Topic: The Future of NFT (Read 1035 times)

The future of NFTs (Non-Fungible Tokens) is a topic that generates a lot of discussion and differing opinions. It's important to acknowledge that perspectives on NFTs can vary widely, and individuals have different views on their value and potential.

NFTs have garnered significant attention and interest in recent years, primarily due to their ability to represent ownership and provenance of unique digital assets on the blockchain. While some people do see NFTs as a form of digital trash, as you mentioned, others view them as a promising innovation with transformative potential.

Here are a few considerations regarding the future of NFTs:

1.Diversification of Use Cases: Beyond just art and sports, NFTs have the potential to be applied to a wide range of industries and use cases. These include virtual real estate, music, virtual goods in video games, collectibles, and even tokenizing real-world assets like real estate and commodities.

2. Ownership and Provenance: NFTs provide a way to prove ownership and authenticity of digital assets. This has implications for artists, creators, and collectors, as it offers a more secure and transparent way to buy, sell, and trade digital content.

3. Monetization and New Revenue Streams: NFTs offer creators the opportunity to monetize their digital creations in ways that were not possible before. Musicians, artists, writers, and other content creators can potentially generate revenue by selling NFTs of their work directly to their audience.

4. Challenges and Skepticism: Despite the potential benefits, there are challenges and concerns associated with NFTs, such as environmental impact due to energy-intensive blockchain networks, issues with copyright infringement, and market speculation that could lead to bubbles.

5. Mainstream Adoption: As larger companies and platforms begin to incorporate NFTs into their strategies, it could lead to greater awareness and mainstream adoption of NFTs. This, in turn, could impact their perceived value and utility.

6. Technology and Innovation: The underlying blockchain technology has the potential to evolve and improve, addressing some of the current limitations and challenges associated with NFTs.

Ultimately, the future of NFTs will be shaped by various factors, including technological advancements, regulatory developments, market trends, and broader societal acceptance. It's important for individuals to conduct thorough research and consider both the potential benefits and risks before getting involved in the NFT space, whether as creators, collectors, or investors. Just as with any emerging technology, opinions about NFTs will continue to evolve as more information becomes available and as the technology matures.

Obviously they are not the same thing. They are layer 2 protocol. But i feel that hate comes from same place as with bitcoin.

People don't either get it or they are not in on it and they hate because they see people getting rich as annoying as hell.
Or they do think they get it but as the reality didn't meet their understanding what it should be, they are now hating it. Just like with bitcoin.
Or they hate them because of enviromental reasons. But that only applies to bitcoin nfts anymore.

And i don't think i need to point out that there are more representations for nfts that are other than art?


Sure, i think that almost every game out there is selling ad spaces. But i meant ad spaces in form of NFT, not land space you can name or to modify blocks to advertise, but like screens in the public walls or in several walls, houses, tv slots, car paints etc and those could be freely transferable in open sea and after ownership, jpg/gif could be anything the owner wants . I haven't seen anyone done this.

For me as an Artist (Digital Artist). NFTs provide a valuable opportunity to monetize and protect my work. By using NFTs, I can create unique digital assets that are verifiably owned by a single person, which increases the perceived value of each artwork. Additionally, the use of smart contracts can enable me to earn royalties every time the NFT is resold on a secondary market, creating a potential ongoing revenue stream.
The increased visibility and authentication provided by blockchain technology also helps to build trust with potential buyers and collectors. Overall, NFTs offer a promising new avenue for digital artists (like me) to showcase and profit from their creations in an increasingly digital world.  

Not understanding the whole idea of NFT's is our biggest problem. It is not an image, when you talk about NFT's, people think about those images right away, and that has nothing to do with this. Those images use the NFT technology, that's true, but they are not the whole owner of the word NFT neither, they are good but they could be better and all that. I believe that we should be focusing a lot more on what else NFT could be used for, and the moment people realize that, we will get a lot more in the NFT world but until then its not going to go back up like coins do, because the hype is simply no longer there.

Advertisement is one of the things I think of in generating money from metaverse. I believe that some metaverses is doing it right now. This can be big and prices could ramp up higher depending on how people visit and engage to a certain metaverse. Filters should really be a thing in renting a space ad, There would be people who would most likely put their unlawful advertisement where it shouldn't be. It could catch the authority attention and make a move about it which is certainly negative for crypto and the whole metaverse. 

You can't just compare NFT to Bitcoin. Sure there are people who also hate Bitcoin but they do it for a reason, I mean they hate BTC because they can't control it but that isn't the case with the NFTs. NFT can be controlled but there is no significant use about it other than for displaying purposes. There are some things which won't really fit in the digital world and one of it is the art.

