Can NFTs last forever? - page 5. | Bitcointalksearch.org

nara1892

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Quote from: globalpain on June 23, 2023, 12:34:06 PM

Quote from: nara1892 on June 22, 2023, 02:50:19 PM

Quote from: monineklutak on June 22, 2023, 01:04:06 PM

We don't need to worry that NFT will end, because NFT will always live in the future,
moreover NFTs are part of a technological advancement that will indeed change our lives as humans.
just like AI, Blockchain, and Metaverse, So what do we have to worry about anymore?
Indeed, yes, I can say that currently many NFT projects are stalled, but that doesn't mean that NFT projects will die.

Even so, it still depends on the NFT that we have because not all NFTs can work like that. In the end, most NFTs are the same as shitcoins, which are only used as collection materials and only NFTs that have clear potential and projects will be popular in the end.
NFT will still exist even though it's not like the previous hype, but on the other hand, of course, the longer it lasts, the bigger the challenges and new NFT projects will be, so that old projects, especially for some NFT games, don't get too much attention anymore.

NFTs have been scammed a lot now and it really disappointed me, but from that I understood how we have to buy the right NFTs.

In fact, this is a normal thing because when hype starts to spread to a project, it is clear that there will be a lot of useless NFTs here with several projects that are not clear and indeed that is something that will definitely happen and as I said before for Such an NFT will eventually be just a showcase.

Quote

So now is definitely a good time to buy some NFTs that do have good products and are still undervalued, like NFTs from MOBOX.

What makes you sure about this because in the end it will only be the same, right? I may not be too familiar with NFT, but if you look at the current conditions, then indeed my mind for NFT allows only Punk and Bored Ape, the rest, even nothing, really makes me sure about NFT.

globalpain

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Quote from: nara1892 on June 22, 2023, 02:50:19 PM

Quote from: monineklutak on June 22, 2023, 01:04:06 PM

We don't need to worry that NFT will end, because NFT will always live in the future,
moreover NFTs are part of a technological advancement that will indeed change our lives as humans.
just like AI, Blockchain, and Metaverse, So what do we have to worry about anymore?
Indeed, yes, I can say that currently many NFT projects are stalled, but that doesn't mean that NFT projects will die.

Even so, it still depends on the NFT that we have because not all NFTs can work like that. In the end, most NFTs are the same as shitcoins, which are only used as collection materials and only NFTs that have clear potential and projects will be popular in the end.
NFT will still exist even though it's not like the previous hype, but on the other hand, of course, the longer it lasts, the bigger the challenges and new NFT projects will be, so that old projects, especially for some NFT games, don't get too much attention anymore.

NFTs have been scammed a lot now and it really disappointed me, but from that I understood how we have to buy the right NFTs.
So now is definitely a good time to buy some NFTs that do have good products and are still undervalued, like NFTs from MOBOX.

Abiky

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Quote from: OgNasty on June 12, 2023, 04:02:16 PM

NFTs can last as long as their hosting does. Many people think NFTs are images on the blockchain, which is not true. They are just a link on the blockchain, so someone still has to be hosting the image. Until a better way to store NFTs on blockchains has been established as common, it will always come down to who is hosting the images.

It sucks to digitally own something you know it could easily disappear in an instant. I don't think there's an NFT out there that uses a decentralized cloud storage system. That's because most NFT creators don't give importance to ever-lasting data. They just want something that would make them quick buck, even if if the server where the data is hosted dies in the long run.

To exploit NFTs' true potential, everything must be stored on the Blockchain itself (or at least, a separate network for hosting the data). Something like Bitcoin Ordinals or Bitcoin Stamps would do the trick. The only downside is that this will increase fees and slow down transactions on the Blockchain. The trend is still new, so I'd expect NFTs to improve in the future. Who knows if they're here to stay? Just my opinion

nara1892

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Quote from: monineklutak on June 22, 2023, 01:04:06 PM

We don't need to worry that NFT will end, because NFT will always live in the future,
moreover NFTs are part of a technological advancement that will indeed change our lives as humans.
just like AI, Blockchain, and Metaverse, So what do we have to worry about anymore?
Indeed, yes, I can say that currently many NFT projects are stalled, but that doesn't mean that NFT projects will die.

