Is this the end for NFTs? - page 2. | Bitcointalksearch.org

wxa7115

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Quote from: FrozenBit on June 20, 2022, 02:35:08 AM

Projects related to the NFT trend are gradually cooling down. As the hype becomes more visible about them, less money is injected into them. I don't think there's a problem with their potential; it's just that overusing the term to chase after pump/dump causes the mess to be created. I think now there will be a lot of things related to this industry that are gradually being discarded because of the purpose they were built for. When the overall situation of the market is not good, it is difficult for these trends to work. strong action.

When it comes to this market hype can be incredibly strong and make a particular sector of the market incredibly popular, but just as hype can help the creators of those coins it can also hinder them.

NFTs seemed like a novel idea which could see some decent use in the future, but as scammers took advantage of them the enthusiasm that people had on those coins is slowly disappearing, to the point many people that were interested in those projects before do not care at all about them, as the losses they have suffered are enormous and they refuse to lose even more money because of those coins.

sana54210

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Quote from: Kadal Ijo on June 19, 2022, 10:00:25 AM

It must be admitted that the NFT market continues to decline, many NFT projects fail and become scams so as to make investors more afraid to invest in NFT, but I think NFT is still promising, the most important thing is to find projects that can last for the long term, and always monitor price movements and the community of the project.

I would guess that NFT and scams were a thing even before today and this month and all of the price drops that happened. However, we need to also accept the fact that bitcoin and all others went low as well, creating a new NFT art and trying to sell that during one of the harshest markets in the last few years, means that it is logical for them to not get sold or finding investors.

I would still be able to find some people, just do a collection for 10 bucks each on mint price, and if you do 10k that means you will make 100k and that is simple enough. Spend about 10-20k to build it, and then sell it for 10 bucks and you will get it, depends on the art idea of course. So, it is not about NFT failing, it is about projects not adjusting to the new market direction.

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Projects related to the NFT trend are gradually cooling down. As the hype becomes more visible about them, less money is injected into them. I don't think there's a problem with their potential; it's just that overusing the term to chase after pump/dump causes the mess to be created. I think now there will be a lot of things related to this industry that are gradually being discarded because of the purpose they were built for. When the overall situation of the market is not good, it is difficult for these trends to work. strong action.

Republikcoin.com

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Quote from: Kadal Ijo on June 19, 2022, 10:00:25 AM

It must be admitted that the NFT market continues to decline, many NFT projects fail and become scams so as to make investors more afraid to invest in NFT, but I think NFT is still promising, the most important thing is to find projects that can last for the long term, and always monitor price movements and the community of the project.

For now, it is still very difficult to know which NFT projects will be promising, because under current conditions everyone has also seen some examples of unpromising NFT projects so that some people can draw conclusions about this where NFT projects do not have strong resilience when bear market continues. Unlike many other cryptocurrencies that already have a very strong foundation.

koang

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Quote from: Desscount on June 19, 2022, 09:43:34 AM

it's hard to say that this is the end of NFT, because NFT has just started, the utility of NFT has also been running only in 2021,
when Play To Earn and Metaverse are Trending, then NFT is also Trending, because Bitcoin price is also bearish this year,
of course this is dragging NFTs coins starting to fall, but this is not the end, so don't worry

Yep, the NFT trend is not as hot as it used to be compared to now but NFT will still be here, NFT will still have its own niche in the crypto space.
The market is shaken and some crypto investors rekt, I can't see into the future but I believe the next big thing will happen.
After the rain comes sunshine

WeedGoW

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Quote from: Oilacris on June 18, 2022, 02:07:19 PM

Quote from: hyudien on June 18, 2022, 01:58:55 PM

Quote from: WeedGoW on June 18, 2022, 01:54:39 PM

From your point, NFT buyers can be two kind of people:
Real people want to buy the thing because of greed, thought they could sell it back to other at higher price.
Fake people exist to create a fake demand for NFT, to lure in real people so they can sell their overpriced, worthless NFT.
Truly, the worse kind of scheme exists to pump and dump their stuff since exchange at least provides a form of liquidation and real trade volume if that exchange is reputation enough. This is not the same for NFT cause they value it on the rare, only 1 of the kind bullcrap.

