Is NFT real store of value | Bitcointalksearch.org

riskarcher

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Quote from: TheGreatPython on February 07, 2022, 08:30:23 AM

Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

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?.

If they have no liquidity why they can be sold and their selling price is not normal but it was millions. They do have a liquidity too but I think the liquidity can be track only on the platforms where NFT is sold but like you I also think that NFTs are not a real store of value but only cryptocurrencies are because the NFT value is based only on the person that is selling it not unlike to cryptos that the money that you put on them will automatically be reflected to it and the price is not decided by a single person only.

Some of us still wont understand why NFTs are worth that much and we hate that fact but can we just care less on them and focus more on the cryptos.

Just like other collectible works of art, NFT can also be collected. Each NFT will apply a collectible item that cannot be duplicated, thus making it a rarity. That is the reason why NFT has a high price. Of course, the quality of the work is also a determinant of the very expensive price of NFT. NFT is a type of blockchain which refers to tokens issued by developers on the Ethereum platform according to the ERC721 standard/protocol. The difference NFT between Bitcoin and Ether is that each NFT has its own value, and each Bitcoin or Ether has the same value. Currently, NFT has penetrated into various fields, such as collectibles, intellectual property rights, certificate certification, financial instruments, taxation, games, and many others.

TheGreatPython

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Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

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?.

If they have no liquidity why they can be sold and their selling price is not normal but it was millions. They do have a liquidity too but I think the liquidity can be track only on the platforms where NFT is sold but like you I also think that NFTs are not a real store of value but only cryptocurrencies are because the NFT value is based only on the person that is selling it not unlike to cryptos that the money that you put on them will automatically be reflected to it and the price is not decided by a single person only.

Some of us still wont understand why NFTs are worth that much and we hate that fact but can we just care less on them and focus more on the cryptos.

bhadz

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Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

I don't think that NFTs are real store of value because they have no liquidity and volume

They could be. It depends to the NFT you hold but they're more volatile than the usual crypto that we choose to hold.

Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

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?.

You're right on this. But there are those the NFT makers that has the reputation and there really are people who's interested on buying them thus, they make the volume for that NFT. Though, the reality is it's only for some artists and nft makers.

Henrobakkara

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Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

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?.

My problem with NFTs is that these days anyone can just create an NFT out of some random picture and want to sell it so X amount without any real value just like the shitcoins in cryptocurrencies. I don't think I get the value behind NFTs or why I should put my funds in there, but let's see how far most NFTs will go.

yazher

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Quote from: Bitcoin_Arena on February 05, 2022, 05:50:07 PM

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

That's what I'm thinking because no matter how much I think of it, my mind doesn't digest the reasoning about the huge price of a single image of a cartoonized monkey. It becomes like the old shitcoins we had way back in the 2017-2018 era with altcoins. Now we have this called NFT arts which became the hype of the metaverse but don't have enough reasons to become useful in the future, just a mere collections.

https://rarity.tools/upcoming/

look at that insane price, for an unknown NFT item.

bonyaserg

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At the moment, NFT does not provide any interest for me. And besides, I want to say that NFT coins are not a real store of value for me. The NTF coin is a separate cryptography system that you need to watch and keep abreast of all events in order to profit from the sale on the NFT coin. And besides, the NFT coin for me requires even more study and attention.

Sterbens

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NFT is not included as a store of value for finance. They are more concerned with appointing works of art and legalizing legal ownership. Whereas NFT is actually a financial nest that not everyone can benefit from. In NFT itself, you only save the work and trade it, that is, when a work has a high selling value and has its own aesthetic value.
If NFT is the store of value, then what is the backup of its value?

Ziskinberg

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Quote from: bounceback on February 07, 2022, 03:54:57 AM

NFT is not classified as an asset that can store value for the future because its value is not determined by the circulation of its supply, the price of nft only depends on the buyer so it does not guarantee that it can serve as a store of value for the long term because it does not rule out the possibility that in the future the buyer will offer the nft that we have at a lower price.

That was only a sort of art collection, nothing we can make a good trade if no one will able to buy your NFTs unlike we can do to other projects. Looking to NFT now, I'd never see any bright side but rather the dark one. I'm might wrong, just maybe but the truth can be reveals someday. And I think people must have to know more about NFT, not just because of someone show something great and unrealistic output as this projects seems not to be considered as a store of real value.

bounceback

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NFT is not classified as an asset that can store value for the future because its value is not determined by the circulation of its supply, the price of nft only depends on the buyer so it does not guarantee that it can serve as a store of value for the long term because it does not rule out the possibility that in the future the buyer will offer the nft that we have at a lower price.

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Quote from: Kelvinid on February 06, 2022, 05:48:07 PM

In general, NFT's are too close to becoming worthless in the time being. Now, it was to see that only a few people are buying digital arts and giving less interest to the community, as these NFT projects are wasn't like other projects that we could rely on a profit.

According to whom? Nfts are different class there are nfts used for collection and some for gaming ecosystem. If there are use case of those nft, why would it go down? If there is a solid use case and demand. Im also investing on some ICO or ido but I see this nft investment as par also with token trading.

