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.

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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.

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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.

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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.

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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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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.

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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.

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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)

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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.

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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.

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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.

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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.

flip4flop

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I wouldnt say that the NFT hype is over however, we will likely start to see these cash grab copycats start to peter out as the real projects start to gain more value. Much like all the ICOs of 2016-2018 people will get tired of all the anon projects and false claims of a pipeline. As long as you are putting money into solid projects and teams NFTs will likely have value for a long time. There is still quite a bit of speculation involved in which ones those will be and how they can be used and implemented going forward but there will certainly be some long-term winners.

Shallow

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Well, I would say the NFTs had a good trend but nowadays i don't seems to fathom how the trend is going, perhaps the trend or hype is slowing down on a daily basis, and if one is to watch the crypto space now, we can see that a lot of DeFi features and activities seems to be going on, in fact a lot of blockchain platforms are already building massively on DeFi and not only that, a lot of projects on several blockchains are already carrying out developments to offer one Defi services or the other. Therefore, I think I would say that the hype is gradually going back to DeFi and this time around, not just for specific blockchains like Ethereum or Bsc, but for a whole lot of other blockchains like Solana, Avax, Fantom and so on.
Lastly, one thing with trend is that, it is good to join on time and make the best out of it, those who joined NFT on time must have made their gains.

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Quote from: bussybuddy on September 24, 2021, 09:56:30 PM

The signals are that people's interest in the market is growing, perhaps profiting from that hype won't be a problem.
A lot of NFT projects have achieved amazing returns, and I think sometimes the FOMO is the exaggerated nature of the market at this stage.

The most important thing is to be able to take advantage of every moment and every opportunity that exists in the market so that the profit target can always be achieved under any conditions or in the cryptocurrency marke

but it requires instinct and precise timing, and maybe this can be done only for a few people who really understand when they take a position in crypto.
and the people who are sorry here are ordinary people who are still beginners and still don't know how to see potential and TA so they often use their intuition to guess the market.

Quote from: bussybuddy on September 24, 2021, 09:56:30 PM

because no matter what happens, complaining about the hype and fomo is not a good solution.

and I really agree with this because indeed because it will only add to your stress and without getting any benefits.
rather than complaining about it, it will be very useful when you try a little more to new things, for example developing research or maybe studying TA more deeply.

Emitdama

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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 is a normal thing in this space. When a new idea comes in, a lot of people would like to buy it. It is automatically becomes a trend in the market, but as time goes on you will notice that the interest in this particular area has been declining. From ICO,decentralize finance, STO, etc.

It has always been like this for all of them. When it comes out newly is always a trend, but when a new one comes out it replaces the old one. now that NFT is losing its momentum in the market, a new trend might come up anytime soon. Let’s just wait and see.

firesurfer

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NFT has its own value and usage environment. NFT projects are constantly being launched and valuable over time. The NFT market is entering a steady state instead of a hype, which in my opinion is good because hype can cause a crash and mess up the market.

bussybuddy

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Quote from: ?? on ??

Quote from: bussybuddy on September 24, 2021, 09:56:30 PM

The signals are that people's interest in the market is growing, perhaps profiting from that hype won't be a problem.
A lot of NFT projects have achieved amazing returns, and I think sometimes the FOMO is the exaggerated nature of the market at this stage.

The most important thing is to be able to take advantage of every moment and every opportunity that exists in the market so that the profit target can always be achieved under any conditions or in the cryptocurrency market, because no matter what happens, complaining about hype and fomo is not a good solution.

Of course, that's not difficult for those who have followed and accompanied it,
but I see here a lot of newbies who are complicating things themselves. Sometimes they don't understand how important it is to be patient with everything in this market, and I think everyone needs to trade something in order to get something in this market. With NFT, we should not evaluate them baselessly, when the potential has not been fully exploited, there are many other things.

Eureka_07

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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 past years, the month of September for cryptocurrency has been rough, justl ike in Bitcoin, so maybe it is also happening and does happened to affect NFT too, just for this month. However, NFT will be here for long, and it will always be hyped over and over again. It is a great investment IMO, specially to those projects that you can earn their tokens in just doing some simple task or playing the game.

wissy

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Its not nearly over yet. People will loose interest only after/if we see a huge drop of crypto, right now, greed is still too strong. For god sakes, even Snoop Dog started his NTF sandbox game two days ago https://twitter.com/SnoopDogg/status/1441076327948316686

sulendra12

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

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?

His speculation only refers to this month, so it's not "enough" to classify the NFTs hype is over. Let's give it another month and see what would happen at that month.
The trading volume decreasing continuously could be because it's so easy the price to get manipulated by a single person and people knows how to abuse it, so buying NFTs and such would be an easy to way lose your money because it's not profitable for now, at least from what I am seeing.

bison

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The ups and downs of transaction volume in the crypto space are commonplace, it's not a surprising thing, maybe for some people think that the NFT trend is starting to fade, but in fact there are still many people who believe in the potential of NFT and buy it, the NFT trend is still in the middle. safe level, he does not dim just rest, there are still many NFT-based projects that are currently of interest.

Dread Pirate Roberts

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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.

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?

well what happened also relates to the current bitcoin price. and I think it's still reasonable, a lot of good NFTs are still in the development process and i think there is still many people wait for something new nft concept will exist in this industry. maybe it's only because of the bitcoin market conditions that have an impact on the NFT trading volume decrease compared to before.

sikke

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There's still quite a bit of interest in the NFT space but I'd say that most of the frenzy is gone now.

