Can NFTs last forever? - page 7. | Bitcointalksearch.org

o48o

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Quote from: Abiky on May 26, 2023, 08:55:02 AM

Quote from: o48o on May 24, 2023, 05:50:13 PM

You can never own an NFT, especially when its data is stored on a centralized server. Maybe that's not the case with Ordinals inscriptions (BRC-20)? I don't get why there's a lot of hype surrounding NFTs, when they could easily fade into oblivion. They're not something you can touch or truly own like a physical collectible.

I know Blockchain is the future, but it's not meant to be used for everything. There are millions of NFTs that could bloat popular Blockchain networks if they become a big hit. BTC experienced high fees because of this, as well as, ETH itself. Moving data into a decentralized cloud storage solution may not be enough to improve NFTs as a whole. This is just starting to blossom, so I'd give more time to see what happens. Just my thoughts Grin

Like i already said, you don't own the picture but you own the link.

Concept of owning nfts is debatable becayse it all comes to definition of digital "owning". You don't own the files in a classical sense, and that wouldn't even make sense. You however own the rights to trade it for example. And if we are talking about current usecases, there are now over 10 million reddit nft avatar holders.

There are non-nft avatars in reddit too that you can use to build your avatar. But if you are using NFTs to build your avatar, you can get some rare ones that are very much wanted.

If you are wearing nft avatar you can choose what parts you are wearing from it, and you can combine different nfts. NFT avatars shows up differently and you can't fake wearing them. Those are freely traded in opensea and i think it's one of the first actually cool adopted usecases for nfts. You "own" those NFTs as long reddit is alive and i am thinking it will definitely last for several generations.

And NFTs are just starting, now there is ERC-6551 coming and that's unlocking ton of new possibilities. But i'll wait for it to be tested before i'll get too ecxited

timoshani

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Quote from: riskarcher on June 01, 2023, 03:04:22 PM

Honestly NFT project is not reccomended for collection due to what we got is picture/soft file which is we don't have any Definite legality because everything is regulated by Develop and only access by system blockhain. Its make me wondering entities of artist quality are reserved only for NFT and not for physical works that can be exhibited/expose so it will be worth it

It is the absence of a real, and not invented, physical implementation of the NFT that is the weak point of the idea itself. Most of the NFT is junk. At the same time, in recent years, top collections on markets have sagged in price and supply by 1.5-3 times. This is already a real hint that the NFT will not exist forever.

riskarcher

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Honestly NFT project is not reccomended for collection due to what we got is picture/soft file which is we don't have any Definite legality because everything is regulated by Develop and only access by system blockhain. Its make me wondering entities of artist quality are reserved only for NFT and not for physical works that can be exhibited/expose so it will be worth it

Abiky

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Quote from: Xal0lex on May 27, 2023, 02:41:05 PM

Probably because many people associate NFTs with images. I've rarely seen NFTs containing chunks of text or audio files. Probably because many people prefer to see what they buy rather than read or listen to it. I remember there was even a little hype around NFT with famous tweets, but that hype quickly subsided and didn't get the proper exposure. Even the NFT, containing the very first tweet in history, has fallen in price many times over, as few people are interested.

Making NFTs out of tweets is ridiculous. After all, those same tweets are stored on centralized servers managed by Twitter. If the company goes down, so will the data stored on those servers. The Blockchain will only prove you had ownership of the NFT, but without the data/content, what's the use?

NFT creators aren't even thinking of storing the content on decentralized cloud storage networks such as Arweave or IPFS. They're only thinking about making money in the fastest way possible. If this keeps up, don't expect NFTs to be taken seriously anytime soon. Who knows what the future holds for the industry? Just my opinion

Guidru

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NFT has no practical application value, and I have never invested in it. NFT should gradually fade out as time goes by.

deepblue01

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Quote from: Yamifoud on May 27, 2023, 05:37:47 PM

Quote from: axxo on May 27, 2023, 09:24:02 AM

NFT's can affect its lifespan. If the NFT is stored on a centralized platform that goes out of business or experiences data loss, the NFT could be lost forever. If the NFT is stored on a decentralised platform or on the blockchain itself, it has a better chance of lasting indefinitely. The popularity and demand for an NFT can also affect its lifespan. If an NFT is highly sought after a valuable it is more likely to be preserved and maintained by collectors and enthusiasts. It is impossible to guarantee that an NFT will last forever, storing it on a decentralized platform it can increase its chances of longevity.

