Can NFTs last forever? - page 3. | Bitcointalksearch.org

masulum

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hmph..

Quote from: batang_bitcoin on November 07, 2023, 08:28:18 AM

Usually, they should just for those type of use like arts and those stuff. But the makers of it have made it as if they're for all applications and I think it has got too much from there. Yeah, they can last forever but what will be the value? memorabilia?

There are several points that make NFT have value.
1. Art value (this usually applies to NFTs backed by physical art, photography).
2. Utility value (this is usually found in special NFTs such as NFT Pass (hold the NFT to join the service)).
3. Artist, this is still related to point 1, who made the NFT, and its value will increase because the NFT was created by someone who is an expert in making digital and physical art.
4. Earning, I don't think this needs to be explained. You definitely understand this point.

Even though NFT memes seem to have no value, most of these memes are used as NFT Passes or earn a tokens. However, not all NFTs have value like this, a lot of NFTs are generally the same as meme tokens or sh*t token/coins, which have no utility and are then simply abandoned, so the holder doesn't get anything.

NFA/DYOR/DWYOR

batang_bitcoin

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Quote from: btc78 on November 07, 2023, 06:50:27 AM

it looks like nfts has tumbled a bit but according to data from this article (https://fintechmagazine.com/articles/in-depth-do-nfts-have-a-future#) nfts might stay here for quite awhile

They didn't stumbled a bit but they actually have fallen and there seems to be no coming back for the majority of them. Even the Bored Ape NFTs have fell greatly.

Quote from: btc78 on November 07, 2023, 06:50:27 AM

nfts have a lot of purposes and a lot of different kinds of people have access to nfts there are traders and the artists so it might look like nfts are not of great value right now but i believe it will stick in the long run

Usually, they should just for those type of use like arts and those stuff. But the makers of it have made it as if they're for all applications and I think it has got too much from there. Yeah, they can last forever but what will be the value? memorabilia?

devil-soul

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Unfortunately, it is true that most information about NFTs is on centralized servers, not on the blockchain, so one day we could lose all the information, however, NFTs remain a good investment even if they are high risk.

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Quote from: DaNNy001 on November 05, 2023, 11:27:44 AM

Quote from: fzkto on September 22, 2023, 10:24:53 AM

Quote from: ?? on ??

NFTs is simply know as Non Fungible Token's which deal with digital arts works like images that one can buy or sell NFTs digital assets online image's and demand is always high in the cryptocurrency industries and NFTs has come to stay as long cryptocurrency still keep exist in the ecosystem.

Another question is whether nfts will be in demand in the future. We all know that blockchain and the information in it will remain forever, but who will use this information? The nft hype has passed and now almost all of these tokens have been devalued. So people lost money and now there is almost no trust in such projects.

I wouldn't say all that devalued because people are still making the most out of their NFT, I know the adoption and it's craving has reduced but that doesn't mean that nft worth as lost it's value because I still believe some folks are still having some nft in their possession and many more are still making purchase of it to a certain level that's one can say nft are still very much active in the market but just isn't as few years back.

it looks like nfts has tumbled a bit but according to data from this article (https://fintechmagazine.com/articles/in-depth-do-nfts-have-a-future#) nfts might stay here for quite awhile
nfts have a lot of purposes and a lot of different kinds of people have access to nfts there are traders and the artists so it might look like nfts are not of great value right now but i believe it will stick in the long run

DaNNy001

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Quote from: fzkto on September 22, 2023, 10:24:53 AM

Quote from: ?? on ??

NFTs is simply know as Non Fungible Token's which deal with digital arts works like images that one can buy or sell NFTs digital assets online image's and demand is always high in the cryptocurrency industries and NFTs has come to stay as long cryptocurrency still keep exist in the ecosystem.

Another question is whether nfts will be in demand in the future. We all know that blockchain and the information in it will remain forever, but who will use this information? The nft hype has passed and now almost all of these tokens have been devalued. So people lost money and now there is almost no trust in such projects.

I wouldn't say all that devalued because people are still making the most out of their NFT, I know the adoption and it's craving has reduced but that doesn't mean that nft worth as lost it's value because I still believe some folks are still having some nft in their possession and many more are still making purchase of it to a certain level that's one can say nft are still very much active in the market but just isn't as few years back.

