NFT's are not a good investment, better get out ASAP

eaLiTy

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Quote from: Master of Shitcoins on February 13, 2022, 04:14:07 PM

NFT's are unique pictures stored on a Blockchain and it gave a big hype around NFT's so far.

But please do your own research what is a NFT. It is just a picture stored on a blockchain and every day new pictures are launched.
It is not really scarce when always new collections are launched.

NFT is not just pictures you can store in the blockchain. You can store music, words anything and the options are much bigger. Always go for licensed NFT from artist which are rare and there are projects that launches NFT that can be used in the metaverse and can be used in the games they launch. So it is much bigger than what you think about them.

The hype died down, but good projects will always shine in the future.

Flexystar

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Hmm, you saying what you saying and that might be correct but not always. Though NFT getting screwed now and then but we have to agree they are valued and valued a lot since the beginning. Though they could be risky with time they are here to stay for as long as the investors ready to buy them. Plus I also find it intriguing that NFT are one of the ways to do money laundering. I mean there been lot of stories so what we can say about it. Moreover, similar things used to call about bitcoin or altcoins and so on. I think every asset is like this. First we call it good investment opportunity, then we go on some doubts and then at the end of era it’s just bad. So the cycles always gonna be there.

tyz

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I can only urge any NFT investor to watch the following parody from Youtuber Joma about NFT investing. I think this parody gets to the heart of the matter. Only the very first really make money with NFTs. Anyone who comes a little later is the loser.

https://www.youtube.com/watch?v=JgdP7oWP0_0

maydna

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Quote from: LUCKMCFLY on February 20, 2022, 10:07:35 AM

Quote from: maydna on February 15, 2022, 08:47:06 AM

NFT is not a good investment. NFT is a way to make money for those who understand using NFT. If people only follow others by selling NFT and hope that they can sell some stuff at the market without knowing how they can use NFT properly, they will not be able to sell anything instead of showing their stuff. If those people want to invest, they can choose bitcoin or other coins.

But I admit that NFT can get attention from people, and many can sell it on the market. Perhaps, this NFT will stay here for a while to invite more people to use it.

Well, actually, looking at NFTs from the point of view of games, it has been the worst thing they have been able to implement, in fact, a gaming NFT has little confidence in investors, particularly I think that I do not have much knowledge of NFTs in art. , but it is a way to immortalize it, through an NFT I do not see that it is something bad, I do not see it as a scam and the best thing is that each person gives it the value that they think corresponds to it, however it should be noted that they come the metaverses and obviously the NFTs will have a share whether they like it or not, they will get involved in technology to emerge, I hope that by that time they will be able to control their internal economy and not become a scam.

But sadly, many of them want to get involved in NFT without learning what they should be doing. They are tempted by the amount of money that other people have earned, so they compete in uploading their work and hope that their work will sell for a high price. If they can learn what NFT is and how to use NFT properly, they will not fall into scams, and in fact, they can sell their work to many people and make money from NFT.

Fivestar4everMVP

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Quote from: Master of Shitcoins on February 13, 2022, 04:14:07 PM

NFT's are unique pictures stored on a Blockchain and it gave a big hype around NFT's so far.

But please do your own research what is a NFT. It is just a picture stored on a blockchain and every day new pictures are launched.
It is not really scarce when always new collections are launched.

Over time, only very few people will buy such pictures and NFT's will get very hard to sell because nobody wants to buy old NFT's in a few years. Why should someone still pay high prices for such pictures?
I really don't know if NFT is a good investment and buying NFT's right now looks very high risk.

It might be better to get out ASAP and sell all NFT's.
It is much better buy coins because coins will have a high demand later. Coins will always be required in Blockchain interactions, especially big and scarce coins. Only scarce coins like Bitcoin are a good store of value.

Better buy coins, not NFT.

From my own personal experience with NFTs, I don't really know if I should agree with you or not, but my experience with NFTs most especially on the Ethereum network has not been pleasant, what I know is that, I've gathered a lot of NFTs, but I've not been able to sell any, Ive potentially lost about 0.6 eth on NFTs I bought on Ethereum network way back in 2020 when the network fee was still minimal, this NFTs include crypto kitties, dego finance NFTs, I bought all this NFTs but I've not been able to sell any of it since 2020 up till now due to high network fees, the fees to even place them on sell is way higher than the NFTs worth, for this reason, I've forgotten about them, I call it potentially lost investment because I might never be able to sell them.
Coming to bsc network, I've gathered some NFTs on BSC network too, but I didn't buy any, I got them all for free, through trivia and some others through bounty, I've not tried selling any of it, but am hoping it doesn't end up like the ones I got on Ethereum network.

LUCKMCFLY

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Quote from: maydna on February 15, 2022, 08:47:06 AM

NFT is not a good investment. NFT is a way to make money for those who understand using NFT. If people only follow others by selling NFT and hope that they can sell some stuff at the market without knowing how they can use NFT properly, they will not be able to sell anything instead of showing their stuff. If those people want to invest, they can choose bitcoin or other coins.

