Topic: Can NFTs last forever? - page 8. (Read 1584 times)
NFT used to have a good time with the vibrant market it brought to many people. However, that is no longer the case; the past is over, and now NFT is really something superfluous in this market community. I know there are a lot of people who are happy to profit from NFT trading, but why are they happy now? Everything has a certain time for existence, so I think it is no longer valid to continue to exist. It is better to use it as a gift instead of trading it. In fact, now many projects are doing this compared to launching high-value limited editions of NFT for no good purpose.
i don't know about that but there is story from the past.
the name is cryptokitties, The first NFT uses the ethereum network.
Back then a lot of people were buying or selling cats on the ethereum blockchain.
And now the cat is being sold at a lower price
the name is cryptokitties, The first NFT uses the ethereum network.
Back then a lot of people were buying or selling cats on the ethereum blockchain.
And now the cat is being sold at a lower price
Forever in this instance I feel should be moderated to the longevity of the internet. As long the internet, the world wide web and satellite and antenna and mast for network or internet service is still up running and functional, NFTs should last that long.
Why I say so is because NFTs are like digital stamps or etchings that is difficult to erase. Ever heard the saying that the internet never forgets? I guess that's where or how the brains behind the NFT had in mind when they created the idea.
Why I say so is because NFTs are like digital stamps or etchings that is difficult to erase. Ever heard the saying that the internet never forgets? I guess that's where or how the brains behind the NFT had in mind when they created the idea.
That would be true if the whole NFT is stored on the Blockchain. But we all know that's not the case with most NFTs being sold on the market today. They have data stored on centralized servers that could disappear in an instant. Data doesn't need to be stored on a Blockchain, but rather on a separate network that would serve as a decentralized (or rather distributed) cloud storage system. Something like IPFS or Arweave would do the trick. How long will the craze last is a wild guess.
NFTs could be preserved for generations but if the hype dies, they could be worth nothing in the long run. At least, NFTs are a "fun experiment" meant to test the Blockchain's capabilities. If successful, they could replace physical items as we know them. Who knows what the future will bring to our society? Just my thoughts
Firstly, I personally have never invested in NFTs. Because I consider it an unpromising business to buy, as I call them, ordinary pictures. I have a few and they got me as a reward for various types of work. All this, in my opinion, will soon go into oblivion and something new will appear, because technology does not stand still and develops, tomorrow there will be something else
Me too i never bought a single NFT, I do not see any use only so much speculation, the ones I had were given to me for free. NFTs have so far been a single speculative instrument .
Forever in this instance I feel should be moderated to the longevity of the internet. As long the internet, the world wide web and satellite and antenna and mast for network or internet service is still up running and functional, NFTs should last that long.
Why I say so is because NFTs are like digital stamps or etchings that is difficult to erase. Ever heard the saying that the internet never forgets? I guess that's where or how the brains behind the NFT had in mind when they created the idea.
Why I say so is because NFTs are like digital stamps or etchings that is difficult to erase. Ever heard the saying that the internet never forgets? I guess that's where or how the brains behind the NFT had in mind when they created the idea.
Firstly, I personally have never invested in NFTs. Because I consider it an unpromising business to buy, as I call them, ordinary pictures. I have a few and they got me as a reward for various types of work. All this, in my opinion, will soon go into oblivion and something new will appear, because technology does not stand still and develops, tomorrow there will be something else
You're sound and everyone's entitled to their own opinions but the very notion that "NFTs are an unpromising business to me because they're just ordinary pictures" is a little absurd, the picture is half of what you pay for, the rest is the ownership and if you're with a project that's feature packed, cause most of DAOs and Crypto-call groups nowadays sell their membership or add their membership as a feature in an NFT they sell. So again, if you dig deep, you'll find out that a lot of NFTs today have moved past that phase of money laundering and scamming people, it's more about providing real use-cases that people could enjoy. On the other hand however, I still don't see NFTs prevailing in the end. They are a fad that's bound to fade from the get-go. Congratulations to the people who were able to rake profits from them but that's the end of it, no more no less.
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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. 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.
In my opinion, NFT is indeed very interesting and has become one of the major innovation advances in the crypto world, but to continue to exist in the future, it will be a big challenge for NFT, investors will quickly get bored and lose interest if NFT doesn't have big innovations later.
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? I think the figure is extremely negligible and makes it clear that this technology is extremely crude and not used for its intended purpose at all. How many announcements in the last year have we heard from big and well-known artists that they are releasing their NFTs? It seems that everybody understood that this sector is full of speculators and wash traders and something tells me that the theme of art is the least of their worries.
