Are NFTs overhyped? - page 5. | Bitcointalksearch.org

Kavelj22

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Quote from: btcltcdigger on November 19, 2021, 04:39:06 PM

Quote from: Abiky on November 19, 2021, 11:47:13 AM

NFTs are everywhere these days. From digital arts and paintings to in-game items, there's an NFT for everyone. Some NFTs are selling for big bucks, even when they don't have any intrinsic value. There's a lot of hype surrounding NFTs lately, where companies are joining the Blockchain bandwagon in order to obtain a piece of the pie. At the end of the day, real use cases for the mainstream world matters. It's not about hype, but rather about usability. I just don't see any real value to NFTs other than serving as purely speculative instruments (like "meme" coins).

Do you think NFTs are overhyped? If not, why? Your input will be greatly appreciated. Thank you.

Yes, overhyped to the core. Who in the right mind pays 100k for crptopunks? That's just a marketing scheme

Either it's a marketing scheme, or a way to launder money. Anyone can create a bullshit NFT collection and call it an art-work, offer it for sale with big amount of money, then buy it with dirty money.
For now, NFT market can be very helpful for gaming industry and few other fields for specific utilities, but are all the NFt acting for copyright ownership of art works are bullshits moved by hype.

FanEagle

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It is clear that NFT's and many "new" things in the crypto world are always overhyped, there is no scenario where I would imagine something new and innovative and great comes to crypto and would not get overhyped (or it is dead even before it starts). All I can imagine at this point is that some of them will get so low that they won't recover from the next crash, that's what happened with ICO period as well.

The real good ones stood still and defended themselves and used every move in their arsenal to not get destroyed, and the ones who didn't do much ended up getting destroyed and never seen again. Which means not every single NFT will be like this but the overhype for most of them are real. I mean I have seen some that went for 100k+ that worth nothing at all and will worth nothing at all. Since it is not a coin neither, there is nobody that will make it go up in value aside from the owner.

cafucafucafu

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Quote from: Abiky on November 19, 2021, 11:47:13 AM

NFTs are everywhere these days. From digital arts and paintings to in-game items, there's an NFT for everyone. Some NFTs are selling for big bucks, even when they don't have any intrinsic value. There's a lot of hype surrounding NFTs lately, where companies are joining the Blockchain bandwagon in order to obtain a piece of the pie. At the end of the day, real use cases for the mainstream world matters. It's not about hype, but rather about usability. I just don't see any real value to NFTs other than serving as purely speculative instruments (like "meme" coins).

Do you think NFTs are overhyped? If not, why? Your input will be greatly appreciated. Thank you.

I do think so.

I think that the majority of the NFT market is really just made up of people who are trying to make a quick buck instead of true technology believers.

The fact that the only value add they bring to the table are collectable art certainly doesn't help either.

dunfida

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Quote from: btcltcdigger on November 19, 2021, 04:39:06 PM

Quote from: Abiky on November 19, 2021, 11:47:13 AM

NFTs are everywhere these days. From digital arts and paintings to in-game items, there's an NFT for everyone. Some NFTs are selling for big bucks, even when they don't have any intrinsic value. There's a lot of hype surrounding NFTs lately, where companies are joining the Blockchain bandwagon in order to obtain a piece of the pie. At the end of the day, real use cases for the mainstream world matters. It's not about hype, but rather about usability. I just don't see any real value to NFTs other than serving as purely speculative instruments (like "meme" coins).

Do you think NFTs are overhyped? If not, why? Your input will be greatly appreciated. Thank you.