But I admit that NFT can get attention from people, and many can sell it on the market. Perhaps, this NFT will stay here for a while to invite more people to use it.

Well, actually, looking at NFTs from the point of view of games, it has been the worst thing they have been able to implement, in fact, a gaming NFT has little confidence in investors, particularly I think that I do not have much knowledge of NFTs in art. , but it is a way to immortalize it, through an NFT I do not see that it is something bad, I do not see it as a scam and the best thing is that each person gives it the value that they think corresponds to it, however it should be noted that they come the metaverses and obviously the NFTs will have a share whether they like it or not, they will get involved in technology to emerge, I hope that by that time they will be able to control their internal economy and not become a scam.

avikz

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NFT platform Cent recently announced the close down of their NFT marketplace. Read the news here,

https://www.reuters.com/business/finance/nft-marketplace-shuts-citing-rampant-fakes-plagiarism-problem-2022-02-11/

NFT is a hoax! It will die a painful death for sure and erode billions of dollars from the investors pocket. So get out of it and invest in good coins. NFT can't make you rich, rather it can erode your existing portfolio value!

fzkto

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Of course NFTs are a bad investment. Soon it will start to fade away, as it did with ICO or IDO. The hype for all these collections and pictures will end and their value will go to zero. But the idea and technology will remain and will be useful, like copyright for music or some things. But buying some pictures now for the purpose of holding them is crazy.

D ltr

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it's better to buy coins than NFT because NFT is just a collection of pictures or photos of people, in my mind
but for art lovers NFT is a normal thing to develop their thoughts and works
People's views on NFT and crypto coins are different, where everyone has a choice, and they decide which one they choose NFT or COIN

ethereumhunter

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Quote from: ?? on ??

First time Opensea launching to public full of art drawing picture sell there, but now I see not any art publish on Opensea with many not any art style drawing picture success sold with crazy price, latest maybe if any one remember with NFT Ghozali I think not any beautiful art with his picture, I am not jealous with how much sold his picture but just not have good function on Opensea right now after many bad picture sold there with low quality.

That's because people nowadays just follow the current trend without learning how to make NFTs or sell their work on Opensea. It will all end sooner or later and the people who just follow the trend will disappear and the trend will change.

Opensea is a free market where people can buy and sell their works but they also need to know what to prepare before going there. In addition, it also takes time for items at Opensea to be sold and that can be a long waiting time for them.

YodasRedRocket

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Quote from: YodasRedRocket on February 14, 2022, 05:07:11 PM

I can’t see myself ever investing in NFT’s. I don’t see the value 🤷🏻‍♂️

May I ask why? The description of the main post of NFTs are limited to pictures but there are other markets that adopted it like P2E gaming.
[/quote]

For investment purposes, I see no long term value. I could be as wrong as many early bitcoin deniers but I don’t think so.

LastKiss

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Quote from: Master of Shitcoins on February 13, 2022, 04:14:07 PM

NFT's are unique pictures stored on a Blockchain and it gave a big hype around NFT's so far.

But please do your own research what is a NFT. It is just a picture stored on a blockchain and every day new pictures are launched.
It is not really scarce when always new collections are launched.

Over time, only very few people will buy such pictures and NFT's will get very hard to sell because nobody wants to buy old NFT's in a few years. Why should someone still pay high prices for such pictures?
I really don't know if NFT is a good investment and buying NFT's right now looks very high risk.

It might be better to get out ASAP and sell all NFT's.
It is much better buy coins because coins will have a high demand later. Coins will always be required in Blockchain interactions, especially big and scarce coins. Only scarce coins like Bitcoin are a good store of value.

Better buy coins, not NFT.

It's true this hype makes people lose their money in just a mere picture lmao, good quality of NFTs should be like music or rare art, not some people and take a picture then it sold for millions. If something like that I smell money laundering in NFTs. But when someone can use this hype properly and earn money from it then why not right.

adzino

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I am have nothing against nor am I a huge fun of NFTs They are new and still the best use cases hasn't been discovered. But there are few things that you mentioned seems to be wrong about NFT.

Quote from: Master of Shitcoins on February 13, 2022, 04:14:07 PM

NFT's are unique pictures stored on a Blockchain and it gave a big hype around NFT's so far.

But please do your own research what is a NFT. It is just a picture stored on a blockchain and every day new pictures are launched.
It is not really scarce when always new collections are launched.

NFTs aren't just only "pictures". They can be anything. They are scarce as long as unique and only one of a kind NFTs are minted.

Quote from: Master of Shitcoins on February 13, 2022, 04:14:07 PM

Over time, only very few people will buy such pictures and NFT's will get very hard to sell because nobody wants to buy old NFT's in a few years. Why should someone still pay high prices for such pictures?

Wouldn't "older" pictures be more rare and cost more? The older it is the more people will want to buy. This is how it usually works. The newer ones are also cheaper until they age.

