Uncertainty in the NFT market | Bitcointalksearch.org

MCobian

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Quote from: wxa7115 on July 20, 2022, 04:22:19 PM

Quote from: icalical on July 15, 2022, 08:19:59 AM

To be fairly honest, I think you are late if you want to buy NFT now, even if you can make some profit it will be quite low. Looking at previous crypto trend like ICO, and DeFi their popularity keep decreasing when bear market like this happening, and after the bear market end and bullish come the popularity does not come back and then the new trend come. So, if you have unused money laying around you can buy NFT and just leave it and pray, but if you are not ready to lose your money, my advice would be just wait.

The hype is completely gone and it is doubtful it will ever return, in this market it is incredibly easy to manipulate newbies in order to invest in all kinds of crazy stuff that at the end of the day is not going to have any kind of long term value.

But once those newbies realize they have been deceived and all of those NFTs are worth nothing or a lot less than what they paid for them that is when all the hype begins to disappear, as other newbies begins to see what's happening in that market and despite their lack of knowledge they begin to realize that investing in such market is a big mistake, so anyone that is thinking in investing in those assets is just wasting their time.

Although the NFT trend has not ended, it has been seen that quite a few investors are no longer pursuing NFT in a bear market situation
as it is now. Finally this year the price of NFT is falling and it is not recommended to buy it, because as you said it is very doubtful that
NFT can return to the hype. So if buying NFT this year, the risk is very high, it is very likely that we will lose money if we buy NFT now.
However, this year it is better to focus on investing in top coins that have strong fundamentals, such as Bitcoin and Ethereum, which has
proven to be very good for long term investments.

While NFT in my opinion is not for long-term investment, then only newbies who lack knowledge and experience are still interested in NFT,
where the newbie is usually influenced by influencers who promote NFT. Even though we all know when we are going to invest in the crypto world,
we only believe in our own research and analysis, other people's opinions only make us take wrong decisions and will regret in the end.

wxa7115

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Quote from: icalical on July 15, 2022, 08:19:59 AM

To be fairly honest, I think you are late if you want to buy NFT now, even if you can make some profit it will be quite low. Looking at previous crypto trend like ICO, and DeFi their popularity keep decreasing when bear market like this happening, and after the bear market end and bullish come the popularity does not come back and then the new trend come. So, if you have unused money laying around you can buy NFT and just leave it and pray, but if you are not ready to lose your money, my advice would be just wait.

The hype is completely gone and it is doubtful it will ever return, in this market it is incredibly easy to manipulate newbies in order to invest in all kinds of crazy stuff that at the end of the day is not going to have any kind of long term value.

But once those newbies realize they have been deceived and all of those NFTs are worth nothing or a lot less than what they paid for them that is when all the hype begins to disappear, as other newbies begins to see what's happening in that market and despite their lack of knowledge they begin to realize that investing in such market is a big mistake, so anyone that is thinking in investing in those assets is just wasting their time.

Questat

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Quote from: minhtra on July 20, 2022, 12:07:27 AM

Downtrend week for NFTs this week I would say given that nft floor price for most of the blue chip NFTs are on decline.
I suspect because new NFTs coming into the market taking the excitement such as Stepn shoeboxes, the americans, kingship, and terraform doing some reasonable volumes as well as people taking profit and de risking from crypto price recovery https://www.coingecko.com/

What you mean is this is manipulation and it was obvious in the market. In fact, NFTs are in the hypes which makes people encouraged to invest during the bull market but as the bear season comes, absolute drops come next.

I have a reason why I don't like NFT, a collectible tokens can't be in long-term investment which I think is one reason also that many investors never after them even during this time.

posi

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Quote from: fortuner on July 16, 2022, 04:49:01 AM

Quote from: Luzin on July 15, 2022, 12:45:24 PM

It seems that many people are unsure about the future of NFT. I'm also not interested in NFT. Even now, NFT which has a useful price has also fallen by 90%. I don't know it's because the market is bad or indeed NFT is getting less and less desirable. Here I get a picture of data from one of the Telegaram Groups. I also discussed this on my local board. Maybe this picture can make you know more about the current state of NFT prices.

It can be said that the question of trust for the future is indeed difficult because almost all altcoins are currently declining, especially NFT projects that are just developing.
But whatever it is, hopefully NFT will also have a good value and its development will continue for the next few years.

