Are NFTs overhyped? | Bitcointalksearch.org

Abiky

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Quote from: isaac_clarke22 on December 01, 2021, 10:46:07 AM

This was the thought that bothers me also. What if someone just downloaded a stock image and just plainly edited them with their own skills in photoshop and published it in the internet. Imagine if they just gave it at a high price and someone bought it.

It's insane. This is no different than making money "out of thin air". Anyone can simply download an image from the web and sell it as their own for profit. I've seen many "digital arts" being sold for millions of dollars (USD) on the Blockchain, when they really have no intrinsic value. The hype is still on-going so the situation will only get worse. At least, the idea is there. Making it a success is another story. I hope NFTs don't see their fate like ICOs where governments destroyed them with fierce regulations. As long as the industry has legitimate use cases, there should be nothing to worry about. Just my opinion

ogundowotoby01

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NFT’s are the new trend and so one they can be really good for the future but most of them are just hype and there are so many these days…. Lets just see if something new comes around maybe they would take over or do you think NFT would do better than bitcoin in the future?

matchi2011

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Quote from: hodlftw on November 29, 2021, 04:34:05 AM

In general they probably are overhyped at the moment. But that certainly doesn't mean they can't be hyped up more to the point of breaking some proverbial bubble. Or is this just the beginning? Thats what we speculate on and it truly is fun. But to be fair, 1-2 years from now, most NFTs will not be worth too much. However, I can see some products like NBAtopshot rarer cards being valuable say 10-25 years from now. There is value, but it is select for sure.

It will be like Ico hyped in 2017, what better with NFT is that there are option if we will focus on digital goods or into gaming. It's somehow can be passion or hobby in investing while at the same time gaining profit. We must know particularly what we aim for so if theres a chance already for profit better grab it and seek another venture on where to gain profit while on hype than holding them too long.

Good point, unlike with ICO hypes, NFT provides an option that you can use your passion to enjoy while waiting for the value to rise.
NFT games which provide play to earn opportunity give investors entertainment that they can use to enjoy, aside from the earnings
developers also targeting those gamers to use their project as good alternative.

isaac_clarke22

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It will be like Ico hyped in 2017, what better with NFT is that there are option if we will focus on digital goods or into gaming. It's somehow can be passion or hobby in investing while at the same time gaining profit. We must know particularly what we aim for so if theres a chance already for profit better grab it and seek another venture on where to gain profit while on hype than holding them too long.

I wonder if there would be a day that this hype will calm down. Mostly NFTs mentioned in here were all game-related and I had never stumble upon other types of NFTs just yet. Maybe a good dump of NFTs would lead to calming down of the hype.
I recall one of the popular NFT here in my country almost dumped down and lowered by x11 starting back in June-July. People were making living with it, but right now, many are grinding really hard with the game.

ICO hype just died due to a lot of scams. I have not heard any NFT scams yet, but I know that part of crypto space aren't scam-proof.

Rehan Zakir

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Nft tokens are very popular now a days. And some nfts are getting very popular such as sports nfts, gaming nfts and influencers nfts.

isaac_clarke22

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Quote from: notsanta on November 27, 2021, 10:00:56 AM

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Not aware of that NFT, but just by reading that Zynga, which the one that made my childhood and teenager days due to those games you mentioned, made me remember a lot of nostalgic moment when I was playing FarmVille.
Kind of sad that they replaced the first FarmVille twice with their sequel. I never bothered playing anymore of their games. I was kind of expecting that they're going to make like card NFT games though.

Quote from: Abiky on December 01, 2021, 08:51:48 AM

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Seemingly most of the people I know that bought NFTs see that as just another in-game item that you could sell at a value depending on the market condition. I never even heard someone to say that it is sort of a "token".

Quote from: Abiky on December 01, 2021, 08:51:48 AM

What sense does it make to pay millions of dollars for an image you can find on the web for free?

This was the thought that bothers me also. What if someone just downloaded a stock image and just plainly edited them with their own skills in photoshop and published it in the internet. Imagine if they just gave it at a high price and someone bought it.

Abiky

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Quote from: harizen on November 24, 2021, 07:48:18 PM

Yes, it's overhyped. But unlike other trends before, there's something special with NFT that's why the hyped of it last long.

Although, as some others noticed, I also don't see any fundamentals or advantages of buying digital stuff and collectibles. Still, it's better to have those physically as it's worth more.

The NFT hyped is more valuable and makes sense to buy if it's about related to NFT games. They are the ones keeping the NFT hype and trend alive.

Most NFTs are full of hype, while some of them are not. It depends on what real use cases an NFT is able to provide to people in the mainstream world. NFTs which serve as in-game items are the only ones with intrinsic value. The rest are simply pure speculation. What sense does it make to pay millions of dollars for an image you can find on the web for free? This shows us the level of immaturity in the crypto/Blockchain space. Knowing that most people are making big bucks with NFTs, it shouldn't be long enough before governments begin cracking down the industry. Regulations will probably "kick in", effectively putting an end to the hype. Everything will be similar to the ICO hype of 2017.

I'd focus more on decentralized cryptocurrencies like Bitcoin and Ethereum than NFTs, since they're bound to last a lifetime. As long as you play your cards right, you'll have nothing to worry about. Just my thoughts Grin

justdimin

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Quote from: hodlftw on November 29, 2021, 04:34:05 AM

In general they probably are overhyped at the moment. But that certainly doesn't mean they can't be hyped up more to the point of breaking some proverbial bubble. Or is this just the beginning? Thats what we speculate on and it truly is fun. But to be fair, 1-2 years from now, most NFTs will not be worth too much. However, I can see some products like NBAtopshot rarer cards being valuable say 10-25 years from now. There is value, but it is select for sure.

