95% of NFTs have a market cap of zero - page 4.

wajik-tempe

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Quote from: asriloni on October 06, 2023, 10:23:52 AM

Quote from: 0t3p0t on October 04, 2023, 12:51:02 AM

I think NFT works long term on gaming but with art I don't think so. There are only few collectors or investors of art NFT compared to the huge community of gamers. Gaming industry is not about trend because it has been there since 1960's. The evolution of gaming has now come to the new era of NFT. In games we can buy and sell NFT just like Thetan Arena, MIR4 and Axie Infinity without having huge capital with it's feature free to play and play to earn. With art NFT we need capital to invest in.

There's no point to have NFTs being added to the game. This is bullshit. I meant if you have ever played CSgo and the skin can also be sold to another club easily without even need to do a complicated task like connecting to the wallet, listing your NFTs that require lots of fees to sell your NFT to others, the platform will also charge you with a few percents tax. Axie got hype caused by it was played to earn. This game will never be popular if there was no play to earn mode that was luring people to buy the NFT

Look at what happens to the axie right now. People are feeling so badly with the current ROI. The game play was also terrible. 2023 games offered you various gameplay mode with ultra graphic while the blockchain games was actually bullshit.
NFT games were always selling gimmick. The gameplay was so far from the trailer.

NFT era will be coming to its end soon. It's pretty much the same like scammy thing for me to be honest. I don't know who the stupid people bought it

i agree gaming should be seperate with NFTs and the current hype around NFTs might not align with principle that gaming is about fun gameplay.
The rise of play-to-earn games before brought attention to blockchain gaming, but as you rightly pointed out, sustainability and genuine enjoyment are crucial for the long-term success of any game.

asriloni

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Quote from: 0t3p0t on October 04, 2023, 12:51:02 AM

I think NFT works long term on gaming but with art I don't think so. There are only few collectors or investors of art NFT compared to the huge community of gamers. Gaming industry is not about trend because it has been there since 1960's. The evolution of gaming has now come to the new era of NFT. In games we can buy and sell NFT just like Thetan Arena, MIR4 and Axie Infinity without having huge capital with it's feature free to play and play to earn. With art NFT we need capital to invest in.

There's no point to have NFTs being added to the game. This is bullshit. I meant if you have ever played CSgo and the skin can also be sold to another club easily without even need to do a complicated task like connecting to the wallet, listing your NFTs that require lots of fees to sell your NFT to others, the platform will also charge you with a few percents tax. Axie got hype caused by it was played to earn. This game will never be popular if there was no play to earn mode that was luring people to buy the NFT

Look at what happens to the axie right now. People are feeling so badly with the current ROI. The game play was also terrible. 2023 games offered you various gameplay mode with ultra graphic while the blockchain games was actually bullshit.
NFT games were always selling gimmick. The gameplay was so far from the trailer.

NFT era will be coming to its end soon. It's pretty much the same like scammy thing for me to be honest. I don't know who the stupid people bought it

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Quote from: uneng on October 02, 2023, 11:31:03 AM

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?

It was not a surprise that NFT went into a situation like this because they are not meant for the long-term, they are indeed worthless and after the developers got money from innocent people, they abandoned the project.
I don't know what attracts these NFT projects to some investors because if we analyze it carefully, these projects are worthless. I've never had any NFT but just think about those who held them until now, disappointed and regretted as I presume.

avikz

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Quote from: uneng on October 02, 2023, 11:31:03 AM

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?

NFT is dead! NFT was always a pure non-sense tech which rose to prominence due to marketing hype. Now the hype is gone and the market is dead. Only couple of people joined in the NFT market during its initial days, made money and pulled the plug. Rest everything is dead.

But that was expected. Now with AI, anyone can flood the market with new images every single day. It doesn't make sense anymore.

zasad@

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Quote from: uneng on October 02, 2023, 11:31:03 AM

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?

The first to come to the hype topic are always scammers and cunning businessmen who understand that according to the law they will not be held responsible for the sale of NFTs. Maybe later the gaming industry will use NFTs more often and we will see real application. I have always said that it is more difficult to make money when trading NFTs than when trading cryptocurrencies.

fullhdpixel

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Quote from: uneng on October 02, 2023, 11:31:03 AM

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?

I wouldn't blame the concept since it wasn't really that bad if it was just used for the right things. It obviously doesn't make sense for someone to buy a simple animated picture for 256 ETH and add it to your collection while it keeps losing value over time if the hype keeps fading away, it would have been worth it if the person buying it was given some sort of authority somewhere or must have gotten some advantage for holding that piece of art or the picture.

