For what I know, crypto behaves in strange and bizarre ways. First it was the ICO hype. Then came the "De-Fi" hype. And now it's the NFT hype. Who knows what the next big thing in crypto will be?
The market will keep on coming out with new names and people will go after them without a doubt as everyone thinks that it is money to be made during the initial stages of the project. The ease at which a new innovative structure is introduced are getting faster by the day and i am not surprised by the hype they could create in a short period. 
Topic: What's with the NFT hype? - page 2. (Read 277 times)
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Who knows what the next big thing in crypto will be?
Thoughts?
Who knows what the next big thing in crypto will be?
Thoughts?
That would be a hard puzzle to crack so we just have to wait and find out what it would be but it's worth noting that we'd still have another exciting trend to deal with so it's kind of like a norm in the community right now. NFTs have been around for around 2 years or so but they only started gaining attentions around the end of last year and the beginning of this year. The NFT trend should continue for the next couple of months, it won't take long before the hype dies down. Don't forget defi is the fuel for the current NFT trend.
Still don't get why some people place so much importance on nft, I saw a tweet from cz about a guy who claim he don't own a house nor a car yet throw around $69 million to buy an NFT art, still trying to figure out point behind such inappropriate spending, just sounds plain stupid to me.
It looks like people are throwing millions of dollars at NFT, but they are actually paying with Ether, and I seriously doubt that these buyers are some people outside of crypto who yesterday learned about NFT and today decided to buy them with their fiat money. Most likely the NFT buyers are people who got rich from crypto - early ETH investors who bought thousands of ETH below $10 and now have x100 profit to play with. If/when Bitcoin crashes, the NFT hype will crash too.
The certificate is based on blockchain technology, which (again in a very simplified way) is a distributed and decentralized database, which ensures greater security, and the system itself is transparent and each of us can trace literally every transaction registered there. Staying with the example of a movie with a cat - if we create a token dedicated to him, we will put it for sale on the Superrare platform and someone will pay us 2 Ethers for it (the Ethereum cryptocurrency - 1 Ether costs about $ 143), then every internet user can see this transaction ( the Etherscan search engine is used for this). Even if the movie is distributed and will be on the disc of every Internet user, only the token holder will be able to claim the title of its owner. Viralism naturally influences the value of the work.
.....It seems to me that companies are joining the NFT hype with the aim of making money in the least time possible.
This is one of the main reason why some of the early NFT supporters would pay an insane amount of money for a digital "art" that looks normal to us and not worth even a penny. The NFT market would still be struggling right now if they haven't done that. They want to attract as many popular artists and companies involved in the industry as they can......It seems to me that companies are joining the NFT hype with the aim of making money in the least time possible.
This is one of the main reason why some of the early NFT supporters would pay an insane amount of money for a digital "art" that looks normal to us and not worth even a penny. The NFT market would still be struggling right now if they haven't done that. They want to attract as many popular artists and companies involved in the industry as they can. 
Some people are spending millions of dollars on NFTs like crazy these days. I've seen a case where a so-called NFT art sold out for million of dollars (USD). It turned out that the so-called NFT art was simply an image available on the web for free. I can't understand why somebody would pay ridiculous amounts of money for something that can be easily copied from the Internet? Am I missing something here?
For what I know, crypto behaves in strange and bizarre ways. First it was the ICO hype. Then came the "De-Fi" hype. And now it's the NFT hype. Who knows what the next big thing in crypto will be?
Thoughts?
For what I know, crypto behaves in strange and bizarre ways. First it was the ICO hype. Then came the "De-Fi" hype. And now it's the NFT hype. Who knows what the next big thing in crypto will be?
Thoughts?
Hot air.
It is ICO v2.0... Uhm no it is v3.0 because deFi was v2.0
There is absolutely zero reason for something like that to exist. It doesn't make a slightest bit of sense. People are literally selling their PGP keys and whoever buys it only buys it so he can sell it to somebody else.
Yes, they are normal digital paintings, but if a digital art got attention from people, it can worth millions. The digital paintings can be many, but only one of it is tokenized, and the tokenized one is the one that worth the millions while the remaining ones that are not tokenized worth's nothing. The owner of NFT owns a token that proves he/she is the right owner.
I guess it's all about "notarizing" records of digital art on the Blockchain after all? It's a crazy world we're living these days where people pour money into anything that's the "hype of the moment". If I had the money, I would've invested it on something else. Paying millions of dollars on a painting recorded the Blockchain is completely insane. Who knows what will come up next on crypto land?
Most recently, a digital animation of a Pringles "Cryptochip" sold for thousands of dollars on the market. It seems to me that companies are joining the NFT hype with the aim of making money in the least time possible. As long as there's money to made, nothing else matters. Eventually, the hype will fade away as people move on to the next big thing in crypto. Whenever the concept of an NFT will remain a success or turn into a failed experiment, it's yet to be determined. Who knows what the future of the crypto/Blockchain space will be as governments start cracking down the industry with heavy-handed regulations? Just my opinion
I can't understand why somebody would pay ridiculous amounts of money for something that can be easily copied from the Internet? Am I missing something here?
Yes, they are normal digital paintings, but if a digital art got attention from people, it can worth millions. The digital paintings can be many, but only one of it is tokenized, and the tokenized one is the one that worth the millions while the remaining ones that are not tokenized worth's nothing. The owner of NFT owns a token that proves he/she is the right owner.
Some people are spending millions of dollars on NFTs like crazy these days. I've seen a case where a so-called NFT art sold out for million of dollars (USD). It turned out that the so-called NFT art was simply an image available on the web for free. I can't understand why somebody would pay ridiculous amounts of money for something that can be easily copied from the Internet? Am I missing something here?
For what I know, crypto behaves in strange and bizarre ways. First it was the ICO hype. Then came the "De-Fi" hype. And now it's the NFT hype. Who knows what the next big thing in crypto will be?
Thoughts?
For what I know, crypto behaves in strange and bizarre ways. First it was the ICO hype. Then came the "De-Fi" hype. And now it's the NFT hype. Who knows what the next big thing in crypto will be?
Thoughts?
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