Will NFTs make a comeback? - page 2.

stomachgrowls

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Quote from: Abiky on November 15, 2024, 04:08:10 PM

It's been a while since all of the action moved away from NFTs. All of the hype is on "meme" coins and AI-based tokens. Popular NFTs such as CryptoPunks, Pudgy Penguins, and CryptoKitties have lost a considerable amount of value. If you bought them in the early days, now you'll be left with less money in your pocket. I'm not sure if the market turning bullish will liven up the hype once more.

Do you think NFTs will make a comeback? If not, why? Which NFTs are worth the investment these days? Your input will be greatly appreciated. Thank you very much.

We do know that we do have that so-called "Market Narrative" on which there would really be that a specific trend on which it will really be that focusing on where the community is really that focusing into.
If we do say that we are on AI narative then we would be seeing tons of similar project which is based into this one. We've been through that NFT market trend wayback into those previous years but
actually it isnt really that something that being removed or being forgotten because if we do really tend to look at on nft marketplaces then you could really be still able to see some
volume into it on which simply means that there's still that a demand and to those who are interested to it.

Wayback into those previous years where NFT or with those pixelated images did really end up on having some insane values or simply you could really be able to tell into yourself on how the heck
they do get those prices with those images? Grin

Feel sorry for those who do end up on dragged with the hype. If there are those people who do make insane amount of money with NFT's but in the other side on which
there are tons who do loses up too.

legiteum

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I don't see it happening.

The problem is that NFTs are a solution in search of a problem.

An NFT is basically a contract between two entities based on a key pair--but a legal contract is meaningless if you can't bring it to court, and the only way you can bring a dispute to court is if the entity is (ultimately) an actual human being. (I get there are nuances to this, but at the end of the day a private key can't take somebody to court).

And meanwhile, an NFT has no advantages over a plain old fashioned contract.

And on the flip side, the propensity for NFTs to be scams is rampant since they are basically contracts and... people don't read contracts.

And even when they do, contracts can be really complicated, and they can easily be used to rip people off when they are a one-off like an NFT.

So as soon as NFTs make any sort of comeback, they will immediately resume their reputation for being almost entirely scams, and then they will die again.

albon

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Quote from: Abiky on November 20, 2024, 10:58:37 AM

Well, Blackrock is interested in RWAs (Real World Assets). They're digital representations of physical items on the Blockchain. Something tells me the future of collectibles is digital, not physical. At some point, I believe NFTs will garner attention again. We're still early to the game. I understand most NFTs these days are "rug pulls" like you've said. But that doesn't mean it's game over for the industry. With a focus on utility, NFTs might go somewhere.

Investors these days are focused on making money, so we should expect the market to remain highly-speculative within the short-term. Once Blockchain becomes a part of our daily life, things won't be the same. It will be quality over quantity, instead of all the other way around. What NFTs need is persistent storage. Both Arweave and SWARM bring a promising future. Who knows what will happen next? Cheesy

Anything can happen, as no one can predict what will happen in the future.. NFTs have caused a huge buzz in the past, but with the emergence of other trends, investors' attention has turned to them.

There are many Utility NFTs I owned at some point,, but after a long time, the value of what I own has decreased by more than half, and some of what I still own has completely lost its value. Of course, I know that the NFT industry has not ended and is still present, but it is moving very slowly.

What I see is that trading and investing in altcoins is more worthwhile than that. Even selling an NFT you own requires luck, and it may take a lot of time unless the collection you bought from has demand, high daily trading volume, or is supported by an innovative project. As for me, I do not like this sector and did not believe in it from the beginning despite the success it has achieved, and each person has his own perspective and decision regarding what he sees as appropriate and believes in.

Abiky

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Quote from: mich on November 19, 2024, 04:18:26 AM

I do not think will see a comeback for the NFTs. They were very popular a few years ago. But now there is alot of people that lost much money on them I think it was more like just a phase.
It was interesting for me but I did not buy any of them. Then we did start to see so many 'rug pulls' and lawsuits for them. I do not think they will be so popular again. And I am fine with this.

