Is the Nft hype-cyvle is over? | Bitcointalksearch.org

SquallLeonhart

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Quote from: chaser15 on October 09, 2021, 06:20:10 AM

It's not over but the hype just decrease. Not all can maintain the hype for long. There's a certain trend at each. More importantly, NFT is not the same as ICO before that all crashed and go. There are NFT related projects that are worth to invest with the proper research at our own.

I guess it would take a ton of money to keep the hype going any further. We already reached to billions of dollars spent every month on NFT, and if we end up with it going any further up that would be just money that we do not really have to spend right now as a market, we need to calm down and have a little less action going around in NFT world.

This doesn't mean that the amounts should go down, it just means that the top ones could stay at the same price, even go up, while the other lower ones would not get any attention at all. This way instead of top half getting 2 billion dollars per month and bottom half getting 200 million, we would have top getting 1.9 billion and lower getting 50 million, the overall dropped but the top ones did not drop too much at all.

budlo

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Quote from: chaser15 on October 09, 2021, 06:20:10 AM

It's not over but the hype just decrease. Not all can maintain the hype for long. There's a certain trend at each. More importantly, NFT is not the same as ICO before that all crashed and go. There are NFT related projects that are worth to invest with the proper research at our own.

Quote from: budlo on October 09, 2021, 06:06:11 AM

At the moment the hype around the NFT has not yet subsided but it is worth noting that the trading volumes at the opensea are falling but it can be seen that trading volumes are growing on other platforms such as binance, solana and tera.

Noticed that too. But still kicking depends on how good the project at marketing.

Of course there is no place without marketing. In this case it is worth noting that many projects prefer not to spend their money and investors' money on the gas of the ether network. It is worth noting that in these networks it is much easier to run into scam projects.

chaser15

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It's not over but the hype just decrease. Not all can maintain the hype for long. There's a certain trend at each. More importantly, NFT is not the same as ICO before that all crashed and go. There are NFT related projects that are worth to invest with the proper research at our own.

Quote from: budlo on October 09, 2021, 06:06:11 AM

At the moment the hype around the NFT has not yet subsided but it is worth noting that the trading volumes at the opensea are falling but it can be seen that trading volumes are growing on other platforms such as binance, solana and tera.

Noticed that too. But still kicking depends on how good the project at marketing.

herurist

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Quote from: JeffBrad12 on October 05, 2021, 06:07:18 PM

Quote from: Jasper HODL on September 27, 2021, 08:19:10 PM

The popularity of NFT decreases with the prices of Bitcoin and Ethereum.

Bitcoin and ethereum have nothing to do with the popularity of NFT. AXS was increasing a lot due to its utility and it didn't even care about the price of bitcoin and ethereum. NFT project didn't even need to wait for the major coin to be bullish to get the hype. It needs to do something useful.

they are like a current that is very difficult to stem and the fans are getting more and more.
and what you say is true. they don't care what happens to eth or bnb because basically they are different in terms of system.
and in fact the past few months have been hype that has even become overhype in the adoption of NFT.
this is not without reason apart from AXIE it's fun they also start having fun playing as if they forgot the trading market but they can earn income from it.

budlo

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At the moment the hype around the NFT has not yet subsided but it is worth noting that the trading volumes at the opensea are falling but it can be seen that trading volumes are growing on other platforms such as binance, solana and tera.

dhemasm

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Quote from: JeffBrad12 on October 05, 2021, 06:07:18 PM

Bitcoin and ethereum have nothing to do with the popularity of NFT. AXS was increasing a lot due to its utility and it didn't even care about the price of bitcoin and ethereum. NFT project didn't even need to wait for the major coin to be bullish to get the hype. It needs to do something useful.

I suppose it's only relevant for AXS or some other big NFT project with larger audience for the smalles one Bitcoin market was really affecting it beside some development, Even though there are some rally on BTC some weeks before AXS seems doing some good performance without affected by the market.

cliber

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Quote from: cliber on October 07, 2021, 12:11:24 PM

In terms of continuing the NFT hype, I agree according to Alex Thorn of Galaxy Digital. Because something that is hype will not last long. For now, I am very interested in the NFT project because there are so many NFT enthusiasts and it becomes an opportunity if we invest in the NFT project, although I am sure that it will end by itself.
At most the NFT hype will last about 2 more years in my opinion.

