NFTs are actually more than just about art.
They are basically about community, hype and the right mix of exclusivity and distribution. Look at the topmost NFTs like Punks and BAYC. I don't know if i'd call them art exactly. Cryptopunks have the benefit of bein completely on-chain but BAYC is just an old boys' club. It derives its value from who holds it. Similarly, most NFT projects depend on the hype around them and the people supporting them.
True utility is a long way off. The NFTs will continue to make some people richer than others but just like ICOs, these run-of-the-mill NFTs will crash and vanish.
Topic: Much of the NFTs in the cryptospace will die (Read 131 times)
I speculate that only NFTs with real art from known artists might be the only the types that might hold and also increase their value. Much of the others similar to cryptopunks and bored apes will die similar to the ICOs of 2017, I reckon.
It's a simple truth and had only thought NFT will only be fertile for works of value, -excellent, work of prominence, rare or from someone that is well known- I was on the phone with a knowledgeable friend talking about memecoins and what it's doing after I was researching wakanda coin and he pointed out rave that has come into crypto-currency for a period and fell and NFT was one of those types we discussed about.
This will definitely happen and can't be avoided because if you look at it, NFT is already overhyped and will definitely be misused by some parties.
for example, cases of manipulation with NFT purchases made by colleagues some time ago and more and more useless NFT projects.
this will indirectly make the NFT self-destruct and very difficult to recover if things like this are left unattended
for example, cases of manipulation with NFT purchases made by colleagues some time ago and more and more useless NFT projects.
this will indirectly make the NFT self-destruct and very difficult to recover if things like this are left unattended
Announced Tuesday, the award-winning director and writer is auctioning off seven uncut scenes from “Pulp Fiction” as nonfungible tokens, also including original handwritten scripts from the film and exclusive audio commentary from Tarantino himself. The collectibles will be auctioned on NFT marketplace OpenSea.[/i]
Oh wow, it seems like NFTs really got popular this year, also with "ordinary" artists and content creators. I am still sceptical how this will be sustainable in the long run, but I agree with you that most of the projects will disappear and become worthless. Graphic artists have completely shifted to NFT since these artists actually gain more profit than they used to before, meme NFTs on the other hand (I suppose they call it that way) tend to die and lose its value after the hype is gone, meanwhile, for graphics or paintings that are exerted with skill and effort will definitely last for a while, I'm not much going to invest in buying NFT art but I definitely think in a general standpoint it seems to be worth investing for, just make sure it doesn't loses its value before you actually buy it.
You are not going to invest in NFT because in the first place you never see its market potentials and it can be the same as what the others see to them.ICO, IEO, DEFI, are ended in a short while after another set of projects comes out. I don't want to think bad but this could possibly happen with the NFT projects and after being in hypes, they'll be about to start crashing and be gone forever. Honestly, only the makers of this project are benefiting from this. May some early investors are into that position but I'm afraid for the latecomers.
Graphic artists have completely shifted to NFT since these artists actually gain more profit than they used to before, meme NFTs on the other hand (I suppose they call it that way) tend to die and lose its value after the hype is gone, meanwhile, for graphics or paintings that are exerted with skill and effort will definitely last for a while, I'm not much going to invest in buying NFT art but I definitely think in a general standpoint it seems to be worth investing for, just make sure it doesn't loses its value before you actually buy it.
I think that only NFTs with interesting stories under them are likely to survive and be considered valuable among collectors. Also NFTs that represent different things in games will remain popular. Other millions of NFTs will depreciate and settle on someone’s wallets
On the other hand, I think that NFTs will perform functions other than just tokenized pictures, so we will use them for other cases.
On the other hand, I think that NFTs will perform functions other than just tokenized pictures, so we will use them for other cases.
Crypto has been filled with bullshit by this ridiculous stuff, I really hope that many NFTs like cryptopunks and monkeys will die like ICOs of 2017.