Biznesmen

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NFT's are a good earning platform, but recently Instagram backed off on their NFT's, and the markets also crashed, and there's been a lot of low trust in them because there were many scams. So it's probably another dead trend—probably not forever, but at least for now. From what I know, you will have to find a coin with a $5 million near-market cap or find a good NFT to start doubling your money. or, if you have time, without investing or spending it, you can use that money to airdrop farming. My experience with crypto trading is pathetic. However, I make money from NFT trading, airdrop farming, and working in DAOs (Crypto native companies). The strategy that works for me is value investing in capital and time.

Abiky

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Quote from: Cryptoababe on September 21, 2023, 08:05:05 PM

In my own opinion, NFT is gonna last forever. Although, people are yet to believe in it. But as time goes on, more people will go into NFT minting as people will want to be more decentralised. This will always make NFT more popular.

The trend will last forever. But most NFTs you see right now, could disappear in the future as they don't bring any real value to our society. We could say the NFT market is still speculative, despite the fact that serious companies are getting into the game. I'm hopeful things will improve in the future as serious projects replace worthless ones. Developers need to make use of decentralized technologies to help preserve their own creation.

With content stored on decentralized CDNs such as IPFS or Arweave, NFTs could last forever. Relying on centralized servers and TLDs, greatly defeats crypto/Blockchain tech's original purpose. Who knows if developers will be forced to switch to decentralized alternatives after such a hostile regulatory environment? Just my opinion

fzkto

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Quote from: ?? on ??

NFTs is simply know as Non Fungible Token's which deal with digital arts works like images that one can buy or sell NFTs digital assets online image's and demand is always high in the cryptocurrency industries and NFTs has come to stay as long cryptocurrency still keep exist in the ecosystem.

Another question is whether nfts will be in demand in the future. We all know that blockchain and the information in it will remain forever, but who will use this information? The nft hype has passed and now almost all of these tokens have been devalued. So people lost money and now there is almost no trust in such projects.

@sriyan

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Quote from: rwishmila on September 22, 2023, 09:38:23 AM

Quote from: Abiky on May 09, 2023, 12:30:19 PM

All of the NFTs you know and love today, have their data stored their on centralized servers (images, video, etc). What is only stored on the Blockchain is just the properties of the NFT itself. While you're basically the "owner" of the NFT, you could lose technically lose it if the centralized server hosting the content of the NFT goes down.

So, what's the point of investing in NFTs if they can disappear in an instant? Unless all of the content is stored on the Blockchain itself, I don't see how NFTs will be able to last forever. Are there already solutions in the works that I'm not aware of? Please enlighten me on this. Your input will be greatly appreciated. Thank you.

I always had questions about the usability and business value of NFTs. They all seem appealing at the beginning, yet the usage is either super limited or questionable. Imagine that you purchase an NFT that is super specific to a particular state of a game, how would you guarantee that the value would retain? It's a bit difficult to find reasons for me to invest in NFTs.

One of the problem is the liquidity and the prices. You can handle that problem using fractionalization. You can buy the part of the NFT to handle the prices. Also when you sell it, you will receive the part of profit.

rwishmila

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Quote from: Abiky on May 09, 2023, 12:30:19 PM

All of the NFTs you know and love today, have their data stored their on centralized servers (images, video, etc). What is only stored on the Blockchain is just the properties of the NFT itself. While you're basically the "owner" of the NFT, you could lose technically lose it if the centralized server hosting the content of the NFT goes down.

So, what's the point of investing in NFTs if they can disappear in an instant? Unless all of the content is stored on the Blockchain itself, I don't see how NFTs will be able to last forever. Are there already solutions in the works that I'm not aware of? Please enlighten me on this. Your input will be greatly appreciated. Thank you.

I always had questions about the usability and business value of NFTs. They all seem appealing at the beginning, yet the usage is either super limited or questionable. Imagine that you purchase an NFT that is super specific to a particular state of a game, how would you guarantee that the value would retain? It's a bit difficult to find reasons for me to invest in NFTs.

Cryptoababe

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In my own opinion, NFT is gonna last forever. Although, people are yet to believe in it. But as time goes on, more people will go into NFT minting as people will want to be more decentralised. This will always make NFT more popular.

