In my view NFT just proves ownership of the underying digital content. It is the digital content that has value or not. In the old days having a certificate and invoice for buying an oil painting at auction does not have value in itself. It was an antiquated method to prove ownership of the painting, but the painting itself has value. Perhaps the invoice together with painting has a greater of the sums value. The value of the underlying content has as much value as what a buyer is willing to pay for it. If there is no buyer there is no value except perhaps sentimental value to the current owner. If someone else wants it, the value goes up to what that buyer is willing to pay. Value can be destoyed overnight if the drivers of that value disappears eg. it becomes uncool to own that underlying content or if there is a new kid on the block that is cooler. Value can also increase if value drivers change eg. society thinks it is cool to own that or something becomes a status symbol (eg. cryptopunks)
But no I dont think NFT itself has much value, except to the extent that it proves ownership of underlying digital content that in its own potentially has value based on value drivers of the day.
Topic: Is NFT real store of value - page 2. (Read 359 times)
It's not just arts out there. Go try and do more researching to gain knowledge about how deep the NFT space is.
But I hear you when it comes to NFT arts. One example, not an NFT but could be a good resource. Monalisa, how many people does really appreciate what is the art in it before it became so precious. Yes, its very realistic as they say but who want it?
Gaining the knowledge of how many people want what you have is part of buying a NFT art. If not, then you might just be buying trash.
There are NFT's that could be used in daily grinds and may make you profit early or just simply ROI while keeping it in your possession afterwards.
But I hear you when it comes to NFT arts. One example, not an NFT but could be a good resource. Monalisa, how many people does really appreciate what is the art in it before it became so precious. Yes, its very realistic as they say but who want it?
Gaining the knowledge of how many people want what you have is part of buying a NFT art. If not, then you might just be buying trash.
There are NFT's that could be used in daily grinds and may make you profit early or just simply ROI while keeping it in your possession afterwards.
Where did you hear this from? NFTs can never be a real store of value because they aren't even necessary to begin with, there are more frauds going on in NFT space than coins and tokens world combine so if any want to buy NFT make sure you know what you doing.
I don't think that NFTs are real store of value because they have no liquidity and volume, how can one say that NFT is a real store of value when you can only sell if anyone is willing to buy, the advantage that a good alt coin have over NFTs is huge this is why I don't like the buying and selling idea of NFT or there is more I don't know about?.
Buying NFT tokens would be a very bad idea if you don't understand this market. Firstly, there is a lot of fraud here, because the owner can buy any token from himself if he uses different addresses.You will see that this token was sold and bought for $100,000, but you will never sell it after buying it for that price.
I don't think that NFTs are real store of value because they have no liquidity and volume, how can one say that NFT is a real store of value when you can only sell if anyone is willing to buy, the advantage that a good alt coin have over NFTs is huge this is why I don't like the buying and selling idea of NFT or there is more I don't know about?.
from the start the value of art is speculative, it depends on the enthusiast. so NFT is not suitable for store of value. whatever the reason, nft is not the best choice for it. as you said have no liquidity is one of the reasons why nft is not suitable. just because it's unique, doesn't mean it's going to be of value every time.
It depends on what is said to make it a store of value as there are many valuables to people but to some extent, it is certain.
Nft's will still count as store of value because no matter how little the commodity is, there is always someone out there that is willing to buy at your own price tag and that's the mystery beging the whole story.
It's is not advisable because the availability of WANTS is low and sometimes feeble in price negotiation which means you might end up loosing after everything in some cases
Nft's will still count as store of value because no matter how little the commodity is, there is always someone out there that is willing to buy at your own price tag and that's the mystery beging the whole story.
It's is not advisable because the availability of WANTS is low and sometimes feeble in price negotiation which means you might end up loosing after everything in some cases
You never know what might happen. I don't want to be left out. NFT is pure hype with have a crazy advertising effort.
