What is NFT? | Bitcointalksearch.org

B1-66ER

member

Activity: 60

Merit: 27

My actual opinion...

Since I heard about NFT's in 2014. Kevin McCoy, a digital artist, minted the first-known NFT on May 3, 2014, but I guess the genesis idea of NFTs is even older Back to 2012 called "Colored Coins" which describe a method for representing real-world assets on top of the Bitcoin blockchain and can be used to prove ownership of those assets. Basically, a regular Bitcoin, but with a metadata mark on them, that determines their use.

In 2021, 99% of NFTs are just another annoying buzzword to feed scammers and speculators.

For instance.

The Ubisoft NFTs Have COMPLETELY FAILED Roll Eyes

https://youtu.be/Z36q407Rze0

oemar bakrie

full member

Activity: 1330

Merit: 100

PredX - AI-Powered Prediction Market

Now there are many different types of tokens that have different concepts.
Previously it was just like an erc20, and now it's bscSolana nft or anything that has its own function..
.and as far as I know, nft provides an opportunity for those who have the ability in terms of art and also changes in the media so that it looks beautiful to look at because with art a change will come..

Rahman11

sr. member

Activity: 1428

Merit: 250

NFTs are tokens that we can use to represent ownership of unique items. They let us tokenise things like art, collectibles, even real estate. They can only have one official owner at a time and they're secured by the Ethereum blockchain – no one can modify the record of ownership or copy/paste a new NFT into existence.

fullhdpixel

hero member

Activity: 2828

Merit: 611

Quote from: Insomnia family on December 03, 2021, 02:28:49 PM

sometimes I personally still don't believe that NFT can have such a fantastic selling point, although I agree that this scenario is more of a money laundering part. but as long as we can take advantage of this trend to take profit, why not? I mean leaving after making a profit.

Looking at the meme coin world, they are doing exactly what you are suggesting. They all know that doge or shiba or whatever memecoin they are buying have zero value, none of them believes that it should be a great coin to buy and has a great future, they all do it just because there is a hype around it and if they can take advantage of that hype to make some profit then there is nothing to worry about.

I would say that there is a good chance we could make some profit with this as well, NFT could definitely be something you do not believe in but you still invest just because you believe that people will pay more, but that is a very risky way to approach investment isn't it? To believe that you will find some fool to invest more than they should?

noah tall

full member

Activity: 524

Merit: 100

In the crypto currency market the NFT have a unique value. These are digital assets with high price. These token can be pic ,video ir song NFT.
Now a day's so many market place launch there NFT's. And they give much benefits .

K4C

full member

Activity: 448

Merit: 103

$CYBERCASH METAVERSE

NFT are stand for Non Fungable Tokens. These tokens are basically digital assets with the great price. They are much value able . Also people's use these for converting black money to white money.

Insomnia family

member

Activity: 868

Merit: 10

Quote from: Kavelj22 on December 03, 2021, 12:30:55 PM

Quote from: Insomnia family on December 03, 2021, 12:18:40 PM

Quote from: lizarder on November 26, 2021, 12:43:54 PM

Non-Fungible Tokens represent something unique, such as some real life valuable object, asset or service, they have a clear future from every development done, and that's why many people are attracted to NFT, the concept offered is quite different from before, NFT has two things that are quite popular, first the second game is artistic value and this can be traded freely and without restrictions, not even that many rules are offered by the NFT.

NFT is a digital asset like crypto in general and the uniqueness of NFT has a high selling value. if I'm not mistaken the first time I heard of NFT punk on the ERC-20 network with a selling price of millions of dollars. who would have thought that just a piece of digital art could attract investment and increased market cap. The emergence of NFT-based projects has attracted public attention so far, as well as warm welcome from various circles such as artists, music producers etc.

If the market succeeded to get an expanding growth in market cap, this doesn't really mean that it attracted investors. Imagine why should anybody pay thousands of dollars (even millions) for a digital art!? There are two scenarios: One is that somebodies are using this market to wash dirty money (Money Laundering), the Second is someone or a group of people start making fake trades to deceive others who will think that those digital arts are investment opportunities.

yes, those 2 scenarios are plausible reasons. sometimes I personally still don't believe that NFT can have such a fantastic selling point, although I agree that this scenario is more of a money laundering part. but as long as we can take advantage of this trend to take profit, why not? I mean leaving after making a profit.