It's all speculation. Unless governments or serious entities start issuing NFTs, don't expect the trend to be taken seriously anytime soon. Still, it would be nice to preserve the data of NFTs that are truly valuable. Would imagine losing it all if the server containing the NFT data goes down in an instant? You'd say the properties of the NFT are stored in the Blockchain, but without the content, what's the use?
This is still the early days of crypto/Blockchain tech, so I believe there's room for improvement. The solutions are already there to make NFTs last forever. It'll be up to developers and/or NFT creators to do the right thing by using any of the available decentralized cloud storage solutions for investors' own benefit. NFTs or not, crypto won't be going anywhere soon. Just my opinion
Until blockchains solve scalability problems and until crypto users learn to treat these tokens not as a means of easy profiteering, but also to consider their utilitarian properties, nothing in this industry will change. NFTs will continue to be synonymous with scam and spam. Bitcoin was once associated with scam too, but then with the advent of regulation, it began to be noticed by individual heads of state, bankers and large investment managers. Not only does it take time to be accepted, but it also takes a dramatic change in regulation. As long as everyone can anonymously create an infinite number of NFTs, including fakes of known originals, nothing good awaits this industry.
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? I think the figure is extremely negligible and makes it clear that this technology is extremely crude and not used for its intended purpose at all. How many announcements in the last year have we heard from big and well-known artists that they are releasing their NFTs? It seems that everybody understood that this sector is full of speculators and wash traders and something tells me that the theme of art is the least of their worries.
It's all speculation. Unless governments or serious entities start issuing NFTs, don't expect the trend to be taken seriously anytime soon. Still, it would be nice to preserve the data of NFTs that are truly valuable. Would imagine losing it all if the server containing the NFT data goes down in an instant? You'd say the properties of the NFT are stored in the Blockchain, but without the content, what's the use?
This is still the early days of crypto/Blockchain tech, so I believe there's room for improvement. The solutions are already there to make NFTs last forever. It'll be up to developers and/or NFT creators to do the right thing by using any of the available decentralized cloud storage solutions for investors' own benefit. NFTs or not, crypto won't be going anywhere soon. Just my opinion
I'd see people are happy before when buying NFT projects but for now, I really don't think we can see smile on their faces, probably regrets.
But what I take is that this NFT project will last for a long-time. Unfortunately, we can't also think that it was valuable, it was just your crypto collections instead. 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.
We must be aware that pleasure is based on what. What I saw and felt was that even I, who was in NFT a while ago, was only focused on the hype and exploiting the conditions when NFT was booming at that time.But what I take is that this NFT project will last for a long-time. Unfortunately, we can't also think that it was valuable, it was just your crypto collections instead. 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.
I'm in NFT and I'm happy about it considering the benefits when their hype is good it benefits me, but on the other hand we also have to be aware when talking about hype then it's clear that there will be a time like this and now is the NFT era it's been said to be over so now for NFT it's just about collection because when talking about price then I think it's difficult.
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.
Above all of this, I believe that NFT's are worthless. I didn't think they were "worthless" until recently, I believed they were worth "less" than what they were sold for, and it wasn't just this bear period that made them go down but they would stay down and it wasn't a good position to be in if you were an NFT owner and even bull wouldn't bring them back to ATH prices again.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.
However, recently I changed my mind and started to think that it is worthless and will be terrible as well. I believe that we shouldn't really focus on them anymore and I suggest everyone to stay away from them and never one any. Only do so if you think you are not doing it as investment, if you really want to support the artist then that's fine, but never for investment reasons.
I'd see people are happy before when buying NFT projects but for now, I really don't think we can see smile on their faces, probably regrets.
But what I take is that this NFT project will last for a long-time. Unfortunately, we can't also think that it was valuable, it was just your crypto collections instead. 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.
But what I take is that this NFT project will last for a long-time. Unfortunately, we can't also think that it was valuable, it was just your crypto collections instead. 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.
NFTs It's not a stable coin and not any crypto currency related any coins Nft means Non Fungable Token shortly NFTs i Think who already already budget huge off Nfts that's why Millionaire soon or later.
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.
NFTs to me are just a temporary tokens used to serve a particular purpose frombthe intention of it creators, which makes it not a currency but a token, and investing on token must be with ultimate care because many are scam tokens in the market, as long as they are controlled under a central server developers they can be attacked and or controlled by anyone.
