Is this the end for NFTs? - page 5. | Bitcointalksearch.org

wheelz1200

legendary

Activity: 3780

Merit: 1418

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?

NFTs were always just a pyramid scam. Terrible art so don't give me that. People bought in hopes they could sell it higher that's all. They literally are the beanie babies of crypto. Will be a funny story to tell in about 5 years that's about it. Now the use of nfts will expand and have a use case but these "art projects" are all ways for the creators to get rich that's all.

WalkerIVIV

hero member

Activity: 2436

Merit: 503

Cryptocasino.com

People have no intention to buy NFT anymore during the bearish market. They are watching market everyday and im sure they are also feeling bad with the market with bitcoin that was going so deep again and again. We have seen so many people forgot the existence of NFT.
I see that so many NFT projects have been loosing a lot of price during the bearish season. So people will try to go in the NFT project once market will better than this time.

Psynthax

hero member

Activity: 2366

Merit: 504

its in bearish so it's normal that most of the NFT are currently having a bad performance, their value goes down because I guess anyone that invests has their priority liquidating their NFT that hardly could ever get liquidated.
after all, these NFTs that you mentioned are honestly overpriced. it just doesn't deserve that much valuation for such simple arts. instead they are now having its real value shown, I'm more surprised if these NFTs could ever retain its former valuation again in the future even if bullish occur once again, NFT arts are like trend that fades too fast.

Oceat

sr. member

Activity: 2506

Merit: 368

When the bull run NFT prices just follow and I think this is how they do it just like how they do it during on ICO era, they just dump everything just to get the profit they want even if it's a losing game some of them just sold it already. But there are still who keeps holding thinking they would still have a chance to make profit from it but in reality it won't be happening again unless if it's a bull run. Plus it's not really that they were a thing, people just buy it because of the trend and now the trends end how can they skip the holding part when almost everyone is selling and not to mention some of it are useless.

Xal0lex

staff

Activity: 2436

Merit: 2347

NFT hysteria is gone. When marketplaces were flooded with a pile of unnecessary NFT tokens, and famous collections were sold for fabulous money, it was all on a wave of hype, which ended along with the bull trend. Now NFT as a speculative asset, no one is interested because the industry is saturated with projects and their tokens, which were overpriced.

I think, in the future there will be only known and interesting projects, and all the junk that is more than 86% of the market will die out finally. There will be punks, ape boards, cryptokittys, etc., as well as famous collections of public people, but they will no longer be worth millions of dollars that they were originally asked for, because it's all a trivial crypto bubble that had to burst sooner or later.

minhtra

jr. member

Activity: 79

Merit: 2

What will big companies do with NFT, will people realize and buy them or there is not enough reasons to do so

ItsCrafty

full member

Activity: 826

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Tontogether | Save Smart & Win Big

NFt trend is not over. Many big companies are entering in NFT. Mastercard issue their service for NFTs buy and now master card holder will buy NFT directly using card. This is very big News for NFT and in future we may see another best payment method like PayPal etc.

JeffBrad12

hero member

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Leading Crypto Sports Betting & Casino Platform

It's not yet the end of NFT. This situation was a common thing when bearish market is still happening. People worry to speculate into the NFT, defi or another altcoin product. people prefer to hodl their money in their wallet. The good fundamental was coming when NFT has utility for the holders but the fact that if only a few platforms that were able giving utility to the NFT that already issued. The rest were pure only following the hype and so if there would be some NFT become worthless and i would not be surprised to see that.
Only NFT with real utility that can survive during the bearish trend like this time.

minhtra

jr. member

Activity: 79

Merit: 2

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?

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