Yes, majority of them are seriously overhyped. But even at that we do know that there are genuine ones that are really good, and among the good ones there are still going to be the bad ones in the market as well.Making the right choice when it comes to NFTs requires you to be very selective, you shouldn’t just buy any NFT you see , some of them might not be worth anything good in future.So, anyone that is buying NFT now really have to be selective of the choice they make, or they would definitely end up being sorry for themselves.

Although at this point I still think that the market is going to be mostly profitable due to the hype, so most of the tokens you are going to be getting now are more likely to yield profit, and the profit is coming from the hype in the market. So the question is which of them is really going to stay when this hype is over?

hodlftw

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In general they probably are overhyped at the moment. But that certainly doesn't mean they can't be hyped up more to the point of breaking some proverbial bubble. Or is this just the beginning? Thats what we speculate on and it truly is fun. But to be fair, 1-2 years from now, most NFTs will not be worth too much. However, I can see some products like NBAtopshot rarer cards being valuable say 10-25 years from now. There is value, but it is select for sure.

jeungo

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Given the uniqueness, and the presence of interesting personalities behind these electronic works of art, their cost can be justified. But often we see a series of primitive works, the cost of which is overestimated due to the high hype, and the insane injection of money. Plus, many such works are on the Ether network, where the gas price is high, and the price starts from the gas cost + the seller's interest.

Alice Bloom

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Quote from: Jason Rubar on November 28, 2021, 11:27:30 AM

Quote from: Alice Bloom on November 28, 2021, 02:07:32 AM

It seems that now the world is divided into three camps: those who like NFT; those who think this is a stupid waste of money; and those who do not even know about them or do not care. Personally, I like some works of digital art, and the rest I consider to be indispensable.

And which NFTs do you like? I haven’t found anything exciting or original, which I haven’t seen before.

I like FAPP, and I have not seen anything more exciting and original. For me, many NFTs lack imagination. By the way, here is the link https://bitcointalksearch.org/topic/ann-fapp-minting-starts-on-november-23-nft-nsfw-links-inside-warning-5370296

South Park

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Quote from: SquirrelJulietGarden on November 20, 2021, 10:05:19 AM

Quote from: Russlenat on November 19, 2021, 04:14:44 PM

NFT are very popular now so probably it's overhyped. Also, we are in a bull market so anything new will easily sell, and though there are NFT's that are really good for the long term I believe just like other projects, ICO, IEO and etc, only few will survive as the rest are just joining the hype hoping they could sell and scam investors.

People mostly think of NFTs are something bind with games that is untrue. With NFT, you can mark the ownership of anything from game items to financial reports, medical records or arts.

Therefore, I meant NFTs have very wide area of use cases and this will help this trend last even after the bull market. I don't think NFT will die or disappear like PoS and Masternode or ICO. There will be more successful NFT projects than any trend in the past.

Don't forget the Metaverse trend is coming with ETH, Facebook and perhaps more Big techs will join.

The concept of NFTs is interesting and that is not up for debate, the issue with NFTs right now is that they are being used to scam unsuspecting people by selling them something that will never have value, while some others are using those tokens to launder money in an easy way, so while I think digital assets that you know only belong to you have a future, the current market full of speculation that we are seeing right now is what I do not think is going to survive for long.

Jason Rubar

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Quote from: Alice Bloom on November 28, 2021, 02:07:32 AM

It seems that now the world is divided into three camps: those who like NFT; those who think this is a stupid waste of money; and those who do not even know about them or do not care. Personally, I like some works of digital art, and the rest I consider to be indispensable.

And which NFTs do you like? I haven’t found anything exciting or original, which I haven’t seen before.

xSkylarx

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Quote from: GrigoryGaga on November 27, 2021, 11:22:03 AM

I am a person who is very far from collecting, and I wouldn't say I like the hype around NFT. It seems that they do not have any unique value; the price does not correspond to the quality.

Yes, I agree, but in terms of NFT games, I believe I am hooked on it and ready to invest in it because we have seen that there are a large number of people playing play to earn games and earning money, on which people who do have money choose to invest their resources. While there are still people who buy paintings or artworks or other items because they want it, we don't always know why they are doing so. However, we should respect them because they are investing their money in it.

Alice Bloom

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It seems that now the world is divided into three camps: those who like NFT; those who think this is a stupid waste of money; and those who do not even know about them or do not care. Personally, I like some works of digital art, and the rest I consider to be indispensable.

GrigoryGaga

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I am a person who is very far from collecting, and I wouldn't say I like the hype around NFT. It seems that they do not have any unique value; the price does not correspond to the quality.

Galley

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With the hype surrounding the NFT, they have become, as expected, overpriced. In fact, they have no real value. Of course, this does not apply to works of art or copyright photographs of famous people. There are possible options for using such NFTs, and that is desirable in a single copy.

Porfirii

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Quote from: notsanta on November 27, 2021, 10:00:56 AM

i think play to earn games (nfts)will have some of the most utility, see $GALA games for example. the CEO of zynga the company who made farmville and mafia wars some of the most viral games in early facebook days, now leads gala. their games are actually fun. I'm bullish on $axie infinity as well.

but other nft's no. unless you are in a massive community like bayc or cp most will be flops

I agree. NFTs are not just overhyped, but overhyped in the wrong way.

Briefly, I think that they are undervalued in some way, while overhyped. How is this contradiction possible?