People are getting to the actual uses of NFTs now, which is as a digital avatar or to allow for royalties to be collected on a very streamlined basis

I think that the space is very interesting and worth a watch in the future, but not many projects are worth buying at current prices.

fileo

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I don't think NFT demand will continuesly decline but the hype maybe will decrease due to recent scam NFTs and the current FUD in crypto. NFT is not yet over. The drop of demand could be a cause of the sudden dump that affect all cryptos including NFTs.

bussybuddy

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The signals are that people's interest in the market is growing, perhaps profiting from that hype won't be a problem.
A lot of NFT projects have achieved amazing returns, and I think sometimes the FOMO is the exaggerated nature of the market at this stage.

asriloni

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The same thing has ever happened with defi, when defi TVL and daily trade volume was going down on the several platform and there's a big boy that said if the trend gonna be end and that's BS. The hype will stay forever and it will not go to the somewhere. I guess it's too early to say like that as more and more NFT game was also coming and some new NFT projects were able to gaining more than 150x ROI instantly.The new nft platforms were about coming again very soon. that proves if NFT trend was still alive and it's not dead yet just because the volume on opensea was decreasing. There are hundreds thousands of active players on NFT game. The NFT artwork may become a different case caused by this is not so attractive like NFT game. People are taking BS created by big boy. The hype cycle can come anytime. none knows about this for sure but just watch the market.

Ziskinberg

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That I think was right. We can't just have to expect them to rule the market for long but rather to think that some of these projects will soon die like in previous projects (ICO, IEO, Defi). So I could say this was not surprising anymore, in fact, only gaming NFTS is able to surge and gains market attraction while the others are already abandoned.

I'm worried about if these projects went bad as the market showing a downtrend motion and making no chance of recovery. Or the current situation will create panic selling which drives out NFT projects in the market.

crzy

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Not yet but soon especially if the market enters into another bear market, we might see many NFT projects to slowly dying, and its happening already in some NFT games the top games before are now experiencing a big down fall. Well, this is expected and many will follow the down trend, the hype will slowly fade away.

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

According to Alex Thorn, from Galaxy Digital, NFTs daily trading volume has continuously declined every day after the start of September.

I gues you're reading the news related to him, right?

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

What does this all means?

It means nothing for sure, up and down in the daily trade volume is just a common thing. You can't expect if the volume will be growing anytime. there will always be the time people are moving to another trend and this will make the volume goes down. This is happening with defi in the past too.

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

Is the NFTs hype- cycle is over?

It's not yet over and it will remain forever like defi. I meant crazy buy for the NFT may be over but it's not with utility use case that can be offered through use NFT. you must also see a coin and the volume of this coin going up when there was a huge announcement but it goes down again.

zasad@

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The NFT theme is just gaining momentum. If now the majority of NFT tokens are useless and are sold by well-known personalities, then then tokens will appear that will have real use in games or will be a means of calculation in various projects. But with the current fees on Ethereum, this is not possible.
https://etherscan.io/block/13282942

watergold

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every increase there is always a decrease and the same goes for NFT because for the past few months NFT has been hype and even overhyped because the NFT invasion was so crazy a few months ago.
other than that, September always seems bearish considering there were several bearish cases in September and it's not even possible that we are on that path right now.
but actually this is very good for nft because considering the price increase it was too crazy in the hype a few months ago and there has to be a bit of stagnation and decline for it to stabilize.

Yaunfitda

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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?

September has a history of being a bearish month for bitcoin and the rest of the crypto.
Not sure what are the reasons, but hopefully we can get back to the momentum next month. So as far as NFT goes, I don't think that the hype is over, it just following a certain pattern for now. And there's no new hype to replace NFT so it will continue to attract new investors and new players in the market. And I'm still thinking that it will grow as we close out the year with a super bullish trend.

herurist

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I don't think so because considering NFT a few months ago it was actually overhyped in my opinion. not without reason, when you see the hype that suddenly makes the price go up, it's actually not very good for a project, as well as NFT.
it would be very reasonable if now NFT enthusiasts are not as enthusiastic as before because there needs to be a cooling down process first so that NFT is at least not too far away from the existing market increase.

bitcon

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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.

Silberman

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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?

There is not an infinite amount of money, every market no matter how big has a size and it seems to me that the limits of what it can be achieved with NFTs have been reached, this was bound to happen to this market, even if I think it has some potential right now is inundated by scammers selling all kinds of things that are never going to have any value so it was just a matter of time before people realized that they were losing money and that it was time for them to move away from such market.

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

Is the NFTs hype- cycle is over?

I think yes, The NFT market volume was declined lately and i think it's because lack of innovation on the market or it's already reaching it's peak, Just like DeFi or the others, The hype it's not going really too long and it's becoming mainstream, Well it's normal since the bubble already burst but beside like that there are some good NFT concept out there so even the market declined the innovation will continue and maybe going to rise again anytime.

Tipstar

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The excess hype is over. Now investors won't jump blindly on anything just because it contains the word NFT.
But NFTs are here to stay. Just like how Defis are still a thing even after a defi bubble popped off, NFT would still be a thing as there are real owners and artist into DEFI and they are a secure way of defining digital ownership. The NFT utilization sector could get even bigger with time.

tabas

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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.

TastyChillySauce00

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

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?

Up and down the daily trade volume in the NFT market just a common thing. You can't define that as a clue for the NFT trend hype to be ended.
That means nothing for me caused by the volume can increase anytime once the big players will be joining again in the NFT trend. Don't you see how some new NFT projects made 150x ROI instantly? that's proven that if the hype for the NFT trend has not yet ended. I think that you must try to see that based on the various metrics. You cna't take the daily trade volume as the most important metric to determine how long the trend will be going on. As you can see that some NFT projects were still sitting on the top 100 CMC. The same thing will be happening like defi trend. NFT has so many functionality and this trend will remain forever. NFT hype is not yet over. It's still running now.

Twinscoin2017

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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?

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