Yes, overhyped to the core. Who in the right mind pays 100k for crptopunks? That's just a marketing scheme

How you would take on this $1M Cryptopunk NFT?
https://www.youtube.com/watch?v=96hHc2HkZoo

People do just basically wasting up their millions or hundreds of thousands on something which doesnt really have any use.
I dont actually see the point on how they do really consider out on making investments with those pixelated things.

btcltcdigger

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Quote from: Abiky on November 19, 2021, 11:47:13 AM

NFTs are everywhere these days. From digital arts and paintings to in-game items, there's an NFT for everyone. Some NFTs are selling for big bucks, even when they don't have any intrinsic value. There's a lot of hype surrounding NFTs lately, where companies are joining the Blockchain bandwagon in order to obtain a piece of the pie. At the end of the day, real use cases for the mainstream world matters. It's not about hype, but rather about usability. I just don't see any real value to NFTs other than serving as purely speculative instruments (like "meme" coins).

Do you think NFTs are overhyped? If not, why? Your input will be greatly appreciated. Thank you.

Yes, overhyped to the core. Who in the right mind pays 100k for crptopunks? That's just a marketing scheme

maju69

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Quote from: Abiky on November 19, 2021, 11:47:13 AM

Do you think NFTs are overhyped? If not, why? Your input will be greatly appreciated. Thank you.

That is what makes it difficult to filter from the various types of NFT in circulation, all of which are almost difficult to find real uses other than the aesthetic value that is often put forward. Not a few fake NFT also enter the market and are traded, modifying other people's works as well as modifying, uploading and then selling them as if the NFT were their own copyright. Moreover, paintings that are currently digital-based are easy to manipulate in such a way and put them at a high price. The Binance Smart Chain network is easier to find, as the low fees are a hotbed for scammers to scam investors.

Mahanton

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Quote from: Abiky on November 19, 2021, 11:47:13 AM

NFTs are everywhere these days. From digital arts and paintings to in-game items, there's an NFT for everyone. Some NFTs are selling for big bucks, even when they don't have any intrinsic value. There's a lot of hype surrounding NFTs lately, where companies are joining the Blockchain bandwagon in order to obtain a piece of the pie. At the end of the day, real use cases for the mainstream world matters. It's not about hype, but rather about usability. I just don't see any real value to NFTs other than serving as purely speculative instruments (like "meme" coins).

Do you think NFTs are overhyped? If not, why? Your input will be greatly appreciated. Thank you.

Sort off and i would like to say the same thing too which people should really be aware off into those actions that they are making on which some of them going all in on things which shouldnt really be invested on.
You could really expect that there would be some trend which would poke up those project owners on creating scam projects and would really like to take up some share of the pie which it isnt
really that surprising whenever a hype do really comes in play.I have seen lots of projects had rug pulled and leave those investors behind and well thats part of the reality.

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Quote from: Abiky on November 19, 2021, 11:47:13 AM

NFTs are everywhere these days. From digital arts and paintings to in-game items, there's an NFT for everyone. Some NFTs are selling for big bucks, even when they don't have any intrinsic value. There's a lot of hype surrounding NFTs lately, where companies are joining the Blockchain bandwagon in order to obtain a piece of the pie. At the end of the day, real use cases for the mainstream world matters. It's not about hype, but rather about usability. I just don't see any real value to NFTs other than serving as purely speculative instruments (like "meme" coins).

Do you think NFTs are overhyped? If not, why? Your input will be greatly appreciated. Thank you.

Of course they are, the concept of NFTs is interesting after all being able to tell an original digital file from a copy has always been a problem so this seemed like a good solution to it and it could allow some artists that work on the digital field to benefit from what traditional artists have always benefited, which is the sell of their works to a selected number of clients, but this purpose has been completely distorted and now hype dominates the market, which tells me that once it is over the majority of those which invested in those coins are going to end up holding a bunch of original but valueless tokens for the rest of their lives.

isaac_clarke22

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They are and still kicking really really hard these days mostly NFT games.
Here in my country, I would say AXS to be specific. People still pursue for scholarships due to how expensive those whatever they're buying at is right now.
I am way off my time to pursue those kinds of stuffs.

dothebeats

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Most probably they are. NFTs are being used so much even on normal tokens/coins that don't really apply the essence of the term. There are also games that are just normal games in general, but because it 'exists in the blockchain, it automatically falls under NFT.