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.
You shouldn't invest on tokens ror a long time because they can cease to exist anytime especially during high volatility when bitcoin and crypto market goes bearish, some of these tokens goes down completely along.
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.
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.
Ha ha. Good point, proving once again the absolute impracticality and ineffectiveness of buying NFTs as some form of digital art, and with an exorbitantly high price tag. Investing in NFT is suitable only for speculation, but not for collecting or anything else. Art is eternal, but these chitcoins are fleeting. As the recent situation has shown, NFTs can only effectively destroy entire ecosystems, and they will never be attractive for investment.
Physical art is eternal but when it comes to NFT as Abiky stated, they are stored somewhere, and that is likely in centralized servers.
And these servers don't last forever. And certainly, the owners can't guarantee that they can secure it in eternity.
NFTs is just one facet of today's technology, it can very well disappear in the years to come and replace by a new one.
Remember, it is a hype for now and its future is face with uncertainty. So it is your own prerogative if you want to own one or not.
If you have the capability to buy an expensive artwork, I would prefer the physical artwork rather than the digital one.
That for sure, you can own in your lifetime as you have the full control on how you will handle and secure it.
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? I think the figure is extremely negligible and makes it clear that this technology is extremely crude and not used for its intended purpose at all. How many announcements in the last year have we heard from big and well-known artists that they are releasing their NFTs? It seems that everybody understood that this sector is full of speculators and wash traders and something tells me that the theme of art is the least of their worries.
Even if media data is lost, the history of NFT properties, ownership and expenditures on the blockchain provides a history and reputation that cannot be deleted from the blockchain and is still valuable.
Also I believe most of the NFT is stored on backup servers so it can be re-attached to the media data on new servers, which restores the full value of the NFT.
Also I believe most of the NFT is stored on backup servers so it can be re-attached to the media data on new servers, which restores the full value of the NFT.
If that is the case, then we should have nothing to worry about. NFT data must be preserved if we want to display or sell our digital collectibles in the future. Crypto/Blockchain tech is all about decentralization, so why not put everything on a decentralized cloud storage solution? The decision lies on NFT creators themselves.
While I don't think the trend will disappear, people will move on to the next big thing in the crypto space with the hopes of getting rich quick. New trends such as Soulbound tokens (SBT) and tokenized assets (Gold, Diamond, Real Estate, etc) will take over the NFT hype for a while. When will that happen is an excellent question. Just don't invest more than what you can't afford to lose, and you'll have nothing to worry about.
(...)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 can understand the problem OP mentioned, as I myself am a user in NFT environment, indeed this is a problem for which there is currently no perfect solution to this problem. However, there are a few improvements and solutions that can help reduce the risk of NFT loss due to centralized server failure. However the way I see the solution from using IPFS, it can be said that using IPFS can help reduce the risk of centralized storage in a single place, using this protocol also allows stores data on multiple servers, which minimizes the risk of data loss.Although there is no perfect solution yet, using the above solutions can help minimize the possibility of NFT loss. With the development of distributed and decentralized storage technologies, we can expect many new solutions to be developed in the future to help protect and store NFT in a sustainable and secure way than.
Firstly, I personally have never invested in NFTs. Because I consider it an unpromising business to buy, as I call them, ordinary pictures. I have a few and they got me as a reward for various types of work. All this, in my opinion, will soon go into oblivion and something new will appear, because technology does not stand still and develops, tomorrow there will be something else
That makes two of us. I thought I was the only one who has never minted an nft despite the hype around it. I just don't fancy it or buy the idea. Not that I am against it though, but it just doesn't appeal to me.
They won't last for ever
The idea of NFT is not quite yet promoted and is not particularly clear to many. Therefore, it is logical that many people buy or receive NFT, and almost immediately sell. It seems to me that NFT is an ordinary postmark that is needed today, and tomorrow it is useless.
that's true right now NFT seems like just yet another ordinary short lived investment in general many that are investing in NFT aren't really in need of NFT, sometime the NFT just required like a key for people to claim some airdrops, some project are using NFT nowaday just for the sake of eligibility of an airdrops in which quite fine enough but kinda speaks volume the current condition of NFT that's usually just for temporary use.the art NFT nowaday also didn't as much attention like before whereas many of them are just outright losing their value.
the NFT investment isn't sustaining, so I doubt that as many have said again, everyone would care about the well being of their NFT most of them just outright toss away their NFT by selling it at low price at the end of the day.
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