Kavelj22

legendary

Activity: 1778

Merit: 1474

🔃EN>>AR Translator🔃

Quote from: Insomnia family on December 03, 2021, 12:18:40 PM

Quote from: lizarder on November 26, 2021, 12:43:54 PM

Non-Fungible Tokens represent something unique, such as some real life valuable object, asset or service, they have a clear future from every development done, and that's why many people are attracted to NFT, the concept offered is quite different from before, NFT has two things that are quite popular, first the second game is artistic value and this can be traded freely and without restrictions, not even that many rules are offered by the NFT.

NFT is a digital asset like crypto in general and the uniqueness of NFT has a high selling value. if I'm not mistaken the first time I heard of NFT punk on the ERC-20 network with a selling price of millions of dollars. who would have thought that just a piece of digital art could attract investment and increased market cap. The emergence of NFT-based projects has attracted public attention so far, as well as warm welcome from various circles such as artists, music producers etc.

If the market succeeded to get an expanding growth in market cap, this doesn't really mean that it attracted investors. Imagine why should anybody pay thousands of dollars (even millions) for a digital art!? There are two scenarios: One is that somebodies are using this market to wash dirty money (Money Laundering), the Second is someone or a group of people start making fake trades to deceive others who will think that those digital arts are investment opportunities.

Insomnia family

member

Activity: 868

Merit: 10

Quote from: lizarder on November 26, 2021, 12:43:54 PM

Quote from: Pffrt on November 08, 2020, 11:22:07 AM

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

Non-Fungible Tokens represent something unique, such as some real life valuable object, asset or service, they have a clear future from every development done, and that's why many people are attracted to NFT, the concept offered is quite different from before, NFT has two things that are quite popular, first the second game is artistic value and this can be traded freely and without restrictions, not even that many rules are offered by the NFT.

NFT is a digital asset like crypto in general and the uniqueness of NFT has a high selling value. if I'm not mistaken the first time I heard of NFT punk on the ERC-20 network with a selling price of millions of dollars. who would have thought that just a piece of digital art could attract investment and increased market cap. The emergence of NFT-based projects has attracted public attention so far, as well as warm welcome from various circles such as artists, music producers etc.

lizarder

hero member

Activity: 1722

Merit: 895

Quote from: Pffrt on November 08, 2020, 11:22:07 AM

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

Non-Fungible Tokens represent something unique, such as some real life valuable object, asset or service, they have a clear future from every development done, and that's why many people are attracted to NFT, the concept offered is quite different from before, NFT has two things that are quite popular, first the second game is artistic value and this can be traded freely and without restrictions, not even that many rules are offered by the NFT.

MarjorieZimmermanGinger

hero member

Activity: 1540

Merit: 812

Leading Crypto Sports Betting & Casino Platform

Quote from: Pffrt on November 08, 2020, 11:22:07 AM

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

The hottest thing right now is NFT, almost everyone is talking about NFT, NFT is actually more independent than Project Defi, but many say NFT is a project that relies on hype, even though at this time I still believe NFT is much better than Project Definition, professionalism and Characteristics NFT is much different from the Defi project and many people are interested in NFT, which is a development and many advantages they offer.

asyakashi

sr. member

Activity: 1918

Merit: 256

DGbet.fun - Crypto Sportsbook

The usual NFT price is more expensive than the tokens that are in the market. Because NFT is created limited with different variants usually only one each type. NFT is a sign of ownership of art in digital form. The price, usually determined by the creator himself at a very high price. Anyone can make an NFT and then sell it in the market if the NFT is attractive.

yohananaomi

sr. member

Activity: 2436

Merit: 267

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: jeungo on November 16, 2021, 04:17:27 PM

For me, this is some graphic information that is drawn and must be unique and limited to buying and selling. Only for a full-fledged system in which it will be worth real money should be the system of control and respect for the rights of intelexible universities, which would not be copied and it would be illegal.

true, but it is also used to certify the ownership of an item. the most common is, nowadays NFT is indeed used to buy and sell digital art. What is purchased here is the NFT, as a sign of ownership of a work of art in digitized form.

it's still fairly new and will it last? Of course, for some who have values such as games, it can be done, but I doubt if art will be digitized because people are used to real and visible forms and can be displayed. and many things that might be done, of course, need a change of perspective for this to work well.