But have any NFT projects had such a thing, well, I'd never find any. They have no use case actually and never I say they are helping the crypto space and giving motivation to the community instead, they are making these investors who bought them during their great time lose their money. In fact, instead of making a profit as a reason why they bought them, they are getting hopeless and nobody buys this project these days, they are holding it right now and a few years from now, no one is able to remember this anymore.

yes there is. please check Decentraland, sandbox, apecoin and many more. many NFT price is still going down but still running.
if you have some money to invest in NFT you should take it, it more save than another NFT project

Yamifoud

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Quote from: axxo on May 27, 2023, 09:24:02 AM

NFT's can affect its lifespan. If the NFT is stored on a centralized platform that goes out of business or experiences data loss, the NFT could be lost forever. If the NFT is stored on a decentralised platform or on the blockchain itself, it has a better chance of lasting indefinitely. The popularity and demand for an NFT can also affect its lifespan. If an NFT is highly sought after a valuable it is more likely to be preserved and maintained by collectors and enthusiasts. It is impossible to guarantee that an NFT will last forever, storing it on a decentralized platform it can increase its chances of longevity.

But have any NFT projects had such a thing, well, I'd never find any. They have no use case actually and never I say they are helping the crypto space and giving motivation to the community instead, they are making these investors who bought them during their great time lose their money. In fact, instead of making a profit as a reason why they bought them, they are getting hopeless and nobody buys this project these days, they are holding it right now and a few years from now, no one is able to remember this anymore.

deepblue01

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Quote from: LastKiss on May 26, 2023, 05:33:20 PM

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

~snip~

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.

Everything in the Crypto market won't last forever, there are lots of risks in the crypto market and one of them like what you said but many people investing in NFTs because they love art, they see the potential of investment in NFTs, and they try to invest in something new, etc. NFTs won't last forever but long term absolutely yes in my opinion, just pick a good NFTs and hodl it like a few years and see what happens.

I think is not enough, maybe just pick a good NFT to be used for gaming and see how much it worth next year or more.

Quote from: Doan9269 on May 27, 2023, 08:54:27 AM

NFTs in general may continue to remain forever but which and which one will last or stand for long is what we cannot have assurance on, we take the risk to only invested on them within a couple of years and then later sell them, they are not the best asset for our investment but we can narrowly invest over them within a short period of time, meanwhile it's more better not to put all the investments on NFTs alone, we cwn egage the memecoins as well as other cryptocurrencies we are very confident in.

i agree with that. most nfts will not survive in this cycle. i think i wont hold nft for long time because the risk is too much

Xal0lex

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Quote from: o48o on May 24, 2023, 05:50:13 PM

Quote from: Xal0lex on May 16, 2023, 03:14:45 PM

I wonder how many NFTs, of all those created at the moment, have any value at all, not only to their owner, but to the rest of the community or even to world culture? How many? 0.001% of the total? Less? More?
-cut-

Probably slightly more then with erc20 or bep20 tokens. As those are even easier to make, you don't need even images to attach to them. I consider NFTs basically as shitcoins or memecoins with pictures. At least with those you can play with more visuals. Having a million pepe coins seems less visully entertaining then having 100 different pepe nfts. Even though you don't own the pictures, just tokens linked to them.

