Topic: 95% of NFTs have a market cap of zero - page 5. (Read 823 times)

From my point of view the concept of NFT is really good. The new thing that give privilege to the artist and crypto enthusiasts. Initially, it was a new concept and people really liked it. Soon, kind of  every projects want to have Nfts as their main or one of the product. When there is too much, technology can lost the essence of its originality.
Second reason,  as you already mentioned, the current market conditions are not at all good at least for new startups.

The only thing unique about that is the hype they created to their audiences that's why it got a value to them. But for me it didn't came out on my mind to join the hype of NFT arts since I don't really find it interesting.

Some may earn some good profit with it but I still don't see any sense of investing such huge amount of money for just an art which I don't know if it gets a good value in future. But I guess my doubts became right since to many people get scam on it and those past NFT's they hold almost turn zero in value. But eventhough this cases happen I still hope for betterment of NFT scene since if this one will use to right cause this will be a great venue for real artist to show case their arts. But scammers ruined the scene that's by now many avoid to buy NFT's.

I've seen NFTs worse than pictures of monkeys my child can draw a better one, NFT is losing its value because it does not give anything valuable to the community and I agree if they attach some features or perks then there will be a desire for these NFTs.

Those who invested hugely in these NFTs are losing because they cannot get their investment back, it has become a pump-and-dump scheme where the late buyer is the loser and the early investors are the ones raking in the profit.
We have seen a lot of schemes in the community and sad to say NFTs have become part of a sad ending.

NFT is not a scam, because it is not something like cheating people. It's just that NFTs also shouldn't be as expensive and important as they have become. People are overhyping NFTs as the digital asset of the future and I don't agree with that. NFTs are very easy and anyone can make them. What is the value of such a thing?

Personally, I don't fancy the whole idea about NFTs. I just think it's a dumb idea spending money minting a funny looking picture; to do what with it exactly?
I don't get it, it doesn't make any sense to.
It fits the narrative of the metaverse, and since the metaverse itself has also lost its hype, that explains why the NFTs themselves are almost becoming worthless.
BTW, NFA.

The NFT hype is over and we can see that investors are now less interested in buying NFTs on the market because perhaps they have realized that NFTs cannot provide large profits evenly because basically NFTs are just collectibles in general which will only be appreciated if they exist. Rich people are interested in our collection, in contrast to altcoins which are still in demand by investors in the market so that trading volume continues to increase.

As most of the veteran investors predicted, it will be no value in the future because simply there are too many of it and anyone can easily make it and sell it making others that are hard to make become rusty because they are just shown off to a small amount of potential buyers. It was the same scenario when altcoins were first introduced to the public and guess what happened back then? lots of people create their altcoins and they fooled a lot of people making it one of the most untrusted eras in the crypto industry because lots of people lose their money.

From the first time it went out of the market I already thought this was pointless.
Can it recover? The answer is "Yes!" for me and I think the gaming industry will have a lot to do about that. If popular gaming developers could inject these NFTs into their features then it would be boosted again. I have an NFT sold for $100 without spending anything through a game, all I did was grind the character for like a year while also enjoying the game. I am happy it's still sold though because I had enough of that game and I already quit.
But, imagine that. New players who think the game is still cool will not need to grind their way like me and automatically be at an average level to be competitive unlike those who started fresh. Just for $100, they could instantly be in the place where some features of the game can be accessed.

This is why I think NFTs have more value when it's injected into the gaming industry. Somehow, there will be players who will get bored with the game while others are just starting out and want an easy path by buying a NFT character.

In my opinion about NFTs, I don’t think there will be another repeat hype in the future like what it did last 2021 during the good ol’ Elon boy days of pushing BTC and DOGE to the sky.

For me, NFTs would likely stand out if it has actual long term use cases like it most GameFi projects out there.

Another type of NFT that I am looking at that might be good for short or mid-term would be commemorative and early adopter NFTs.

Retroactive drop hunters are usually participating in early incentivized testnet opportunities to get these early adopter NFTs, OATs, etc., to be eligible for an airdrop.

Linea Voyage is one example. After that 9-week campaign and eligible participants are minting their commemorative NFTs based on their level are trading for as much as $800 to $1k for Beta and Alpha respectively.

These NFTs can be a “golden ticket” or a “criteria” for big opportunities in which giving them reason to buy and hold it even after the airdrop snapshot ends.