But in fact, we see that is no longer applicable in the market. In other words, NFT will only confuse you to resell it. At least set the lowest price because your purchases have dropped and anyone would avoid such NFT schemes. Nothing looks promising other than the NFT that the artists have. And our role is difficult to reach sales promotion even when the Hype is peaking.

One of the most common mistake of someone is to believe that they could make easy money with just those simple artworks and styles and that's why we've been flooded by hundred thousands of it and turns out that this is something which isn't that worth anymore when it comes on making it as an investment or for long term holds.They do know that they could potentially make money if ever it gets hyped or there sudden interest of the art but as expected on where trends do really have an endline or being over which means never make yourself comfortable on everything you do encounter as an investor.

Yes, exactly. They said it was one of the kind, ultra-rare stuff but the next day, many new NFTs floor the market with a similar style or theme. If they said NTFs worth depends on the artist's name then what they buy and sell is just a form of signature trading made by a person. That's lame and stupid.

paramind22

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I never saw much real art in NFT's. Most of it looked like cheap cartoons. I almost had a minor in art history and have been around galleries and talk of painting all my life.

I didn't see any conceptual artists on the level of Bauhaus, the Surrealists, Dadaists, Futurists, etc.

Kadal Ijo

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It must be admitted that the NFT market continues to decline, many NFT projects fail and become scams so as to make investors more afraid to invest in NFT, but I think NFT is still promising, the most important thing is to find projects that can last for the long term, and always monitor price movements and the community of the project.

Desscount

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it's hard to say that this is the end of NFT, because NFT has just started, the utility of NFT has also been running only in 2021,
when Play To Earn and Metaverse are Trending, then NFT is also Trending, because Bitcoin price is also bearish this year,
of course this is dragging NFTs coins starting to fall, but this is not the end, so don't worry

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Quote from: Reatim on June 19, 2022, 12:33:06 AM

Quote from: slaman29 on June 13, 2022, 03:04:05 AM

Not everyone is trying to shill to blow up a project though. Just like ICO days and right now, there are going to be SO many people becoming bagholders with a lot of life savings just tied up and down 80% or more.

So they're going to try and project an image of confidence to get even more people to buy to protect the slide.

People will be people, all looking for quick gains and it's so tempting now in this bear market.

There are maybe not that many but at least Shillers will keep shilling just to Boost their projects or their Holding coins in which for me ? a not so good attitude , because you can only post good or best words for the project you deeply understand and Know , not just because you are holding it or at least bought those coins in presale.

I was just saying that not all shillers want to make their project big, as I said it's just to show others that they're not afraid like the rest of the market.

Like the LUNA problem. People weren't shilling because they wanted Luna to grow, they knew it was going to die. But they wanted people to think they were going to hold forever, and so new people would buy it more, and then they could exit at a higher price.

Trust me, anyone posting good or best words are 100% shilling. Real users, like Bitcoin and Ethereum, they actually can be critical of themselves. I criticize Bitcoin like all the time.

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I don't think so and this is not the end of NFT, to be more precise now the situation is bearish and very reasonable with its declining condition and performance, and hearing from several people NFT will also go up when the market enters into a Bullrun state, not only that but there will be many companies large will go into the NFT.

bussybuddy

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According to the OP, that was the reason for the end of the NFT.
I honestly see the point as just the end of the hype about its capabilities in reality. I admit that NFT has brought something new to this market and let more people see the possibilities that it can bring more. Instead of creating limited products and treating them as a tool to run a monetization system, I don't see many projects that make a difference. Some projects have had some success in this sector, but in general we see a throwaway of shoddy work.

