Quote from: Findingnemo on Today at 10:24:44 PM

Quote from: jjbanks994 on Today at 09:06:00 PM

I don’t know about you, but it looks like we’re in the ICO stage (2017) stage of NFTs. Quick cash grabs, high floor prices, etc.

Beyond art, I see so many other applications for NFTs. Example: Michael Jordan creating a fan engagement platform with NFTs, companies like 4K turning physical goods into NFTs to leverage, music platforms that sell NFTs to redeem for experiences, etc.

What other applications do you guys see for NFTs?

Did ICO last longer after the hype? No, right that is what eventually will happen to NFT as well in my opinion.

Arguably ICOs evolved into IEOs and IDOs and such, with much more reasonable amount of money being raised. So I think it's as clear as simply fading away.
I agree NFTs are widely overvalued, but just like raising money for new altcoin projects has remained popular, so will these new tokens I imagine.

Quote from: Findingnemo on Today at 10:24:44 PM

Someone started the craze and now its trending with no actual utility. I like the non fungible token idea but it is not really too great to involve them in every sector.

There is utility these days in modern NFT collections, from the obvious staking and DeFi-based yield farming, onto it being used as access for physical and virtual events or places. It seems insane right now, but if Facebook and others are successful with their Metaverse development in the future then the value of avatars are suddenly going to appear more realistic imo.

People thought the bubble had popped with CryptoKitties in 2017, but it didn't. Then in March after mainstream exposure, before that's when it really got going. Just like altcoins 99.9% of them will fail and become irrelevant, already 90% have lost most of their value etc, but seems obvious that some will continue to survive and thrive, even if not the like of cryptopunks or bored apes.

I also think buying a Picasso for millions is madness, as you can simply find your own copy, download it and print it out, and it's nothing more than some paint on a piece of paper woth $$ at best. But clearly this hasn't devalued his collection, neither the number of copies nor the number of fraudulent pieces. Sometimes some perspective is good.