Are NFTs overhyped?

Nick Freiling
12 replies
Everyone's talking about NFTs. Are they overhyped?


Misha Krunic
I'm not sure what to vote on, because I don't have enough information yet. Personally, I'm not that attracted to purchasing NFTs.
Hamed Baatour
surly 110% overhyped it's all FOMO-based investing and this strategy time and time again proved that those things do not have any tangible value in society. I would never trust anything that triples in value with a Tweet or an article. in a time of crisis, everything returns to its true value, and for those who believe in this get rich quick schemes, good luck eating that NTF during an economical collapse!
Alina Ihnatiuk
Hey! In fact, this should not be seen as art, but as an investment.
Sav Cooper
@antonovna For a long time, fine art has been seen as an investment by those who purchase it. I feel like most likely many NFT will depreciate in value given how speculative the current environment is but high profile sales would be similar to buying a Rembrandt or Calder.
Oyetayo Oyewolu
In no way are NFTs overrated for the primary fact that it's leveraging the latest web technology "Blockchain". From my opinion, there is still a lot of room for growth. Most of the present NFT projects would fail down the line but the ones that are successful would be worth a ton. We had the ".com bubble" in the second phase of the internet era, this is the same way we're currently having the bubble effect that's being experienced. Don't forget the second phase of the internet era has given us platforms like Facebook, Amazon, Twitter, Paypal and the likes but not forgetting failed platforms like MySpace, Google+, Hi5, Yahoo🙈 and the likes.
Oyetayo Oyewolu
@nickfreiling Hi there, just launched a project on PH named COshots, would love to get your feedback kindly review... thanks.
I think like any new market, it is bound to create unreasonable surges of interest. Compare it to the crypto and dot-com boom. There's surely a lot of utility to NFTs, but as it still has an equilibrium to find.
In terms of opportunity and potential down the road, then No. Absolutely not. For example in ticketing or real estate. It's a game changer. But with what's being bought and sold now in digital arts, then yes. 100%. I just don't think a cat meme is worth 500K.
Lauren Proctor
If we're talking about ownership of jpegs then yeah, I think we're living in a bit of a bubble. But if we think about NFTs as a new technology that tracks ownership and membership, then no, I don't think NFTs are overhyped.
Kirman Smith
NFT token is a really effective and modern way to invest money. I was checking various solutions to purchase it and is a great source, where are a lot of modern authors who want to sell their pieces. NFT is unique, and this makes NFTs particularly valuable because they're one-of-a-kind.