Pahom

sr. member

Activity: 356

Merit: 252

FRX: Ferocious Alpha

Quote from: Pffrt on November 08, 2020, 11:22:07 AM

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

Non-fungible token (ERC721 standart) is a type of token, each sample of which is unique and cannot be exchanged or replaced by another similar token, although tokens are usually interchangeable. Projects release their own NFTs so as to reward community members and attract attention. If the project that you have an NFT of is successful, you will be able to sell it then for a good price.

tygeade

legendary

Activity: 2086

Merit: 1058

Quote from: Pffrt on November 08, 2020, 11:22:07 AM

I have been watching the term NFT in different projects listed on uniswap but I can't figure out what actually does it mean. There's something like NFT price which is probably greater than the token price. So, what's it exactly? How it is related to the project token?

NFT can't keep up being this big. I believe that there is going to be NFT hype this much and for this long, there is nothing that could be happening that can sustain this for long term. Think about how much money is involved in the NFT world, that would be awesome if it happened for any other thing because it would definitely make a great profit for it and could be sustained if it was done to something that was already good and it just added on top of it instead of taking NFT from zero to this high level.

Let people spend their money on pictures for now, if there is no utility then there is no money for me, it could be coin or token or NFT or anything if there is no way that you could use it then there is no profit to be made for me.

Sayeds56

copper member

Activity: 1316

Merit: 715

Eloncoin.org - Mars, here we come!

Quote from: jeungo on November 16, 2021, 04:17:27 PM

For me, this is some graphic information that is drawn and must be unique and limited to buying and selling. Only for a full-fledged system in which it will be worth real money should be the system of control and respect for the rights of intelexible universities, which would not be copied and it would be illegal.

True, it is Digital art with unique Block chain address. NFT Market making Headlines in all social media and is growing very fast. NFTs are now being used in gaming as cards. Many NFT platforms are now launching their own coins which will be used for buying/selling NFTs and as well for staking to earn passive income. The use of NFT is as follows:

Fashion and Dresses
DeFi NFTs
Events and ticketing
NFT community Platform
Metaverse
Virtual land.
Digital identity.

https://www.google.com/search?q=use+case+of+nfts&oq=use+case+of+nfts&aqs=chrome..69i57j0i512.7591j0j15&sourceid=chrome&ie=UTF-8

jeungo

full member

Activity: 700

Merit: 100

For me, this is some graphic information that is drawn and must be unique and limited to buying and selling. Only for a full-fledged system in which it will be worth real money should be the system of control and respect for the rights of intelexible universities, which would not be copied and it would be illegal.

pangu

hero member

Activity: 2954

Merit: 641

CoinMetro

Introducing The Sandbox Alpha
https://medium.com/sandbox-game/introducing-the-sandbox-alpha-2052db44a9f9

void_dot_games

newbie

Activity: 4

Merit: 0

Non-Fungible Tokens (or NFT) are digital assets that represent real-world collectibles recorded in smart contracts. They are unique and are irreplaceable by the other token.

Users sold some of the popular NFTs for millions of dollars! The reason was either they were associated with celebrities, or the hype around them made the prices soar real high. One such example is musician Grimes, who sold her digital art for more than $6m.

There is also a new trend of Play-to-Earn revolving in the market that incentivizes players for playing the games. The game also has characters, weapons, armor, etc., all built as NFTs. It allows users to upgrade their weapons and trade them for a higher price.

VOID is one such multiplayer online game that comes up with the concept of Play-to-Earn and has all gaming utilities built as NFTs. Some of the premium NFTs include Etna Arena, Armx, Harpoon Gun, Lootbox, etc. Void harnesses the Solana blockchain and has gained trust from a majority of industry players. http://void.games

Samurai trieng

member

Activity: 1060

Merit: 11

In my opinion, NFT is a digital asset that represents unique real-world objects to express all creative ideas, thoughts, and works of art in the form of images, music, game play and even short videos. Currently NFT is very booming among crypto users because used as access to play games that can make money.

Topic: What is NFT? (Read 1169 times)