Quote from: ConcordeSST on Today at 08:56:01 PM

Quote from: ChiBitCTy on Today at 08:22:40 PM

IMO most NFTs are the definition of an overhyped fad that will not end well.. To me they are like zero utility alts, master-nodes, and current DeFi projects..they are mostly riding off the bitcoin/blockchain hype since everyone and their mom now wants in on crypto something but aren’t sustainable long-term. I mean most of it doesn’t make any sense really. Why would you pay all that money for weird pics that do absolutely nothing, or art that will just sit on your wallet that you’ll never look at until you go to sell them. I bought a few NBA Top Shot NFTs and wow, what a joke, The question I always ask myself with crypto stuff is what do the cypherpunks think..I believe they see NFT value in spaces such as proof of ownership that’s easy to transfer and safely stored..home/car titles, marriage license storage, ownership for gamers that they can move from one platform to the next etc.

For me I can’t help but think that most of these projects were wasted time spent to make money off hype/fads when it could have been spent trying to build Satoshis proposed no-3rd party escrow project utilizing smart contracts, or a better lightning network alternative etc.

While many will turn out to be nothing more than useless JPEGs, many won't and a lot already offer a great deal of utility simply from owning the NFT. How will you know the good from the bad if you ignore the space entirely? Where are all the people that dismissed bitcoin as an overhyped fad ten years ago? Poor I'd imagine. Remember, at the peak of the 2017 bull market, one could have easily argued that Bitcoin was an overhyped fad. Because, at that singular moment in time, it was. The world and the market weren't ready to accept Bitcoin at that time. But those who ignored the noise and held on are wealthy today.

Like any new business each year, thousands will fail, but some will succeed. And the ones that do.....

But bitcoin had very real, right now, worldwide utility and most who said it was a fad had no idea what a blockchain even was (warren Buffett types who don’t understand it and don’t want to). I don’t disagree that some art /collectible NFTs will be successful and long lasting, I just think most will fail and seems very hard to tell which will and won’t where it was easy to see btc and eth had massive upside from early on, for comparison. You don’t need crypto to not be poor lol. But I get your point. I’ll admit I’m sure there are projects I don’t know of that would possibly slightly change my mind. NFTs have tons of potential and utility value, but like smart contracts I feel like the best is yet to come. Though those things likely won’t be money makers. Just my 2.