Topic: Can NFTs last forever? (Read 1621 times)

I have also never bought an NFT because it is very illogical if it is made as an investment asset, even though many people think that NFTs are a work of art whose creation is limited, but if you think about it, there are a lot of NFT developers, for example there are 10,000 developers, I think it is a useless thing.

The second is the utility problem, maybe in some NFT games it is quite useful for those of you who like to play games, but if it is only made into a collection and investment place, I think the value will depreciate continuously, judging from the market, most investors today return to coins as investment assets rather than buying NFTs, it's just a temporary hype in my opinion.

Likewise, from the beginning of the presence of NFTs, I was not at all interested in the popularity of NFTs among the public, especially big investors and several top artists who were not spared by the presence of NFTs, many people were throwing their money into NFT investments which in my opinion This is a seasonal thing that can just disappear at any time without people realizing that they are being used by some big people to buy NFTs which in fact have no impact whatsoever on your needs in the future, I would rather invest in meme coins rather than buying NFTs that Not necessarily, it will benefit you in the future, but unlike buying any coin on the market, it will definitely be much more valuable than holding an NFT.

Sticking to one projects, not advisable but doing the needful by ensuring we invest in prominent projects and gaining good records is beneficial. Cryptocurrency, we know how volatile these crypto projects are and we just have to do what's necessary if we want to continue our existence in the market. Non-Fungible Tokens are likely to crash during the bear season because the bear season do affects them in all rounds, it takes only a solid NFT to survived the bear season and still counts on skyrocketing to the moon without facing a slight difficulty in pumps.

I think you're spot on here. Much as cryptocurrency is to money, NFTs are a digital version of a physical thing -- in this case, mostly collectibles. But they can be used for so much more: as tickets to events, access to special Discord servers or websites, game items (characters, skins, resources, etc.), and can be redeemable for physical goods.


I'm also of this philosophy as the world is definitely headed in a digital direction. Much of our lives are transforming from physical to digital... its just part of the course of technological evolution. In this thread I outline the rationale behind the "Historical NFT" movement, where people are now into collecting old tokens and various blockchain knick-knacks on different chains, much as collectors like old, rare, scarce sports cards:

The Historical NFT Speculation & Appreciation Thread

Some of these early NFTs, like CryptoPunks & Rare Pepes, regularly go for hundreds of thousands of dollars. But there's still a lot of interesting old stuff out there that is cheap and have yet to really be unearthed by the next generation of collectors, which is inevitably on its way.

Hi guys, I have been reading the opinions here and many of these are interesting. Nfts are not only useful for gaming, these are mainly for collectors and in the future it will have other uses. Some people said earlier that it is too late to deal with nfts because they are outdated and out of fashion. Well, as long as there are collectors there will be nfts! When the collectors disappear, so will the nfts

I agree with those who have a positive approach and are optimistic about the future. Quite rightly someone have said that nowadays everything has become digital and this is true, especially in the field of art. Some others wrote in another thread that nfts are a scam and a ponzi scheme, these are completely ridiculous opinions. Someone wrote above that we should see them for the purpose of profit, I think this is wrong, the real collector is interested in the beauty that art offers him, he puts his taste above profit. It's not everything about earning!
Personally, my experience is not great, I have been dealing with nfts for 2 years, while in the last year I have been making my own as a creator, choosing the enjin and matic because of low fees. In addition, the enjin has the advantage of free beams. By the way, I quote my accounts:
https://nft.io/collection/fantasy/assets
https://opensea.io/collection/djlef-fantasy
I have collected over 2,000 assets so far (bought or droped) and haven't sold a single one yet! I don't know if I will ever need to sell, however for now I enjoy my collection and the joy of exchanging my dublicates to enrich. This is the philosophy of a true collector. The collector will pay dearly for a nft that he likes and absolutely wants! He will make many trips to find, e.g. a painting or a piece of art to acquire. Not everyone can understand this.

So in conclusion, just as blockchain technology is not only for cryptocurrencies, so also the technology of nfts can find application in other uses (music, tickets, receipts, personal documents, etc.). The only problem is that nfts are still unknown to most of the world, but when cryptocurrencies spread and prevail on the planet, then nfts will also experience glory days. Today about 1% of the world's population is involved in cryptocurrencies. Can we imagine what will happen when 50% is engaged? It is certain that when the youth get to know them, they will love them. In any case, it is still a new space and we cannot imagine what will happen when it matures and evolves this magic world...

There are reasonable grounds for not believing that NFTs or industry opportunities may fail. Well, if we talk about possibilities, yes. when will it bounce back, if market sentiment, current news and investor confidence recover, then the world of NFTs will become vibrant again and become the norm.

Another reason is that hype and trend cycles in new technologies are often followed by a period of adjustment as consumers and investors begin to understand the technology. .

I agree with your opinion, because NFT have no function, so there is no profit in buying NFT, therefore I will never buy NFT and I'm not interested in NFT, because I already know that NFT will not last long and of course only it will make my money disappear, so I will never invest in NFT ever, even though in the future NFT might be hype again, but I still won't be interested to investing in NFT.

I'm completely confused about this NFT market. Previously it was very bright and was most often discussed in forums regarding its future potential and now it seems to be slowly fading. but if you read this the NFT market is not a decline, but rather the initial stage of the second major cycle, which is lagging behind the crypto market as a whole. source https://coinmarketcap.com/academy/id/article/2023-nft-market-analysis:-an-insider-look will it come true. Still confused.