Because a huge percentage of Non Fungible Tokens are simply trash (same story that ICOs back in 2017/18), but I believe that we are still far from seeing the true potential of the concept itself. Correctly applied, NFT technology can be huge. I don't know if it will be for in-game items, artistic products or whatever. It may even explode with something that hasn't been invented yet (some kind of wearable that will be mainstream in the future, a little brainstorming here). But, in the meantime, we are focusing on the fireworks.

notsanta

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Quote from: Abiky on November 19, 2021, 10:47:13 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 think play to earn games (nfts)will have some of the most utility, see $GALA games for example. the CEO of zynga the company who made farmville and mafia wars some of the most viral games in early facebook days, now leads gala. their games are actually fun. I'm bullish on $axie infinity as well.

but other nft's no. unless you are in a massive community like bayc or cp most will be flops

dbc23

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At some point the hyping is needed but its wise to trade with caution. NFTs are virtually everywhere and one just need to take caution because scammers would soon invade the projects if they haven't already. We have so many varieties of NFTs currently and definitely not all will do well

coinzona

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Yes, NFT going to be a massive dump someday, NFT is only about hype like Meme coin. IMHO.
Starting today, the next big thing is the metaverse project.

kojektea

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NFT is a new concept in cryptocurrency this year. The value of ny is in the maker like you buy a painting that can only be made by that person. Of course, if the person who painted wants to sell it at a high price. NFT has something in common with that. This can also be interpreted as a land certificate that becomes a sign of property rights. It's just that, such cryptocurrency regulations have not been perfectly directed. Perhaps in the future the owner of the company has his own NFT as the official owner of the company.

matjas

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Quote from: blockman on November 19, 2021, 10:53:08 AM

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.

I only see potential value in gaming world, there will be limited number of popular gaming NFTs since you cant just make good games every week all the time. When it comes to art, anyone can draw anything and keep doing it no matter what. We already see how many new art NFTs are coming to market every week, its just sick that people think every single thing will be worth something in the next few years. Please be careful what you buy.

Jason Rubar

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When I first heard about NFT, I also thought it was more of a bloated story. And then I looked, bought myself one, and then resold it for a lot of money. It seems to me that people love to collect something. Look how many numismatists there are today. It is this art collecting, only on a new level.

Hypnosis00

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I can't see it was unless the drops have occurred right after the surge but we never see it, instead of seeing them continue to make a rally despite that negativity. Maybe for some NFT's who are worthless and have no use-case project, but these gambling platforms make such an interesting trend due to the P2E market promotion where the they adopt the situation and encourage gamers which eventually increase the demand.

adiebitsler

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Quote from: Valak on November 25, 2021, 03:44:43 PM

The lack of identity verification and high-end creation, NFT doesn't really support artists in the long term. It has potential as a way for artists to earn money and royalties. However, there are many issues that must be addressed in order to provide more protection for artists, in particular pointing to examples of fraud and plagiarism in the NFT space.

What you said is very good and if improvements can be made in the next year, then NFT enthusiasts will continue to increase in the next year with the birth of very interesting things and can support an increase in income for new artists as well.

ansarose1

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Some may say it's definitely or crypto enthusiasts were just overhyped by NFT's projects but in some instances even it's overhyped it shows good outcome and good productivity in cryptocurrency business. It could give a good trend for those who are going to be part of it and i think it could pull people into crypto investments. So, as a result, it could be a good factor in cryptocurrency business.

LUCKMCFLY

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For me they depend on the Value they give it, the best of all NFTs can be created, but people have to feel a feeling of belonging based on it, of course that a speculative market can be created based on mere demand and offer, currently there are many NFTs that are coming out, be it artists, or some NFT game, whatever, but the important thing for its value to prevail over time has to be to the liking of many, and this includes an immense community In fact, sometimes the community is what drives an NFT project to reach the top and always stay on top.

Oilacris

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NFT is not bloated. This is a genius direction and has not yet been fully disclosed.
If NFT, then only Hangry Animals. I am absolutely delighted with this project. I can't wait for the public sale. There is very little time left, do not miss the opportunity.

Its not really that obvious that you are just shilling it out and also its really that something been hyped as of this moment when we do talk about NFT's.
We've been flooded out lots of games now specially into this section of NFT's yet there are lots do end up on being a scam which it isnt surprising that there would something like this.
As an investor you should really be that wise on where youre dealing with and be sensible or aware with your actions.

Valak

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The lack of identity verification and high-end creation, NFT doesn't really support artists in the long term. It has potential as a way for artists to earn money and royalties. However, there are many issues that must be addressed in order to provide more protection for artists, in particular pointing to examples of fraud and plagiarism in the NFT space.

indah rezqi

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Quote from: tarable on November 23, 2021, 08:09:06 AM

Quote from: indah rezqi on November 23, 2021, 07:39:17 AM

In terms of usability, NFT is indeed a lot of positive. From usage, it will affect the level of sustainability, especially since NFT projects are able to enter into several sectors, from games to music. From this I can tell that NFT is not overly hype.

In general, this is the case, but from some aspects NFT is entering only the Game side that is able to make it more popular and famous, but it will be very different for next year with some new things to come in the crypto space.

In the gaming sector, NFT is indeed able to raise a level of popularity, even I myself initially thought that the NFT project was only for the gaming sector. However, after some time, it turns out that the NFT project has also entered other sectors so that the positive effect is that many public figures choose NFT for investment.

harizen

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Quote from: Abiky on November 19, 2021, 10:47:13 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, it's overhyped. But unlike other trends before, there's something special with NFT that's why the hyped of it last long.