Yes, this is a very difficult question, we cannot say NFT will die while the topcoins are just as bad. I agree that the price of NFTs is greatly inflated in the 2021 bull season and their price without hype is very low. But obviously, NFT is very new and many of us are just looking at its hype to invest, people haven't dived into it yet. At this point, it is difficult to confirm everything, whether to invest or not, let each person decide for himself.

minhtra

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Downtrend week for NFTs this week I would say given that nft floor price for most of the blue chip NFTs are on decline.
I suspect because new NFTs coming into the market taking the excitement such as Stepn shoeboxes, the americans, kingship, and terraform doing some reasonable volumes as well as people taking profit and de risking from crypto price recovery https://www.coingecko.com/

Captain Corporate

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It is clear that we are not going to end up with a clean NFT market anytime soon. Sure its going to be something that is a bit of a risky situation for a while, but not %100 down and horrible neither. We are in a situation where we are seeing some projects that do well, and some projects that do not do so well. Which means that we can't say "all NFT's are risky and avoid them" or we can't say "there is an NFT hype, invest right away!" anymore neither. Just check each project carefully all by yourself, and if you think that its doing well enough, then we are going to be fine, pick the good ones, and avoid the bad ones and you should be fine.

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Quote from: Luzin on July 15, 2022, 12:45:24 PM

It seems that many people are unsure about the future of NFT. I'm also not interested in NFT. Even now, NFT which has a useful price has also fallen by 90%. I don't know it's because the market is bad or indeed NFT is getting less and less desirable.

It is because NFTs are overpriced. Aside from that the economic model of NFTs mimics the Ponzi-like schemes. Since NFT has no real-life usage, they just rely on the next buyer who will get it at a higher price. Since there is not much demand, the market will normally crash just like on the graph.

Quote from: Cling18 on July 16, 2022, 01:35:32 PM

NFTs aren't strong enough to deal with this season. Some developing projects paused for a while and will just resume launching when the market recovers. The hype of NFTs isn't active anymore and it's hardly affected by the bearish market. I guess the time for NFTs will continue to boom in the future but it needs time and investing in it in this bear market won't be a wise idea.

I think the hype of NFTs is long gone now. People are also aware that there is more risk than profit in this industry so many are avoiding this market to avoid unnecessary losses.

n0ne

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Quote from: Cling18 on July 16, 2022, 01:35:32 PM

NFTs aren't strong enough to deal with this season. Some developing projects paused for a while and will just resume launching when the market recovers. The hype of NFTs isn't active anymore and it's hardly affected by the bearish market. I guess the time for NFTs will continue to boom in the future but it needs time and investing in it in this bear market won't be a wise idea.

NFTs are hyped same as that we had ICO's in the past. To some extent it looks good and it emerged as a value backed asset. Further it wasn't able to make good progress, because people realised a new marketing strategy is being used and nothing is gonna happen out of it. I don't find the NFT market to flourish as its beginning days.

Cling18

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NFTs aren't strong enough to deal with this season. Some developing projects paused for a while and will just resume launching when the market recovers. The hype of NFTs isn't active anymore and it's hardly affected by the bearish market. I guess the time for NFTs will continue to boom in the future but it needs time and investing in it in this bear market won't be a wise idea.

fortuner

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Quote from: Luzin on July 15, 2022, 12:45:24 PM

It seems that many people are unsure about the future of NFT. I'm also not interested in NFT. Even now, NFT which has a useful price has also fallen by 90%. I don't know it's because the market is bad or indeed NFT is getting less and less desirable. Here I get a picture of data from one of the Telegaram Groups. I also discussed this on my local board. Maybe this picture can make you know more about the current state of NFT prices.

It can be said that the question of trust for the future is indeed difficult because almost all altcoins are currently declining, especially NFT projects that are just developing.
But whatever it is, hopefully NFT will also have a good value and its development will continue for the next few years.

Tony116

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If you came to NFT last year, it would have been a great time to invest in NFT because of the hype, but given the current situation it is probably not a wise decision.

NFTs are not dead yet nor will they disappear like ICOs but the hype won't be at this point nor will it be profitable to invest.

I recommend investing in bitcoin and ethereum during a bear market because only these 2 coins are sure to give you safety and profit in the long run, everything else is uncertain.

