vigilant and need to be researchful for us to know what's actually happening in the scene. Because if you're just keeping with the hype and trend, you're about to lose your money if you believe on them that much. That's one lesson that I have learned and you need to take profits whenever you can.

wxa7115

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Quote from: Wexnident on October 15, 2023, 07:06:59 PM

Quote from: taufik123 on October 03, 2023, 07:58:09 PM

But do they as collectors lose out on buying NFTs?
it depends on each person's perspective because there are those who buy NFTs for speculation and those who buy because of pure art.

I know a few artists who sell NFT's and honestly speaking, them being bought by other collectors doesn't look like it'd be a loss really. Those on the top 10 list on the other hand... Jesus, I still don't know how it ended up like this. It's rather similar to my feeling about some artist's paintings being sold for millions. There was also one where the artists set up a mechanism to shred the painting when it was pulled out (this was when it was sold for an enormous amount), but they managed to stop it halfway. The next time it was sold, it got sold for an even higher price.

At least when it comes to regular paintings it makes more sense their price is that high, as once you buy a painting you truly own it as you can deny the possession of that painting to anyone else, but this is not possible with NFTs as everyone has access to the same jpg and they can enjoy the image as much as you do.

Regular paintings have another advantage for those that are extremely wealthy, as they can move tens of millions of dollars with ease from one country to another without bringing any suspicions to themselves by doing so, so if a government were to try to confiscate their wealth, they can move a great deal of it in a way that leaves no traces by running away with their paintings.

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The loss of value in the NFT space has been staggering. I don’t think NFTs are dead and believe they have a real valuable future where they play a role in finance, but I don’t think that will be by displaying them as art. Likely their day in the sun will come when the metaverse hits mainstream and people want property or items from popular metaverses.

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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.

To be honest! I never had a positive thought about NFTs. From the very beginning I have been saying to everyone, that NFT is going to die sooner than any other hypes in the crypto market.

A JPG can't be sold forever for millions of dollars. Just like any other hype, NFT died but faster than anything else. Only the initial investors made money and royalty. Rest all are still licking their own fingers with a hope of making sales. This is utter nonsense!

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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?

NFT, just like ICO, IEO, and DEFI can only survive on hype, mind you that the majority of people who are interested in these schemes do so just because they want to make money, not because they were interested in its use case or in how to use it to improve the crypto industry, thus when the hype is over and scammers then take over, that would be the end of it. In the case of NFT's i wasn't expecting anything differently TBH.

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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.

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therefore I have never invested in NFT, because I am sure that NFT have a very big risk that I could lose my money and I am also sure that the price of NFT will not be able to increase again even if the next bullrun occurs, so I have never been interested and suggested to my friends or my family to invest in NFT even though the price of NFT was going down, because it was too risky to invest in NFT.

Topic: 95% of NFTs have a market cap of zero - page 2. (Read 823 times)