Although, as some others noticed, I also don't see any fundamentals or advantages of buying digital stuff and collectibles. Still, it's better to have those physically as it's worth more.

The NFT hyped is more valuable and makes sense to buy if it's about related to NFT games. They are the ones keeping the NFT hype and trend alive.

Tengricrypto

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7788bitcoin

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Quote from: Quidat on November 24, 2021, 05:16:05 PM

Sort of but not really that much because some of them does really have some real use case but cant deny that majority of them are just some sort of collection which you should really be that mindful on engaging with these projects so that you would not likely to lose money
just because they are totally shit or do lose their value.For now the best NFT's i do see which do sticks out on gaming imho.

Most of the NFT projects are collectibles and i am yet to see the full utility of these projects, Metaverse could be the future but we are yet to experience them in full capacity. Only time will tell what the future holds for the NFT market. Some of the projects will die out eventually like any other projects that are starting during the initial hype and only a few will last for the long term.

cloudfir3e

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for me NFT coins are not exaggerating, only now NFT coins are becoming a trend in the crypto world even though they do not have a definite function.
but for the price issue i was surprised when i saw the price of the NFT coin that had appeared in 2017. namely the CRO1 coin.
CRO1 has a value of $13,000 and is currently very much in demand.
maybe someone who is active in 2017 knows about NFT CRO1

Woodie

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I thought they were a great addition to the crypto ecosystem in the beginning as I saw this being part of its diversification and playing an inclusive role in terms of art. But a look what they have become today, I think they are just the trending subject everyone keeps talking about...which could be easily mistaken to being overhyped. But in the actual sense this is when they are gaining ground as more people get to know of them, which makes them an art piece which is still a work in progress.

Quidat

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Quote from: Abiky on November 19, 2021, 10:47:13 AM

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

Sort of but not really that much because some of them does really have some real use case but cant deny that majority of them are just some sort of collection which you should really be that mindful on engaging with these projects so that you would not likely to lose money
just because they are totally shit or do lose their value.For now the best NFT's i do see which do sticks out on gaming imho.

tygeade

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Quote from: Abiky on November 24, 2021, 11:58:35 AM

It's always been full of hype. People are getting scammed big time by purchasing so-called "digital art" with no intrinsic value. Most digital arts in the forms of NFTs are simply images that can be found on the web for free. I wouldn't waste my time and money into these kind of NFTs except for digital in-game items and collectibles.

The worst part about this whole NFT thing is that they keep defending as "you can't value art objectively, it may worth 5 bucks to you, may worth 5 million to someone else" and make a claim that the hat wearing monkey or cyberpunk robots should worth millions because of it.

If anyone seriously considers them "art" then I am sorry but you are severely mistaken and you should not be considering that as investment but you deserve to lose all of your money and I would not feel bad for you, I hope they go to 100 million each because I rather have everyone profit as much as possible but that doesn't mean that I can see it happening at all. Art is art, this is just hype.

Abiky

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Quote from: LogitechMouse on November 23, 2021, 04:22:36 AM

When the people know that there is money on it, they will do everything just to jump into it and make money thus creating this hype.
When ICO has been the hype, many developers and people earned money from it and many projects too turned into a scam.

Same thing will happen to NFT's. TBH, I just don't understand why in the hell these investors are buying a pixelated JPEG art hoping that they will earn money from it. I mean I'm not good at art but I don't see the real value into most of the NFT arts out there. With regards to NFT gaming, most of them will become rug pulls or a dead game. Though some will become successful, a huge number of NFT games will be dead especially when the bear market comes.

It's always been full of hype. People are getting scammed big time by purchasing so-called "digital art" with no intrinsic value. Most digital arts in the forms of NFTs are simply images that can be found on the web for free. I wouldn't waste my time and money into these kind of NFTs except for digital in-game items and collectibles. The industry will be put up to the test during a long-lasting bear market. Right now, the crypto market is bearish so I'd expect interest into NFTs to decline at a slow pace. I'm pretty sure regulators will come in, as they'd want a piece of the pie. Just like ICOs were destroyed because of government regulations, NFTs will have the same fate. What matters is crypto/Blockchain tech. As long as people are able to achieve financial freedom, there should be nothing to worry about. Just my thoughts Grin

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Quote from: Smitty Werben Man Jensen on November 24, 2021, 04:54:06 AM

Quote from: Al Qiyamah on November 23, 2021, 08:52:47 PM

Yes, this can be considered too much hype, there are many items that are made into NFT products and sold at unreasonable prices.And now many big companies are starting to look at the NFT platform and enter into it. Maybe one day there will be a new trend that can shift NFT hype is like the rise of ICOs a few years ago.

Yes, I often find ordinary picture products but are sold at a high price and the price doesn't seem to match the picture,
even so NFT is used by many people to make a profit,
I hope so too and we'll see in the future

Taking your chances in investing with this kind of venue needs of having good anticipation and a big nerve,

chances of losing with the common hypes is unpredictable, there are many NFT projects that shows a very huge value, investors are willing

to buy, in hope that lick will come and bring them huge amount of profits.

Always going to depend from how you understand the market and how you will take care of your investment.

wissy

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There is no doubt that NFTs are over inflated right now and are, along side MEME tokens, the biggest bubble potential of this bull run. Simmilar to ICOs back in 2017, NTFs traders are way over their heads. There is now way, that NTF will keep the current price, yet alone reach higher value in the future. Its just sick to see how many “art” works are being added to ETH right now, and I am sure this will be the cause for next burst.