Even so, it still depends on the NFT that we have because not all NFTs can work like that. In the end, most NFTs are the same as shitcoins, which are only used as collection materials and only NFTs that have clear potential and projects will be popular in the end.
NFT will still exist even though it's not like the previous hype, but on the other hand, of course, the longer it lasts, the bigger the challenges and new NFT projects will be, so that old projects, especially for some NFT games, don't get too much attention anymore.

monineklutak

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We don't need to worry that NFT will end, because NFT will always live in the future,
moreover NFTs are part of a technological advancement that will indeed change our lives as humans.
just like AI, Blockchain, and Metaverse, So what do we have to worry about anymore?
Indeed, yes, I can say that currently many NFT projects are stalled, but that doesn't mean that NFT projects will die.

JasGrady

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the value and relevance of NFTs can fluctuate over time based on market trends, demand, and changing preferences. While some NFTs have gained significant attention and value, there is no guarantee that every NFT will retain value or remain desirable indefinitely. The recent crash has me thinking their were over valued.

OgNasty

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NFTs can last as long as their hosting does. Many people think NFTs are images on the blockchain, which is not true. They are just a link on the blockchain, so someone still has to be hosting the image. Until a better way to store NFTs on blockchains has been established as common, it will always come down to who is hosting the images.

CryptoSlater

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NFTs will revive with this news https://cointelegraphfeed.com/?amz-token-creation
HARD!

sulendra12

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Quote from: Abiky on May 09, 2023, 11:30:19 AM

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.

For now, there is no actual use for owning NFT aside of proving you are the ownership of such assets just like other assets in crypto. But, the main problem of NFT is just is so easily to get manipulated with the hype and the price is just continuously decreasing rapidly every day to no value at the end of the day. Who knows what would happen with NFT in later date, maybe they will have more advanced stuff on NFT? But for now, it's just miserable.

Blitzboy

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Quote from: tygeade on June 11, 2023, 10:51:22 PM

Quote from: o48o on June 08, 2023, 11:34:25 AM

Quote from: Abiky on June 07, 2023, 12:25:53 PM

Quote from: o48o on June 05, 2023, 04:47:01 PM

Exactly. That's the real issue here. But there's nothing we can do about it, especially if we want to encourage openess on the Blockchain. Otherwise, we'd be going back to the era of censorship. Given the fact that most Blockchains have scaling issues, all of these worthless ERC-20, BRC-20, and NFTs will ultimately clog the network with high fees and slow confirmation times. The market will ultimately decide the ideal fee rates for the benefit of all. If we feel fees are too high, then we can simply move to another chain or use an off-chain (L2) scaling solution. Hype doesn't last forever, so I'm hopeful this will be all over soon.

I don't think that hype needs to end, eth just needs to scale more for handling anything people are hyped about. Meanwhile i'll stick to sending eth via L2.

L2 would be fine as long as it is used by other projects, but getting in and out really bothers me, that's still a lot of money that you are spending so it doesn't really work in the end. I had the same thing a project that used ETH but also allowed matic during, and that meant that I would get in once and pay a lot of gas fee, and get out once and pay a lot of gas fee, aside from that I didn't do anything, those were it and nothing more.

In the end, what happened? I ended up with so little profit for using it that the gas fee I spent was nearly the same as my profit of 2 weeks, I spent 2 weeks of my life just for gas fee, it wasn't worth it. So l2 is still quite a long way to go, it can be a good alternative, but it needs to grow bigger.

Despite their potential, L2 solutions aren't a silver bullet, considering migration costs and scanty profits for smaller entities. Ethereum 2.0, promising reduced fees and less traffic, is on the way. Layer 2, though imperfect, is our current bridge to a better system. The big question remains: do we weather the storm or seek an alternative haven?

tommyceo

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It can, but not in a current usage model imho

humanvelocity

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Absolutely Not! Anyone who ever says NFTs will last forever is absolutely ridiculous. I mean Yes you can have it with you forever but it’s never gonna have any value to it. NFTS were something that people thought would be a good business move to own a product in a blockchain that only belongs to you but unfortunately a single screenshot or screen recorder could take that away from you is a joke. People who made money on NFTS didn’t make profit on it because of the technology or NFTS themselves instead it was simply because of the hype it had among everyone in the crypto world.

tygeade

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Quote from: o48o on June 08, 2023, 11:34:25 AM

Quote from: Abiky on June 07, 2023, 12:25:53 PM

Quote from: o48o on June 05, 2023, 04:47:01 PM

Exactly. That's the real issue here. But there's nothing we can do about it, especially if we want to encourage openess on the Blockchain. Otherwise, we'd be going back to the era of censorship. Given the fact that most Blockchains have scaling issues, all of these worthless ERC-20, BRC-20, and NFTs will ultimately clog the network with high fees and slow confirmation times. The market will ultimately decide the ideal fee rates for the benefit of all. If we feel fees are too high, then we can simply move to another chain or use an off-chain (L2) scaling solution. Hype doesn't last forever, so I'm hopeful this will be all over soon.