There are some Flash-like games on the NFT space that IMO will eventually lead to a rugpull. They are so overhyped and the token's price is insanely unreasonable for a game that is just like dice since you are just banking on the odds that are given to you by the game, and that it's just a coin toss in essence.

SquirrelJulietGarden

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Quote from: Abiky on November 19, 2021, 11:47:13 AM

NFTs are everywhere these days. From digital arts and paintings to in-game items, there's an NFT for everyone. Some NFTs are selling for big bucks, even when they don't have any intrinsic value.

It is a trend that has most basics of hype. People see NFTs of previous projects reach to amazing price and assume that new projects with sharp Whitepaper and well designed UI can help them to become next NFT-made billionaires.

I can not know what games will succeed or what game will fail. To succeed, a blockchain game must have good math model, tokenomics, good concept and UI design.

Design is only part of a game and can not make it succeeds without good concept and good tokenomics.

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buying NFT pieces or buying metaverse coins, i think the latter has upside and more diversified, choose your poison https://www.coingecko.com/en/categories/metaverse

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Quote from: Abiky on November 19, 2021, 11:47:13 AM

NFTs are everywhere these days. From digital arts and paintings to in-game items, there's an NFT for everyone. Some NFTs are selling for big bucks, even when they don't have any intrinsic value. There's a lot of hype surrounding NFTs lately, where companies are joining the Blockchain bandwagon in order to obtain a piece of the pie. At the end of the day, real use cases for the mainstream world matters. It's not about hype, but rather about usability. I just don't see any real value to NFTs other than serving as purely speculative instruments (like "meme" coins).

Do you think NFTs are overhyped? If not, why? Your input will be greatly appreciated. Thank you.

Definitely, they are over hyped and the hype is taking place in the next place by using the influence of top rated celebrities but they don't know what its actually for and they are not going to spend their money but we the stupid people if started to invest without any proper goal in the long term is just getting deceived by the hype.

Alanaz

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is NFT overhyped? I would very confidently answer this with a "yes" Cheesy

.
NFT is indeed in a pretty good trend but now and then their hype is too excessive and even exaggerated some people who want to make profits in it so they justify things like this for fraud and even to smooth their financial transactions to avoid taxes.
On the other hand, it's not impossible when the NFT is damaged by the people inside, as is now happening with negative news

israt1@

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NFTs could not capture the big market. They have just started to spread in the market. At present NFTs is not so much in hype. Their progress is far ahead. So it can be said that there will be a lot of hype ahead

ryzaadit

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Yes, what do you think?

Some stupid pixel, animal pictures can be created with the almost average designer in fiver without any use-case sold with some stupid price. Any-NFTs without any feature or use-case from my perspective is only hype. Most of them are insider trading, tax avoided and the target for money laundry in crypto space and we all know that. Even NFTs with such art and collectible, I more prefer is created by some real artist without only 1:1 circulation without any other same type picture/image with only different like some part or colour.

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Probably they are, both the arts, paintings and as well as the games. They will be put to test once another trend comes that will take the hype that's with the NFTs.
I think those digital arts that have started to be priced as that much have started the craze when there were NFTs that have been sold millions.

Abiky

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NFTs are everywhere these days. From digital arts and paintings to in-game items, there's an NFT for everyone. Some NFTs are selling for big bucks, even when they don't have any intrinsic value. There's a lot of hype surrounding NFTs lately, where companies are joining the Blockchain bandwagon in order to obtain a piece of the pie. At the end of the day, real use cases for the mainstream world matters. It's not about hype, but rather about usability. I just don't see any real value to NFTs other than serving as purely speculative instruments (like "meme" coins).

Do you think NFTs are overhyped? If not, why? Your input will be greatly appreciated. Thank you.

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