Smitty Werben Man Jensen

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Quote from: Al Qiyamah on November 23, 2021, 08:52:47 PM

Yes, this can be considered too much hype, there are many items that are made into NFT products and sold at unreasonable prices.And now many big companies are starting to look at the NFT platform and enter into it. Maybe one day there will be a new trend that can shift NFT hype is like the rise of ICOs a few years ago.

Yes, I often find ordinary picture products but are sold at a high price and the price doesn't seem to match the picture,
even so NFT is used by many people to make a profit,
I hope so too and we'll see in the future

bakasabo

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Quote from: Wapfika on November 23, 2021, 08:24:40 AM

Quote from: bakasabo on November 23, 2021, 03:35:26 AM

I think that most of NFT are extremely overhyped. As they are digital art, I would say that they are not quite unique. Anyone can copy them. Copied NFT would just have different address or contract, but the content remains the same. But if you take for example original painting of Leonardo Da Vinci Mona Lisa, no matter how good the copy would be, it will still be just a copy. And it clear why it cost so much. But when I see that digital art, or pixels, or a "1 and 0" cost millions - that is something I cant understand.

Those digital arts can be their investment in today’s technology. This simply shows how their ownership of that content. We will know the value of that art if we have a heart for it like how others enjoy NFT games but didn’t want to do trading. It’s not overhyped due to it’s broad scope and many projects to coordinate with. If we’re able to buy a good art that can have a value in a near future or a game that will give crazy time for players then the hype will continue to live in NFT.

If you say that NFT are not overhyped, then how can you explain why each and every crypto project now tried to issue NFT, offer NFT, trade NFT ? Instead of releasing a product, project issue NFT that offers opportunity to get a product. And it does not fit in my head how a cryptopunk NFT could be sold for $530 millions. This not even an art, this is a just a face made of pixels. Anyone in MS Paint can do that.

Al Qiyamah

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Yes, this can be considered too much hype, there are many items that are made into NFT products and sold at unreasonable prices.And now many big companies are starting to look at the NFT platform and enter into it. Maybe one day there will be a new trend that can shift NFT hype is like the rise of ICOs a few years ago.

sana54210

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Quote from: Wapfika on November 23, 2021, 08:24:40 AM

Those digital arts can be their investment in today’s technology. This simply shows how their ownership of that content. We will know the value of that art if we have a heart for it like how others enjoy NFT games but didn’t want to do trading. It’s not overhyped due to it’s broad scope and many projects to coordinate with. If we’re able to buy a good art that can have a value in a near future or a game that will give crazy time for players then the hype will continue to live in NFT.

I would understand if it was simply just regular art that we know and you could have ownership of it in NFT and it was used that way, so you could show your ownership digitally and that would be good for collectors.

If NFT was just something for the art world and painters and art collectors and art investors all used that tech then this could have been one of the best things ever in the world. However the problem is that people are paying millions for monkeys... I mean you can't defend that to me, I do not care what you want to say, just because there is a weird "fun" collection out there and there is a unique one in there, that doesn't make it million dollars worth, it is totally worthless to me.

asyakashi

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I think NFT is a reasonable hype. Nft is also described as a license to mark the ownership of an item. Usually the owner has only one mark of ownership as proof. To sell the property at a high price is good. Unfortunately, many irresponsible people take advantage of this by copyrighting to make nft and then sell it. It's cheating.

isaac_clarke22

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Quote from: Abiky on November 21, 2021, 10:12:06 AM

~

Not even a lot of people really care about what NFTs are in the end. It is all about the financial benefit that they get from it. People here in my country were all chasing for NFTs right now, scholarships to be specific.
From what you said, what many saw is only that it is "digital collectibles" like in-game currency which has been around for years around the world.

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Quote from: bakasabo on November 23, 2021, 03:35:26 AM

I think that most of NFT are extremely overhyped. As they are digital art, I would say that they are not quite unique. Anyone can copy them. Copied NFT would just have different address or contract, but the content remains the same. But if you take for example original painting of Leonardo Da Vinci Mona Lisa, no matter how good the copy would be, it will still be just a copy. And it clear why it cost so much. But when I see that digital art, or pixels, or a "1 and 0" cost millions - that is something I cant understand.

Those digital arts can be their investment in today’s technology. This simply shows how their ownership of that content. We will know the value of that art if we have a heart for it like how others enjoy NFT games but didn’t want to do trading. It’s not overhyped due to it’s broad scope and many projects to coordinate with. If we’re able to buy a good art that can have a value in a near future or a game that will give crazy time for players then the hype will continue to live in NFT.

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Quote from: indah rezqi on November 23, 2021, 07:39:17 AM

In terms of usability, NFT is indeed a lot of positive. From usage, it will affect the level of sustainability, especially since NFT projects are able to enter into several sectors, from games to music. From this I can tell that NFT is not overly hype.

In general, this is the case, but from some aspects NFT is entering only the Game side that is able to make it more popular and famous, but it will be very different for next year with some new things to come in the crypto space.

indah rezqi

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In terms of usability, NFT is indeed a lot of positive. From usage, it will affect the level of sustainability, especially since NFT projects are able to enter into several sectors, from games to music. From this I can tell that NFT is not overly hype.

HodlerKing101

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I wouldn't say that NFTs are overhyped, they have their own use cases both on the collectibles and gaming space. One of the insider VCs I know said that this hype will continue until March next year.

I'm a big buyer in NFTs at OpenSea and collectors like me are into 1 out of 1 rare stuff.