These things are a distortion of true art and aesthetic values. I don't know how people buy these things for millions of dollars??!! I'm not convinced of this, maybe it's for money laundering or something, I don't know! But I think it's time to clean Crypto out of this stuff and use NFT in the right way, there must be strict rules for accepting NFT so that the markets are not filled with this worthless stuff.
These things are a distortion of true art and aesthetic values. I don't know how people buy these things for millions of dollars??!! I'm not convinced of this, maybe it's for money laundering or something, I don't know! But I think it's time to clean Crypto out of this stuff and use NFT in the right way, there must be strict rules for accepting NFT so that the markets are not filled with this worthless stuff.
I speculate that only NFTs with real art from known artists might be the only the types that might hold and also increase their value. Much of the others similar to cryptopunks and bored apes will die similar to the ICOs of 2017, I reckon.
True to that because it will be the true artist that will be recognized by the people. It's like purchasing real art from them and with a sign that you own it.Unlike random stuffs that has just been made because of the craze of NFTs, they've thought that every single piece of art even coming from nobody can have value. Actually it happens and we're going to see that more of them be more valuable if people will start to buy legitimate arts from real artists.
Agreed. Also, one the biggest reasons why much of these NFT art have sold for very high prices might be because of wash trading. Have you noticed that the biggest shillers of NFTs are crypto influencers? I would not be very surprised if they bought the NFT of each other.
The market is not an infinite cake.It has a limit, only the substances that should be needed, and the rest are either discarded or destroyed. Once the heat is over, it will naturally return to normal.
When ICO's are the thing last 2017, there are so many projects emerging. Many of them ended up as a scam. Many of them ended up as a dead coin or abandoned coin for some reasons like lack of community.
There is also a time where DeFi's are a hype. There are many new projects emerging but this hype didn't last long like in ICO and right now in NFT's. Same thing. Many ended up a rug pull. Many ended a dead project.
Same will happen to NFT and it will be the same if there will be a new hype that will come in the cryptospace. NFT hype is starting to decrease already. Whether it is an NFT art or NFT that is coming from different games that are becoming popular right now, most of them will die. It's only a matter of time before this will happen.
There is also a time where DeFi's are a hype. There are many new projects emerging but this hype didn't last long like in ICO and right now in NFT's. Same thing. Many ended up a rug pull. Many ended a dead project.
Same will happen to NFT and it will be the same if there will be a new hype that will come in the cryptospace. NFT hype is starting to decrease already. Whether it is an NFT art or NFT that is coming from different games that are becoming popular right now, most of them will die. It's only a matter of time before this will happen.
Most NFTs are just made up shit, no real value to the world but only hype by names or just for the sake of oh it's NFT, people needs to be extremely careful, till date I have not invested in any NFT projects just because of lack of clear understanding of the whole vibes
Now there is a mad speculation on this type of resource. I believe that, with proper support, it can give a good price and value to the world. So far, this is only a speculative resource where the cost is determined by the cost of the commission and the name of the one who creates it.
I also foresee that coming which the NFT that actually are not hyped like the pixelated images might not work in the future which they may one day be worthless. If you just know how people look at it today, showing how a pixelated picture to a boy will make them frown, they are very much uninterested in it. The one that may survive is the ones that artist really put hard work into it.
I'm a fan of Quintin Tarantino. This is the first NFT with its script on it I guess. That's unique. If this is going to be making money, producers like him will probably do the same even include the cut scenes (banned scenes).
I'm a fan of Quintin Tarantino. This is the first NFT with its script on it I guess. That's unique. If this is going to be making money, producers like him will probably do the same even include the cut scenes (banned scenes).
I speculate that only NFTs with real art from known artists might be the only the types that might hold and also increase their value. Much of the others similar to cryptopunks and bored apes will die similar to the ICOs of 2017, I reckon.