Quote from: Master of Shitcoins on February 13, 2022, 04:14:07 PM

Over time, only very few people will buy such pictures and NFT's will get very hard to sell because nobody wants to buy old NFT's in a few years. Why should someone still pay high prices for such pictures?

I thought they buy NFTs not as an investment but to showoff their wealth and to "uniquely" own something?

wheelz1200

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Quote from: Master of Shitcoins on February 13, 2022, 04:14:07 PM

NFT's are unique pictures stored on a Blockchain and it gave a big hype around NFT's so far.

But please do your own research what is a NFT. It is just a picture stored on a blockchain and every day new pictures are launched.
It is not really scarce when always new collections are launched.

Over time, only very few people will buy such pictures and NFT's will get very hard to sell because nobody wants to buy old NFT's in a few years. Why should someone still pay high prices for such pictures?
I really don't know if NFT is a good investment and buying NFT's right now looks very high risk.

It might be better to get out ASAP and sell all NFT's.
It is much better buy coins because coins will have a high demand later. Coins will always be required in Blockchain interactions, especially big and scarce coins. Only scarce coins like Bitcoin are a good store of value.

Better buy coins, not NFT.

Agreed, it's a cash grab fad and unsustainable at these prices. Most nfts are not fairly released or fairly minted we are finding out, and even the ones that are I wouldn't even call it art that people are putting out there. Keeping my money in crypto and avoiding the nft craze..

bitkanu

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Quote from: 7deadlyBTCIN on February 15, 2022, 08:36:30 AM

at this point I even prefer to invest in new tokens and meme coins over NFT, if there will be a painful bear market tomorrow NFT will be the cause behind it, people don't understand what they are investing money on.

At least meme token can be illiquid when it has liquidity and any trend that happened in the NFT will be gone so fast and it's even faster than meme token. it needs only a few weeks for the NFT trend to be dumped to the bottom again. That being said that when we seeing NFT as an opportunity and this caused by the hype on it but it's not about the fundamental on NFT. If this is related to the NFT art and this is the worst thing to be considered as investment but remember that NFT has so many kinds and we need to make sure if we are picking the right NFT.
NFT art is worst.

tarable

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NFT is just a new concept that is applied to the crypto space to be able to distinguish between old concepts and new concepts so that it can unite more people into the crypto space such as artists, creators, and also certain artists, because NFT is a connecting service to all those who used to be outside the crypto space.

I call NFT as the work of crypto enthusiasts that the crypto space is able to give birth to something that is able to develop according to technological developments.

Quote from: Coin_trader on February 15, 2022, 05:31:00 AM

NFT is a wrapped token so technically its still a token so the NFT itself is your investment when buying it. The art/image/music is just attached to token during the process of minting that makes it an NFT that we all use for collection. NFT in general is a safe investment because its a digital art so it will not gonna expire or damage by holding it. The only danger in NFT are those price manipulation of whales just to hype the value of a certain NFT collection like cryptopunks and apes which doesn't make sense why it sells insanely high.

your explanation is correct and what's interesting about your explanation is that NFT is safe to hold and what's scary about NFT is price manipulation by whales. it is for this reason that many people worry that NFT is not the right choice apart from the top coins in investing. In my opinion, as long as the hype or trend of NFT is still good, it's certainly not a problem at all.

maydna

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NFT is not a good investment. NFT is a way to make money for those who understand using NFT. If people only follow others by selling NFT and hope that they can sell some stuff at the market without knowing how they can use NFT properly, they will not be able to sell anything instead of showing their stuff. If those people want to invest, they can choose bitcoin or other coins.

But I admit that NFT can get attention from people, and many can sell it on the market. Perhaps, this NFT will stay here for a while to invite more people to use it.

masterrex

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IMO, I think the author has missed something about NFT's because he mentioned and considered them as an investment when it's not, NFT's stand as Non-Fungible tokens it is a kind of digital art and can be considered as an asset or a property that can be sold in the NFT marketplace and because NFT's was stored in Blockchain that's why it was easy to find it just for the records, Anyway, NFT's are more just like collectibles rather than an investment.

7deadlyBTCIN

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No liquidity and no volume so yea it's stupid to consider NFT as a safe investment, at this point I even prefer to invest in new tokens and meme coins over NFT, if there will be a painful bear market tomorrow NFT will be the cause behind it, people don't understand what they are investing money on.

Anonylz

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Am only observing the nft trend for now, what it will become in the future is uncertain to us, if this trend is shit like the op claim, several big gaming and non gaming companies won't be joining the space to create their own ntf, it is a new trend to make money and also has the possibility to be an important part of the crypto space especially when it is relating to gaming and p2e. we still have projects from previous trends that are still available that hasn't disappear despite what people say, i guess time will tell where the ntf trend is heading.

Topic: NFT's are not a good investment, better get out ASAP (Read 363 times)