Cling18

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Quote from: Abiky on September 17, 2023, 01:25:28 PM

Quote from: shinratensei_ on September 12, 2023, 06:05:08 PM

simple statement but its its true, NFT so far hasn't really been a good investment most of it are just getting driven by current hypes and thats it, once it losing its popularity so does the value also lost.
i've seen so many NFT that was valued so high, even millions, now doesn't even have any value, no one is trying to bid for it, so basically its valueless since there is no liquidity despite the fact that the owner giving it high value, if there's no liquidity whats the use then, basically it has lost all of its value now turning into worthless NFT.
the NFT that could hold on for long I assume is those utilised heavily in gaming platform, but even then, the gaming platform itself hardly retaining any community left, let alone their NFT. its overall just really bad investment.

The tech is promising. But without real use cases, why would you want to invest into an NFT in the first place? For what I know, NFTs are nothing more than purely-speculative investments. They're only driven by hype. If developers started thinking "outside of the box", things would've been different by now. All they care about is making money in the least time possible.

At least, not all hope is lost. With big companies joining the game (eg: Coca Cola, Pringles, etc), it should only be a matter of time before NFTs become useful. Who knows if the trend will survive alongside RWAs (Real World Assets) for the forseeable future? Just my opinion

There are NFTs that are profitable and worth buying these says especially those who are getting huge support from huge companies but there are also lots of scam NFTs nowadays. Scammers are now using NFTs to fool investors and they usually make it attractive and look profitable to gain their trust which I think is getting really common nowadays.
That's why skepticism is really necessary so we won't fall for scammers' trap. There are really potential NFTs these days but we can't say that they could last forever. Maybe they are reliable investment yet there's still no assurance about the duration that they could last.

Abiky

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Quote from: shinratensei_ on September 12, 2023, 06:05:08 PM

simple statement but its its true, NFT so far hasn't really been a good investment most of it are just getting driven by current hypes and thats it, once it losing its popularity so does the value also lost.
i've seen so many NFT that was valued so high, even millions, now doesn't even have any value, no one is trying to bid for it, so basically its valueless since there is no liquidity despite the fact that the owner giving it high value, if there's no liquidity whats the use then, basically it has lost all of its value now turning into worthless NFT.
the NFT that could hold on for long I assume is those utilised heavily in gaming platform, but even then, the gaming platform itself hardly retaining any community left, let alone their NFT. its overall just really bad investment.

The tech is promising. But without real use cases, why would you want to invest into an NFT in the first place? For what I know, NFTs are nothing more than purely-speculative investments. They're only driven by hype. If developers started thinking "outside of the box", things would've been different by now. All they care about is making money in the least time possible.

At least, not all hope is lost. With big companies joining the game (eg: Coca Cola, Pringles, etc), it should only be a matter of time before NFTs become useful. Who knows if the trend will survive alongside RWAs (Real World Assets) for the forseeable future? Just my opinion

shinratensei_

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Quote from: Kraus4 on September 12, 2023, 03:30:10 PM

NFTs are really not a good investment, there is no future value they wont last forever.

simple statement but its its true, NFT so far hasn't really been a good investment most of it are just getting driven by current hypes and thats it, once it losing its popularity so does the value also lost.
i've seen so many NFT that was valued so high, even millions, now doesn't even have any value, no one is trying to bid for it, so basically its valueless since there is no liquidity despite the fact that the owner giving it high value, if there's no liquidity whats the use then, basically it has lost all of its value now turning into worthless NFT.
the NFT that could hold on for long I assume is those utilised heavily in gaming platform, but even then, the gaming platform itself hardly retaining any community left, let alone their NFT. its overall just really bad investment.

Kraus4

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NFTs are really not a good investment, there is no future value they wont last forever.

Abiky

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Quote from: Justin999 on August 09, 2023, 04:17:08 PM

Quite Interest thread. I have less knowledge about NFTs but i think this technology will be last forever. There are many more exciting things that can be done by the help of NFTs. Rather staking programme, using it in game to earn money and many more options are available. Although NFTs are full of shit and scammers now but real NFTs will be always in demand and will increase in time. So some real Product NFTs should buy if its availvale cheap

The trend itself might last forever. As long as Blockchains exist, don't expect NFTs to go anywhere soon. What I'm deeply concerned about is the data of the NFT itself. Most of the data is stored on centralized servers, making the whole purpose of "owning" an NFT futile. You don't own something if you lose the contents of it.