NFTs are as yet in the hype phase, moreover it's my favorite due to this hype which is multi million, billion dollar business. I seriously don't get what this NFT hype is all about, but will probably be short lived. However, the idea of NFTs are bigger than just art. NFTs have amazing potential for a lot more extensive scope of utility.
NFTs are as yet in the hype phase, moreover it's my favorite due to this hype which is multi million, billion dollar business. I seriously don't get what this NFT hype is all about, but will probably be short lived. However, the idea of NFTs are bigger than just art. NFTs have amazing potential for a lot more extensive scope of utility.
They might be referring to NFT which have very high price and tied to different popular stuff (e.g. big company and popular artist), not most NFT which no one interested.
And anyone can create duplicate NFT since the content (usually image) and description are publicly accessible.
Here is another funny thing, the person who creates the NFT and sells it to idiots for things like their "art" can easily create more duplicates of the same NFT and sell it to more idiots and there is nothing stopping him from doing that.
And anyone can create duplicate NFT since the content (usually image) and description are publicly accessible.
I don't think that NFTs are real store of value because they have no liquidity and volume, how can one say that NFT is a real store of value when you can only sell if anyone is willing to buy, the advantage that a good alt coin have over NFTs is huge this is why I don't like the buying and selling idea of NFT or there is more I don't know about?.
NFT's, not even have the feeling and interest in buying them. We are too lucky if we could sell our NFTs pretty quick as most of the time it won't. yeah, I don't know how some people had been through to this and risk their money where in fact, NFT's are just into hypes without no sustainable market support which is to believe was very important. If we could see NFT projects are dying now, it never gives us surprised as that certainly will be going to happen.
I don't think that NFTs are real store of value because they have no liquidity and volume
You ask a question, then you answer it yourself. So, what for this topic if it is clear already? I guess everyone knows if NFT isn't a store of value because the value is hard to predict and even tends to drop once no longer trending in the market. This characteristic of NFT makes it to be an inappropriate place to invest your money for a long time.
From wikipedia:
Collectibles and art are actually listed as an example of store of value in the article, but this doesn't mean that NFT is also a store of value, because a painting or a sculpture is inseparable from the idea of art, while NFT is just a digital token, and nothing stops anyone from screenshotting the art it is supposed to represent. Which means that NFTs are very unlikely to retain their long-term value, and their current prices are a product of hype, wash trading and scams.
Quote
A store of value is any commodity or asset that would normally retain purchasing power into the future and is the function of the asset that can be saved, retrieved and exchanged at a later time, and be predictably useful when retrieved.
Collectibles and art are actually listed as an example of store of value in the article, but this doesn't mean that NFT is also a store of value, because a painting or a sculpture is inseparable from the idea of art, while NFT is just a digital token, and nothing stops anyone from screenshotting the art it is supposed to represent. Which means that NFTs are very unlikely to retain their long-term value, and their current prices are a product of hype, wash trading and scams.
I don't think that NFTs are real store of value because they have no liquidity and volume, how can one say that NFT is a real store of value when you can only sell if anyone is willing to buy, the advantage that a good alt coin have over NFTs is huge this is why I don't like the buying and selling idea of NFT or there is more I don't know about?.
For some nft yes. We cant say its a store of value, but observing those nft with a huge user base, then we could conclude that is not generally false at all. We could say that there are hypes on it and for sure those who says there is no demand are people who doesnt flipped nft. How could you listen to those who have some opinion alone. They even not probably using opensea or any marketplace at all. If some here says its just a scam then let them be. ( but I guaranteed you they never use nft at all and their saying is a thought they only believe in).I bought nft called guild of guardians during their primary sale and my nfts have real demand since its shows in the nft marketplace. Maybe some created only for hype and thats for real. But there are some nft worths looking also.
Dog shit is as much store of value as NFTs are.
Essentially NFTs are useless virtual things that can cease to exist at any moment and have no connection to whatever object in real world (like the art piece) they are selling unaware people. On top of all that, the centralization and mutability of the platforms these tokens are built upon makes them even less worthy, in other words they have no value themselves.