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Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

I don't think that NFTs are real store of value because they have no liquidity and volume,

The correct thing must be if NFT was not liquid. NFT has volume but it doesn't liquid like token. When you're trying to sell it and then you need to find the buyers unlike the token that you have exchange site as aggregate for the demand and your token, in NFT you need to find that and when there's no demand for your NFT and it can't be sold.

Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

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?.

I guess the one who said that didn't even know how NFT works. Tokens are betting choice rather than NFT if someone willing to use this token as store of value. The only problem is so many people didn't even aware about this. they keep blindly calling NFT as store of value. So many pump and dump in NFT and it works differently compared with tokens.

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Quote from: pooya87 on February 06, 2022, 01:22:38 AM

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.

You DO realize that NFT protocol is used for other then art as well? Just because they represent links to pictures doesn't make the tech any less revolutionary. Uniswap V3 uses nfts to represent LP positions.

On the other hand rounding up all random nfts like they were all under this huge umbrella as store of value is just weird. Some of them might be, like some art is, until it's not.

Also getting rid of an nft fast can be very hard, so you don't want to be in a hurry to liquidate your nfts.

Kelvinid

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NFT is not a real store of value, not for me...
I'd rather invest in Bitcoin, even ICO projects are much more reliable than this. Those who love arts might go for it but for us who want to make money, that certainly be ignored.

Quote from: vv181 on February 06, 2022, 05:09:20 PM

NFT uses are varied and some people may subject NFT as a store of value. Typically NFT are being used as collection things that mainly incorporate art but the deep underlying of technicality itself is able to be used for a variety of reasons. So maybe differentiate between any "valuable" NFT or just some meaningless NFT, though currently, the art space is mainly filled with copyright-infringing material or just some bogus content.

In general, NFT's are too close to becoming worthless in the time being. Now, it was to see that only a few people are buying digital arts and giving less interest to the community, as these NFT projects are wasn't like other projects that we could rely on a profit.

vv181

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NFT uses are varied and some people may subject NFT as a store of value. Typically NFT are being used as collection things that mainly incorporate art but the deep underlying of technicality itself is able to be used for a variety of reasons. So maybe differentiate between any "valuable" NFT or just some meaningless NFT, though currently, the art space is mainly filled with copyright-infringing material or just some bogus content.

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Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

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 art collector probably saw something that its really hard to understand, they spend a lot of money on this and we can never know their real purpose for buying an NFT art. Though I can say that many NFTs today are worth to buy because they have the real purpose in the market, you can earn some benefits if you buy good projects of NFTs. Like in gambling, some site offers an NFT and it will give you some privileges, I guess this is more worth it to buy.

isaac_clarke22

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Quote from: mk4 on February 05, 2022, 10:35:40 PM

~

...Or even a random edited PNG/JPG files out there that are being called "NFTs" by some people. I heard that people just do those and call it a day after they posted it in OpenSea.
Others are calling NFTs also as another in-game currency which is quite common these days especially here in my country.

magneto

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Not particularly.

I think that there are certain collections that do warrant some praise, but the bulk of the projects are just going to die and go to zero at the end of the day.

Even though they are technically infungible, there are tens of thousands of similar looking collections out there and each collection has thousands of NFTs. Certainly not something that I would want to store my wealth in long term.

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Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

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 is divided into two imo, the first is NFT games ^{(usually purchased to play in games)} and the second is NFT images/music... nft games have value, as long as that game still exists while NFT images need great luck to be sold out. don't buy NFT carelessly because it can make your money stuck there.

teosanru

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Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

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?.

No one has ever said that NFT is a store of Value. NFT is merely a store of an art, it's the art that carries the value, not the NFT. For example a painting even though it's not liquid can be said of value because of the art it contains and if sold in open market could fetch a good value. No one ever thinks of buying a painting for investment or store of value. NFTs too should be treated the same way I feel. for store of art and not value.

eaLiTy

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Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

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?.

The art market is a crazy one and i never understood why someone would spent that money money for an art, i understand they wanted to preserve and have their private collection but i would not spend millions for a painting or any form of art let alone digital art in a blockchain. I purchased them just for curiosity sake and people are willing to spend huge amounts in the NFT market and they might have their own reasons.

jc12345

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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.

Reid

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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.

7deadlyBTCIN

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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.

zasad@

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Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

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.

takngantuk

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Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

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.

Trojane

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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

ibuddy122505

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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.

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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.

Quote from: pooya87 on February 06, 2022, 01:22:38 AM

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.

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Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

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.

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Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

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.

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From wikipedia:

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.

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Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

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.

pooya87

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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.

Jawhead999

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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.

mk4

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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).

OcTradism

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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.

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Quote from: YellowSwap on February 05, 2022, 12:23:20 PM

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

Yogee

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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.

Quote from: jackg on February 05, 2022, 12:40:06 PM

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.

jackg

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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).

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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?.

Topic: Is NFT real store of value (Read 350 times)