Why people buying NFT - page 2. | Bitcointalksearch.org

Devifajarina

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Quote from: bitcub on August 25, 2021, 01:25:41 AM

I just wonder why people buying NFT artworks like cryptopunks. I am not against NFT and I love it. I actually own some NFT games accounts like CB, Axie, Dpets because I am earning from it.. But for NFT artworks can you tell me what is the benefits. And why some of the people buying it?

This is what is called a work of art, art is expensive and cannot be judged from the actual selling or buying price, indeed no one is able to provide answers to works of art that people consider priceless, especially for those who like and have hobbies like this, we can't see the benefits of buying the artwork, if we don't have a hobby like this. That's why the artwork is sold at an unreasonable price, but there are times when the artwork can provide financial benefits for those who are able to use and utilize it.

lizarder

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Quote from: bitcub on August 25, 2021, 01:25:41 AM

I just wonder why people buying NFT artworks like cryptopunks. I am not against NFT and I love it. I actually own some NFT games accounts like CB, Axie, Dpets because I am earning from it.. But for NFT artworks can you tell me what is the benefits. And why some of the people buying it?

Everyone buys something they like not only because of future profits, but many people like this because of their hobby, I think cases like this happen a lot, people like works of art that many people think are priceless but according to certain people are works of art outstanding.

Because everyone has their own point of view in buying art, there really is no logic that can be explained to anyone, for people who can enjoy various types of art, art is not seen at a price, but art can only be seen by people who have certain hobbies.

Hamphser

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Quote from: SlimShadyMmp on September 02, 2021, 05:05:01 PM

Hey Visa bought a punk so basically I think it act as a souvenir of some kind to some people plus the fact that only you gets to have that nft and nobody else makes it worthy for rich people I think...just be very careful dealing with nfts

Yeah lets put up some link into this
https://www.cnbc.com/2021/08/23/visa-buys-cryptopunk-nft-for-150000.html

They bought it for $150k which i dont see for it to be worth in the first place, not to hate NFT things but i dont see for it to be worth like that but hey, the spending
is just really too small or wont really bother them at all considering on how big VISA is.

Just let them be on jumping with this new trend, thing here is that you are aware with the risk.

Fortify

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Quote from: bitcub on August 25, 2021, 01:25:41 AM

I just wonder why people buying NFT artworks like cryptopunks. I am not against NFT and I love it. I actually own some NFT games accounts like CB, Axie, Dpets because I am earning from it.. But for NFT artworks can you tell me what is the benefits. And why some of the people buying it?

Money is really cheap right now and a lot of people out there are looking for the next "Bitcoin event", where a small sum invested early enough can lead to stratospheric gains. The super rich have so much money flowing in every day that they can afford to throw it away on such meaningless items, then the people with much less sense think that these things are valuable and try to emulate the super rich by buying it. However it seems very much like a fools game, people like to compare it to artwork but I simply can never see a similar flourishing second hand market for these virtual "pieces". People buy art, in it's wide range of forms, because they like to present the unique physical object - but here you have nothing but a cookie cutter object existing in "cyberspace".

Abiky

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Quote from: letyouearn on September 02, 2021, 02:21:44 PM

People are buying NFTs now because this technology is new and they don't know how to estimate the value of such tokens. Just like they were buying altcoins in 2017. Most of them are dead now

They're only buying it with the hopes of making money in the least time possible. Believe me, most NFTs will fade into oblivion because they don't have intrinsic value. The only exception to this would be in-game items and certain digital collectibles. NFTs are just starting to blossom, so time will tell us whenever the trend will truly last or become a failed experiment altogether. I hope NFTs don't fail like ICOs did back in 2017. They have huge potential to take the world by storm.

If successful, NFTs could replace physical collectibles and art. Many NFTs have been sold at ridiculously high prices, making even kids filthy rich. I was impressed by a picture of a rock which sold for big bucks in an instant. I guess anyone can take a picture online and sell it to get rick quick. If kids can get rich, I don't see why an adult can't do the same. Just my thoughts Grin

LordMiguel

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there are article that covered the NFT. how it is a lucrative gen and why it is important. one thing good about it is that it give the owner a unique identification of that particular NFT. this means that no other person is allowed to own or create such NFT again. it gives the owner an exclusive right to own that art work. yes NFT is an Artwork that dipicts unique pictures which is onwed exclusively by thr buyer. No other person is entitled to own such work.

SlimShadyMmp

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Hey Visa bought a punk so basically I think it act as a souvenir of some kind to some people plus the fact that only you gets to have that nft and nobody else makes it worthy for rich people I think...just be very careful dealing with nfts

CaVO32

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Quote from: timerland on September 02, 2021, 03:26:53 PM

Quote from: bitcub on August 25, 2021, 01:25:41 AM

I just wonder why people buying NFT artworks like cryptopunks. I am not against NFT and I love it. I actually own some NFT games accounts like CB, Axie, Dpets because I am earning from it.. But for NFT artworks can you tell me what is the benefits. And why some of the people buying it?

Pure and utter hype.

Unfortunately a lot of projects which have no substance are getting pumped up because their prices are exploding and there is media attention.

People saying that NFTs have a future are right. But their future is probably a lot different from its current usage case as a means to speculate and flip JPGs for short term profit.

As this is the new hype in the community, people should be very careful buying these expensive NFTs because they may not have the value in the future that you want. Some are exaggerating their prices because it is the current hype. But think of its possible value 3 or 5 years from now, or when you decide to sell it in the market. Can it easily be sold? Who will be interested in buying your NFT item?

