Quote from: btcsmlcmnr on Today at 05:56:02 AM

Quote from: Maus0728 on February 28, 2021, 05:49:43 AM

So I am reading and researching a lot of stuff regarding the benefits and real use cases of NFT's, however there are still lots of unanswered questions regarding its concept. Based on what I have understand, though, NFT's are just a digital version of the traditional document "Certificate of Authenticity" or COA that has the verified signature and important elements provided by the artist in it right?

The hype that is on going with NFT brings the past stories back. Cryptokitties created a hype of games on Ethereum blockchain and I remember the Deep Onion altcoin tries to give ownership proof, certificate for crypto users. Over $1 million for one virtual cat because it is an unique virtual cat. It's mad.

NFT get a big support from Elon Musk and in this time this support makes sense for NFT. People are blurred by the big sales with NFT but do they realize that they can be able to sell the same in real auctions?

NFT is interesting but I would like to see it grows and is used for smaller items that are more meaningful in life. Big deals are only tools to advertise NFT and make it more popular.

Just wait for the Bubble to burst, real world applications will emerge then. People are jumping in because of FOMO and I highly doubt that any sensible collector would even think about paying millions for a virtual cat or a punk. And those who are actually spending millions for these stuffs, do they even take a good look at it? No they don't, cause it's not art at all, it's all about money, sure enough some will make fortune but others will fail miserably while the bubble will burst and they will end up blaming the Blockchain technology for their own stupid decisions. But on the good side, NFT, Defi and Blockchain technology as a whole will gain enormous adoption because of this trend as you said "Big deals are only tools to advertise NFT and make it more popular.".