Projects can use NFTs to provide access to their investors or users to different advantages and privileges which might promote the buying and selling of such NFTs among users as they would obviously want to have those privileges as well and the fact that the NFTs are unique, the prices could keep going up eventually, but alas, it seems to be failing completely.

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Quote from: FahriZah on October 04, 2023, 01:52:55 AM

I think this main reason for bearish market conditions because from long time about upto 2 year no have any good performance crypto market and atill now not good conditions but we can expected about crypto market and NFTs market both are bullish very soon as possible and we are waiting for bull sessions than start play with crypto & Nfts lovers.

NFT it was just hype with people buying images for a lot of money. Now it is worthless and the capitalisation of all NFTs is constantly falling. I think that such success and hype with NFT will not happen again. When the bull market comes, new trends will appear. I don't remember hype ICO or IEO to happen again.

asriloni

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Quote from: uneng on October 02, 2023, 11:31:03 AM

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?

NFT was a new way to scam people. This useless NFT being hyped in the past. I don't even know how stupid people who bought NFT land. Look at justin bieber's NFT. it has been dropping so hard. NFT concept was not good and it's utterly scam concept.
NFT is a soft way to scam people. Almost all of NFTs are worth nothing. The developers who had been successfully to scam people by creating A nft will be go away to produce another scam NFT.
That's pretty much the same like shit scam coin.

Quote from: uneng on October 02, 2023, 11:31:03 AM

Is it still possible for NFTs to recover their credibility?

It's not possible anymore. NFT already destroyed by scammers. It will be so hard to build the trust again. The hype is over and everything already gone.
NFT will remain one of garbage thing in the crypto. NFT is just another scam thing.

Most of NFT buyers were losing their money without even get usefulness from their NFT.

FahriZah

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I think this main reason for bearish market conditions because from long time about upto 2 year no have any good performance crypto market and atill now not good conditions but we can expected about crypto market and NFTs market both are bullish very soon as possible and we are waiting for bull sessions than start play with crypto & Nfts lovers.

siedemtrzy

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Quote from: 0t3p0t on October 04, 2023, 12:51:02 AM

I think NFT works long term on gaming but with art I don't think so. There are only few collectors or investors of art NFT compared to the huge community of gamers. Gaming industry is not about trend because it has been there since 1960's. The evolution of gaming has now come to the new era of NFT. In games we can buy and sell NFT just like Thetan Arena, MIR4 and Axie Infinity without having huge capital with it's feature free to play and play to earn. With art NFT we need capital to invest in.

We don't need NFTs in games. I mean, good for you if you're able to sell them in those games, but in regular games like CoD, Overwatch and etc gamers will definitely riot if NFTs are added. What's the point? It's still a skin that can't be transferred between games for obvious reasons. Ubisoft tried that, and someone even bought them, but now no one talks about that.

0t3p0t

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I think NFT works long term on gaming but with art I don't think so. There are only few collectors or investors of art NFT compared to the huge community of gamers. Gaming industry is not about trend because it has been there since 1960's. The evolution of gaming has now come to the new era of NFT. In games we can buy and sell NFT just like Thetan Arena, MIR4 and Axie Infinity without having huge capital with it's feature free to play and play to earn. With art NFT we need capital to invest in.

taufik123

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So the crypto market sector or not it is a project that runs with the full support of the community, if some NFTs have no development and lose interest then the crypto NFT trend has changed.

The average price of even well-known NFTs is currently falling dramatically.
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.

Top NFT Collection Prices Ranked by 24H Trading Volume

Source: https://www.coingecko.com/en/nft

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Quote from: Wexnident on October 03, 2023, 06:03:37 PM

Quote from: uneng on October 02, 2023, 11:31:03 AM

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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?

Imo concept is good, but the way it was used pushed the market into, well, using it that way instead. I know a few NFT's that are really really good, I have a few artists who I follow sell NFTs and they're priced worthy of their beauty/detail but due to how minor they really are, they aren't noticed and used as much as compared to...well, monkeys. Sad to say but a market driven by its consumers would be swayed by what the majority of its consumers do, and I don't think I'd need to elaborate what kind of shitfest it resulted.