Reatim

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Quote from: slaman29 on June 13, 2022, 03:04:05 AM

Quote from: Reatim on June 12, 2022, 06:16:58 AM

Quote from: slaman29 on June 12, 2022, 05:05:46 AM

Hate to say it but no, it's not the end. Some idiots bought back their stolen Apes, so clearly they will still be ready to pour money into NFTs.

I did say for an entire year the bubble will burst and it already probably has, but we've got to understand ICOs never really went away, they just revived under different modus and different names.

Same shit's happening or will happen for NFTs.

Yes mate, Until there are some investors that wanted to shill for any projects that they wanted to blow up? then there will still movement like this so NFT will still progress this year and the next.

But hope that people now will be aware for what to come , because the chance of being Loser is there more than winning if you invest in legit and working currencies .

Not everyone is trying to shill to blow up a project though. Just like ICO days and right now, there are going to be SO many people becoming bagholders with a lot of life savings just tied up and down 80% or more.

So they're going to try and project an image of confidence to get even more people to buy to protect the slide.

People will be people, all looking for quick gains and it's so tempting now in this bear market.

There are maybe not that many but at least Shillers will keep shilling just to Boost their projects or their Holding coins in which for me ? a not so good attitude , because you can only post good or best words for the project you deeply understand and Know , not just because you are holding it or at least bought those coins in presale.

Ararbermas

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@Op stop basing on what's the current situation of NFTs nowadays because obviously we are still in bearish mode, where in mostly crypto in the market are influenced by bitcoin including those have big market cap, so don't be surprised!

And it's impossible to end like this because it still in demand and as long as there's a lot of people and investors supporting NFTs, surely it will last compared to other projects in the market.

Psynthax

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It seems so, the trend has finally faded, I'm sure in the future NFT arts just gonna be valued significantly lower than the current value or even its former value.
The thing that's left I guess is an NFT games, where they have real utilities, unlike the NFT arts that was having zero utilities.
Instead, NFT maybe will be used for more mainstream things like document authentication and the likes, since NFT gonna shine in that regards, the NFT arts on the other hand, just gonna become a small thing I guess.

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Quote from: minhtra on June 09, 2022, 10:11:12 AM

NFT was the talk of 2021. Now if we look at floor prices for all popular collections https://www.coingecko.com/en/nft other than BAYC there is nothing that performs well.
Cryptopunks are down big. Same for azuki, moonbird, coolcats. Collectors are now looking for good fundamentals, but how can NFT give it? Discuss?

This isnt the end at all. The nfts are just starting and this is a set back just for them for the time being. Eth is killing them so far and they need to be a little stable more. With the whole market falling down its normal that the nft prices are falling was aswell. Once market goes up nfts will go up aswell

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Quote from: barbara44 on June 17, 2022, 10:22:36 AM

We haven't seen too much physical world got into NFT have we? I mean I am %99 sure that there must be plenty of shirt companies that already ripped of the designs of big NFT collections and printed all of them, specially the most rare and expensive ones. But that doesn't change the fact that we do not see plenty of people wearing them everywhere. I go out, and see zero NFT's in real life, in shirts, in billboards, in logos, in nothing basically.

It means that the "ownership" of NFT so far has been only "buy it or mint it early, and then sell it when it goes up" and not really nothing else. When people start to "use" it, then we may see it go back up.

That is going to take a while before it could happen. Not saying that it would never happen, but the idea of NFT is basically something digital, so having a physical corresponding to it makes a bit of sense but not too much. This means that we would have to just wait for it to eventually happen. Like for example you could make 10 thousand NFT's in a collection, and also have tshirts for it as well.

Projects that make their NFT's like 500+ dollars, could afford one shirt, each of them have different design of course, and could ship it to anywhere in the world. I guess MAX it could ever cost would be 100$ each shirt, and I doubt it would even that much. Project would still be in profit. Don't know what happens when you sell the NFT and keep the shirt though. Maybe a promotional thing for people who mint, and not just own the NFT and buy from someone who minted it.

