Topic: Crypto NFTs, what are your thoughts. (Read 243 times)

Most of the time NFTs have no resell value, the one that bought it the first time is most likely the one that is going to end up holding that piece of useless digital data which has no value forever.

I could understand this market if people were actually buying NFTs because they wanted to collect them and keep them, so even if NFTs ended up being worthless at least they could have fulfilled their objective, but people are buying NFTs to resell them for a higher value, something that is incredibly difficult to do when the market is now filled with NFTs and their number does anything but grow, creating an even bigger supply when the demand is not growing a the same rate.

I am very worried that if the NFT trend has passed, there will definitely be no final offer with the highest price, I prefer the top coin investment option with the lowest price because it will guarantee a profit when the bull market comes in the middle of the year.

I think that NFTs have radically lowered their fame, because now many have gone to NFT games to make it a way to earn money while having fun, but it has been 90% many failures, because it remains in the hands of devs who have no ethics in their majority and they leave everything taking the money of others, I know many games that have not been able to get out of the crack of their internal economy, Axie Infiniity is one of the games that until now has some life, but its profitability has dropped a lot, which makes people not very interested in that game.

It's a Ponzi, and the value holds as long as the narrative behind NFTs also holds. Remove the possibilty of "easy money", do you believe the street artist would sell his work at inflated prices? I feel sorry for the last person who bought it at ATH with no willing buyer. Who would he/she feel losing his/her money? Scammed.

Well ideally we have lost the chance because that child has already gotten the idea registered with his NFT. It’s all unique for him now and if we try to do something similar then it would be nothing but copying him and won’t be much value.

Obviously it may get value if someone sees our selfies as the attractive one or may be some characteristics which the buyer wanted to see.

Don’t know I’m suspecting that some IT giant might have bought it because they wanted to test the facial recognition software by feeding his data into it.

Who knows, million possibilities are there for this to happen.

It's amazing when there is a child who is still young but can have assets of $ 1 million just by selling the picture alone.
What if we also try sir who knows we are also as lucky as him 😊
Because nothing is impossible if we dare to try it what more if we have our own ar.t

You couldn't stop people on doing that because as long they do know that they could really benefit from then they would engage through it no matter how risky it would be.NFT's is on the hype now
whether you do engage or not then its up to your own choice.We've been pass through lots of trends if you've been here on this market for years on which they do come and pass
and as long there's some interest then they would surely stay up for a while but if there's something new exist then there would really be some turn around
of interest and this would be a never ending cycle.

My recommendation is to stay away from the NFT market, now it is true that it is possible to make a lot of money if you buy or create the right NFT, but you know what is even more likely? That you lose your money before seeing any profits.

Let other people be part of the fad and lets wait and see if the whole thing with NFTs will actually become a real thing instead of the bubble that it is, I know it can be difficult to avoid the temptation but it has be done if you want to avoid losing your capital for no reason at all.

Exactly my sentiment towards NFTs. It will die out unless the governments or at least ANY governments declare legal ownership transfer of rights on NFTs, its just a picture/gif that doesn't actually belong to you (in the sense of copyright ownership), even though you "bought" it. In fact, one of these days NFT art is going to become a whole big problem in the eyes of the law when NFT owners start suing. If this ever changes, NFT's will become a viable and real option for me. Until then, its not worth it.

I believe that they will be used for something awesome in the future, but that is based on the project and not the whole NFT idea itself. Doesn't mean that we have to accept it the way it is right now. It just means that we are doing something that is good enough for itself in the future. So, I am just waiting.

One day we will see a project that uses NFT as a very crucial part of the deal without having such a horrible drop, look at Axie, they found a great way to use NFT but their tokens dropped so much that all axies and slp price is 50%+ lower than what it used to be, nearly 80%+ lower to be fair. I think there will be one that will do the same but keep the prices a lot more stable in the future.

Everyone?? Do you mean every single NFT buyer will be reach just by buying?
I think this is a bit exaggerating to say that NFT will make "everyone" rich. There are some NFT buyers who became rich by flipping the NFT they've bought. There are some artist who created their own NFT's that became rich because of their arts. There are some investors who invested in NFT games who became rich.

Not everyone will become rich with the help of NFT but I'm not saying that everybody doesn't have a chance to become rich with the help of NFT's. Its just that only a small percentage of investors that are involved in NFT's will become rich. TBH, I don't know the reason why there are some people who are still buying some mere pictures in the internet. I mean everybody can create their own one.

As an NFT holder, you will only earn profits from it when you will resell it at a higher price thus you will lose everything you've invested into that NFT if nobody will buy it. That is one of the risk of NFT's. Well, if somebody buys your NFT's then good for you.

I don't appreciate art too much, like paintings or whatever unique ways they do it. Friends do tell me they see the artistry in it, I don't.
But in the gaming section of NFT, I was amazed. I had no expectation that a game could provide back to their players. Before, you will need to be the best one in the game to create money thru tournaments and other events that provides prizes.
It changed dramatically when they inserted NFT in it. Gamers/Players can now make money out of little investment and a bit of work.
Example: Level up your character - make it a NFT - then sell it to the market.
Merge two NFT's to create a new unique item - sell it to the market
Another option is if they made a coin that could be sold for cash.

You don't necessarily need to create nft to profit from it, even if you don't create nft you can always participate in an early sale of nft base project and make good money as well, and the good thing about those nft's is they are mostly very limited in supply so it is very easy for the price to go up, although i haven't had the opportunity to participate in any but i have seen the price some are being sold for, some are very expensive.

