Topic: NFTs in the Real World (Read 637 times)
I think if it is connected to the digital world, then land, houses, vehicles and others are NFT assets in the real world, and people buy and sell them, but in the real world these items have a function, so they are always used and needed.
I still don't understand why a .jpg extension image is so hyped. The hype is not even dried down in 2023 as earlier it was being speculated that NFTs won't be in business for long term. I did not follow any projects when it came in existence and I am not following any project now. My friends are still into NFT and as per their saying its hype won't go down. Not sure about the real world usage.
the case is if it has a use like in a game, character or land, it still has a use but if it is just a display I also doubt what makes those nfts desirable, I mean just put money on the image and the value will go up, of course not, most of them dead.
I don't have any wild experiences outside of gaming and art like you said, or is holding an NFT for a collection until it has no price a wild experience? 
i have some nfts that i collect and the price dropped almost 100%
i have some nfts that i collect and the price dropped almost 100%
That's exactly what happening right now some people are facing charges due to the promises they made when they sell those NFTs and they are facing multiple charges because of it. Just like what most investors said in its earliest days, this trend will be subsided and eventually forgotten because there are lots of popular investment platforms that are being made throughout time while bitcoins and other cryptos are becoming popular in other countries and also in some big companies.
I don't have any wild experiences outside of gaming and art like you said, or is holding an NFT for a collection until it has no price a wild experience?
i have some nfts that i collect and the price dropped almost 100%
i have some nfts that i collect and the price dropped almost 100%
Previously, the existence of non-fungible tokens or NFTs was a trend and they were competing in this space and a number of collectors also believed that this would be the next era of NFTs with the benefits they presented. Very enthusiastic.
For me personally, I may not just be focused, but I'm also following developments this year to see if there will be hype like last time.
For me personally, I may not just be focused, but I'm also following developments this year to see if there will be hype like last time.
I understand what you mean and if you were to ask me I think the main attraction of NFTs is not really as pieces of art or as a proof of ownership, but as vehicles for some people to launder money.
As with NFTs, those people can just create a bunch of NFTs and buy them with their own money, this creates the illusion that a transaction has taken place and they can declare those profits to the tax authorities of their country and make that money legal, when in fact no transaction took place as they just sold those NFTs to themselves.
As with NFTs, those people can just create a bunch of NFTs and buy them with their own money, this creates the illusion that a transaction has taken place and they can declare those profits to the tax authorities of their country and make that money legal, when in fact no transaction took place as they just sold those NFTs to themselves.
This is a very interesting opinion about the use of NFT in money laundering. But what about the fact that own NFTs should be evaluated by an independent party, because when checking the transaction by an interested party, they may ask the question - why exactly such an amount was paid for them?
But things are worth whatever someone wants to pay for them, so even if a bunch of experts declared that the value of all NFTs was zero, if there is a market for them they will keep selling, giving those that want to launder money this way the perfect excuse to do it.
The possibility of establishing a market like that is completely gone, when NFTs were first introduced this is the first thing that came to my mind, since an artist that expresses their art mainly through a digital media does not have the advantages of those that use more traditional methods to create their art.
NFTs seemed like a great way for those people to monetize their talent and for collectors to finally become capable of fully owning a digital image, but scammers ruined the reputation of NFTs, and now I doubt there is anyone interested in collecting art this way.
NFTs seemed like a great way for those people to monetize their talent and for collectors to finally become capable of fully owning a digital image, but scammers ruined the reputation of NFTs, and now I doubt there is anyone interested in collecting art this way.
I don't understand NFT collectors at all. For example, a picture can be hung on the wall, but what to do with NFT? Just knowing that you have a collection on your computer is ridiculous. In my opinion, NFT can have one use - proof of ownership for artists who work in the field of web design and film creation, advertising, etc.
As with NFTs, those people can just create a bunch of NFTs and buy them with their own money, this creates the illusion that a transaction has taken place and they can declare those profits to the tax authorities of their country and make that money legal, when in fact no transaction took place as they just sold those NFTs to themselves.
This is a very interesting opinion about the use of NFT in money laundering. But what about the fact that own NFTs should be evaluated by an independent party, because when checking the transaction by an interested party, they may ask the question - why exactly such an amount was paid for them?
The possibility of establishing a market like that is completely gone, when NFTs were first introduced this is the first thing that came to my mind, since an artist that expresses their art mainly through a digital media does not have the advantages of those that use more traditional methods to create their art.