I don't even see that this NFT will last for another 2 years because within two years there will be a new trend born to become a new rival to NFT and others, and if NFT can survive, then it will never die again. in the cryptocurrency space.

Survive in the long term or not I can't decide for sure but there must be data. But the 2 years I mentioned are just my guess at the persistence of the NFT hype. On the other hand, surviving or not, depends on the parties concerned with the NFT project. But regarding the NFT hype I'm sure it won't last as Aex Thorn says.

cliber

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In terms of continuing the NFT hype, I agree according to Alex Thorn of Galaxy Digital. Because something that is hype will not last long. For now, I am very interested in the NFT project because there are so many NFT enthusiasts and it becomes an opportunity if we invest in the NFT project, although I am sure that it will end by itself.
At most the NFT hype will last about 2 more years in my opinion.

isabellel2

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For me daily up and down trading volume in the NFT market is just a common thing. You can't pinpoint that as a clue to the end of the NFT trend. Now investors won't jump blindly into anything just because it contains the word NFT. There is no infinite amount of money, every market no matter how big has a size and it seems to me that the limit of what it can be achieved with NFTs, this is bound to happen with this market, even if i think that it has some potential right now is flooded with scammers selling all sorts of things that are never worth anything, it makes me feel so boring anyway we should share and warn new entrants because scam projects will make them lose money.

justdimin

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Quote from: Twinscoin2017 on September 16, 2021, 07:05:05 PM

I've been following crypto this recent days and I am surprised about the amazing hype of NFTs, some of the NFTs are selling for unimaginable amounts of money, and many have become millionaire because they are being early or by being part of the minting process.

However, September has not been as wild.

According to Alex Thorn, from Galaxy Digital, NFTs daily trading volume has continuously declined every day after the start of September. What does this all means? Is the NFTs hype- cycle is over?

I wouldn't say it is "over" but it is certainly getting much less attention these days. It depends on what you do with NFT as well, things like Axie will probably keep going for a while, and I am sure eventually we will see some competition, it doesn't make sense to have something that expensive on ETH with huge gas fees all by itself without proper competition, yes there are some others but none of them are huge, just like how Uniswap was huge, pancake became huge as well, I am expecting something cheaper in another blockchain to gain as much users as Axie did. That type of stuff where you can make a profit from NFT could work and could keep on making a profit.

However, what won't make a profit is the pictures. If there is a project that sends you .jpeg and you pay 3 thousand dollars for it, I do not know how you can justify that not being a scam.

yazher

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That's it because most of them are just like the old school cloud mining where they will make it look like they are legit by giving everyone a decent amount of income when playing their games. But it turned out the be a disaster when you proceed to play just a few more weeks and the result will be frustrating because as you add another investment, you will find that the game will change and it will no longer give the estimation you have before you add another money in it. I've been in the NFT games for a while now so I know what it means to invest and not getting what you expect just like in the crypto blade where most of my money has gone.

livingfree

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Quote from: JeffBrad12 on October 05, 2021, 06:07:18 PM

AXS was increasing a lot due to its utility and it didn't even care about the price of bitcoin and ethereum. NFT project didn't even need to wait for the major coin to be bullish to get the hype. It needs to do something useful.

They're putting a lot into the staking and there's now about $1B+ that are staked in AXS.

It's just the start of it and the Axie devs said that they're just 6% complete and I think that they're delivering their promises and it will going to make the game more enjoyable with these rewards.

Questat

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Quote from: imstillthebest on October 05, 2021, 12:07:01 PM

maybe it is but for me id say that nft hype is still there because everywhere i go i can always see nft projects or ads about nft .
like cryptos , nft can also experience a bad times because not all times people have money to buy an nft and sometimes people that are involved in nft sold their nft's for cash .
september is over and october have started rolling on , let see if what will be the nft's performance this month .