We shouldn't be looking at if NFT would last forever just like we all know that nothing last forever. We should invest in NFT for the profits not for fun. When we noticed that there are some certain NFT we are sure of crashin anytime, it is good for us to remove our money and put it in other projects so that we can make money also from the ones that are trending currently. The cryptocurrency market has different aspects we can invest our funds and should not just stick on just one aspects.

I completely agree with your perspective that NFT markets are not so lucrative as it was perceived. I personally purchased many NFTs  and received some as reward. But unfortunately there were no buyers and the investment ended up in loss. The fundametal purpose of creating NFTs, centered around digital art and in developing countries where people work all the day to provide basic needs to their families, hence buying digital art is not their priority.

The promoters of NFT sector have been making efforts to link some kind of use case with NFTs but so fat there is not any notable success and trading vomues of major NFT platform such as opensea.io are showing gradual decline, indicating challenging situation for this sector.

It's just as if your asking if Artist and Thier Artworks will last forever. As long as there are Artist or possible AI technology NFTs will remain. However, I can't predict what would be the faith of NFTs in the next decades or more, but I think NFTs might become more widely accepted and hopefully less about speculation. Personally, I've used NFTs to sell my art. When I gained admission in college and needed some money to support myself. This situation pushed me to concentrate more on digital art, at least for some time. I've seen others use NFTs for music, real estate, in-game stuff, and even physical items, serving as proof of authenticity. Although the hyoe and everything is calm but people still spend more buying NFTs.

I can tell the hype is dying by looking at the market. NFT sales have declined considerably over the course of the year. We don't see JPEGs (images copied from the Internet), gaining traction anymore. A good thing, because those kinds of NFTs were complete garbage. Now there's a lot of buzz surrounding Bitcoin Ordinals. These NFTs are congesting the BTC blockchain as we speak (resulting in higher fees than usual). Even Polygon is seeing a surge in gas fees because of the Ordinals hype. Without real utility, I think this will eventually fade away into oblivion.

If NFTs are here to stay, developers are going to need to make some improvements. An NFT whose content is stored on a centralized server can easily disappear in an instant. Creators need to use a decentralized data store (IPFS, Arweave, etc) to truly make NFTs persistent. This is only an issue for ETH and similar blockchains. With Bitcoin, Ordinals stores the data on-chain (someone correct me if I'm wrong). But this comes at a cost of increased network bloat/congestion. The NFT industry is just starting to blossom, so I'd give it more time to mature to see what happens. Who knows what the future will bring?

Well now the National Hockey League has launched the 'NHL Breakaway'. It will let fans trade their favorite digital collectibles.

And even Dappgambl has said 95% of NFTs are worth nothing. https://www.nhl.com/news/digital-collectibles-platform-nhl-breakaway-launches   

NFT is not a Ponzi scheme dude. There are different NFT projects just like we have coin projects too that many do end up in scam.
NFT can be very profitable if we invest in good NFT projects with a very good community and tesm supporting it with good liquidity.
Marketing and hypes is one of the ways many NFT and coin projects use to promote their community so that they will have large community supporting. Any decisions we are making investing in the crypto market is always risky so we must be ready to invest what we know we can afford to lose.

I think whether it survives or not depends on the people who buy it, basically all concepts of goods are valuable if we consider them valuable, so if NFTs are still considered valuable then they will survive no matter what fluctuations occur.

I agree with you, because in my opinion NFT is just a ponzi scheme and has no function, so of course NFT is not very good as an investment, therefore I agree with you that NFT is a scam and not suitable for investment, so I myself have never been interested to investing in NFT and I prefer to invest in meme coin rather than investing in NFT.

NFTs ain't going nowhere, but all this hype around them probably gonna die down eventually.  They got folks all excited now, but that new car smell gonna wear off after a while once people figure out what's really good and  it's like anything new that pops off - mad hype at first that kinda balances out later.  But hey, even with less noise looks like plenty folks see some value in NFTs and are learning how to work that space.  As long as they find their lane, NFTs can stick around. 

Overall I'd say NFTs here to stay in some form, but won't always be blowing up the internet like now.  Things change.  But for real some of them NFTs is straight up jokes.  People paying for that? Come on now.  Anyway, point is itll mellow out but still got utility if you know how to use it right.  Crypto gang gonna keep doing they thing either way.

Agreed, NFT may not last, but digital arts will last. Artists these days explores and I am really want to explore digital arts and really want to learn more about it. Maybe, this is the time I will start at least little by little.

Also, as long as there are people who support NFT it will last. I hope future generation will consider to adopt cryptocurrencies. The hype of NFT is not like before it started. Still lot of people are still into NFT and they know how to work with it.

I think as long as the blockchain works, then NFTs will always exist.  Also, the hype is not as bright as before, but there are still cool NFT collections that cost a lot of money and many people like it, but art should not interfere with speculation and fraud in this area.

Well I did think all these people wanting NFTs was over. But now Disney company has partnered with Dapper Labs to to launch Disney Pinnacle.

It will be a digital pin collecting and trading platform. So when we think they will not last forever here comes Disney to try it again.

https://www.theverge.com/2023/11/14/23960535/disney-pinnacle-nft-dapper-labs-pin-collecting