Probably because many people associate NFTs with images. I've rarely seen NFTs containing chunks of text or audio files. Probably because many people prefer to see what they buy rather than read or listen to it. I remember there was even a little hype around NFT with famous tweets, but that hype quickly subsided and didn't get the proper exposure. Even the NFT, containing the very first tweet in history, has fallen in price many times over, as few people are interested.

axxo

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NFT's can affect its lifespan. If the NFT is stored on a centralized platform that goes out of business or experiences data loss, the NFT could be lost forever. If the NFT is stored on a decentralised platform or on the blockchain itself, it has a better chance of lasting indefinitely. The popularity and demand for an NFT can also affect its lifespan. If an NFT is highly sought after a valuable it is more likely to be preserved and maintained by collectors and enthusiasts. It is impossible to guarantee that an NFT will last forever, storing it on a decentralized platform it can increase its chances of longevity.

asyakashi

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I don't think so. they can indeed be used as long as the platform is running where this platform can display the functions of the nft we have. but the NFT trend must have a limit, where if the trend runs out we won't feel the scarcity of NFT anymore or even they will become just ordinary pictures or videos which have become not rare items. I understand they are given security through a difficult algorithm, but all crypto trends always have an end I think NFT is the same.

Doan9269

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Quote from: deepblue01 on May 26, 2023, 10:25:42 AM

Quote from: Wakate on May 24, 2023, 06:14:30 PM

We should always have the thought in our mind that nothing last forever. Even when we look at the coin market, there are many coin projects that had existed for so long and now they are not more. Some are just ranging in the market why others have few investors holding them because many persons must have been tired of holding. NFT can not last forever but it is still going to be in form of a digital coin that can be use toake transactions. Those that are holding NFT should not get discouraged because the bear market has not yet send us to the bull market.

do you think this is a bear market?
i can see the altcoins have already bled too much but not bitcoin the last bear market the last bear market take bitcoin down 80%. i think not many crypto can survive this cycle.

NFTs in general may continue to remain forever but which and which one will last or stand for long is what we cannot have assurance on, we take the risk to only invested on them within a couple of years and then later sell them, they are not the best asset for our investment but we can narrowly invest over them within a short period of time, meanwhile it's more better not to put all the investments on NFTs alone, we cwn egage the memecoins as well as other cryptocurrencies we are very confident in.

Lamkuthang

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Quote from: Abiky on May 26, 2023, 08:55:02 AM

Quote from: o48o on May 24, 2023, 05:50:13 PM

Probably slightly more then with erc20 or bep20 tokens. As those are even easier to make, you don't need even images to attach to them. I consider NFTs basically as shitcoins or memecoins with pictures. At least with those you can play with more visuals. Having a million pepe coins seems less visully entertaining then having 100 different pepe nfts. Even though you don't own the pictures, just tokens linked to them.

You can never own an NFT, especially when its data is stored on a centralized server. Maybe that's not the case with Ordinals inscriptions (BRC-20)? I don't get why there's a lot of hype surrounding NFTs, when they could easily fade into oblivion. They're not something you can touch or truly own like a physical collectible.

I know Blockchain is the future, but it's not meant to be used for everything. There are millions of NFTs that could bloat popular Blockchain networks if they become a big hit. BTC experienced high fees because of this, as well as, ETH itself. Moving data into a decentralized cloud storage solution may not be enough to improve NFTs as a whole. This is just starting to blossom, so I'd give more time to see what happens. Just my thoughts Grin

True, Abiky (OP) NFT is still in its early stages of development, so it needs to be given more time to see its development and the Blockchain network is facing scalability challenges due to the increasing number of NFTs resulting in high transaction fees and technology but what are Ordinals inscriptions (BRC-20) able to solve the problem through decentralized storage?

LastKiss

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

~snip~

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.

Everything in the Crypto market won't last forever, there are lots of risks in the crypto market and one of them like what you said but many people investing in NFTs because they love art, they see the potential of investment in NFTs, and they try to invest in something new, etc. NFTs won't last forever but long term absolutely yes in my opinion, just pick a good NFTs and hodl it like a few years and see what happens.

deepblue01

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Quote from: Wakate on May 24, 2023, 06:14:30 PM

We should always have the thought in our mind that nothing last forever. Even when we look at the coin market, there are many coin projects that had existed for so long and now they are not more. Some are just ranging in the market why others have few investors holding them because many persons must have been tired of holding. NFT can not last forever but it is still going to be in form of a digital coin that can be use toake transactions. Those that are holding NFT should not get discouraged because the bear market has not yet send us to the bull market.

do you think this is a bear market?
i can see the altcoins have already bled too much but not bitcoin the last bear market the last bear market take bitcoin down 80%. i think not many crypto can survive this cycle.