Well, Blackrock is interested in RWAs (Real World Assets). They're digital representations of physical items on the Blockchain. Something tells me the future of collectibles is digital, not physical. At some point, I believe NFTs will garner attention again. We're still early to the game. I understand most NFTs these days are "rug pulls" like you've said. But that doesn't mean it's game over for the industry. With a focus on utility, NFTs might go somewhere.

Investors these days are focused on making money, so we should expect the market to remain highly-speculative within the short-term. Once Blockchain becomes a part of our daily life, things won't be the same. It will be quality over quantity, instead of all the other way around. What NFTs need is persistent storage. Both Arweave and SWARM bring a promising future. Who knows what will happen next? Cheesy

mich

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I do not think will see a comeback for the NFTs. They were very popular a few years ago. But now there is alot of people that lost much money on them I think it was more like just a phase.
It was interesting for me but I did not buy any of them. Then we did start to see so many 'rug pulls' and lawsuits for them. I do not think they will be so popular again. And I am fine with this.

Abiky

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Quote from: JeromeTash on November 15, 2024, 04:58:16 PM

Just like the ICOs, IDOs, IEOs were forgotten, so will NFTs. This time round, I believe there's no comeback for them. I think people have eventually outgrown them and are so much engrossed into meme coins, which are so many by the way. Personally, I didn't find NFTs worth investing into, even when they were so popular.

When the altcoin season official begins, we shall know all that will transpire.

NFT's biggest drawback was having their content stored on centralized servers. If data were persistent, interest in NFTs wouldn't had faded. Why invest in something that's not built to last? Some of the old NFTs that were popular back then, no longer exist. At least, the contents of such NFTs. Proof of ownership is still recorded on the Blockchain.

A pity, because NFTs had big potential. Companies like Pringles and Sega went as far as launching digital art and collectible items of their own. This could be the future of collectibles as we know them. No need to hold physical items that take space. Everything will "digitized" on the Blockchain, accessible anytime, anywhere. Who knows? Maybe NFTs will be popularized again. Hype comes and goes in crypto land, so anything's possible. Let's wait for the next altcoin season to see what happens.

Issa56

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Quote from: Abiky on November 15, 2024, 04:08:10 PM

It's been a while since all of the action moved away from NFTs. All of the hype is on "meme" coins and AI-based tokens.

What most people don’t understand about crypto is that, everything is season, and it’s definitely going to come and go. Most of people made money during NFT season, but people hardly talk about nft now, and I think the season is gone, and it’s not coming back. Time will come which we will see another trend, we might not really hearing much about meme coins, and AI-based tokens which you just talked about. The only coin which I will say doesn’t have season is bitcoin, but others are just trend.

Quote from: Abiky on November 15, 2024, 04:08:10 PM

Popular NFTs such as CryptoPunks, Pudgy Penguins, and CryptoKitties have lost a considerable amount of value. If you bought them in the early days, now you'll be left with less money in your pocket. I'm not sure if the market turning bullish will liven up the hype once more.

Those NFT’s price might not increase even when there is bull run, the season has passed, and even if they will be increasing, it might not really be much, but if we are in the season, then you should expect massive pump from it. So if you are making investment right now, then you should stay away from NFT.

jaberwock

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Quote from: danherbias07 on November 18, 2024, 09:09:24 AM

I think if there were an online game that would inject this kind of technology then there might be a chance for NFT to return. In my opinion, it's best suited in games and if it can become a widely popular one then I bet many people will come buying and selling their NFT and the demand will soar. Let's say in-game items can be made as NFT, especially the legendary or unique items and they can really sell it for cash or buy it while the game will make some money on the transaction fees and the creation of NFT items should also have a price to keep the game controlled from mass selling or buying.
I once sold my own character in an MMORPG game and I can say it was worth it because first I enjoyed the game before I sold it and quit.