I don't think that hype needs to end, eth just needs to scale more for handling anything people are hyped about. Meanwhile i'll stick to sending eth via L2.

L2 would be fine as long as it is used by other projects, but getting in and out really bothers me, that's still a lot of money that you are spending so it doesn't really work in the end. I had the same thing a project that used ETH but also allowed matic during, and that meant that I would get in once and pay a lot of gas fee, and get out once and pay a lot of gas fee, aside from that I didn't do anything, those were it and nothing more.

In the end, what happened? I ended up with so little profit for using it that the gas fee I spent was nearly the same as my profit of 2 weeks, I spent 2 weeks of my life just for gas fee, it wasn't worth it. So l2 is still quite a long way to go, it can be a good alternative, but it needs to grow bigger.

kapalmabur

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Quote from: Lamkuthang on June 09, 2023, 02:27:34 AM

Quote from: milewilda on June 05, 2023, 04:36:39 PM

Speaking about NFT then if we do look on Opensea on how it did end up then we could really say that this market turns out to be shit. Lots of those buyers on peak or having bought up with those millions of
dollars when it comes to NFT's are surely in almost 100% loss of their investment because most of the value is kissing into the floor now. Its true that we might be seeing some another adjustments
or enhancement about NFT but im not really that expecting that much. We wont know on what would be the next current trend.

Yes. it does feel tough as you pointed out The NFT market went through periods of popularity and high prices, but also experienced a decline in value. Investing in NFTs carries risks, and some buyers may experience losses. The future of the NFT market is uncertain, and it is difficult to predict the next trend.

One of the tragedies that I think is terrible is the price of an NFT that has fallen to -99% and that's not just a few but all NFTs -99%,
even worse than altcoins in my opinion. The future of NFT is still long because NFT is a great technology for future development,
so if you say NFT will live I say YES!.

gaston castano

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It's worth noting that NFTs, like any digital asset, are subject to technological advancements and changes. Future developments in blockchain technology or improvements in standards could affect how NFTs are stored, accessed, or valued.
While the concept of NFTs allows for the potential of lasting indefinitely, the practical realization of that permanence is contingent on various factors that can influence their accessibility and relevance over time.

Lamkuthang

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Quote from: milewilda on June 05, 2023, 04:36:39 PM

Speaking about NFT then if we do look on Opensea on how it did end up then we could really say that this market turns out to be shit. Lots of those buyers on peak or having bought up with those millions of
dollars when it comes to NFT's are surely in almost 100% loss of their investment because most of the value is kissing into the floor now. Its true that we might be seeing some another adjustments
or enhancement about NFT but im not really that expecting that much. We wont know on what would be the next current trend.

Yes. it does feel tough as you pointed out The NFT market went through periods of popularity and high prices, but also experienced a decline in value. Investing in NFTs carries risks, and some buyers may experience losses. The future of the NFT market is uncertain, and it is difficult to predict the next trend.

o48o

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Quote from: Abiky on June 07, 2023, 12:25:53 PM

Quote from: o48o on June 05, 2023, 04:47:01 PM

Exactly. That's the real issue here. But there's nothing we can do about it, especially if we want to encourage openess on the Blockchain. Otherwise, we'd be going back to the era of censorship. Given the fact that most Blockchains have scaling issues, all of these worthless ERC-20, BRC-20, and NFTs will ultimately clog the network with high fees and slow confirmation times. The market will ultimately decide the ideal fee rates for the benefit of all. If we feel fees are too high, then we can simply move to another chain or use an off-chain (L2) scaling solution. Hype doesn't last forever, so I'm hopeful this will be all over soon.

I don't think that hype needs to end, eth just needs to scale more for handling anything people are hyped about. Meanwhile i'll stick to sending eth via L2.