Yes exactly. I’m just making my point but we gotta say this is something miraculous that guys are winning hell lot of money for something that we may never buy with Fiat money.

Who would go in the market and buy someone else’s selfies. Lolz.

And yup, it’s all about the crypto which is making them rich. I just hope this trend continues and the whole crypto gets benefits from the same.

In my opinion, NFT is an asset that cannot be underestimated. This is an opportunity for us to profit.
A few days ago, there was a man who went viral by selling his own photos in NFT form, he even collected photos within 5 years. And he's paid off for his consistency. A motivation for me when I want to do something. When we consistently do something, then we will get unexpected rewards from the results of our hard work.

I believe they will definitely expect something they truly expected, and they have seen it before during bearish market cycles. The late “investors” will lose money, but the early “investors” will actually make money. What do you call that? It starts with the letter “P”.

Few makes sense and many don't, everyone can create his or her NFT now and the numbers are growing which does makes less sense to me, it's like having the will to build your own gold or diamond and sell them, how can that be available for everyone? The NFTs I can keep or invest money on are those you can use in game as weapons and upgrades or skin

The vast majority of the NFTs have nothing to do with art.They are mediocre pictures,which are being bought and sold with the expectation that their price is going to increase 10x.
If you are making "art" only for the sake of making money,then you are not making art.Believe me.
There's nothing wrong with the artists making money,but artistic expression and making money are two completely different things,which cannot be combined.
Maybe there's a real piece of art here and there among all NFTs,but NFT buyers don't care about art.They care about buying and selling for profit.

Pass to the monkey ones, I'd still look for ones that are up to my preference, but never to the monkey ones. I'm still baffled how some NFT's are a fad, the selfie guy being one, but well, it's already happening in my face, can't keep denying that it's a fad. I tried understanding the NFT market, but with the recent developments, It's outside of me how it works right now or how the hell do these buyers/sellers give it value. Don't get me wrong, that in itself is amazing since they're making a profit, but hey, you do you but you won't make me enter it, nope.

None! That's my short and simple answer to this new digital hype. Head towards the website called Opensea which is by far the biggest NFT marketplace and explore their collections. You will see some really great piece of art, but you will also see meme avatars are selling for millions of dollars. Definitely art is subjective but unless and until you have a big name to backup the collection, it's extremely difficult to sell your art.


Nope! I don't believe in this NFT thing and selling digital assets. So I didn't try! However, I am a frequent visitor of Opensea to understand the trend of the market.

Saying that NFTs make "everyone" rich is taking it too far. It's just like saying that "crypto is making everyone rich"; whereas we know for a fact that only a very small minority actually makes money in the end. It's just the fact that we only mostly hear about the people winning.

This kid got hella lucky though. Someone on crypto Twitter managed to find his collection, and it got a lot of traction simply due to how absurd the collection is. NFT collections are mostly graphically designed images, then here we have this guy with his selfies.

Gosh these NFTS really making everyone rich I see. Just a 22 year old kid getting 1 M? Wow I’m just so naive into the world of crypto I would say. It is astounding to see how anyone can get into crypto these days and make their way all the way up to millions of dollars.

It’s also applauding to the bidder who actually bought the selfie’s from this. Not at all sure why he would need it but I’m sure he had his own passion behind it.

Kudos to NFT world.

This is how fads work, if you think NFTs are indeed a fad. Look at Beanie Babies and other fads that we've had over time. They spike and then die way down, but some fads never die completely. Personally, I can't say whether NFTs will be around for the long term or not, but I do think they have a reasonable chance for some long term success. We're already seeing things in crypto gaming/metaverse arena where people can use their NFTs to design walls inside their virtual houses. Here is one article where you can see pop star JJ Lin doing just that inside his Decentraland estate. NFTs are a form of art, and there's a huge market out there for art and has been for centuries now. If a solid method comes around to eliminate fakes/copies and things of that nature, we could certainly see more people in the "live art" world dabble into the "digital art" world.

Nowadays when most people think of NFTs, they think of the monkey you mentioned and the thousands of remakes it's had. I don't know if I see that type of stuff lasting. In the long term, I think NFTs are going to have to be more unique than that. We've seen enough of the monkey now, so people are going to have to start doing more unique things. For example, here's a 22 year old Indonesian man who made $1M selling NFT selfies These are nothing but simple selfie images, but if you read the article you'll see that each image has a story behind it. For example, one of the selfies is right after he received his COVID vaccine. The best type of art (long term) in the digital world is going to be exactly like it is in the real world - unique!

All of them to me are amazing especially when they're being sold to anyone. The idea that there are people that are willing to buy those expensive NFT arts tells me that you expect something unexpected.

Just like this guy who sold a likely beeple of himself.

22-year-old Indonesian boy makes $1M by selling NFT selfies on OpenSea

That's how the crypto industry mostly works, right? Things get super hyped up until 99.9% dies into oblivion while a very very small minority actually survives.

None on those PFP projects. For the art side of things specifically(DAOs and communities aside), probably the 1 of 1s.

Recently I came to know about NFTs and how people have made money selling their art and creations.

I wasn't much aware of NFTs as a whole in past but after reading about NFTs and watching youtube videos I find it fascinating and how the crypto world is getting hyped up with these small things, I think it's good to step toward the future of crypto.

-What type of Art NFT do you think are best, ( Maybe those monkey ones? )
-Do you create NFTs in form of art, if yes then please share the links.