NFTs seemed like a great way for those people to monetize their talent and for collectors to finally become capable of fully owning a digital image, but scammers ruined the reputation of NFTs, and now I doubt there is anyone interested in collecting art this way.
NFTs seemed like a great way for those people to monetize their talent and for collectors to finally become capable of fully owning a digital image, but scammers ruined the reputation of NFTs, and now I doubt there is anyone interested in collecting art this way.
I don't understand NFT collectors at all. For example, a picture can be hung on the wall, but what to do with NFT? Just knowing that you have a collection on your computer is ridiculous. In my opinion, NFT can have one use - proof of ownership for artists who work in the field of web design and film creation, advertising, etc.
As with NFTs, those people can just create a bunch of NFTs and buy them with their own money, this creates the illusion that a transaction has taken place and they can declare those profits to the tax authorities of their country and make that money legal, when in fact no transaction took place as they just sold those NFTs to themselves.
Criminals now see a opportunity to make their transaction looks legal by having this and I really don't think what's the real essence of buying those super expensive NFT while this is just a doodle art or just a piece of pics which don't have any actual value. Maybe for other real artist decide to digitalize their creation yes we can agree that they have value but for other random NFT I don't get the point why people got crazy to acquire it.
I'm not fan buying any NFT art stuff that's why expect that I am always skeptical regarding on this. Although I understand that many people earn a lot of money here due to flipping but they should see how much the value of their last NFT and for sure they can figure out it almost got no value and no people willing to buy it again since the hype is over with those NFT's.
The possibility of establishing a market like that is completely gone, when NFTs were first introduced this is the first thing that came to my mind, since an artist that expresses their art mainly through a digital media does not have the advantages of those that use more traditional methods to create their art.
NFTs seemed like a great way for those people to monetize their talent and for collectors to finally become capable of fully owning a digital image, but scammers ruined the reputation of NFTs, and now I doubt there is anyone interested in collecting art this way.
NFTs seemed like a great way for those people to monetize their talent and for collectors to finally become capable of fully owning a digital image, but scammers ruined the reputation of NFTs, and now I doubt there is anyone interested in collecting art this way.
I don't understand NFT collectors at all. For example, a picture can be hung on the wall, but what to do with NFT? Just knowing that you have a collection on your computer is ridiculous. In my opinion, NFT can have one use - proof of ownership for artists who work in the field of web design and film creation, advertising, etc.
As with NFTs, those people can just create a bunch of NFTs and buy them with their own money, this creates the illusion that a transaction has taken place and they can declare those profits to the tax authorities of their country and make that money legal, when in fact no transaction took place as they just sold those NFTs to themselves.
Maybe one year ago Tokens (NFT) became very popular because they were trending and received high public attention and now they have faded somewhat. I personally don't really take risks if it's something I don't understand at all and I don't want to put my funds into NFT projects. My current attention is only on BTC and ALt coin which give me good and real returns which is all I am after for now.
I agree with you, NFTs are pushing the boundaries of what is possible, bringing innovation to various industries. They bring uniqueness to the digital world and have the potential to transform not only art and gaming, but other fields as well, providing new ways to interact and create value.
How does NFT contributes towards the innovation? I haven't seen any useful real life use of NFT because it's nothing more than just an digital art which has been leveraged by the whales and some celebrities to hype and sell it. Just look back and see the celebrities like Cristina Ronaldo and Logan Paul are facing lawsuit due to these NFT's and it's endorsement. I am sorry this is not meant to disrespect you but as per my opinion I haven't seen it being useful in real life and if you have seen any uses do let me know.
1. NFT shall represent value of Real World Assets instead of only conceptual ownership without actual useful-value back-up;
2. ERC-721 is too simple to define the complicated attributes of RWA with respect to their ownership, set up, disposal as well as change of title etc.;
3. Legal relations backing the RWA shall be implemented by smart contracts, so as to enable right-holders may exercise their legal rights directly, automatically and without any third-party to involved;
4. Smart contracts can automatically realize the legal consequences of legal behaviors such like transfer title or casting votes etc., which means no obligors will need to involve into the process thus obligors have no chance to defaults.
If convenience, you may have a look at comboox.gitbook.io/whitepaper-en, which is a RWA project using smart contracts to define and control Equity Shares of companies.
There is like a whole Thing that exists, where Starting with WAX Blockchain You can see it, they made Games where You use Things You Buy. This is kind of a MMORPG Thing that Happens, and that gets into like Ranking and Weapons Sets. All the Skins.