If NFT creators made use of decentralized CDNs, things would've been much better. I guess they will do this when it's too late. For now, the NFT industry will remain speculative. Wait a few more years, and you'll see useful NFTs replacing overhyped ones. Who knows which NFTs will be able to truly stand the test of time? Just my thoughts Grin

Blitzboy

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Quote from: Abiky on July 25, 2023, 10:55:59 PM

Quote from: cjmoles on July 21, 2023, 01:15:56 PM

Yeah...in the beginning the development was sketchy. They certainly took advantage of NFT hype and got out ahead of their skies. They have several years worth of development under their belt now and have a whole new team, including Chris Clay, former Game Director for MTG: Arena. The difference between a game like Hearthstone and a game like Gods Unchained is the NFT, true ownership of game assets secured by a blockchain. In Hearthstone, the platform controls the cards....In Gods Unchained, the user owns the cards, and they can trade them on the decentralized markets, permissionlessly.

I'm not trying to endorse Gods Unchained, it's just an example of a usecase for NFTs other than goofy ape jpegs and pfps. It's also a good example of how the various layers of abstraction add utility to the NFTs, while maintaining the same level of security, without bloating the main blockchain. Anyway, I'm just saying....I don't think NFTs are going away --> they're just becoming more utilitarian. It's exciting stuff.

Yes. NFTs are becoming more useful than speculative lately. I guess the industry is maturing faster than I've thought. The hype still isn't over yet, so we should expect some speculation in the time-being. With improvements being made in the ETH ecosystem, I don't think NFTs will disappear anytime soon. What needs to be dealt with is the long-term data preservation of an NFT. Centralized servers are not ideal for this kind of new trend. It's the anti-thesis of crypto/Blockchain tech's decentralization and censorship-resistance.

I hope developers make good use of decentralized CDNs like Arweave and IPFS for the good of the industry. Luckily, data from Bitcoin's Ordinals inscriptions are all stored on-chain. ETH, and other similar smart contract platforms need to do this without sacrificing scalability. The sky is the limit to how far NFTs will go. Who knows if buying prominent NFTs now will make you rich in the future? Just my thoughts Grin

About the long-term data preservation of an NFT, which has to be ensured for the security of future potentialities in the growing landscape of crypto possibilities. Decentralized CDNs like Arweave and IPFS will, of course, play a vital role. Bitcoin's Ordinals inscriptions, being stored on-chain, are like a lighthouse guiding a ship that doesn't really exist but signifies a path.

ETH, and the like, need to do this without sacrificing... something, probably scalability. NFTs wont disappear. They will continue to be there, somewhere. Buying prominent NFTs now might indeed make one rich in the future, but one must also consider buying non-prominent ones as they might turn prominent later.

tsaroz

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Quote from: Abiky on May 09, 2023, 12:30:19 PM

All of the NFTs you know and love today, have their data stored their on centralized servers (images, video, etc). What is only stored on the Blockchain is just the properties of the NFT itself. While you're basically the "owner" of the NFT, you could lose technically lose it if the centralized server hosting the content of the NFT goes down.

So, what's the point of investing in NFTs if they can disappear in an instant? Unless all of the content is stored on the Blockchain itself, I don't see how NFTs will be able to last forever. Are there already solutions in the works that I'm not aware of? Please enlighten me on this. Your input will be greatly appreciated. Thank you.

NFT as of known currently as some random picture that may or maynot have any value assigned to them and their price determined by the demand and supply won't last long. I don't even see much of its use as game assets or game freely traded game accessories. But they might exist on more business centric operation like proof of origin or supply chain involved. Non-fungible tokens could have a variety of uses as planned and demonstrated by many projects. Or something better we still are not aware of.

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Quote from: SharonC on August 10, 2023, 01:22:06 AM

Quote from: bittick on May 09, 2023, 07:28:08 PM

one could always backup their NFT locally, i don't see any reason why they don't if the NFT worth some money but I generally always consider NFT not as investing, it doesn't even have that much liquidity for investing.

Totally agree! I Always saw NFT as a way to artists prove the ownership, nothing more. Cannot understand the hype around

Backing up NFTs locally is a sensible step to safeguard valuable digital assets, especially if the NFT holds significant financial value. By keeping backup copies in a secure location, you can mitigate the risk of losing access to the NFT due to technical issues or problematic platforms.

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Quote from: bittick on May 09, 2023, 07:28:08 PM

one could always backup their NFT locally, i don't see any reason why they don't if the NFT worth some money but I generally always consider NFT not as investing, it doesn't even have that much liquidity for investing.

Totally agree! I Always saw NFT as a way to artists prove the ownership, nothing more. Cannot understand the hype around

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