Only just a few of them get into the rally while some are in the downtrend. This means that not all of these projects have the potential and investors leaving them to find another project. This has been happening to ICO projects, some survive from the crisis while the others die. NFT will keep its momentum as long as investors could still make some profit from them but for the moment that they have gone, NFT's will also follow. That is how the crypto market works and only those old and potential coins will stay long-term.

OgNasty

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Bitcoin doesn't even have a reliable side chain to host NFTs yet. The closest thing is Namecoin as a merged mined chain, and even that has a long way to go with development before it's usable by most people.

We are still very early in the NFT scene. Sure, 99% of them will probably end up worthless and the ones that are successful (at least the ones currently on the market) will likely end up looking similar to the current state of the CryptoKitties project in a couple years. I'm pretty sure at some point events will be using NFTs for tickets and that alone is a pretty awesome use case.

I think of NFTs like shitcoins, only much more limited and actually have something you can see. I'll take some random image minted on the blockchain over a pile of Safemoon any day.

JeffBrad12

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Quote from: ?? on ??

LOL! Of course it not. No way. Did you hear about MonstersClan? The hype is only beginning.

I guess he didn't but can you take a new project like monsterclan as a way to determine whether the trend was still going on or not? i never heard about this kind of project before but AXS was showing if the hype was still there.

Quote from: ?? on ??

This is not surprising, for this and the future, for example, $ YCT came up with the idea of monetizing TikTok video

Doubt if this will be a successful project. It seems like just another project that created a gimmick. it sounds like another money grabber only.

Quote from: Jasper HODL on September 27, 2021, 08:19:10 PM

The popularity of NFT decreases with the prices of Bitcoin and Ethereum.

Bitcoin and ethereum have nothing to do with the popularity of NFT. AXS was increasing a lot due to its utility and it didn't even care about the price of bitcoin and ethereum. NFT project didn't even need to wait for the major coin to be bullish to get the hype. It needs to do something useful.

imstillthebest

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maybe it is but for me id say that nft hype is still there because everywhere i go i can always see nft projects or ads about nft .
like cryptos , nft can also experience a bad times because not all times people have money to buy an nft and sometimes people that are involved in nft sold their nft's for cash .
september is over and october have started rolling on , let see if what will be the nft's performance this month .

ardentvolcanoes

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Quote from: 0verseer on October 05, 2021, 08:58:46 AM

Every cashcow has its time. I liked the idea of NFTs but with too many NFT around in the market right now, people will be more selective about what to chose. There is also mean that NFT has passed the accumulate phase and will soon have some correction as the trading volume slows down.

Slowdown as maybe another trend will comes up but so far NFT hypes still ongoing there are many investors and traders who continue to take their part trying to got some decent profits from this space. Some might taking their time and wisely observing which BFT project will provide decent profits, they are not rushing knowing that they are taking a big risk if they failed to choose which asset or NFT to support.

Quote from: ?? on ??

I believe that NFT will continue to keep the bar, especially if there are interesting projects
For example, the $ YCT project allows you to monetize videos in tik tok,

There are bunch of NFT that really hyping and chances still open for people who have that nerve to risk their money.

0verseer

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Every cashcow has its time. I liked the idea of NFTs but with too many NFT around in the market right now, people will be more selective about what to chose. There is also mean that NFT has passeed the accumulate phase and will soon have some correction as the trading volume slows down.

Silberman

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Quote from: pelumi20 on September 27, 2021, 03:19:20 PM

We cannot really conclude that the NFT hype cycle is over yet, but i am sure it would come to an end soon. Because all the several hype in the crypto market always have an end. Check out the likes of ICO, IEO, Defi, etc. They all started with huge hype, but the hype died off later.

And this is what is the problem, if the only thing sustaining the interest in an asset is hype then sooner or later the new money will run out and those holding those NFTs are going to panic when they find out that no new people are coming to the market anymore and that the overpriced digital data they bought and that did not gave them true ownership of the work of art is worth nothing, it is sad but many people are going to lose their whole savings because of this.

Ccexicocartel

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The hype cycle is definitely winding down. What we’re going to see in the next few months will be new use cases for nfts (like what 4K is doing with physically-backed nfts)

Topic: Is the Nft hype-cyvle is over? (Read 491 times)