While in gaming, I'm a big fan of card games and projects like $ANRX has that coming up, together with their bootcamp campaign to reward users.

NFTs are just starting, we should see more big companies like Adidas getting into it.

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Quote from: Abiky on November 19, 2021, 10:47:13 AM

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

When the people know that there is money on it, they will do everything just to jump into it and make money thus creating this hype.
When ICO has been the hype, many developers and people earned money from it and many projects too turned into a scam.

Same thing will happen to NFT's. TBH, I just don't understand why in the hell these investors are buying a pixelated JPEG art hoping that they will earn money from it. I mean I'm not good at art but I don't see the real value into most of the NFT arts out there. With regards to NFT gaming, most of them will become rug pulls or a dead game. Though some will become successful, a huge number of NFT games will be dead especially when the bear market comes.

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Quote from: Google+ on November 23, 2021, 03:25:06 AM

Quote from: judaspriest on November 21, 2021, 05:41:14 AM

Everyone certainly has their own views regarding the NFT project and I personally see that NFT is a project that has potential,
it's true when we use it well of course it will generate profits,
I think NFT is a new project in crypto and hope it will continue to grow

Although many already know about NFT in the crypto space, there are not as many users as other projects in the past because there are still many people who don't know how to use NFT in the crypto space at this time.

There are still many who do not really understand about NFT,
can say this NFT is a new project in crypto and I see NFT is one of the potential projects,
I hope it will continue to grow in the future

bakasabo

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I think that most of NFT are extremely overhyped. As they are digital art, I would say that they are not quite unique. Anyone can copy them. Copied NFT would just have different address or contract, but the content remains the same. But if you take for example original painting of Leonardo Da Vinci Mona Lisa, no matter how good the copy would be, it will still be just a copy. And it clear why it cost so much. But when I see that digital art, or pixels, or a "1 and 0" cost millions - that is something I cant understand.

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Quote from: judaspriest on November 21, 2021, 05:41:14 AM

Everyone certainly has their own views regarding the NFT project and I personally see that NFT is a project that has potential,
it's true when we use it well of course it will generate profits,
I think NFT is a new project in crypto and hope it will continue to grow

Although many already know about NFT in the crypto space, there are not as many users as other projects in the past because there are still many people who don't know how to use NFT in the crypto space at this time.

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Quote from: cafucafucafu on November 19, 2021, 04:02:26 PM

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.

That's certainly true, mate. It's all about greed instead of believing on the technology to make our world a better place. As long as there's money to be made, nothing else matters. People are wasting a lot of money buying things without any intrinsic value (especially pictures you can find on the web for free). They'll be "rekt" once everything goes all the way down the drain. In my opinion, the only NFTs that are truly valuable are in-game items and certain digital collectibles. The rest are simply a gamble as they could become worthless in an instant due to loss of interest from people in the mainstream world. This emerging industry has the potential to revolutionize the world of collectibles as we speak. But everything will depend on how many issuers are able to provide quality NFTs to the masses. Regulations are something they'd need to consider before launching a new NFT on a public blockchain network. As long as NFTs have legitimate use cases, they'll last for quite a long time. Just my opinion

dupee419

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In general, yes, NFTs are overhyped, but when you talk about specific token, some of them are and some of them are underrated, some value of tokens tend to die and some are growing, NFT's are everywhere and expect that majority of these tokens that are being sold is pretty much hype, when investing on NFT, find a token that really seems to be promising as these tokens cost really expensive.

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Quote from: Abiky on November 19, 2021, 10:47:13 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.

IMHO, I believe yes most NFT's or Non-fungible tokens are just overhyped that's why the risk is also high while holding those unfamiliar NFT's so just take extra precaution while investing in NFT's just choose the reliable one and avoid those fake and fly by night platform, I believe that those digital collectibles will also go down soon like what happen to others after the hype was cool down.

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Quote from: Brus123 on November 21, 2021, 12:43:31 AM

Quote from: Abiky on November 19, 2021, 10:47:13 AM

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

Actually, I think that the whole crypto market is overheated now, that is why it must be a correction. As for NFTs, it the most trendy thing but hype can't last for a too long-period of time, so maybe NFTs will be also abandoned for a while. Nevertheless, I think that interest in them will remain and developers will found new projects that will set up new waves of hype around this sphere.

Instead of saying NFT will be abandoned, we should assume neutral that the NFT will have saturation because the performance of NFT is currently very high due to too many new properties to exploit but over time, we have also noticed that the NFT is starting to lose its original color and harmony, once the mixing is not favorable and causes a lot of discomfort, the NFT will go into a state of maintenance and slow development to preserve meaning. The meaning in terms of form and role will still have a unique feature in the future, but it will not be as widespread as it is now when everything is still too special and profitable.

darmin

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For me this is a natural thing. NFT is unique and collectible because digital objects are the only ones then we are free to collect as we wish, if this becomes a rare thing it will be profitable. But on the other hand the NFT itself does not have definite rules and is very speculative and this makes overhead because it does not necessarily have a clear purpose.

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I think NFT had a purpose and it was going to achieve those purpose and could still, but for the influencers that were up on it's neck, crypto-currency has a new worry -although old but it's getting worse now- and that is activities of Influencers, their activities can sell out any NFT, memecoins and anime but for only a time period, if crypto-currency adoption will last long, then influencers has to influnce project that they are truthfully about and not project that they have been paid to influence, NFT in my thoughts has no look term future anymore.

