Quote from: Abiky on July 30, 2023, 04:10:24 PM

Quote from: bakasabo on July 12, 2023, 12:48:49 PM

I have different vision. I think that NFT hype is over. Like every hype in crypto industry - it lasts for a year, maybe a bit longer maximum. Why do you think that hype isnt over? I see no loud articles in media about NFT, I see no scandals or scams connected with NFTs. People tried to restart NFT hype, when we had news that NFT now are on Bitcoin blockchain. This fact indeed worried a lot of people, as it made blockchain transactions cost more, but right now, one or two month has already passed and only few people remember about it.

The problem of NFTs was that it is easy to buy it, but it is hard to find a buyer. Now people have bought NFTs, and dont know how to sell it. They froze their money and have to wait and observe how values of their NFT go down (and yes, NFT prices went down heavily) or how inflation slowly kills their investment.

NFTs have no real utility other than being purely-speculative assets. Only a small fraction are actually useful. It's hard to turn a profit with your NFT, especially when people quickly move on to the next big thing in crypto. I see NFTs as a passing trend meant to enrich those who get early into the game. Whales and NFT creators are the lucky ones, while the rest are left behind in the dust. The hype will revive itself once BTC turns bullish for an extended period of time.

I'm yet to see whenever existing NFTs will become a big hit by the time this happens. I wouldn't suggest you go all in NFTs to help avoid huge losses in the long run. Who knows what will be the next thing to take the crypto world by storm? Just my thoughts Grin

NFTs have value based on ownership and origin, even if they are based on assumption. They made checking, finding, and proving digital differences easier. Speculation drives markets, not just NFTs. Bitcoin and altcoins are mostly dependent on guessing. Not going "all in" applies to all purchases, not only NFTs. NFTs may lead to more blockchain application in art, music, and real estate. NFTs may become more than a fad, however the future is uncertain