Quote from: Cling18 on June 17, 2022, 05:37:17 PM

Quote from: coco23 on June 17, 2022, 08:46:22 AM

Quote from: Tony116 on June 03, 2022, 02:36:35 PM

I don't understand what is the use of NFTs and what are the benefits of holding them in the long run, apart from the hype surrounding it, I see almost no utility.

I think NFT is also one of those trends in the market that comes when the bull market is dominating and its hype will end when the bear market arrives. Now many NFTs have dropped a lot and none of the hype stands out.

I do see a use case for them as "digital collectible", however that would require some form of standard for NFTs which currently doesn't exist. Now you can create NFTs on different blockchains in different forms (weblink that is without guarantee to work in a couple of years...) but nobody knows what will happen with all those in a few years. To hold NFTs for a longer time is currently extremely risky and I doubt it will pay off, most of them will probably go to 0.

I think having NFTs as collectibles is not worth it simply because NFTs don't work in the long run. They're just profitable in the beginning just like what happened to famous NFTs before. Despite the hype, they are still not able to maintain their value. Instead of buying and holding NFTs, it's better to invest with good potential coins.

Not all collectibles are valuable anyway. There are collectors that collects almost any things as long as it got their interest and they don't care if these are going to be profitable in the long run or not because they won't sell them. The same thing can be applied when collecting nft's. If to make a profit is our main goal then nft's can be a bad choice but cryptos are best suitable for that matter. @coco23 use case means something is useful but in the case of nft's they can only be a collectible and collectibles usually don't have a use case or purpose but they are only good for displaying. I don't know what you mean by standard but is it some kind of a class or quality? If yes then there are also nft's that are like that.