Can this revolution last or is it only hype? Jack Dorsey is selling his first-ever tweet for millions of dollars and so is the musician Grimes. Artists from all over the world are cashing out with the sale of their NFTs and iconic memes are also being immortalized through them. eBay has
If you can explain why we pay millions of dollars on physical art you can explain why we spend millions of dollars on NFTs.
We’ve done it for decades, even centuries. It’s human nature in a sense and part of the record of our existence. It may seem illogical but that’s us.
The concept of certain things not being “worth” is extremely subjective and kinda stupid sometimes. A $100 bill is just paper why is worth $100 ? Because we give that value to it. Is the exact same concept in a new way of ownership (NFTs).
I think this is not going to “burst”, even if for some reason one day everyone hates NFTs and we all stop doing what we’ve been going this new use of the blockchain technology came to stay, and that’s what have been making this interesting, how revolutionary it is.
It’s going to happen what happy to Bitcoin and other crypto currency’s. At first everyone is just going to a knowledge their existence, but they’re not going to do something NFT related. In a couple months the mainstream is going little by little get more involved and normalize the use of them.
Eventually it’s going to be an everyday thing in our society
Exactly! A lot of the criticism about NFTs could be said about any physical collectible.
"That baseball card is 'just' a piece of paper with a picture printed on it."
"You can just buy a 'copy' of that old movie poster."
Like you mentioned, NFTs will continue to find a home among collectors and enthusiasts. As I've immersed myself in the NFT world, I have found that the community is one of the biggest pieces of the puzzle that makes this work. Big or small, I believe the bonds formed in the many communities surrounding NFTs are going to continue to get stronger. Numbers may get smaller, but the community of collectors and enthusiasts will keep this ship flying.
I agree with you that in some way NFTs are here to stay. I know people like to collect physical items, but I'm also seeing that younger generations seem to be more aware of our impact on the earth. A lot of collections are just junk and a waste of material. These things end up donated or trashed. I find myself trying to downsize all the junk I've collected over the years. NFTs don't have this issue and if crypto and blockchains can become more environmentally friendly, then all the better and more reason for them to stay.
I believe we are barely scraching the surface of what NFT's can and will be used for in the future. It's a very exciting time in this space and I look forward to seeing the interesting NFT use cases that people will develop.
NFT's are inspiring new and old artists to create and profit from their work once again, the momentum is just beginning to build.
This is just the beginning. NFTs are the future of the music industry, publishing, journalism. The possibilities are endless and I'm very excited for the future
There's no bubble.
NFT's are creating an entirely new way to view not just buying and selling of digital art assets, but of everything. Literally everything. There was a guy that sold a house by tying the ownership to an NFT and auctioned it off on Opensea. He lost a lot of money, but the principle is there! NFT's are creating a BRAND NEW space for not only artists of all kinds, but also for advertising, product sales, books, you name it! There is nothing but up to go from here, regardless of the dips. All of the projects from cryptowriter/Finny to R-Planet and the multitude of others have brought their own special twist to things which has only brought the entire community (which is what this really is) up!
nft market will continue to grow
good store of value
collectors love to collect it
and of course there is art in it
In the worst conditions, art has always existed.
and will always exist
nft ecosystem will act separately from other cryptocurrencies
will create its own world
thank you for this nice article