Quote from: Abiky on May 20, 2025, 01:11:34 AM

Quote from: dumpsterhawk on May 13, 2025, 01:01:30 AM

This is wrong. A digital image can create real value. Just because you don't value it, that doesn't mean someone else doesn't. Just because you can create a copy of the picture, you still do not own the NFT. You can't copy the NFT, no matter what you do. It would be like saying that you can copy dogecoin by making another chain with the same name and picture and then give yourself coins. You have coins called dogecoin in that case, but they are not the real thing. Wink

Not if it's an image obtained from the Web. I mean, "copy and paste" JPEGs which are submitted by anyone as a "unique NFT" on the Blockchain. Real value comes from creative digital art or unique masterpieces not found anywhere else. NFTs with limited releases (supply) meeting such criteria, would surely become valuable in the long term.

Despite NFTs' potential to transform the collectibles industry, the hype is quickly fading away as people move on to the next big thing. These days it's all about "meme" coins, AI-based tokens, and "shitcoins" (like XRP). The market is so speculative these days, that any "garbage" can quickly gain traction and make a few early holders rich in the process. Utility-driven projects often see a chance for success (except Bitcoin). I hope things change in the future and trends like NFTs and ICOs make a comeback. Crypto land is full of surprises, so expect the unexpected.

The thing is, it can still have value even if it is a widely used image. It is not that simple. The NFT that I create is always going to be unique on the blockchain compared to the NFT you create, even if you use the same image as me. That is the whole point of this technology. Even when things are the same, they can be different from each other. I'm not saying that this is likely, but I am saying that the valuation thing is possible and that it should be kept in mind. I mean there were probably some examples where some NFTs had value not because of the art that they had, but because of who created them. The extreme example of this is someone famous creating an NFT series with a generic picture. I can totally see this having value, even if it is wrong.

Quote from: DeathAngel on May 21, 2025, 01:31:12 AM

It was a passing phase, a fad. NFT artists & creators made a lot of money. Lots of people got fleeced for a lot of money that they will never make back. NFTs are useless, they offer nothing, it’s just a massive scam. Similar to the ICO craze of 2017, NFTs were the trap of the last bull run. Be careful & don’t be a sheep.

NFTs are not useless, it is a great technology and is widely used in DeFi. Don't confuse image only NFTs with the actual goals behind the technology.