True to that because it will be the true artist that will be recognized by the people. It's like purchasing real art from them and with a sign that you own it.Unlike random stuffs that has just been made because of the craze of NFTs, they've thought that every single piece of art even coming from nobody can have value. Actually it happens and we're going to see that more of them be more valuable if people will start to buy legitimate arts from real artists.
As the famous artist will take their step on entering the Metaverse, the NFTs that hasn't been known to others or have some unknown artist. When you go to the list of arts that they offering, it ranges thousands of NFTs that has been created and their price is not cheap. You really need to consider to look for the NFT that will give you profit in the future so that you can take advantage of it.
If you look on this site you will see their price and you won't be thingking to play around when you buy one of them with that kind of price.
https://rarity.tools/upcoming/
If you look on this site you will see their price and you won't be thingking to play around when you buy one of them with that kind of price.
https://rarity.tools/upcoming/
If we take your theory, it gives value to the owner of art and not to the art itself, for example, if Leonardo Da Vinci uses the pencil to draw an aesthetic image, does this mean that the pencil will earn its value?
The same will be for NFT tokens if known artict use it and it have a value it doesnt mean that NFT has that value.
This doesnt mean that NFT will be like ICOs
The same will be for NFT tokens if known artict use it and it have a value it doesnt mean that NFT has that value.
This doesnt mean that NFT will be like ICOs
Do you have a pencil that was really used by Leonardo Da Vinci? You should try putting that on auction. I am very much certainly very certain that it would be auctioned to more than $100,000. I am very sure of this.
I am also quite certain, similar to ICOs, much of these cryptopunks and bored apes will be dead or will have -90% of their present value in 3 years. I want you to remind me in 3 years about this reply.
If we take your theory, it gives value to the owner of art and not to the art itself, for example, if Leonardo Da Vinci uses the pencil to draw an aesthetic image, does this mean that the pencil will earn its value?
The same will be for NFT tokens if known artict use it and it have a value it doesnt mean that NFT has that value.
This doesnt mean that NFT will be like ICOs
The same will be for NFT tokens if known artict use it and it have a value it doesnt mean that NFT has that value.
This doesnt mean that NFT will be like ICOs
This is inevitable. We can see millions of nft being drawn everyday and some of them are started to be forgotten. People tend to buy what's new. What happened to those who are old nft are either it could be growing like famous nft or die out in the process.
I believe especially those made by unknown developers or artist that has been spamming opensea and other nft marketplace will be down soon.
I believe especially those made by unknown developers or artist that has been spamming opensea and other nft marketplace will be down soon.
I speculate that only NFTs with real art from known artists might be the only the types that might hold and also increase their value. Much of the others similar to cryptopunks and bored apes will die similar to the ICOs of 2017, I reckon.
Quentin Tarantino to offer seven uncut scenes from ‘Pulp Fiction’ as NFTs
Quentin Tarantino is breaking into NFTs.
Announced Tuesday, the award-winning director and writer is auctioning off seven uncut scenes from “Pulp Fiction” as nonfungible tokens, also including original handwritten scripts from the film and exclusive audio commentary from Tarantino himself. The collectibles will be auctioned on NFT marketplace OpenSea.
Source https://www.cnbc.com/2021/11/02/quentin-tarantino-to-offer-seven-uncut-scenes-from-pulp-fiction-as-nfts.html
Quentin Tarantino to offer seven uncut scenes from ‘Pulp Fiction’ as NFTs
Quentin Tarantino is breaking into NFTs.
Announced Tuesday, the award-winning director and writer is auctioning off seven uncut scenes from “Pulp Fiction” as nonfungible tokens, also including original handwritten scripts from the film and exclusive audio commentary from Tarantino himself. The collectibles will be auctioned on NFT marketplace OpenSea.
Source https://www.cnbc.com/2021/11/02/quentin-tarantino-to-offer-seven-uncut-scenes-from-pulp-fiction-as-nfts.html
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