So then when making Games, there are Sprites, like Gauntlet Legends on Nintendo they were Talking about Polygons and Everything.
So we used to Play Halo 1 and 2, and we used the OG Xbox to Soft Mod. We used Splinter Cell and the Action Replay, to Open up FTP.
Then we made like Alien Vehicles into Batmobiles, and Smiley Faces in Place of Ash when the Rockets hit something. We set the Physics Different, etc. there was a Neighbor that we knew that did most of it for us, I got all the Materials, and we were Kicked off of the Xbox Network so we had to Play with other Modders and we saw some Things that was never there in the Normal Game.
And then they made the Xbox 360 and made the Home Screen like we used to Mod, and they made the Zombies Game that we used to Play on Trust.
But Everyone can make Money Selling Things for all of this. There are whole New Networks in Blockchain now.
So then when making Games, there are Sprites, like Gauntlet Legends on Nintendo they were Talking about Polygons and Everything.
So we used to Play Halo 1 and 2, and we used the OG Xbox to Soft Mod. We used Splinter Cell and the Action Replay, to Open up FTP.
Then we made like Alien Vehicles into Batmobiles, and Smiley Faces in Place of Ash when the Rockets hit something. We set the Physics Different, etc. there was a Neighbor that we knew that did most of it for us, I got all the Materials, and we were Kicked off of the Xbox Network so we had to Play with other Modders and we saw some Things that was never there in the Normal Game.
And then they made the Xbox 360 and made the Home Screen like we used to Mod, and they made the Zombies Game that we used to Play on Trust.
But Everyone can make Money Selling Things for all of this. There are whole New Networks in Blockchain now.
NFT? Aren't they dead? Well, I don't see NFT as a proper way of investment. Instead, I see them as a trend that has game and gone after some time leaving people with nothing. There was a hype at the beginning but right now I don't see much movement in the NFT market.
So them coming back for making a change or impact in the market seems like a fairy tale. The Golden era of NFT has died and I don't think it will ever come back. And it is also hard to make real life NFTs. You cannot input blockchain data in real life object. They can be cloned or copied so there's no way for a proper validation.
So them coming back for making a change or impact in the market seems like a fairy tale. The Golden era of NFT has died and I don't think it will ever come back. And it is also hard to make real life NFTs. You cannot input blockchain data in real life object. They can be cloned or copied so there's no way for a proper validation.
I've always wondered about the essence of NFT projects as investment in the long, I've never been a part of any of their communities because I really don't understand their vision, all I see is their focuses on games and arts. I guess they'd have to sale a masterpiece to a very rich art enthusiast or a celebrity to earn their tokens, my concern is that the art piece can be duplicated and anybody can have it, except the buyer keeps the original. I'll agree with you that NFT is a trend, and if they don't add any new innovations, then they're as good as dead, with investors funds going down with them. I don't know much about NFT so don't take my words as facts.
NFTs seemed like a great way for those people to monetize their talent and for collectors to finally become capable of fully owning a digital image, but scammers ruined the reputation of NFTs, and now I doubt there is anyone interested in collecting art this way.
I don't understand NFT collectors at all. For example, a picture can be hung on the wall, but what to do with NFT? Just knowing that you have a collection on your computer is ridiculous. In my opinion, NFT can have one use - proof of ownership for artists who work in the field of web design and film creation, advertising, etc.
So it could be interpreted that NFTs are not good for investment, especially for long-term investment. I myself am not interested in NFTs even though many say this is a very good investment if you enter the gaming industry. Several times I have seen that NFTs can be expensive because of FOMO, and those who buy them pretend to be an "investment" even though they are also carried away by FOMO. I once saw one investor buy an NFT for 1.1 million dollars, and now it's only 10 dollars.
You could say Bitcoin/altcoin is an investment while NFT is a hobby that is booming for just a moment, over time it will be forgotten.
The problematic with NFTs is their unique nature, if you have some bitcoin in your wallet you know that somewhere there is a person that is interested in buying it if you were willing to sell it.You could say Bitcoin/altcoin is an investment while NFT is a hobby that is booming for just a moment, over time it will be forgotten.
But when it comes to NFTs there is no way to be sure this is the case, as even if for you that NFT was so valuable that you decided to buy it for a high price, you cannot know if there will be another person which will be as interested in it as you were back then, this makes it difficult for NFT owners to time their exit strategy, so they keep holding their NFTs for too long and by the time they try to get rid of them their NFTs are worth nothing.
