Topic: The future of NFTs - page 2. (Read 225 times)

I can't compare the NFT trend to the 2017 ICO trend where even a rubbish project can make a good profit. Here in NFT, it seems a big deal at most and the daily sales on OpenSea are the best proof of it. NFT blockchain games also contribute to the popularity of it and unlike projects after ICO, some NFT-related games sustain their operation and yield profit to most people.

The NFT trend will last for a long compared to the other trend we experienced before, ICO, IPO, IDO, Defi, etc

Everything you can think of, you can find on NFTs. It's like they have specifically created this market to dump everything they can into people's mouths and make them believe that it's worth something. The idea for something insanely overpriced for normal things has become normal thanks to NFTs. I'm not hating on celebrities getting their shit on the internet and creating a market for their own "useful" stuff, but the idea of getting profits out of someone else's overpriced shit is quite the norm today, and it's just saddening that a lot of people are getting lured into the bullshit most of the time just because they trusted some people that their shit are worth something.

Those fan tokens are just made up use cases for NFTs in my opinion. They do not really need to create one just to have a "currency" for the athlete or celebrity and their followers. I'm also not fond of using NFT for arts. NFT gaming for play to earn is a much more acceptable use case for me so I think that's where the focus should be.

Arguably ICOs evolved into IEOs and IDOs and such, with much more reasonable amount of money being raised. So I think it's not as clear as simply fading away. I agree NFTs are widely overvalued, but just like raising money for new altcoin projects has remained popular, so will these new tokens I imagine. The art & collectables industry are loving them, even if the crypto market isn't so impressed.


There is utility these days in modern NFT collections, from the obvious staking and DeFi-based yield farming, onto it being used as access for physical and virtual events or places, as well rights to use in music & film. It seems insane right now, but if Facebook and others are successful with their Metaverse development in the future then the value of avatars are suddenly going to appear more realistic imo.

People thought the bubble had popped with CryptoKitties in 2017, but it didn't. Then in March after mainstream exposure, before it really started to take off. Just like altcoins 99.9% of them will fail and become irrelevant, already 90% have lost most of their value etc, but seems obvious that some will continue to survive and thrive, even if not the like of cryptopunks or bored apes.

I also think buying a Picasso for millions is madness,  as you can simply find your own copy, download it and print it out, and it's nothing more than some paint on a piece of paper woth $$ at best. But clearly this hasn't devalued his collection, neither the number of copies nor the number of fraudulent pieces. Sometimes a longer-term perspective is useful here.

NFTs are definitely picking up in the crypto trend. Great few examples of this is how NFTs are now intrinsic of the play to earn game mechanics, how NFTs are generally used as blockchain-stamped proof of asset ownership, and more recently as collateral for lending/borrowing.

However, with all of these models in place I'm not convinced that we're there yet to really use the power of NFTs. One limiting factor for this is of course the technology as most traditional NFTs are minted on Ethereum where the fees can be substantial.

So, the way I view it NFTs do have a place, they do have a bright future and I think we're just touching the tip of the iceberg.

Exactly what you are saying.

There are a lot of projects out there that is just purely making money off hype right now, and those are the ones that are first to go honestly.

Be aware of quick cash grabs. They can turn out to be ridiculously high priced JPEGs.

i believe otherwise. i think nft business is just beginning. now, artists, singers, popular personalities are just discovering the new digital way on how to reach out their fans. if this is just a hype, this hype will survive long as these personalities will try to get on board on this NFT business. but if you are a buyer, definitely, you need to be smart on this. just buy what you think will be important and valuable to you. not because you just want to buy and hope to sell it in profit.
as nft collectibles may turn to be cheaper later on, for those who are hoping to sell it at great profits will regret buying expensive nft items.

Did ICO last longer after the hype? No, right that is what eventually will happen to NFT as well in my opinion. Someone started the craze and now its trending with no actual utility. I like the non fungible token idea but it is not really too great to involve them in every sector.

That's just an opinion that I'm thinking that almost everything might get into NFTs soon. And that's one that came to my mind, what happens next is, I have no idea for it.
Maybe there would be some sort of loyalty and rewards for those that will have their memberships minted onto an NFT. Well, it really depends on the company that would do that.

We can expect more NFTs to come until the hype was gone just like the ICOs before but since Metaverse becomes a new trend, I think good NFTs will stay and we can be more profitable if you see a good project with NFT and Metaverse. I believe, ICO situation before are different compare with the current trend, NFTs becomes more valuable as many celebrities and artist started to sell their art thru NFTs.

Many artist are going into NFTs because they know they can easily sell that NFTs since they are popular and we cannot blame them for taking advantage of the current hype of NFTs, the future is still bright with NFTs and no sign of downtrend yet. There’s a lot of options when it comes to investing with NFT and seriously, I choose the NFTs with a real usage and good privileges by owning it.

I can totally see the need for memberships, but once you redeem it, I wonder what the NFT will look like. Will it get burned? And with gas fees it almost doesn’t make sense to be minting NFTs for applications like this

Almost everything that they can apply is possible to be added in NFTs. IMHO, next time it could be memberships that are legitimately coming from huge companies that are giving subscriptions. Anything that these companies can capitalize and monetize, they might do it at their own will.
The possibility of it is endless until we see some huge drop for most of them. But with those collectibles, they seem to be unstoppable for now.

I don’t know about you, but it looks like we’re in the ICO stage (2017) stage of NFTs. Quick cash grabs, high floor prices, etc.

Beyond art, I see so many other applications for NFTs. Example: Michael Jordan creating a fan engagement platform with NFTs, companies like 4K turning physical goods into NFTs to leverage, music platforms that sell NFTs to redeem for experiences, etc.

What other applications do you guys see for NFTs?