Yeah I agree, NFT's are going to be something making a good return without a doubt but only if they are used for something good. If you are dealing with something that is making a good profit, that has to be one with utility that you can use the NFT on, that way would be a lot better because those type of projects end up using the NFT for a good cause. One game I know uses it like premium membership, if you have their NFT cards, then you get a premium membership, that's what they did when they first started to gather enough money to start the game, and eventually they used that money to make the game. NFT's in that sense could make some money but this isn't really a great return, so we need to wait until there is a hype so we can't make a move right now.

danherbias07

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I think if there were an online game that would inject this kind of technology then there might be a chance for NFT to return. In my opinion, it's best suited in games and if it can become a widely popular one then I bet many people will come buying and selling their NFT and the demand will soar. Let's say in-game items can be made as NFT, especially the legendary or unique items and they can really sell it for cash or buy it while the game will make some money on the transaction fees and the creation of NFT items should also have a price to keep the game controlled from mass selling or buying.
I once sold my own character in an MMORPG game and I can say it was worth it because first I enjoyed the game before I sold it and quit.

ajiz138

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No, NFTs are not making a comeback they are moribund and abandoned by the community because the hype has passed, now all the attention is on hunting for memecoins which is like gambling they can find a 300x multiplier on the memecoins they find.

At least that's the hype I see now, while NFTs are no longer looked at, this is obsolete those who have suffered losses in the past in their NFTs will not be able to recover.

That every hype cycle we go through will be different, that's why NFTs were abandoned a long time ago.

STINKYBEE

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Quote from: X-ray on November 15, 2024, 11:10:23 PM

OpenSea's overall matrics looks pretty bad

can also roughly reflect the state of NFT, the trend isn't coming back, there might be several occasional big NFT coming out but I won't expect the overall NFT hype to be as big as it was back then, the thing is, NFT already labeled so bad after the previous NFT market crash, people also too fixated on speculating meme, lower entry barrier and faster money circulation.

I don't even know who still trades NFT these days.

Nft's were the tech version of the Beanie Baby collectibles fad. No one knew why they were valued so highly and after becoming the hottest new thing quickly plummeted to worthlessness after people realized they had invested in trash.Then, like much any pump and dump scheme, it was a scramble for everyone involved to sell as quickly as possible before everyone realized what they had paid big money for was completely worthless Grin

. These days ain't lot a stick around with or to invest their money in such ponzi scheme and I don't see the potentiality that Nft will comeback in market sadly after it ruined the people's trust.

o48o

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Quote from: nutildah on November 17, 2024, 12:53:08 AM

Sure. An actual use case for NFTs aside from jpegs would be thrilling. They can represent ownership of all sorts of things, and not just "ownership" in the physical sense, but they can also represent access levels to websites and data (or whatever), a car or AirBnB rental, licensing rights to this or that, and even something like acting as concert tickets. Everyone wants to just hypergamble on jpegs tho. Would be nice to see the industry mature a bit in this regard.

Yup, but as a cynical person, the reason for comeback is going to be the same as with meme tokens.

It's like an anarchist middle finger to traditional finances, led by people who don't have a clue how finances work, but somehow some of them are going to make more money with their casino attitude, then people with traditional finances.

TradFi has their fundamentals, while meme/nft bois have their pumpamentals. None of it makes sense and fact that people will make money without any good reason will be really annoying to everyone else

.

WillyAp

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I hope not, they congest networks and take people's dreams away.

uneng

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It looks like NFTs are over. Each new cycle the market raises a new hype around new elements and features. This season, it's time for AI projects, memecoins and airdrop campaigns on Telegram.

Meanwhile, too little is heard about NFTs and Blockchain games which were pretty popular in the previous bull run of 2021.