Luzin

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It seems that many people are unsure about the future of NFT. I'm also not interested in NFT. Even now, NFT which has a useful price has also fallen by 90%. I don't know it's because the market is bad or indeed NFT is getting less and less desirable. Here I get a picture of data from one of the Telegaram Groups. I also discussed this on my local board. Maybe this picture can make you know more about the current state of NFT prices.

icalical

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To be fairly honest, I think you are late if you want to buy NFT now, even if you can make some profit it will be quite low. Looking at previous crypto trend like ICO, and DeFi their popularity keep decreasing when bear market like this happening, and after the bear market end and bullish come the popularity does not come back and then the new trend come. So, if you have unused money laying around you can buy NFT and just leave it and pray, but if you are not ready to lose your money, my advice would be just wait.

robattfield

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Quote from: masterrex on July 13, 2022, 10:29:38 AM

Quote from: mercutos on June 30, 2022, 01:20:18 PM

Good morning

I was looking at the uncertainty that there is currently about investing or not in NFT projects... what do you think about it?

I'm new here please treat me well Tongue

IMHO, I guess we have common sentiments about NFTs except for the P2E NFT platforms because I already enjoyed and reap the benefits with these platforms and the demand for their NFTs is real because there is money circulating in it. Anyway, about the plain NFTs in the market, I have never invested with them so far because I was doubting their economic value and still asking where the demand is coming from? in these pieces of digital art that were stored on the blockchain.

It's perhaps more fair that as things have progressed, we've seen how the exaggeration of previous trends made them unsustainable in the eyes of many in the sector. I do not deny the potential that it applies to this market, but in general, the implementation to bring sustainable value to stakeholders is not balanced. Only the leading things of the field are maintained. That is, most of them are considered short-term products. Anyway, it's only a small part of the market for me, so there's no need to overestimate how likely they are to get better over time, because I see things coming up with time and things. If this does not bring benefits to the market, it will be replaced by new forms.

wxa7115

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Quote from: Oilacris on July 08, 2022, 03:29:41 PM

Quote from: wxa7115 on July 08, 2022, 01:12:47 PM

Quote from: Teraboy on July 04, 2022, 06:43:48 PM

we are currently in a downtrend and NFT are the ones that gets affected the most, it's right now a bad idea investing in NFT honestly because it seems the trend is already over too.
it also seems that NFT has finally showing its true worth instead of its inflated worth that we have seen in most of NFT platform few months ago.
there is still a lot uncertainty in regard of whether an NFT could ever regain its former glory in the future.

Correct, I do not see where people see any kind of uncertainty at the NFT market, most people have always seen in the NFT market a manipulated market full of scammers and useless products that at the end will be worthless.

And surprise surprise that is exactly what happened, so while I am sorry for all of those which let the hype get through their heads and bought those useless coins at the end they are getting exactly the results the community thought they will get, so they have no one to blame but themselves for their losses.

Just like into that ICO boom where people do really believe that it could bring out fortune into them until the market had been flooded out by lots of shit and garbage projects which we dont really need.

Lots had been scammed and lots had lost their money or investment but people or the community doesnt really learnt up from those mistakes and keep supporting and investing on things which are obviously scam and not really worthy and from ICO we do see IEO,Defi and here comes NFT and we dont know on whats next.

Every investment does have risk which it is depending on someone where they would really be that mindful on following risk management and good emotional handling.

History just repeated itself, however I will say that at least back in the ico days I could see why people got excited about them, as there were a lot of projects that looked as if they could become incredibly successful and at the end they disappeared like the majority of the coins released back then.

However in the case of the NFT market the scam was way too obvious and yet people still decided to invest in all kind of images, videos and other stuff which will never hold any value for the long term, and this is something that I will never truly understand.

masterrex

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Quote from: mercutos on June 30, 2022, 01:20:18 PM

Good morning

I was looking at the uncertainty that there is currently about investing or not in NFT projects... what do you think about it?

I'm new here please treat me well Tongue

IMHO, I guess we have common sentiments about NFTs except for the P2E NFT platforms because I already enjoyed and reap the benefits with these platforms and the demand for their NFTs is real because there is money circulating in it. Anyway, about the plain NFTs in the market, I have never invested with them so far because I was doubting their economic value and still asking where the demand is coming from? in these pieces of digital art that were stored on the blockchain.