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Just because few NFTs made big profit people come to a conclusion on the whole that investing in NFT will bring good profit. I believe this to be same as the ICO hype that made worthless projects make good profit by the bull market. Once after the bull market those projects weren't available anymore in the market. NFTs too might turn into such scenario, so make use of the market accordingly.

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Most of them are overhype so be careful to make your own personal research before investing in any of them especially those newly games that offer huge ROI because most of them have only come from the past games that already been vanished after they got huge money from their late investors so they've just created new ones to fools us. They have been acting like the old cloud mining industries which where most of them were busted due to their nature where they were just pretending to be legit in the beginning but a poisonous snake in the ending because they ran away when they get what they were after.

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Quote from: Brus123 on November 21, 2021, 12:43:31 AM

Quote from: Abiky on November 19, 2021, 10:47:13 AM

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

Actually, I think that the whole crypto market is overheated now, that is why it must be a correction. As for NFTs, it the most trendy thing but hype can't last for a too long-period of time, so maybe NFTs will be also abandoned for a while. Nevertheless, I think that interest in them will remain and developers will found new projects that will set up new waves of hype around this sphere.

I believe, the question was if NFTs are overhyped in general, and not just at the moment. Therefore, there should not be much correlation with the current situation on the market.

Quote from: aprilnot on November 21, 2021, 03:48:14 AM

Quote from: Abiky on November 19, 2021, 10:47:13 AM

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

not too overhyped, but just getting out of hand. NFT is an attraction for the market, but its insanely expensive price makes it look weird. many think NFT is based on pure speculation and there is no art in it. only with influence, one can sell NFT at a high price and otherwise original artwork made by an unknown person will only be priced cheaply.

They may not always be seen as an artwork. A huge amount of NTF was created only with the aim of making money, using the already existing popularity of some celebreties. So they found another way to monetize their own fame without generating anything creatively worthwhile, that could be concidered as art. A completely different question is why most people like it and they support the hype. As for me, NTFs are another manifestation of how people can get in touch with their idols.

Oasisman

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Quote from: Abiky on November 19, 2021, 10:47:13 AM

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

It's not actually over hyped If it wasn't over priced in the first place. Rich people made it more like it's something really valuable in the long term, thus pricing those digital arts called NFT with luxurious price.
Now, what's over hyped is the p2e NFT games that relentlessly coming out in the public everyday. Because people actually loves an active investment where you can dictate yourself how much would you like to earn everyday than buying a digital art hoping for it to increase it's value in the future.

Ararbermas

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For a normal investors its over hype but for those investors whose been here in space for years for sure it's not, i mean not that much.. because we all knows that NFT'S is very popular in different ways such games and arts etc, and for sure most of the speculation with it is another 2x improvement in the future or more as they're keep showing good performance and still getting more attention all over the world because of some popular people as well behind of some NFT's projects. So for me in my personal opinion i can say that this is just beginning for NFT's wherein there's more surprises in the near future..

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As for me, yes, they're overhyped especially if players are earning through it. However, there are also NFTs that have a huge potential in a long run. Some projects are just good for profit-taking because they don't have a specific whitepaper and sometimes they couldn't handle the game or even control the farming supply of the game. That's why we still need to be skeptical in picking an NFT.

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Quote from: Google+ on November 21, 2021, 04:20:42 AM

Quote from: smartaction on November 21, 2021, 04:06:14 AM

At present NFT marketplace has got a much popularity. And now the NFT project is constantly coming to market. And most NFT projects are succeeding which is why everyone is increasingly attracted to NFT project so it seems NFT project is now overhype

I only saw NFT as an ordinary project and never had more interest in it because overhyped projects can also end very sadly, but taking advantage of it at this point is a very viable strategy for everyone in the crypto space too.

Everyone certainly has their own views regarding the NFT project and I personally see that NFT is a project that has potential,
it's true when we use it well of course it will generate profits,
I think NFT is a new project in crypto and hope it will continue to grow

cryptomaniac_xxx

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Quote from: pakhitheboss on November 21, 2021, 04:53:21 AM

Many big celebrities and companies are now investing or exploring this zone. At the moment the hype has gone down but with recent announcement by facebook it is going to pick up once again. I am still learning new things and checking new projects in this space. One thing I realised is to avoid Ethereum based NFT as you will end up paying more for transaction fee than the actual cost of the product.

The hype are still there, recently it was Ronaldinho, one of the best football player of recent generations.

https://www.thestreet.com/crypto/news/new-nft-marketplace-launching-with-ronaldinho

I do agree though, Ethereum based are to be avoided for now, because of the exorbitant fees.

So I would say that NFT's currently are overhype, no offense, everyone can just make some art and then make money out of it.

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Quote from: SquirrelJulietGarden on November 20, 2021, 10:05:19 AM

Quote from: Russlenat on November 19, 2021, 04:14:44 PM

NFT are very popular now so probably it's overhyped. Also, we are in a bull market so anything new will easily sell, and though there are NFT's that are really good for the long term I believe just like other projects, ICO, IEO and etc, only few will survive as the rest are just joining the hype hoping they could sell and scam investors.

People mostly think of NFTs are something bind with games that is untrue. With NFT, you can mark the ownership of anything from game items to financial reports, medical records or arts.

Therefore, I meant NFTs have very wide area of use cases and this will help this trend last even after the bull market. I don't think NFT will die or disappear like PoS and Masternode or ICO. There will be more successful NFT projects than any trend in the past.

Don't forget the Metaverse trend is coming with ETH, Facebook and perhaps more Big techs will join.