TheGreatPython

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Quote from: bitcub on August 25, 2021, 01:25:41 AM

I just wonder why people buying NFT artworks like cryptopunks. I am not against NFT and I love it. I actually own some NFT games accounts like CB, Axie, Dpets because I am earning from it.. But for NFT artworks can you tell me what is the benefits. And why some of the people buying it?

I understand that they see it as an investment and it is definitely something profitable to keep making money with something while also the price of it going up, but defi was like that as well and only a handful of places left after the hype is over. There were hundreds of pancakeswap copycats in the world and right now there are only like 5-10 good places in BSC while all others suck, so that means is maybe axie infinity could stay a bit relevant but all others may suck in the future.

I just do not know how long it will go, I can afford to get 3 axies and start fighting, I learned about it very well and I could pick great 3 axies for as cheap as possible as well, watched a lot of videos to learn about it. However that doesn't mean that I will do it, only because I have no idea if it will continue like this for a while or if it will start to suck in a month, no idea how long it will go.

timerland

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Quote from: bitcub on August 25, 2021, 01:25:41 AM

I just wonder why people buying NFT artworks like cryptopunks. I am not against NFT and I love it. I actually own some NFT games accounts like CB, Axie, Dpets because I am earning from it.. But for NFT artworks can you tell me what is the benefits. And why some of the people buying it?

Pure and utter hype.

Unfortunately a lot of projects which have no substance are getting pumped up because their prices are exploding and there is media attention.

People saying that NFTs have a future are right. But their future is probably a lot different from its current usage case as a means to speculate and flip JPGs for short term profit.

Bonenx14

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Quote from: kak uli on September 02, 2021, 01:42:58 PM

NFT has greater potential to continue to grow, Nft is a crypto that has better innovation and continues to be developed. nft is also a piece of digital art that is turned into crypto so most people are interested in holding NFT, I think this is the main reason. then many investors look to NFT because the token has many uses so that demand is always increasing.

If you refer to the main reason for NFT, then you should also look at the trend and the number of fans for NFT, because the basic concept of NFT is on digital games so that it can blend with digital works of art as well, I think that's the reason so many people prefer liked NFT at this point.

letyouearn

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People are buying NFTs now because this technology is new and they don't know how to estimate the value of such tokens. Just like they were buying altcoins in 2017. Most of them are dead now

Smitty Werben Man Jensen

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Quote from: kak uli on September 02, 2021, 01:42:58 PM

Quote from: bitcub on August 25, 2021, 01:25:41 AM

I just wonder why people buying NFT artworks like cryptopunks. I am not against NFT and I love it. I actually own some NFT games accounts like CB, Axie, Dpets because I am earning from it.. But for NFT artworks can you tell me what is the benefits. And why some of the people buying it?

NFT has greater potential to continue to grow, Nft is a crypto that has better innovation and continues to be developed. nft is also a piece of digital art that is turned into crypto so most people are interested in holding NFT, I think this is the main reason. then many investors look to NFT because the token has many uses so that demand is always increasing.

Until now, you could say NFT is really growing fast and many people are interested,
we can see a lot of people who are already making profit from NFT,
we'll see how far the progress of this NFT will be because it will definitely be interesting

pealr12

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Many are buying for the hope of making more profits out of it since most nft are through bidding only, while some other people buy for the sake of it, they have money and can afford to buy such to improve their status.

MaiQwaN

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Many people choose to have something exclusive. Those that only they have. Such possession gives them real pleasure. Others use this feature of such people to make money.
We are all very different. However, I prefer simple, ordinary things.

ivankoh

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In my opinion, NFT really offers a promising future for the popularity of crypto. What did the NFT have? Opensea dominates the NfT marketplace for most genres, AXS, Cryptopunk achieved over $1 billion in sales in just a short time. It is clear that buyers of these NFTs of all kinds have confidence in the future and its meaning, art is an array of miracles and of unfathomable value, if they had purchased earlier works of great value. value, that's really a bargain. Some NFTs on Opeasea are bought and sold profitably 25ETH in just a few days. Lol

kak uli

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Quote from: bitcub on August 25, 2021, 01:25:41 AM

I just wonder why people buying NFT artworks like cryptopunks. I am not against NFT and I love it. I actually own some NFT games accounts like CB, Axie, Dpets because I am earning from it.. But for NFT artworks can you tell me what is the benefits. And why some of the people buying it?

NFT has greater potential to continue to grow, Nft is a crypto that has better innovation and continues to be developed. nft is also a piece of digital art that is turned into crypto so most people are interested in holding NFT, I think this is the main reason. then many investors look to NFT because the token has many uses so that demand is always increasing.

imstillthebest

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they can also earn from it if they will resell it in a much higher price .
there could be some that buy nft artworks for collection just like what your doing in a real artwork where they kept it in a safe place .
some nft's are unique or rare and its a must have but for the nfts that are common , the demand for them can be not that overwhelming . since you love nfts why wont you expand your nft collection ?

bakasabo

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One of the reasons why they buy NFT is a believe in easy money. People are obsesses with stories when people sold NFT for thousands of dollars, after buying them for couple of dollars. They believe they can repeat that story of success. But the problem with NFT is that it is easy to buy it, but it is hard to find a buyer.

ali1177

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I think people are buying nft blindly just because of hype in the market as we all know that how was the hype of the bitcoin when elon musk tweeted about bitcoin so I think this is similar.

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