Abiky

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Quote from: o48o on May 24, 2023, 05:50:13 PM

Probably slightly more then with erc20 or bep20 tokens. As those are even easier to make, you don't need even images to attach to them. I consider NFTs basically as shitcoins or memecoins with pictures. At least with those you can play with more visuals. Having a million pepe coins seems less visully entertaining then having 100 different pepe nfts. Even though you don't own the pictures, just tokens linked to them.

You can never own an NFT, especially when its data is stored on a centralized server. Maybe that's not the case with Ordinals inscriptions (BRC-20)? I don't get why there's a lot of hype surrounding NFTs, when they could easily fade into oblivion. They're not something you can touch or truly own like a physical collectible.

I know Blockchain is the future, but it's not meant to be used for everything. There are millions of NFTs that could bloat popular Blockchain networks if they become a big hit. BTC experienced high fees because of this, as well as, ETH itself. Moving data into a decentralized cloud storage solution may not be enough to improve NFTs as a whole. This is just starting to blossom, so I'd give more time to see what happens. Just my thoughts Grin

lobo13hf

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Quote from: o48o on May 24, 2023, 05:50:13 PM

Quote from: Xal0lex on May 16, 2023, 03:14:45 PM

I wonder how many NFTs, of all those created at the moment, have any value at all, not only to their owner, but to the rest of the community or even to world culture? How many? 0.001% of the total? Less? More?
-cut-

Probably slightly more then with erc20 or bep20 tokens. As those are even easier to make, you don't need even images to attach to them. I consider NFTs basically as shitcoins or memecoins with pictures. At least with those you can play with more visuals. Having a million pepe coins seems less visully entertaining then having 100 different pepe nfts. Even though you don't own the pictures, just tokens linked to them.

well honestly NFT far inferior than even those of meme coin, at least with meme coin in general you can still have some liquidity,
but with NFT what really you got though, the uniqueness become the disadvantage if there's no liquidity at all.

Wakate

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We should always have the thought in our mind that nothing last forever. Even when we look at the coin market, there are many coin projects that had existed for so long and now they are not more. Some are just ranging in the market why others have few investors holding them because many persons must have been tired of holding. NFT can not last forever but it is still going to be in form of a digital coin that can be use toake transactions. Those that are holding NFT should not get discouraged because the bear market has not yet send us to the bull market.

o48o

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Quote from: Xal0lex on May 16, 2023, 03:14:45 PM

I wonder how many NFTs, of all those created at the moment, have any value at all, not only to their owner, but to the rest of the community or even to world culture? How many? 0.001% of the total? Less? More?
-cut-

Probably slightly more then with erc20 or bep20 tokens. As those are even easier to make, you don't need even images to attach to them. I consider NFTs basically as shitcoins or memecoins with pictures. At least with those you can play with more visuals. Having a million pepe coins seems less visully entertaining then having 100 different pepe nfts. Even though you don't own the pictures, just tokens linked to them.

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Quote from: eaLiTy on May 20, 2023, 05:01:01 PM

Quote from: Hypnosis00 on May 17, 2023, 06:08:23 PM

~
If we are thinking of a profit, we should not consider them on our list, they are dying actually. In fact, many people who buy them during their time/season can no longer sell them, nobody is buying this stuff actually.

The initial hype created a make belief that it would sell like hot cakes and it indeed sold for large sums of money thinking that they could resell them at a huge price but when hundreds of similar projects pops up the initial hype created could not sustain further. That said, if the projects can make use of that NFT in games and other online activities then it would fetch valuation, other than that it is useless.

But indeed seeing from the hype concept it will forever be like that.
NFT is too uphill from the start, in fact, any new project will definitely have something to do with NFT, which targets almost everything. But in this case, of course, the more hype, the greater the fall, and that has happened frequently, including in NFTs. Now that they are just a collection regardless of anything it will be very difficult for them to revive. Even though it might still be possible but with the previous hype I don't think it will be surpassed anymore because regardless of anything there might still be some people who are trapped but of course we are aware of previous experience so that should be the initial benchmark not to do the same thing.

Topic: Can NFTs last forever? - page 7. (Read 1584 times)