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Quote from: hyudien on June 18, 2022, 01:58:55 PM

Quote from: WeedGoW on June 18, 2022, 01:54:39 PM

From your point, NFT buyers can be two kind of people:
Real people want to buy the thing because of greed, thought they could sell it back to other at higher price.
Fake people exist to create a fake demand for NFT, to lure in real people so they can sell their overpriced, worthless NFT.
Truly, the worse kind of scheme exists to pump and dump their stuff since exchange at least provides a form of liquidation and real trade volume if that exchange is reputation enough. This is not the same for NFT cause they value it on the rare, only 1 of the kind bullcrap.

But in fact, we see that is no longer applicable in the market. In other words, NFT will only confuse you to resell it. At least set the lowest price because your purchases have dropped and anyone would avoid such NFT schemes. Nothing looks promising other than the NFT that the artists have. And our role is difficult to reach sales promotion even when the Hype is peaking.

One of the most common mistake of someone is to believe that they could make easy money with just those simple artworks and styles and that's why we've been flooded by hundred thousands of it and turns out that this is something which isn't that worth anymore when it comes on making it as an investment or for long term holds.They do know that they could potentially make money if ever it gets hyped or there sudden interest of the art but as expected on where trends do really have an endline or being over which means never make yourself comfortable on everything you do encounter as an investor.

hyudien

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Quote from: WeedGoW on June 18, 2022, 01:54:39 PM

From your point, NFT buyers can be two kind of people:
Real people want to buy the thing because of greed, thought they could sell it back to other at higher price.
Fake people exist to create a fake demand for NFT, to lure in real people so they can sell their overpriced, worthless NFT.
Truly, the worse kind of scheme exists to pump and dump their stuff since exchange at least provides a form of liquidation and real trade volume if that exchange is reputation enough. This is not the same for NFT cause they value it on the rare, only 1 of the kind bullcrap.

But in fact, we see that is no longer applicable in the market. In other words, NFT will only confuse you to resell it. At least set the lowest price because your purchases have dropped and anyone would avoid such NFT schemes. Nothing looks promising other than the NFT that the artists have. And our role is difficult to reach sales promotion even when the Hype is peaking.

WeedGoW

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Quote from: hyudien on June 16, 2022, 01:17:34 PM

Quote from: 0verseer on June 16, 2022, 12:01:13 PM

Quote from: lienfaye on June 16, 2022, 04:22:09 AM

We are in bearish market, NFTs are not alone being affected in this season. Its not yet over for these projects but lets face the fact that the hype in NFTs were not the same as before. Those who have utilities can survive, otherwise it will be hard to recover. Just like the past hype (ICO for example) the popularity will fade and another trend will replace them. Some investors also prefer to take risk and ride on the current hype to earn quick. Thus its not surprising if NFTs are not what it used to be at this point.

NFT has become something even hated by the crypto community, not just normal people. There is no point in NFT anymore when everyone just wants to sell their NFT to the higher bid. All the cool and rare stuff NFT were just empty promises to hype up the gullible people to dump it. I think this is better so we don't have a ticking bomb that bubbles up the crypto, making situation worse in the future.

Imagine the last NFT buyer and no one else wants to buy it, or the NFT hype is over and has no value in the market. The difference with crypto maybe we can get money back by selling it on the market. Even with the lower return price, at least we can still sell it on the stock exchange. While NFT does not necessarily guarantee to sell the final ownership. Therefore, judging by the benefits, NFT is just a pile of junk from the last, unlucky buyer.

From your point, NFT buyers can be two kind of people:
Real people want to buy the thing because of greed, thought they could sell it back to other at higher price.
Fake people exist to create a fake demand for NFT, to lure in real people so they can sell their overpriced, worthless NFT.
Truly, the worse kind of scheme exists to pump and dump their stuff since exchange at least provides a form of liquidation and real trade volume if that exchange is reputation enough. This is not the same for NFT cause they value it on the rare, only 1 of the kind bullcrap.

Topic: Is this the end for NFTs? - page 2. (Read 560 times)