We obsess over trinkets, over status, over neatness, over pride, over amulets that represent our life as one well lived. It makes perfect sense though. We’ve been wired for it.
It’s hilarious to many, then, to see pixel art of apes, punks and cats go for small fortunes and for inane art and silicon valley mob squad tweets to fetch millions in mainstream auction houses.
However, we know it makes sense. If it doesn’t click for you yet, read the best NFT market analysis to date:
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i’m more intrigued by onomy’s plans to allow for storage of nfts from all chains in a single wallet. That will be damn huge for all of us
99.9% of what we are seeing is objectively trash that people can make in minutes. Nobody really cares about anything except the possibility of profit. NFTs have a place, but we are just looking at a mountain of useless garbage at the moment.
NFT as a “Technology” makes sense… However, scribbles sold by pure chance to a bunch of greedy turds is definitely not the future.
NFT’s will drop by beyond 90% in value once the bubble pops.
what about making art for art’s sake? I see NFTs as away to sell digital art. I buy what i like not worryed about make tons of money but i would not turn down 50k for one of my pieces.
the biggest hurdle is eth’s gas fees maybe eth 2.0 will fix that.
The way I see it NFTs are merely a way to commercialise your art and manage the right associated with the art. The underlying technology makes assignment of different kinds of rights convenient and easy and I think that’s where the value comes from. The value also stems from the issuer. NFTs true value will come from the fact that the issuer is verifiable. NFTs issued by statutory authorities dealing with title deeds, government identification etc have value because the source of issue can be easily independently verified by others. NFTs are even being used to identify shares of individuals in liquidity pools and again the value is derived from the issuer. The NFT art, while being a proof of concept so to speak is actually detracting from the underlying tech because the ridiculousness of some of what is being sold is restricting more people from seeing the true utility of them.
The delusion and self-deception is strong. You do you OP, but I think it’s all hot garbage
i think i am too poor to get it haha
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I love seeing posts like this! People will start to slowly but surely understand the practicality and real world as well as Web 3.0 uses for NFT’s. The smart contract is where the real value comes in for a lot of these projects. Its a literal revolution in technology! Not to mention being able to collect cool art work! I for one am extremely excited to see how this space grows and evolves.
https://i.redd.it/3re0sqfxn5c81.jpg
this is the best analysis for NFTs I’ve ever read
This is awesome, NFT is the future, it has created a lot of crypto adoption so far, I believe in it, and I know it will definitely drive more crypto adoption.
Most NFT projects like SURVIVE_P2E which is currently running their presale will do well because of the current adoption from P2E projects
If you support NFTs, you’re scum. Simple as that.
If you promote NFTs, you’re filth, Simple as that.
You are a liar, a cheater, a grifter, and a thief.
NFT advocates are cunts. Pure, unbridled cunts.
I actively hate you and your shitty monkeys, your pathetic, ugly, threadbare “metaverse” environments, and the smug, smarmy way in which you try and defend your blatant ponzi and pyramid schemes.
r/NFTBubble
Finally! Someone who says it like it is. NFTs have sooo many use cases, there are literally people doing gaming NFTs like Kitty Kart and getting hella rich off of it
While NFTs are definitely in a bubble, the overall sentiment that they’re worthless reminds me a bit of the early days of virtual accessories in video games where people debated why anyone would pay for anything that’s just a virtual, visual item in a game. Now it’s pretty accepted that there’s a large market for that. We’re basically in the “Horse Armor” stage right now.
Nice read, thanks!
I too think it is a bubble, but they are also here to stay, use cases will crop up that we can’t even imagine.
There was a free mint of an art photography collection a couple of days ago, which comprises the entirety of an early 20th century photographer’s archive, 10300 sg photographs. The idea was to have the work publicly available for anyone to go through while generating some income and buzz for the institute responsible for the archive.
This did happen but what also happened was that some of the people who got nfts started researching them and found info that wasn’t even known to the institute, and now that info will be added to the metadata, which will keep refreshing.
A living archive, held by individuals, constantly evolving. Interesting stuff.
Cringe
What I don’t understand is that, while there’s been plenty of NFT interest in art, the same hasn’t happened for the written word. We haven’t seen NFTs of articles or eBooks take off yet.
I think it’s because of right-click culture and the accompanying rage.
At least for eBooks, NFTs will change the prevailing business model of “pay-to-read.”
For a book, someone typically has to pay first before accessing the content.
But white NFTs, the business model changes to “free-to-read but pay-to-collect.” And this is the key to NFT’s future, I feel.
Once books become “free-to-read” but “pay-to-collect” then those who want to read for enjoyment will be able to read for free. But only those who want to feel “ownership” will buy NFTs for their collectability.
That’s why I believe the page-NFT can make that happen.
A book is but a collection of pages.
Each page is unique, each page is important. The book is only complete when all pages are collected and brought together. Therefore, minting each page as a separate NFT is what will create collectability.
Here’s an example of that happening right now. The first eBook to be minted as 435 separate page-NFTs.
[https://opensea.io/collection/a-beautiful-woman-of-science-the-book-nft](https://opensea.io/collection/a-beautiful-woman-of-science-the-book-nft)
It is never about doubting NFTs and the technology behind it. The fact is that trinkets gets their value from its rarity and scarcity which is the same concept behind a value of supposedly an Art NFT. But with increased number of NFT projects, only very few will be as scarce, these plethora of projects makes NFTs a very risky investment.
This is the reason why we need NFTs with some utility and NFTs with a real-world value, So that people don’t think that NFTs equal Risk.
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An NFT is like a really (REALLY) hot promiscuous lady having multiple affairs and the bf can’t do shit about it…
beautifully written. Makes me super duper bullish on what’s to come. I was especially surprised though to learn that the NFT image itself isn’t stored on-chain. It’s just the metadata lol.
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Nice one!
Invisible Friend here 0.001 ETH : https://opensea.io/collection/friendinvisible
Invisible Friend here 0.001 ETH : https://opensea.io/collection/friendinvisible