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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Quote from: ?? on ??

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.

Oasisman

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

Better buy coins, not NFT.

Tell that to those crazy rich people who has nothing to do with their massive excess money, but to create non sense luxuries to sell It to their fellow rich people and then create a hype on the latter so people catches their attention.
That's the secret to every successful business.
Create a name and hype and people will start buying your product, all perfectly the same as those NFT digital arts, they are useless and expensive. I'd rather have an expensive art that dont exist in a digital world for collection purposes.

Psynthax

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I don't know why people these days are seeing NFT as investment but some people are also using NFT as a way to spam non sense picture. What you are saying above totally true and i do agree with it. NFT is only a way to buy an NFT used to do something like playing the game or something else. people are looing their mind. So many people bought useless NFT. NFT is hype shit. Just look at this

https://opensea.io/collection/ghozali-everyday

A few weeks ago people are getting surprised to see that each picture from ghozali worth a lot of money but it gets dumped again. So many people are suffering huge loses.

Mauser

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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 really don't know if NFT is a good investment and buying NFT's right now looks very high risk.

I agree with you that people should do a lot of research into NFTs before buying them, so they understand what they are getting themselves into. NFTs are not Crypto currencies which you can buy and just sell in a second on a exchange. Like you said, there is a lot of risk involved, but this risk doesn't mean it's not worth it to get into NFTs. Rather than looking at NFTs as a some crypto project, I would look at NFTs as art. When buying paintings or other form of art, the market doesn't move very fast. It takes time to match the buyer and seller and the price is very subjective. Also, everybody can buy a fake painting and put it up at home, but there is only 1 original. Same goes for the NFT, everybody can just copy&paste it, but there is only 1 person who actually owns it. As for any investment, we need be aware of the risk involved and there is no guarantee to make a profit.

btc78

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

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.

Like what whales love to do? try to build a project with good reputation and publicity and so they will lure more believers and investors not knowing that there is a trap in front of them , with a Blade waiting to slash their funds and took it from them.

While NFT is booming , the opportunity of this to dump sooner is there.

i have also invested in some NFT but after earning small profit? i dumped them all and now looking form other chances to invest .

Coin_trader

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Quote from: tarable on February 15, 2022, 12:32:55 AM

the investment lies not in the NFT but in the coins. NFT can be regarded as a work of art, whether it be music art, drawing art or other art.
you must be able to distinguish between NFT and coins and you must also know how an investment can be called an investment.

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.

tarable

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the investment lies not in the NFT but in the coins. NFT can be regarded as a work of art, whether it be music art, drawing art or other art.
you must be able to distinguish between NFT and coins and you must also know how an investment can be called an investment.

Protomono

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I see NFT is full of risks, ranging from piracy to manipulating the buying and selling of NFT itself. But many people are now interested in selling NFT because the profits are so large that it is not surprising that there is a lot of rubbish NFT in Opensea. Cryptocurrency and NFT are both full of risk in my opinion, so you need to be careful so you don't lose and lose your investment.

Fundamentals Of

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I agree that NFTs are not a good investment. But it is also true that there are many people who have earned a lot from getting involved in NFTs either by buying and selling or the creation itself of NFTs. But I don't think that NFTs will have a much brighter future. NFTs are basically built on hype. This hype could be likened to the hype on ICO, DeFis, DAO, meme coins, etc. They will not last long. So if somebody is to enter into NFTs, dispose them as soon as profit is made. Don't keep them for long.

yazher

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In my case, I didn't bother to buy any NFTs rather I used it as an opportunity to sell any NFT items in my personal gallery. Never in my thought that I'm gonna buy those expensive animated pictures and hold them for so long before releasing them to the market because I know how fast can people's minds shift to another trend. The Crypto industry is evolving so fast, whatever platforms are trending now, might not be the case in the next year to come. so it's better to stick with the basic rules, buy low sell high.

pushups44

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I agree that as a general rule, and as acknowledged by the social media influencer Gary Vee (at least according to a headline I recently saw), many NFTs, if not most, will lose substantial value in the long run. There is currently a glut of supply and greed among investors, and this typically ends badly. I own some NFTs, but have been careful not to spend too much on them, and many of those I have I got for free. I'd guess certain NFTs will gain in value over time, similar to art or sports cards, while the majority will be poor investments.

TelolettOm

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I cannot say that all NFT is not an investment.
Some NFTs are seriously potential and we know the cocnept behind it. Moroeve rthe NFT with Metaverse.
We can see from what kind of NFT investment is that. Such other crypto projects, some NFTs may have high value and also cocnept behind it. But some NFTs are also shit, only created and sold in the very easy NFT platfomr in order to eanr money without cosnidering the value.
So, I think this may be for some NFT, not all

TastyChillySauce00

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NFT is not become an investment since it was getting created by some developers. Remember that the fact NFT full with manipulation and the price is totally subjective and that means the value is random and there's no clear thing to determine how much the price for any NFT.

Quote from: Flyingjack123 on February 14, 2022, 09:51:23 AM

Recently cent a website which sells tweets as nfts has suspended its services because of plagiarism related issues.
Open sea has also acknowledged high volume of fake and plagialized nfts.
I guess right now there are many scamsters out there in nft market so be vigilant and be safe

If that's true and that's so bad. That reminds me with those who said that copy pasted NFT from the opensea to duplicate bunch of NFT on opensea. People have non sense thing like that. So many fake volume and plagiarized volume. Remember that it can be minted anytime.

mobilestrike

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I was also amazed to see that why people are buying pictures with such a high price. But later I found that there are many projects and games where people are using that and their demand is good in their platforms so those who understand that and know how to process will not hesitate to buy them.

