When nfts first of all came out there is a lot of hype around it that it is going to be the next big thing. But is is quite surprising how it has died down so fast.
Are NFTs dying out?
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I do not believe that the non-fungible token will cease to exist because it's a niche that will grow very quickly in the future because it has a lot of features and advantages to explore.
I do not think they are going to be extinguished or anything like that, only that the massive speculation that we live with it and all that lack of control I do not think it was healthy and it was all a bubble and now they will have to readapt and look for a real functionality in the world to be able to continue existing and being useful.
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I will not say that but I can see that it is not gaining enough attention like it used to be before and a lot of people are not even trying to invest in them anymoreI had considered investing in some just for the heck of it but it seems like the sales of them have dropped off so much that it isn't even worth it. I have a friend who tried selling some of his artwork as NFTs and has set to sell a single thing.
I wanted to give this a bump.
Since posting the thread, a friend and I have made an NFT profile to sell some stuff on OpenSea. So far, nothing has happened.
It seems the only sellers are people who have huge followings. I haven't been able to sell one thing and we have close to 200 up.
I feel like NFTs are on their way out.
This is true! the nft is not gaining recognition as it were and it may be as a result of the decline in the cryptocurrency market generally because it could have effect on it as well.
It was gaining a lot of attention when it was first introduced but it is no more gaining attention like before. Someone like me has not bought any NFT in the past six months.
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Yes of course, NFTs have been fading for a long time now and I can tell you that in no distant time, we will stop hearing about NFTs. All those who invested in them will lose their money 100%. The problem now is that no one wants to buy, so those who owns NFTs can't even sell them if they wanted to.
In my country NFT projects continue to come out and even from important companies, also from many startups, I do not think they will be completely fade out, there are many companies that are innovating with them, surely they will find a more profitable use than they have had so far, it is a matter of time, what happens is that before they were only the object of speculation and we will not see those crazy prices anymore.
Well, for those who are interested in any of this project, I believe that this is something that they are equally looking forward to seeing the NFTs project becomes something that is standard and reliable. This is because it will ensure that their investment is not going to be something that is already a complete waste. When the project on NFTs doesn't stabilize itself, I don't see anyway it is going to become something that will hold out for a long time.
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I'm going to bet that NFTs are on their way out. I haven't heard much as of late in regards to NFTs either, but I think the way companies have started to block the idea of it, like most video game studios and companies. The fact that an NFT could be worth millions, only to one day be worthless, doesn't sound like a good investment to me.
It's a trend, a gimmick and won't be around for too much longer.
It's a trend, a gimmick and won't be around for too much longer.
I haven't heard anything about them either recently which is weired compared to how it used to be on every social media few years ago. It was around July I heard anything about NFTs last and it was Binance launching of Cristiano Ronaldo's "The Goat" NFTs.
It is actually a very good thing for me that I have never for once bothered about investing in any NFTs because the way program was designed, it's not something that I had much assurance that it is going to be reliable for a very long time the same way cryptocurrencies have been. It appears that I've made a very good decision on that.
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I am also not that much interested in NFTs. The fact of the matter remains that NFTs are popular in certain marketplaces only. This includes marketplaces where digital products are bought and sold with exclusive rights, as NFTs could be utilised in order to maintain the rights.
The simple truth is that I am very much comfortable with whatever I am doing with cryptocurrency right now. Even though the market of cryptocurrency have not been doing well as of late because of the bear market but I believe that in no distance-time, things are going to change for cryptocurrency and a lot of investors are going to see more profit in it. This is why I am not interested in looking at NFTs.
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