As 95% of these NFTs are having a zero market cap, it is time to think outside of the box to make these NFTs interesting again. But it would be very tough and a long way to go to making it happen in the future.

That's pretty good considered that if we compare those to launched fungible tokens, i am pretty curtain the number of failed projects with 0 marketcap is around 99.99 %.

And i don't think this is even whataboutism, because i am not arguing against the fact that most nfts are scam.
What i do want to ask is: why do we exclude non-fungible tokens from other cryptos, like we would like we would like to make an argument that non-fungibles are worse?

And before anyone argues that nfts don't have any use cases, 99% of launched fungible tokens/coins don't have any use cases, or have use cases copied from other tokens / coins. Or they claim to have an use case that's basically made up, fixing a problem that doesn't exist. Or they just want money for exit scam.

"Survival of the Fittest" - only NFTs with a usecase will survive in the longterm!

I think it's not necessarily a scam, but rather a matter of right or wrong. If you're right, you make a profit, and if you're wrong, you have to accept the loss. I still find NFTs to be somewhat nonsensical, their value can be seen as speculative and exaggerated, and many famous people have incurred losses due to NFTs, like Justin, who lost over a million dollars.

Those who don't make a profit from it label it as a scam, while those who profit from it always praise it, just like when you invest in any project or field.

I think you missed the main thing of utility. If the nft have some utility,then it has good value. If NFT does not have any utility, value will be zero by some time.
Eg:
1. NFT Staking
2. Access to premium features
3. Play games and earn tokens

Yes and these nfts are illiquid and even they got some marketcap it still an auction style basis where you cant liquidate your asset right away. Most people think these nfts value are totally real but some of them are just hype. If you bid it and it got sold thats the only the reality of its actual value if not then its just a jpeg with a lucrative design.

I think the numbers still seem modest when it comes to this issue, NFT is a trend that has been over-hyped while the actual value of the features it fulfills is not too meaningful.

And it is easy to understand that when the bull cycle ends, people will see many truths revealed, projects that cannot adapt in this market will be eliminated, and also for the trend that has been established. Updated without any direction for development is also difficult to maintain.

It doesn't make sense if the price of NFTs is hundreds of thousands of dollars because the artwork is owned by someone famous but still it was a hype in more than a year people felt how hot the price of NFTs was at that time but the reality is now lost interest from investors, this is no worse than shitcoin.

I wonder what about the bullish trend in the following? Will it rise, I don't think it will happen instead there will be a new trend and NFTs will sink to no price at all later.

Not a fan of NFTs.

Nothing new TBH. I've seen these type of events happening in the crypto space for the past few years that I've been into crypto.

As for NFT's, this is the reason why I'm kind of hesitant to invest into lots of NFT games, and arts during it's hype. The fact that it doesn't have neither value nor, use case at all is what is on my mind. I mean just imagine those Bored Ape NFT's or those Mutant Yacht NFT's who are worth thousands of Ethereum, but they don't have any use-case at all or any benefits for the investors. How is that possible? I don't want to say it, but it's kind of a straight up scam, and who benefited from this one? Of course the one who created those animated JPG's, and PNG's. As for the investors? Bye-bye money of course.

Is NFT a scam? I want to say it is, but unfortunately for me it isn't. There are still some NFT games out there who are still operating despite of what's happening in the market for the last 2 years. I mean it also happened to DeFi where many projects turned out to be a scam. It's also the same with NFT's. I don't know if NFT's will recover after what happened to them, or they will become popular again after what happened in 2021, but I still believe that there will be a few NFT projects out there who will stay for... let's say at least 3 years or even more.

I am not surprised at all by this, even when a person makes a legitimate attempt to create art, the most likely scenario is that their art will be worth nothing as no one will want to buy it.

However NFTs were not a legitimate attempt at creating art, they were nothing more than a cash grab and everyone knows it, people were just trying to outsmart each other and obtain profits this way, but once the cash dried out the NFT market died really quickly as there was no one which was actually using NFTs for their stated purpose.

The concept of NFT itself is probably good, but then it is used in so many wrong ways. I don't want to generalize that NFT is a scam sector of the crypto market. They're not forcing people to buy it, although there are many sellers who make it appear as if those NFTs are a good investment opportunities. They are the scammers, those who market their NFTs while claiming that their prices will multiply several fold in the future. Those who bought are also partly to be blamed for being easily carried away by the sweet words of scammers.