I think the crypto market will be filled with very large funds later after Bitcoin ETF is accepted and, all crypto sectors will rise again. This will happen after all global issues decline.
My nft scenario is to buy at the beginning and sell when the profit is x2, usually I buy newly released nft.
It's recommended we know the basis of the system and not keen on making silly mistakes. We have NFTs season, the same way we have altcoins season. We have no concerns regarding the huge investments in the market, I'm just after milking the system heavily and putting on good smiles on my face and lay down crucial investments as evidence of the good life. Non-Fungible Tokens are overhyped in the market and they're gradually becoming dormant, perhapes I won't say they're simple because mere looking at these NFTs projects, they're appear to he complex. My nft scenario is to buy at the beginning and sell when the profit is x2, usually I buy newly released nft.
NFTs have taken the digital world by storm. How do you envision non-fungible tokens impacting industries beyond art and gaming? Share your wildest NFT use-case scenarios!
NFT ussualy only picture product. not gaming industri.
most people don't like NFTs because if you buy it, selling it again is difficult. it's different from coins that already have a market. whenever you need money, you can immediately sell the coins and become money. you can use it all the time. if NFTs are only for hobbies in the art world, for example, photo images. or fans of a character so they want to buy NFTs.
You could say Bitcoin/altcoin is an investment while NFT is a hobby that is booming for just a moment, over time it will be forgotten.
I agree with you, NFTs are pushing the boundaries of what is possible, bringing innovation to various industries. They bring uniqueness to the digital world and have the potential to transform not only art and gaming, but other fields as well, providing new ways to interact and create value.
How does NFT contributes towards the innovation? I haven't seen any useful real life use of NFT because it's nothing more than just an digital art which has been leveraged by the whales and some celebrities to hype and sell it. Just look back and see the celebrities like Cristina Ronaldo and Logan Paul are facing lawsuit due to these NFT's and it's endorsement. I am sorry this is not meant to disrespect you but as per my opinion I haven't seen it being useful in real life and if you have seen any uses do let me know.
I think the crypto market will be filled with very large funds later after Bitcoin ETF is accepted and, all crypto sectors will rise again. This will happen after all global issues decline.
My nft scenario is to buy at the beginning and sell when the profit is x2, usually I buy newly released nft.
BTC ETF is already accepted though, but its not really giving significant increase maybe because the rumour is already out for so long that people are already anticipating it basically buying it earlier and therefore buy the rumour sell the news and as a result, the not so significant increase is happening but overall considering the rumour was already helping bitcoin massively in getting the price right now still appreciate it, in the future though we definitely will see something of a more positive trend considering that ETF already approved meaning there will be so much more capital flowing into bitcoin as an investment.My nft scenario is to buy at the beginning and sell when the profit is x2, usually I buy newly released nft.
if its NFT, what i anticipated definitely is the Ethereum ETF there are rumour that some big investment companies has started to propose the ethereum ETF and it will definitely massively affect some tech that are built on top of EVM like these NFT technology.
but well that just speculation on my end, we will see something in the future I guess.
I see more promise in the idea of using NFTs as a utilitarian product. For example, any types of tickets that do not require identification confirmation, or use as a discount system. You can even remember NFT sneakers and Stepn. But so far all this can be realized from paper or plastic, few people will use NFTs and blockchain technology in general.
thats the most plausible use of technology and apparently the most realistic use of the technology but it seems not that much of people use the technology for that purpose yet, i don't know what the cause whether they are not interested because its too complex or something. but if there's any real use case for NFT technology, its definitely one of them not the effort of hyperinflating the value of certain NFT art in the market which right now has shown to be failing mess.right now though so many project are utilizing NFT for identification for airdrop and something like that and it worked really well, even the owner of the NFT can move around selling that eligibility identifier of an airdrop, imagine if ticketing also using NFT and we can just resell the ticket if we can't attend the concert and so on it would be awesome but i'm guessing that we're still too far from such technology being used massively across many events and concert.
This will depend on the issuer of such NFTs. Some of them will use soulbound tokens (SBT).
I agree with you, NFTs are pushing the boundaries of what is possible, bringing innovation to various industries. They bring uniqueness to the digital world and have the potential to transform not only art and gaming, but other fields as well, providing new ways to interact and create value.
Jump to: