discuss Is NFT a trend?

[DuDD]

• Hello ,evey domainers
• NFT domain name transaction volume has increased recently, and its price also keeps rising
• When did NFT become popular?
  • Did you take the chance？If not ,will you buy a NFT domain?
  • let`s talk about it ,thanks in advance

 

[DuDD]

Seth Godin did publish a piece recently that he sees NFTs as a dangerous trap.

thanks for your reminding

• Every Domainer of us should be vigilant,Choose to invest in NFT according to our own situation
  

 

[bmugford]

There are lots of differences between physical and digital items. That Mickey Mantle rookie card, it is actually scare. Some Ja Morant NBA top shot dunk is artificially scarce.

I don't think the NFT market is much crazier than the actual sports collectibles market at the moment. So much is based on a gambling mentality. The sports card market is pricing out a lot of people who used to actually enjoy the hobby.

You see people open up boxes of sports cards today that cost $500 or $1,000 and pull like $50 or $100 in value out of it most times.

Some of my vintage graded sports cards are worth 10x-20x what they were a year ago. That is not sustainable.

While many vintage cards are actually scare, many of the newer cards are not. You could make the exact same argument as NFT, they are artificially scarce. A company just makes some random card, puts an autograph sticker on it, and gives it some random number low number...1/1, 1/5, 1/10, etc.

The vintage cards come from a time when they did not have value. Since they did not have value they weren't really cared for, so fewer exist today in good condition.

Brad

 

[equity78]

I don't think the NFT market is much crazier than the actual sports collectibles market at the moment. So much is based on a gambling mentality. The sports card market is pricing out a lot of people who used to actually enjoy the hobby.

You see people open up boxes of sports cards today that cost $500 or $1,000 and pull like $50 or $100 in value out of it most times.

Some of my vintage graded sports cards are worth 10x-20x what they were a year ago. That is not sustainable.

While many vintage cards are actually scare, many of the newer cards are not. You could make the exact same argument as NFT, they are artificially scarce. A company just makes some random card, puts an autograph sticker on it, and gives it some random number low number...1/1, 1/5, 1/10, etc.

The vintage cards come from a time when they did not have value. Since they did not have value they weren't really cared for, so fewer exist today in good condition.

Brad

And you know Brad that market took a hit with the scandal at the one auction house. There was an episode of American Greed,

https://www.sportscollectorsdaily.com/american-greed-reports-mastro-auctions-saga-hobby/

I had a couple of friends in domaining I told to watch, they were like I think the same thing happens in domain name auctions. HAHAHA

 

[equity78]

In October 2020, Miami-based art collector Pablo Rodriguez-Fraile spent almost $67,000 on a 10-second video artwork that he could have watched for free online. Last week, he sold it for $6.6 million.

https://www.reuters.com/article/us-...video-clip-sold-for-6-6-million-idUSKCN2AT1HG

 

[kalr]

NFT.com embedded Elon Musk tweet..

 

[gilescoley]

Anyone who thinks digital collectibles will just go away is being incredibly short-sighted, and maybe missed the boat. All the recent excitement might seem sudden and maybe a bit ridiculous, but NFTs / digital collectible assets have been on the verge of a breakout for years!

It's the artists and the auction houses who will make the money from NFT if it does stay around for a while, it wont be the domainers, except the few that registered the decent NFT names around 3-5 years ago. People need to stop regging the left-overs names or they will still be renewing them in 5 years time.

 

[equity78]

NFT.com embedded Elon Musk tweet..Show attachment 185575

I saw that pretty interesting. Everyone is going to be doing these eventually. I read a good debate on another tech forum about music and NFTs.

 

[Amit V]

Heres another one

nonfungibility.com

 

[NameYourself]

NFT.com embedded Elon Musk tweet..Show attachment 185575

Where do you see nft.com embedded at, I don't think Musk did so.

 

[gilescoley]

Where do you see nft.com embedded at, I don't think Musk did so.

Just go to his Twitter acc, its a Musk tweet

 

[NameYourself]

Just go to his Twitter acc, its a Musk tweet

I saw the tweet, its the nft.com part I was referring to.

 

[gilescoley]

I saw the tweet, its the nft.com part I was referring to.

The owner of NFT.com would have done that.

 

[GoneWalkabout]

I feel NFTs are a trend, but one that is travelling to a direction of normality in our 'everything has a price' future.

The real impact of NFT's will most likely be felt for creatives - the artists, the designers, the writers, who can use them to establish documented ownership of their creativity.

Financially, they will be able to sell their originals to those who want an investment while still allowing the un-owned copies of that original to be seen by the rest of the world at the same time.

The concept of copyright is about to take on a whole new learning curve

One extra route of NFTs is that we may be entering a world where fractional ownership becomes the norm. This may be interesting for things like domain names as fractional ownership tends to increase the price of an item.

Of course, it could all be a load of overhyped craziness. But isn't everything crazy at the moment anyway?


I have dipped into the hype myself and now own NonFungibleTokens.tv

It is available for $65million
(or three camels and a cheap bottle of whisky dependent on whether the world jumps on board with this NFT lunacy or not)


On a more serious note, my number one concern about NFTs is the likely impact they will have on the environment if they are not powered by renewable energy. Crypto mining for things like bitcoin already uses more energy than some countries.

 

[griff]

That type of concept makes far more sense to me than some of the stuff I am seeing.

Check out NFTX.org, Niftex.com & NFT20.io

 

[Amit V]

Got another offer for eNFTS.com ( 200$). Refused offcourse.

 

[Domainsyrup]

Got another offer for eNFTS.com ( 200$). Refused offcourse.

it looks better with a small s at the end " eNFTs.com " hahaha ! goodluck buddy !!

 

[Amit V]

haha, it is what it is my friend

 

[kaposzta]

I've just checked leandomainsearch, just for fun, and every single NFT-related domain that has some kind of meaning has already been registered It seems the gold rush is over, who packed their backpacks in time with NFT domains will surely have a great year

 

[branding]

NFTs Are a Pyramid Scheme and People Are Already Losing Money

Photographers, filmmakers, and digital artists are falling over themselves to mint NFTs in a get-rich-quick scheme that will do little beyond transferring wealth from artists to tech billionaires. Why are so many people buying into the idea that something is rare because everyone says it is?

https://fstoppers.com/opinion/nfts-are-pyramid-scheme-and-people-are-already-losing-money-554869

 

[griff]

that will do little beyond transferring wealth from artists to tech billionaires

This is the complete opposite of what has been happening in the last couple of years in the space - lots of smaller artists, especially from global south, have been able to quit their jobs to become full-time artists, finally becoming a viable career again.

"People Are Already Losing Money" "Small artists are already loosing money because minting isn't free" - you don't pay anything to mint on OpenSea, literally the biggest/most used open platform there is. Author is an ideologically-driven grifter who didn't do basic research.

 

[branding]

This is the complete opposite of what has been happening in the last couple of years in the space - lots of smaller artists, especially from global south, have been able to quit their jobs to become full-time artists, finally becoming a viable career again.

"People Are Already Losing Money" "Small artists are already loosing money because minting isn't free" - you don't pay anything to mint on OpenSea, literally the biggest/most used open platform there is. Author is an ideologically-driven grifter who didn't do basic research.

Oh, I agree. There's plenty of opportunity. But opportunity and making a good living doesn't equate to what you're selling having actual value imo. I don't agree with everything in the article but the author does raise some fair concerns.

 

[griff]

doesn't equate to what you're selling having actual value imo

value is subjective - art industry in particular is known for making people scratch their heads, lots of things selling for millions that most of us wouldn't pay $5 for. think of that banana duct-taped to the wall

if you buy to invest, then yeah only 5% or less of current projects are worth keeping your money in. the rest will drop dramatically as space continues to expand. if you buy small bits of art for cheap from people you genuinely like then there's no worry about resale value

 

[Amit V]

Its subjective. A friend of mine bought a digital art nft. I just laughed at him when I saw it. Long story short he told me " Who are you to tell me what is art and what is not". He is right !

 

[branding]

value is subjective - art industry in particular is known for making people scratch their heads, lots of things selling for millions that most of us wouldn't pay $5 for. think of that banana duct-taped to the wall

if you buy to invest, then yeah only 5% or less of current projects are worth keeping your money in. the rest will drop dramatically as space continues to expand. if you buy small bits of art for cheap from people you genuinely like then there's no worry about resale value

Exactly. The art world is mind boggling and personally I find the NFT boom that has occurred over the past few years mind-blowing.

Can't wait to see how it'll continue to develop and gets translated to 'real world' usage. As for the art, I rather invest in something I can put up above the fireplace

 

[griff]

@DirkS lots will send you the original painting too if it's a 1/1 mint. some pretty cool advances being made too:

https://twitter.com/x/status/1362819025424830471