On the other hand there are art of the artists which are becoming worth high then they were from the past when these arts were in physical form. On many art exhibitions people buy the work of artists on millions of dollars.

Yogee

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There are a lot of normal images sold at an unreasonable price like those punks and selfies but there are also good ones. NFT for arts will have a really good market someday.

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.

YodasRedRocket

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

crzy

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Quote from: ?? on ??

If you don't understand the concept and what it entails it is okay to move to other projects of your understanding but don't make a public cry over something you have no idea of, while you are here raising alarm others are profiting from it,
Good thing there are other options, you can always choose what you are comfortable with.

Definitely right, you can’t force anyone to hate what you hate, they see opportunities in NFTs then so be it. Spending Millions on NFTs is nothing for them, I’m pretty sure they are already in profit now. We all know the end is still far for NFTs, this is still a new trend and if there’s a new one, most probably NFTs will stay to compete and that can happen in the next decade.

isaac_clarke22

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Quote from: asriloni on February 13, 2022, 05:59:08 PM

~

My colleagues are considering NFTs as investment just because their value grows overtime even if it was just another in-game item in a NFT game. It's quite common here in my country to stumble upon those stuffs and heck they're even hunting for more NFT games to buy some more items at and keep grinding the hell out of whatever that game is/was.

tyz

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

Better buy coins, not NFT.

I see it similarly! The high priced NFTs are a Ponzi scheme. As long as people are interested in paying even more, it works, but at the latest when now the interest rates will be increasing all over the world and the FED reduces its balance sheet, there will be less money left for such nonsense and then some people owing such NFTs will lose a lot of money.

Yaunfitda

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As you have said, this is the current hype so obviously, investors are going to flock their money on NFT. This is how the altcoin market moves, when there is a new trend, everyone wanted to get onboard and make money out of it. Of course, this is a game, when someone is making money, there is also someone going to lose. It's just a matter on where do you want to position yourself in NFT's right now. Everyone has a choice that's why we always said, do your own research (DYOR).

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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.

Your statement alone can't change everyone's mindset here. I disagree about stopping to buy NFTs. We have our own choices here, and it's our own risk to take. So if we choose to buy NFTs, then we have to accept the fact that it's considered "dead money", and we're just lucky if someone is actually buying it.

If I were to buy NFTs, I would choose something that has long-term real use cases and fundamentals like the play-to-earn games where your characters, weapons, skins, etc., can be much more valuable overtime (especially if you are one of the early adopters).

mirakal

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Not only NFT, but any investment in the crypto space, you need to know when to get out as it's important to ensure profit. NFT's are popular due to hype, however, there are still some profitable projects now so overall it's not really bad investment, it's only bad if we don't know how to choose the right project that will make us profitable.

Thanks for your advice, that would certainly make newbies curious and they'll do more research before investing.

JooBra

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Quote from: Flyingjack123 on February 14, 2022, 09:51:23 AM

Recently cent a website which sells tweets as nfts has suspended its services because of plagiarism related issues.
Open sea has also acknowledged high volume of fake and plagialized nfts.
I guess right now there are many scamsters out there in nft market so be vigilant and be safe

Well people need to understand that most NFTs need to have some purpose and that they bring something to you by owning it.

Flyingjack123

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Recently cent a website which sells tweets as nfts has suspended its services because of plagiarism related issues.
Open sea has also acknowledged high volume of fake and plagialized nfts.
I guess right now there are many scamsters out there in nft market so be vigilant and be safe

Al Qiyamah

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

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.

I will do as you say if I have a lot of money. I really don't understand art, let alone art that doesn't make sense to me like some of today's NFTs at insane prices. I'd better buy Bitcoin or ETH for the future, because I'm sure once this NFT hype fades people will also switch from NFT.

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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.

To be honest these days people are even randomly uploading any picture to the opensea to be sold as NFT. they have no clue about how NFT works these days.

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 really don't know if NFT is a good investment and buying NFT's right now looks very high risk.

Only people who didn't understand NFT art correctly are using it as investment. I do believe most of those art who valued millions are being used as money laundry. NFT art was totally a useless thing. It has no value and utility and it's just selling the art.

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

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.

Selling NFT was not an easy task to do. You need to find buyer for your NFT and if you can't and then just hodl your NFT forever in your wallet.

kotwica666

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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.

Personally, I don't understand the NFT phenomenon. It's a very interesting application of blockchain technology to maintain value in the form of electronic works of art, but in my opinion it is all overpriced. I think the NFT will never go away, but its popularity will decline and will stay around similar to interest in collecting cards with athletes.

tabas

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It's the rich's game. They can do whatever they want with that money of theirs and I don't think a pleb like me is into NFT. Maybe an NFT game where there's a reward.
But for those pieces of artwork, it's entirely a different passion when it comes to collection. We may not understand how it feels to be a collector or a lover of art. Since it's associated with investing and value bringing, there's now the collaboration of being passionate about it and as an investor. Well, being an investor alone, we do agree that it's not for us who don't see that we'll be benefiting from it.

asriloni

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Who in the hell consider NFT as an investment? NFT was not liquid and you will be so difficult to sell once you need urgent money and that's different with the token as this is become liquid and it can give you money anytime once you need urgent money. NFT can be considered as a way to get unique item or art. NFT is not strong enough to be used as investment consider how difficult when it comes to the liquidation.
If your NFT has no demand and that's the end for you. So many people are wasting their money without knowing about the risk that already faced by all of them. I just try to remind that if this time NFT looks like a way for the developers to sell their non tokenization asset.

Master of Shitcoins

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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.

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