That's what some investors do understand about NFT, it's more on a play-to-earn game that's why it's so hype, but the hype does not really stay forever because only those projects with continuous development and good plans are on their future will survive and be successful.

pakhitheboss

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Many big celebrities and companies are now investing or exploring this zone. At the moment the hype has gone down but with recent announcement by facebook it is going to pick up once again. I am still learning new things and checking new projects in this space. One thing I realised is to avoid Ethereum based NFT as you will end up paying more for transaction fee than the actual cost of the product.

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I have the same kind of questions on NFTs and though I must admit that all the surrounding excitement and hypes around it can sometimes be so enticing. Who would not be attracted to making money by selling pictures of rocks or those punks? Honestly, even if you are now the legal owner of a picture of a rock...what will it do to you aside from the opportunity to soon or in the future sell it a hundred fold? Right now, it is so easy to mint NFTs but of course there is no guarantee that you can sell them easily not unless of course you happen to be a famous star or a celebrity of some sort. Now, will NFT have a good, bright and lucrative future? The answer can be yes but there comes a time when the industry will consolidate and buyers will really be looking for real value so that when the smoke clears only those genuinely valuable can survive...how the market will define value can be an exciting to watch.

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Quote from: smartaction on November 21, 2021, 04:06:14 AM

At present NFT marketplace has got a much popularity. And now the NFT project is constantly coming to market. And most NFT projects are succeeding which is why everyone is increasingly attracted to NFT project so it seems NFT project is now overhype

I only saw NFT as an ordinary project and never had more interest in it because overhyped projects can also end very sadly, but taking advantage of it at this point is a very viable strategy for everyone in the crypto space too.

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Quote from: Abiky on November 19, 2021, 10:47:13 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.

At present NFT marketplace has got a much popularity. And now the NFT project is constantly coming to market. And most NFT projects are succeeding which is why everyone is increasingly attracted to NFT project so it seems NFT project is now overhype

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Quote from: Brus123 on November 21, 2021, 12:43:31 AM

Quote from: Abiky on November 19, 2021, 10:47:13 AM

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

Actually, I think that the whole crypto market is overheated now, that is why it must be a correction. As for NFTs, it the most trendy thing but hype can't last for a too long-period of time, so maybe NFTs will be also abandoned for a while. Nevertheless, I think that interest in them will remain and developers will found new projects that will set up new waves of hype around this sphere.

In fact, I feel pessimistic about this NFT because from all angles they are too overhyped and now there are lots of frauds and manipulations there and it is not impossible if they will only last for a while after that they will be abandoned.
I hope something like this doesn't happen but if the NFT is damaged by its internals for a long time, I think something like this will happen and maybe ICO 2017 will happen again.

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Quote from: Abiky on November 19, 2021, 10:47:13 AM

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

not too overhyped, but just getting out of hand. NFT is an attraction for the market, but its insanely expensive price makes it look weird. many think NFT is based on pure speculation and there is no art in it. only with influence, one can sell NFT at a high price and otherwise original artwork made by an unknown person will only be priced cheaply.

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Quote from: Abiky on November 19, 2021, 10:47:13 AM

I just don't see any real value to NFTs other than serving as purely speculative instruments (like "meme" coins).

Actually, you don't see any real value of NFTs as they are used only for entertainment. Nevertheless, I know that digital art and games are not its limit. Non-Fungible Tokens are going to be used for tokenizing physical assets, different documents and even ideas. I know some projects that are adopting NFTs for real use-cases, but now they are on development stage so we are just to follow recent news.

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Quote from: Abiky on November 19, 2021, 10:47:13 AM

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

Actually, I think that the whole crypto market is overheated now, that is why it must be a correction. As for NFTs, it the most trendy thing but hype can't last for a too long-period of time, so maybe NFTs will be also abandoned for a while. Nevertheless, I think that interest in them will remain and developers will found new projects that will set up new waves of hype around this sphere.

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Quote from: Russlenat on November 19, 2021, 04:14:44 PM

NFT are very popular now so probably it's overhyped. Also, we are in a bull market so anything new will easily sell, and though there are NFT's that are really good for the long term I believe just like other projects, ICO, IEO and etc, only few will survive as the rest are just joining the hype hoping they could sell and scam investors.

People mostly think of NFTs are something bind with games that is untrue. With NFT, you can mark the ownership of anything from game items to financial reports, medical records or arts.

Therefore, I meant NFTs have very wide area of use cases and this will help this trend last even after the bull market. I don't think NFT will die or disappear like PoS and Masternode or ICO. There will be more successful NFT projects than any trend in the past.

Don't forget the Metaverse trend is coming with ETH, Facebook and perhaps more Big techs will join.

Russlenat

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NFT are very popular now so probably it's overhyped. Also, we are in a bull market so anything new will easily sell, and though there are NFT's that are really good for the long term I believe just like other projects, ICO, IEO and etc, only few will survive as the rest are just joining the hype hoping they could sell and scam investors.

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Quote from: btcltcdigger on November 19, 2021, 03:39:06 PM

Quote from: Abiky on November 19, 2021, 10:47:13 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, 10:47:13 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, 03:39:06 PM

Quote from: Abiky on November 19, 2021, 10:47:13 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, 10:47:13 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, 10:47:13 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, 10:47:13 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.

South Park

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Quote from: Abiky on November 19, 2021, 10:47:13 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, 10:47:13 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.

minhtra

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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

jrrsparkles

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Quote from: Abiky on November 19, 2021, 10:47:13 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.

blockman

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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.

Topic: Are NFTs overhyped? (Read 604 times)