Quote from: Abiky on June 07, 2023, 12:25:53 PM

Quote from: o48o on June 05, 2023, 04:47:01 PM

That's completely mind-blowing. I couldn't imagine TBAs taking the NFTs spotlight real soon. It will be up to creators to make something serious that would last a lifetime. Not something out of pure speculation. The vast majority of NFTs are only quick cash grabs, so they will ultimately die in the long run.

I hope that won't be the case with SBTs and TBAs. I'm still trying to understand all of the technical jargon linked to these new kinds of tokens. With all that's been happening behind the scenes, it seems to me that ETH will remain as the #1 platform for NFTs and other kinds of tokens forever. Wink

I really wish i understood more about it. For now i am shilling it because some cool devs i know are constantly telling me how cool it is. There might be hype because of it but i see it similar to erc721, it's not over by a long shot even though it got way more hype so quickly it wasn't going to be sustainable. People were buying anything NFT related and only few seemed to know what they were doing.

I guess i need to take a day to study it as much as i can and hope i understand more of it.

blackened515

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Quote from: AmoreJaz on June 06, 2023, 04:33:34 PM

right now, i believe a lot have been regretting their NFTs because of such losses. very few NFT projects are worth holding long-term. most of them will die down fast and won't be discussed anymore in this market. opensea though got a lot of profits but those who bought for sure are in a bad position right now.
well, that's the dilemma of buying the hype, you can never be sure of their longevity in the market.

No project is guaranteed to remain in the space indefinitely; old ones fold up, allowing young ones more chances to grow into solid projects. We have what we call the NFT season in cryptocurrency, but it is not yet that period, which is why there have been failed NFTs initiatives in the market. Long-term projects are obviously required in order to profit from NFTs. Trust me when I tell that these great ventures are scarce in the market; any moderator would desire the best for his or her team while also generating gratification for selfish goals, dumping investors' portfolios.

disconnectme

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Yes, it can last forever. The thing is just that NFT need to be more advance than the current level it is currently in. If we compare the growth of NFT with that of Blockchain, I can see it being transformative and have real impact than the DEFI. DEFI seems saturated but there is still a lot to be done, AR, VR space has not been fully explored when it comes to NFT and Music NFT is just starting, it won't be the JPeg we have now. we just need all these developers to stop acting greedy and start developing and giving solutions this is what crypto is all about.

Abiky

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Quote from: o48o on June 05, 2023, 04:47:01 PM

But same applies to erc20 and bep20 etc tokens as well. It's because the permissionless nature of blockchain, even trolls can fill it with their junk.

Exactly. That's the real issue here. But there's nothing we can do about it, especially if we want to encourage openess on the Blockchain. Otherwise, we'd be going back to the era of censorship. Given the fact that most Blockchains have scaling issues, all of these worthless ERC-20, BRC-20, and NFTs will ultimately clog the network with high fees and slow confirmation times. The market will ultimately decide the ideal fee rates for the benefit of all. If we feel fees are too high, then we can simply move to another chain or use an off-chain (L2) scaling solution. Hype doesn't last forever, so I'm hopeful this will be all over soon.

Quote from: o48o on June 05, 2023, 04:47:01 PM

It's inspired by SBT but it's a new concept. Like SBTs but trasferrable and more.

Currently erc-721 NFTs are bound to wallets, just like cryptos are in general. You can think ERC-6551 other way around, wallets bound to NFTs. "Those are called Token Bound Accounts" (TBAs).
From what i understand, for example when you normally link wallets to sites, this could make it it possible to link your nfts. As those become smart contracts themselves.

This post explains it way better than i could:

https://blog.alphapanda.one/token-bound-accounts-erc-6551-the-future-of-nft-wallets/

I am still wrapping my mind around it. It took a while for me to even get erc721 when they came, so i guess i need to see this in action before i truly get the possibilities.

That's completely mind-blowing. I couldn't imagine TBAs taking the NFTs spotlight real soon. It will be up to creators to make something serious that would last a lifetime. Not something out of pure speculation. The vast majority of NFTs are only quick cash grabs, so they will ultimately die in the long run.

I hope that won't be the case with SBTs and TBAs. I'm still trying to understand all of the technical jargon linked to these new kinds of tokens. With all that's been happening behind the scenes, it seems to me that ETH will remain as the #1 platform for NFTs and other kinds of tokens forever. Wink

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