It would be better if they leave the art industry as is. Bitcoin continues to improve despite of some of the hates that it gets but don't expect that the same thing can also happen with NFTs where they will also rise. I haven't seen that but what is actually happening is the opposite.

Land and items already exist . But selling Nfts as Ad locations where you can customize ads is actually a very good idea. PIctures on those ads however should go trough some filters/people to prevent any illegal material but the idea is very good. Games are already selling ad spaces and you can name space stations etc for money, so it would make sense that these as spaces would easily be transferable in nft markets.

I believe there would be a next version of nft which deeply integrated to metaverse such as land, items so that ppl could use for ads …

for now, it is trash and over value.

Well with the bitcoin blockchain now filled with this trash over the last couple of weeks, I had a thought about it

NFTs can be on multiple chains.

Thus the original one would have to be the one that has the earliest 'block' time on any chain.
Alas you can fake the block time ...

You'd simply have to watch for a new NFT on bitcoin, then mine it into a scamcoin chain and timestamp the scamcoin block earlier than the bitcoin block ...

... and of course someone could do the opposite and mine it into a bitcoin block not long after the original scamcoin block then claim it was stolen by the scamcoin chain.

Fun.

I think NFT is a kind of collectible. I don't endorse all NFTs. I think NFT has similar meanings to souvenirs. If you like it, you can choose to buy it for collection. It's not going to be an ace among altcoins.

NFTs have potential but at the same time a great deal of that potential has been taken away by scammers, at this time when people think about NFTs they no longer think about an exciting sector in the market of cryptocurrencies, the first thing that comes to their mind are the countless scams we experimented during the last year, and this is not the kind of stigma which goes away that easily, as many investors which believed on NFTs lost their money and they are not going to make the same mistake twice by believing in those scammers again.

The future of non-fungible tokens (NFTs) is an exciting one. They are already being used to represent digital artwork, collectibles, and other digital items with cryptographic guarantees of authenticity and ownership. NFTs also have the potential to revolutionize digital asset trading, gaming, and auctions. As with many new technologies, there are still some challenges to be addressed before NFTs can truly take off, such as scalability, interoperability, and security. However, given the current momentum of this technology, it's likely that NFTs will become a major player in the digital asset economy.

this is why if you are a buyer of NFT, make sure you have done your due diligence because i am sure, most of these items will go down their price hard. ask yourself, what is the reason why they will be valuable in the future? will there be people be interested with your NFT item? nowadays, it seems that everyone can just scramble something and come up saying that's an art. so yeah, better make sure you are buying a valuable item not to get rekt by this

so many are calling NFT dead already, after all majority of them has decreased in terms of valuation that some of the famous NFT back then which was valued thousand of dollars like right immediately after being minted now doesn't even have value.
I'm sure that it was caused by the fact that NFT was fully infested by some shitty arts back in the days also contributes to its destruction, NFT is too easy being cloned by some people that wants easy money, therefore its destruction was almost certain.

the recent nfts arts quite literally clouded so many people judgement in regards of the use of nft technology for other things, it could be used for authenticity etc but they are already having impression that nft is nothing more than just fad just because the nft art that quite literally was being used for manipulation back in the days, I think we need some breakthrough in the use case of nft if we really want to save the future of nft and that's not some manipulation like nft arts that has already collapsed today.

When everyone can just create their own money making machine it would be naive not to think that every scammer out there wouldn't take advantage on that.

But obviously this is not about NFT. They are just new vechile for the most popular scam in crypto. I find it weird why people are focusing on NFTs and not Bep-20 on this when when we have actual numbers about other crypto scams. Solidus Labs said that 350 new 'scam tokens' were created every day this year.

https://cointelegraph.com/news/350-scam-tokens-were-created-every-day-this-year-solidus-labs

The strength of the NFT concept is still minimal under current functions. Of course the game of the rich always creates a new hype. This community support is necessary for this concept to work, but the era is still not far enough to fulfill the completeness of NFT. I think NFT can work when all countries/society understand cyrpto and blockchain which as a function make it easier for humans

NFTs are still not fully understandable to people for now. Because they are thinking analytically why should I pay so much just because an image or video is on the blockchain, in short. If you look at NFTs through the eyes of art then the scale changes. Hodlers who invest and hold NFTs can set their own values for them, it's digital in a very nice and soft way.

for now I really agree with you that the concept of making NFTs for life is still very minimal, meaning that there is no use for NFTs in today's life,
this has proven that many NFTs have no price, but for the future NFT is of course still very long, and maybe it will be useful for our lives,
so we have to be patient if we want to enter NFT, of course this is the right time, but remember the risks are very big.

I don't think that nft will have any future, people in general don't understand point of it. Even crypto coins is usually easier to explain