Is the Nft hype-cyvle is over? - page 2.

the ghabbar

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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?

That's the condition that NFT continues to experience, there are two projects that people often talk about about NFT, Games and Artwork, the NFT Hype cycle is decreasing in my opinion in terms of art, while digame is increasing in terms of sales and audiences, which is the problem for NFT at this time only in works. art, because there is no control over the value of the work of art, everyone can create and sell it openly, so the work of art is only valuable in the beginning, for now the work of art is increasingly less valuable.

trauchot

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The NFT sphere is still very popular and I think that the NFT sphere has not yet fully shown itself and therefore I think that in the near future the NFT sphere will still show itself, I also constantly see various big players buy various NFTs for very big money and I think that they are doing it for some purpose, and in general I constantly see new cryptocurrency companies that want to develop in the NFT area, this also says something, so it's worth waiting for a while when the cryptocurrency market will start to grow and then NFT sphere will begin to grow too just as quickly and possibly will reach new heights, so we need to be patient, but I think we will soon get what we are waiting for.

michellee

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If you see the popularity of NFT hype reduced, people try to search for the other trends because a new trend will change after NFT. The NFT hype can not stay forever in the crypto world and will replace other new things. But NFT will still be part of the crypto like the other previous project. We do not know what is happening to NFT now, but we need to be ready if the NFT trend is really over and prepare for the next trend.

Sayeds56

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Quote from: tabas on September 24, 2021, 12:08:22 PM

Just the usual crypto market that it goes up and down. The hype may be over for some but as long as there are still people buying NFTs, it won't be over.
I guess that it will stay but not as many as we've seen before and only the best will.

True, NFT hype is not over and as a matter of fact everyday new projects are being launched with new features specially for sports games NFTs. The month of September was bad for overall crypto market so is the case of NFTs. This sector will show its real color in coming months and years when new use cases like Licenses/Certification, Fashion and staking/farming will be developed to make this market more attractive for long term investors.

yazher

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They already know that it is only fantasy that they will earn through hodling those new NFT items sadly they turned out worst than shitcoins where you don't get your capital back if you spend buying it when the game already launches because mostly after 1-2 weeks the game will change its course and will become no longer profitable. You can check the top 10 NFT games today and see the result you won't find any of them as they used to be when they launched except for a few games which are not profitable today.

matchi2011

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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

Investors are more wiser now, they are not the same anymore where they are just blindly invest with projects that attached NFT on it.

They are now more furios as they understand the possibilities that scammers are everywhere, it's no longer hot
but not really ended there. NFT still gaining interest but they are not in the same level when it's first being intrduce.

sirminesalot

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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.

Actualy hype projects is over not because there are another project type is coming but if something is hype, there will be a lot of scammers coming with the same type of project and make the system looks bad.
There are a lot of scamming NFT project right now which make people wrong to invest and lose money, and those people will said NFT is no longer a good project even though they made their own mistakes.
NFT is really fit for entertainment crypto space, such as games. Games with NFT is really promising and i'm sure it will survive for the upcoming years.

Jasper HODL

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The popularity of NFT decreases with the prices of Bitcoin and Ethereum. Perhaps it is because ordinary users are afraid that their NFT will depreciate due to the depreciation of ETH. I think the NFT wave is not over yet. With the arrival of the bull market in the second half of the year, the NFT wave will re-emerge.

7788bitcoin

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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.

We will see whether these trend will continue when the bear market returns, i am really hyped seeing the market right now and the different NFT some of these projects launches, but what happens when there is no use case. NFT is a different market altogether than ICO, IEO and DEFI, but the problem i see in the long term is that what can they do with the purchased ones as some of these NFT are sold at very high rates and what will be the resale value and what if no one gets them when you wants to sell them.

So these are the questions that are in my mind. If there is a use case then it is a different story but right now, i am curious to see how long the hype will continue.

Rabi3

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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.

I don't think it will end soon, we all hear a lot of news for celebs and big companies buying nfts and such, just like Twitter, recently they said that they are working on adding verified NFTs to Twitter accounts which definitely boost it again, and I am sure more bug news will come soon too, so the hype-cycle did not end yet.

nimogsm

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Quote from: Rahman11 on September 27, 2021, 02:01:01 AM

The NFT boom has gone bust — for now. An in-person NFT gallery in New York. Consumers' preferences, priorities, and values are reshaping industries. The digital artist Beeple shocked the world in March when he sold his collage “Everydays” at Christie's for $69 million as a nonfungible token (NFT).

I think there will be no such large deals when they spend tens of millions of dollars on NFT. People are still interested in this phenomenon, but the deals are already an order of magnitude less and each new project wants to create its own NFT as well as other famous personalities, I think this will last half a year no more.

pelumi20

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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.

jhanson

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I definitely think the hype cycle is winding down, not necessarily over. Like the ICO phase, it’s seems like the market is priming for a new use case other than speculative art.

Silberman

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Quote from: bitcon on September 24, 2021, 02:02:23 PM

Usually I judge if the trend is over and what is a new one just from this platform and new projects that appear at this moment. Talking about the current situation, I see that hype still continues. Maybe people trade less on NFT-marketplaces and make deals with digital pictures, but NFT-games and other NFT-projects still appear and are very popular with investors.

Since NFTs are different than fungible coins and each one is unique it is very difficult to see the price of those assets crashing the way we see crashes in regular coins like ethereum, the crashes on those coins are silent and you will not see this is the case until you try to sell your NFTs and people are only willing to pay 10% of what you paid, so I think you are looking at the wrong metric as I really think there is already a silent crash going on many NFTs.

Jackl87

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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?

In the end those NFT's also need a use-case because if you can do nothing with them why should you buy them. Of course a use case in this context is also that the NFT is rare and that it has value for collectors so that it maybe rises in prices if you are holding it for some time just like "real" art does too, but i don't think that this is the case for most of the NFT's that are minted at the moment because it seems to me that every project is releasing NFT's now even if it makes no sense.
So i think that NFT's are definitely here to stay and if the NFT's are good, like from a good artist or a big company and if they are rare, they will always sell and increase in price, but if they are not then why should someone buy them?

Rahman11

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The NFT boom has gone bust — for now. An in-person NFT gallery in New York. Consumers' preferences, priorities, and values are reshaping industries. The digital artist Beeple shocked the world in March when he sold his collage “Everydays” at Christie's for $69 million as a nonfungible token (NFT).

indo1

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But it remains popular to this day, one of the enduring trends. I'm not sure the NFT trend ended so quickly. Because currently the market is experiencing a correction even the market is being bear. We should look at the NFT trend at a time when market conditions are positive.

Fundamentals Of

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No, I guess September is not the beginning of the end of the NFT hype. It just so happened that September is never really that friendly to the crypto market. The month usually sees a drop in the prices. If you look at the charts, it is not just the NFTs that are going down. The whole crypto market is generally red this month. Expect that whatever happens to the wider market will reflect on NFTs as well. But come October and the final quarter of 2021, recovery will be seen.

GreatArkansas

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For me, NFT is still hot now.

I can say that basing on current top gas guzzlers on the Ethereum network now.
If you will check it on https://etherscan.io/gastracker, OpenSea is the rank 1, since OpenSea is an NFT platform. And it is one of the reasons why Ethereum transaction is still high right now, a lot of people participating with NFT, so for me, NFT will stay but hype, I don't know if it will stay forever.

OgNasty

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There is some innovation happening in the NFT space. The Apes had an interesting approach with derivative rights. Bitbones has some pretty cool sandbox development happening. BullsOnTheBlock are doing some cool stuff with their DAO and staking developments. It’s easy to write off NFTs as dumb images, but there’s a lot going on under the hood. I think NFTs are better suited as investment vehicles than most realize right now.

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