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Quote from: AakZaki on July 12, 2022, 05:58:48 PM

Quote from: leea-1334 on July 12, 2022, 05:09:25 AM

Not really if I am being honest the scammers have not gotten smarter, they use the very same ideas in 2016 and 2017, talk about hype, hire influencers, open groups, create fomo. New tech, new tokens, but the same sales tactics are in use and the people who fall for them, surprise! Are also the same type of people.

Trends do not change the tactics,,, and some people refuse to learn lessons.

I'm not interested in NFTs at all. I don't even own an NFT to buy, I have an NFT just a gift from one of the Exchanges. Even now it is worthless. From the beginning, I knew that NFT is very useful for art workers, but to trade for profit is very difficult. Some nft cases have bad endings. For those who bought NFTs during the Hype, they are currently struggling to resell. Until recently even I hadn't touched on NFTs at all, I thought it was just a hype that would quickly end unlike coin tokens that have utility.

Same here,,, I actually have 2 NFTs that were gifted, all I had to do was claim. I know they are shit,,, I know they are worthless and even if I sell now I can get a few dollars minus gas fees but it is all a trick to get you to think there is such a thing as free money.

Sounds familiar right? Like I said, just like in the good old ICO days.

Iyeman

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Quote from: AakZaki on July 12, 2022, 05:58:48 PM

I'm not interested in NFTs at all. I don't even own an NFT to buy, I have an NFT just a gift from one of the Exchanges. Even now it is worthless. From the beginning, I knew that NFT is very useful for art workers, but to trade for profit is very difficult.

NFT art kinda famous for its quirk of having low liquidity that it isn't even worth it as a investment, you just better invest in something else so basically the fact that you don't really get carried away with the trend of NFT justify itself.
right now NFT in general are already fading, even the famous ones has lost majority of its value, I kinda doubt in the future it could be getting its value back, since the values back then was overly inflated.

AakZaki

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Quote from: leea-1334 on July 12, 2022, 05:09:25 AM

Not really if I am being honest the scammers have not gotten smarter, they use the very same ideas in 2016 and 2017, talk about hype, hire influencers, open groups, create fomo. New tech, new tokens, but the same sales tactics are in use and the people who fall for them, surprise! Are also the same type of people.

Trends do not change the tactics,,, and some people refuse to learn lessons.

I'm not interested in NFTs at all. I don't even own an NFT to buy, I have an NFT just a gift from one of the Exchanges. Even now it is worthless. From the beginning, I knew that NFT is very useful for art workers, but to trade for profit is very difficult. Some nft cases have bad endings. For those who bought NFTs during the Hype, they are currently struggling to resell. Until recently even I hadn't touched on NFTs at all, I thought it was just a hype that would quickly end unlike coin tokens that have utility.

sana54210

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Quote from: lixer on July 10, 2022, 12:50:58 PM

Quote from: usekevin on July 09, 2022, 07:36:34 PM

Surely we will treat you as equal to us.But the important thing is,you need to learn of patience on trading to get good amount of payments from it.It will applicable to the NFT also.Because when the market is down,how the people will get investment in NFT.It is highly impossible one mate.So the dollars you had invested in the NFT will return as like a diamond,when the crypto market back to the normal.

No, he wasn't into trading cryptos but he clearly said investing in nfts. Patience is indeed a must on everything that we do here in crypto because like for example on this year, the bear is taking too long to be completed and many are expecting that this can last till next year.

If you don't have a patience, you already sold and look for other faster way to earn. No one is exempted in this bear but everyone is affected including those nft's even if they are slightly different from cryptos. It may not be possible to sell and make a profit right now but this is a good time to invest whether it was a promising nft or a simple cryptocurrency.

Bitcoin, altcoins, nft, defis, all things in crypto require patience for sure. If your whole aim in crypto is to make money in a single week and then retire, you will surely lose more than what you can earn. There are tons of people who can't see this, and that is why they keep on doing worse.

However, if you have patience, it is still not enough because you could invest into something terrible as well. Look at people who invested into Luna for example, that was a bad one and even if they wait 10 more years they will be in a loss. Hence, they should always focus on picking the right thing AND waiting for a long time together. You can't make profit with just one of them, you need both together to make a good profit.

Topic: Uncertainty in the NFT market (Read 500 times)