And no, I'd say nfts are dead. There might be minor ones out there that are using it for how it's supposed to be, but yea in general I'd say it's dead. If it ever went up again, it'd probably start from zero and with another name instead.

thats right, its all about hype, whether your arts are the best arts out there doesn't matter that much.
moreover the main reason why those NFT that are just hype driven are getting the value they are getting are simply due to the fact that people wanna speculate with these NFT.
now the trend of NFT subsides, most just don't care, the value of these NFT that was hype driven also decreasing significantly that it become irrelevant.
I guess this should be time for NFT to shine as a technology not being used for manipulative and speculative tool by many people.

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Quote from: uneng on October 02, 2023, 11:31:03 AM

~
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?

Imo concept is good, but the way it was used pushed the market into, well, using it that way instead. I know a few NFT's that are really really good, I have a few artists who I follow sell NFTs and they're priced worthy of their beauty/detail but due to how minor they really are, they aren't noticed and used as much as compared to...well, monkeys. Sad to say but a market driven by its consumers would be swayed by what the majority of its consumers do, and I don't think I'd need to elaborate what kind of shitfest it resulted.

And no, I'd say nfts are dead. There might be minor ones out there that are using it for how it's supposed to be, but yea in general I'd say it's dead. If it ever went up again, it'd probably start from zero and with another name instead.

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Quote from: BlockchainWizard on October 03, 2023, 11:16:27 AM

I think the idea of NFTs and thus obtaining an access key to a small community of like-minded people is very interesting. However, NFTs have often been abused by fraudsters in the past. The projects were also not set up properly, mostly by inexperienced people, which resulted in a lot of mistakes that could have been avoided. Furthermore, I think that the NFTs should be given additional purposes, for example:

- Access in a community and its information
- Staking
- Access to certain events
- etc.

it already has such purpose and it serves that purpose really well.
the only thing that stain the name of NFT as a technology itself is this tech being used for something that's full of manipulation like NFT that revolves around having unique art.
but if it's to give identifier for membership or access, it really is great, after all NFT is unique, unlike ERC20 token.
i've seen many project that did airdrop for those that holds their NFT and it works wonder, but honestly after the airdrops are done with the distribution, suddenly the NFT also become useless.

Psynthax

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thats just how it is, with the fact that value of NFT itself is heavily inflated and heavily overhype it will definitely lose its value in the future when people wake up.
the thing that very clear from the very beginning these NFT art have no real value at all, most of the time its just generated jpg by the devs so really is it worth some dollars? definitely not.

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Quote from: uneng on October 02, 2023, 11:31:03 AM

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?

Ha ha ha
This is really the same as various crypto products or projects, especially YPE ones. how many of these projects were really exciting and then ended up being shit. Both cryptocurrencies and NFTs are the same, if they are not able to provide good fundamentals and teams, and are not something that is very unique and continues to be discussed, then let's just say, they are finished. Only NFTs that are truly good, unique, and always sought after will survive in this bearish era. We found lots of NFTs, but let's see whether they can really come back like before or not. Moreover, there are lots of new projects that are offering NFTs as prizes from several free project programs. This will just be trash. But still, in the future there will be NFTs that are truly valuable and worth holding onto, it's just that this is like a guess that will not necessarily survive and develop again in the future.

Natalim

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NFT projects are just passing by, they gain hype shortly and end up. Those who invest in these projects are hopeless now, they spend money buying the arts but now, it turns like just a sort of collection. We can't expect them either to rise again like before and there are no investors who have the courage to spend their money and lose it. Of course, why we should do that in the first place if we know that there is a very slim chance to make a profit from them?
NFTs are dying, they never rise back nor do we have to expect it.

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Quote from: BlockchainWizard on October 03, 2023, 11:16:27 AM

- Access in a community and its information
- Staking
- Access to certain events
- etc.

NFT can be endowed with many uses, but what is the point if there is no demand for it. NFT is now firmly associated with scam and shitcoins, people do not see any useful application and utilitarian properties in this technology. Due to poor regulation in this space, all the potential is drowning under the onslaught of various scammers and enrichment schemes. Until all this is stabilized, NFT will remain out of sight of serious development.

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I think the idea of NFTs and thus obtaining an access key to a small community of like-minded people is very interesting. However, NFTs have often been abused by fraudsters in the past. The projects were also not set up properly, mostly by inexperienced people, which resulted in a lot of mistakes that could have been avoided. Furthermore, I think that the NFTs should be given additional purposes, for example:

- Access in a community and its information
- Staking
- Access to certain events
- etc.

Topic: 95% of NFTs have a market cap of zero - page 4. (Read 921 times)