It shows us that NFT didn't have any practical usage, as it was everything about a temporary hype based on speculation. If the future will still bring a fresh concept of NFT, only time will tell. In my opinion, it's pretty possible to adapt NFTs to practical reality, it just needs popular projects and brands involved.

Huppercase

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Quote from: Abiky on November 15, 2024, 04:08:10 PM

It's been a while since all of the action moved away from NFTs. All of the hype is on "meme" coins and AI-based tokens. Popular NFTs such as CryptoPunks, Pudgy Penguins, and CryptoKitties have lost a considerable amount of value. If you bought them in the early days, now you'll be left with less money in your pocket. I'm not sure if the market turning bullish will liven up the hype once more.

Do you think NFTs will make a comeback? If not, why? Which NFTs are worth the investment these days? Your input will be greatly appreciated. Thank you very much.

The fact that open sea is now silent every where says alot about the NFT markets and that's because people are not buying again. People that bought expensive Jpeg images last bull run, there hasn't been any value added to their holdings, the value keeps depreciating, the more they keep reducing the bid to get customers to buy the lower demands keep coming and the liquidity around them is dried up, I can't even remember the last time I saw any post about NFT in my FYP.

Not long ago we saw Brc20 tokens and Ordinals like the new development on Bitcoin but that one's are forgotten quickly. I'm not saying regulations is good but the way people just create things the way they want need to be stop in my opinion. Creativity is allow but creativity for making money and running away just to try another hot cake thing to make more money makes this place looks somehow. I remember how some celebrities bought millions worth of NFT back then lol. Don't know how they will feel about crypto right now.

bitgolden

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I do not think so, at least not as much as they used to. We have seen the NFT world never making sense to many people, just like memes do not make any sense to anyone, but they do it for fun, and they did the same thing with NFT as well, just for fun. Memes did make a comeback already and if NFT's were to make a comeback, it would have started by now.

We have seen plenty of coins and tokens go more than double their price already, some memes already reached peak prices, and all time highs, whereas nothing in NFT world did that so far, so it is not really something we should be considering that easy to handle at all, doesn't really make sense. We shouldn't really be considering this as good way of making money at all, it has to be something that will take a while. NFT's will not get anything good, not right now, not soon. If they were to make a comeback, then we would have seen something by now and not really staying idle like at the moment they are doing.

piebeyb

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Actually, NFT should be used as a work of art, not a tool to make money, although maybe a good work of art should be worth more, but most of the people who are happy with NFT right now are because they only want to make money, not as a work of art, but everyone has a different view about NFT, but I have this view, for me NFT will remain popular for art lovers but for something else it seems difficult

Patikno

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Quote from: Abiky on November 15, 2024, 04:08:10 PM

Do you think NFTs will make a comeback? If not, why?

Waves will always come and go, for now we don't see the potential for NFTs again, that's because currently we are on another wave such as the Telegram mini apps, DePIN or RWA. Maybe in the future there will be a project around NFTs that will be able to increase the overall NFT trend.

Solosanz

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Altcoins NFTs are mostly dead now and it's hard to make it comeback, along with GameFi.

For now, Bitcoin NFTs aka ordinals are still surviving and it should went high at the same time Bitcoin price hit six figures.

I would say trading NFTs is way more scarier than meme coins, you can sell your meme coins instantly, but it doesn't work in NFTs.

nutildah

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Quote from: o48o on November 16, 2024, 06:37:32 PM

Also there might be some new format other than erc721 (and other platform alternatives to it), that no one sees coming, that would bring nfts to new highs.

Sure. An actual use case for NFTs aside from jpegs would be thrilling. They can represent ownership of all sorts of things, and not just "ownership" in the physical sense, but they can also represent access levels to websites and data (or whatever), a car or AirBnB rental, licensing rights to this or that, and even something like acting as concert tickets. Everyone wants to just hypergamble on jpegs tho. Would be nice to see the industry mature a bit in this regard.

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