Here is another funny thing, the person who creates the NFT and sells it to idiots for things like their "art" can easily create more duplicates of the same NFT and sell it to more idiots and there is nothing stopping him from doing that.
Essentially NFTs are useless virtual things that can cease to exist at any moment and have no connection to whatever object in real world (like the art piece) they are selling unaware people. On top of all that, the centralization and mutability of the platforms these tokens are built upon makes them even less worthy, in other words they have no value themselves.
Here is another funny thing, the person who creates the NFT and sells it to idiots for things like their "art" can easily create more duplicates of the same NFT and sell it to more idiots and there is nothing stopping him from doing that.
Don't treat NFT like a coins, because each NFT created is different with each other just like physical art. If I paint Mona Lisa it wouldn't 100% same like Leonardo Da Vinci created, also even though he want to replicate his paint it still not 100% same like the previous paint. Of course the art only can be sold if someone willing to buy the art, it can be my art, your art, his art etc.
NFT could be have a value if the person who created the NFT is very popular and can manipulate the market, while the rest are only hype.
NFT could be have a value if the person who created the NFT is very popular and can manipulate the market, while the rest are only hype.
I'm guessing the person who told you that NFTs are a store of value is trying to compare NFTs to physical art. In the end, whether the asset you hold being able to hold it's value or not will totally depend on what specific asset you bought, not necessarily the asset class. A Picasso painting might(idk, no idea about the art market) be able to hold it's value really well, while a painting by a random person wouldn't(note that there's likely zero demand in the first place).
Do you call altcoins as store of value?
Most of altcoins are not means for store of value. Most of altcoins even fail to survive after a few months, few years. Most of them are clone projects and fail to develop from clone source codes. NFT projects are more risky because they are on a super hype trend which need time to be tested and verified. I don't negatively say all of NFT projects will fail and die in the end. It is a good trend and good technology but recent months, many newbies in crypto market just think NFT technology only relates to NFT Metaverse games that is not accurate. There are more use cases of NFT technology which can be much broader than GameFi.
Most of altcoins are not means for store of value. Most of altcoins even fail to survive after a few months, few years. Most of them are clone projects and fail to develop from clone source codes. NFT projects are more risky because they are on a super hype trend which need time to be tested and verified. I don't negatively say all of NFT projects will fail and die in the end. It is a good trend and good technology but recent months, many newbies in crypto market just think NFT technology only relates to NFT Metaverse games that is not accurate. There are more use cases of NFT technology which can be much broader than GameFi.
I don't think that NFTs are real store of value because they have no liquidity and volume, how can one say that NFT is a real store of value when you can only sell if anyone is willing to buy,
Who said NFTs are a real store of value to begin with?NFTs are just another phase of hyped shitcoins that will die out with time and when this happens, people will realize how silly they way to waste valuable ETH or BNB to buy this NFTs
Not yet. Maybe never will.
I think NFTs are still in the hype phase so expect extreme volatility even among projects that launched 1 or 2 years ago. Most of these projects could be profitable in the short-term but you may end up losing for holding long-term.
I think NFTs are still in the hype phase so expect extreme volatility even among projects that launched 1 or 2 years ago. Most of these projects could be profitable in the short-term but you may end up losing for holding long-term.
I kinda have the same feelingd about art as I do towards nfts though. It's how much the buyer values the individual product and actually a more focussed version of supply and demand (I've not done much with ntfs and nothing with art based ones).
It's like a collector's item.
I kinda have the same feelingd about art as I do towards nfts though. It's how much the buyer values the individual product and actually a more focussed version of supply and demand (I've not done much with ntfs and nothing with art based ones).
I don't think that NFTs are real store of value because they have no liquidity and volume, how can one say that NFT is a real store of value when you can only sell if anyone is willing to buy, the advantage that a good alt coin have over NFTs is huge this is why I don't like the buying and selling idea of NFT or there is more I don't know about?.
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