Why people buying NFT - page 5. | Bitcointalksearch.org

bitcoworld

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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 never invested in the crypto punks sadly, could kick my ass for that but last year I found NBA Top Shot, and was pretty interesting so I bought some of those NFT moments and made a lot of money when the hype about Top Shot peeked earlier this year. I think NFTs are a good way to make money if you manage to get early into the projects and buy stuff way cheaper

bakasabo

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The only reason I see why so many people are buying NFT is a pure speculation. They want to resell NFT while they are on hype.
I dont see any art in NFTs. As a picture, it can be counted as an art, a digital art. But there is no extraordinary behind it. If I will search for art or for pictures, I will simply google "pictures" or "pixel art" and will find way more interesting items.

I start to feel that NFT is a copy of a in-game skins, weapons, clothes and etc. What was popular to buy in video games 5-10 years ago, migrated to the Internet.

Jolankaa

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I think, because it's trendy now. Even contests are held in cooperation with the NFT. Here's a givaway from the Blockster, for example. https://blockster.com/blockdesk/1402_blockster-is-launching-a-new-nft-campaign-in-collaboration-with-enjin

big kid

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I don't really understand it too. IMO in time those NFT's only will lose their price. If they doing this to support NFT market it makes a little sence.

NeverSop

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I think, first, they like the idea of art… and then they believe in the NFT's trend towards minting or digitizing art into practice. NFT is a solution to help remove the rut from primitive identification mechanisms, the impact of intermediaries on the value of the work. So, owning an NFT kit at an early stage is a good guarantee for their benefit. The NFT is still in the early stages of this movement.

marine4u

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

But for NFT artworks can you tell me what is the benefits. And why are some of the people buying it?

Because it is in the segment as a work of abstract art. Speaking of "art", it means that it is not within a fixed price bracket, for those who do not have an artistic eye, they will not know the love and value of the work, but for those who have subject, they can buy it because it has something special they see, or simply because they love it. Art is macro when it comes to value.

DonFacundo

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Well I guess they can make money of it by selling it at high price, it's just like buy low and sell high but there are some people who likes NFT art work just for their collections. Me, I'm not a fan of NFT art work but only NFT games, it's a good investment than NFT art works.

thecodebear

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It's just people who got into Ethereum early and are very rich now and they haven't cashed out so they just have a ton of ETH and don't know what to do with it. So dropping a few hundred thousand dollars on some crappy image NFT is no big deal. Sure in a few years they won't be able to fetch $10 for it. But they're rich enough to not even care. It's just all hype and lots of early buyers who are whales now with nothing better to do than blow tons of money.

FinneysTrueVision

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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?

It seems like everybody on crypto Twitter has an NFT profile picture. I don't really get the attraction. I can see how having a unique image while preserving anonymity would be interesting to some extent but I can't imagine paying more than $5-10. People are paying insane amounts for cryptopunks. I'd rather just pay a talented artist to make me some custom personalized artwork I can use for my profile picture.

andeluna

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Its like buying a limited edition toy if a developer make a unique NFT then they will sell it for some investors and NFT player, because it has its own value the rarity and the developer making it a higher value NFT to sell in the online market. Thats why people buying NFT whenever they can sell it or make it a collection because it has a value like digital art.

DarkDays

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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 think this market force behind NFTs is all a matter of speculation. People have the idea that in the future the NFTs they purchase now might be worth much more.

The way I see it, it's a testing game and I'd imagine for some people dropping a few ETHs here and there is nothing when they can experience the NFT market, and the expected future return. Put simply, NFTs generally are just another hyped up thing.

letyouearn

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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?

The question is similar to "why people are buying some shitty modern art minimalistic drawings?"

There are too answers for this.

1) They know or see something that you can't see and understand. Something valuable for them.

2) They are just fools, trying to be trendy and pretending to have a good taste.

adzino

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All sounds like a hype. They say owning the NFT means you can prove the ownership (and originality?) of the art. But I still don't get it. Like why... You buy and art, someone can have the same exact copy of your art. You both see the same thing. OWN the same thing. Either everything is all crazy or I just don't understand the real value of NFTs. But all I know is that most people are buying it hoping to make some nice (quick?) profit. Do you guys think NFTs will still hold the same value after the hype goes down?

24Kt

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Quote from: DibiaVxosis on August 25, 2021, 04:23:08 PM

NFTs has been trending lately in the crypto space sometimes I really wonder why it got so much hype, well I think the NFTs coin are promising and a good source of investment that's why it got so much hype and also it's kinda promote creativity in the crypto space, what really baffles me is the high prices it's been sold for, like people are spending a whole lot of money just to own some graphics like I feel so amazed. With time I will get to understand how all of this works and would surely like to take part in it as well.

Aside from the hype surrounding in NFT today, some are just really good in marketing their NFT collectibles. But if you are a buyer, you should really think many times before buying one. First, you need to consider the artist who is selling the NFT art, will it fetch good price in the future? Do you think someone will buy the item if you decide to sell it in the market? Selling this would not be easy as not many people are interested in collecting digital art. So one thing also that you need to prepare, is if you can wait your chance when somebody notices your item. Bottomline, don't just buy any NFT art, consider you chances here first.

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NFT is the trending topic in crypto or Blockchain Economic.Crypto or NFT building a batter Investment way.

DibiaVxosis

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NFTs has been trending lately in the crypto space sometimes I really wonder why it got so much hype, well I think the NFTs coin are promising and a good source of investment that's why it got so much hype and also it's kinda promote creativity in the crypto space, what really baffles me is the high prices it's been sold for, like people are spending a whole lot of money just to own some graphics like I feel so amazed. With time I will get to understand how all of this works and would surely like to take part in it as well.

Silberman

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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?

You have answered your own question, the people that are buying any kind of NFT are doing so because they are looking to get benefits out of it, they want profits and that is the only thing they care about as I find difficult to believe that anyone is actually going to pay that much money for the love of art, you do so because you think it is going to be a good investment but unfortunately this is not going to be the case for 99% of those works and the people that bought them are going to regret doing so in just a few years.

isaac_clarke22

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

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Ain't with the hype of Axie, but pretty much because a lot of people especially around my area are not into too much technical stuffs like trading/investing. I haven't still tried that game I mentioned, but I am pretty sure people are into it not just because of the price of it, but the interactivity throughout the game.

armanhusni

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NFT or Non-Fungible Token is a crypto technology such as a digital certificate stating the party who owns the photo, video, or other virtual form (digital work), the NFT token can also be said to have many uses so that many people buy NFT as an asset.

iv4n

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Quote from: LongStand on August 25, 2021, 12:04:56 PM

People buying so many NFTs because they were adorable and people could make a lot of money flipping them that they clogged the Ethereum blockchain. NFTs have a lot of advantages, one of which is that they enable digital artists to claim ownership of the process. It used to be difficult to make money from files that people could freely download and distribute.

I will go with this, NFT can be adorable and interesting, at the same time they can be profitable. What more is needed for people to get hooked?
Probably not many NFT projects will survive the test of time, but some projects are here to stay I believe and that's what makes NFT market still interesting to many people.

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