Transparency is definitely a key aspect of the NFT space, and it's one of the reasons why people are drawn to it. Being able to see the history of an NFT, including who created it and who has owned it, adds a level of authenticity.
I completely agree! That alone enables NFTs to be used for a wide variety of things. They could be used as concert tickets, legal documents, educational certificates just to name a few. NFTs can be a lot more than mere images on the blockchain.
exactly that! having your medical history as an nft accessible to all doctors is something that brings more security and ease and even savings to your life! It would even reduce the cartels of doctors who recommend unnecessary medicines because if the prescriptions are on the blockchain they would think twice before prescribing something useless for money.
That sounds very good, it would be available to anyone who wanted to consult the medical records, and it would not even go astray, as has happened in hospitals in my country, where tests and medical examinations are sometimes misplaced.
The same happens in Brazil and I would venture to say in many other places around the world. When a dynamic NFT is used as a medical history or even in other areas such as construction, or to replace property documentation or even identification documents.
This brings more ease, security and transparency to our lives... these are the real discussions that those who really want to build a better world with web3 should be discussing.
The value of an NFT is connected to many factors such as its rarity and demand, but perhaps the most important is its utility and how it can address a particular problem.
This is exactly what I believe about NFT values. It should be solving a problem. There should be some utility which access to that NFT delivers. So if it is just about the graphics or crypto, then there is no value being delivered here.
Many nfts have utility for sure, we can cite games NFTs for example. But also some real assets in our world. The value is proportional do the utility for sure.
Exactly. And I believe that NFTs can be used to solve many problems that we have, such as storing information related to legal issues, such as laws, negotiating contracts, etc.
Convincing people for something they don't want may be difficult, but it's easier to convince when the value is seen in you. For instance, when your assets growth skyrocket, they wish to know your source.
So the message is to keep building!
It all goes down to how much you as an individual give to whatever community you choose to build with. You can't go and tell a person that you are a doctor and your family always fall sick every now and then.
You just have to prove to people through your actions and not just words
NFTs allow individuals to claim ownership of a specific digital file, whether it's an image, video, music, or other forms of digital content. This digital ownership is recorded on a blockchain, making it secure. One thing I love about it.
These are values of NFTs people needs to know because NFTs goes beyond just minting and holding. The community surrounding an NFT can also impact its value. If an NFT has a strong and active community of collectors and investors, its value may increase.
It’s just a great topic to learn more from. Let’s stay tuned.
However, with that said, there are objective ways to deem value. It's true that value could be subjective, but basically you should ask yourself, is this NFT/service/system solving a problem? If the answer is yes, there's value in it.
NFTs are not just arts the have great value and we can say this because we have learned this tonight, the are also digital asset and owners have full ownership of their NFTs is a great deal and can h build more holders of different NFTs.
The value of NFT comes down to the users of that NFT and that's why it's important for creators to make NFTs that offer utilities that users will find appealing.
They seem to be more focused in making mere ARTWORKS with no decent utility.
The best NFTs from the previous bull run were ones that offered a utility. The rest AI art just border on ponzi schemes.
If they have no utility case then they have no base for being sold legitimately in my opinion. If you want to sell an art print then do that and hang it on your wall!
I first became familiar with NFTs in video games. During the pandemic, people began to notice the true potential they offer. They are also in art, they are my favorite! NFT comes down to opportunities.
NFTs are here to stay.The non-fungible nature of these allows them to guarantee ownership for whoever owns them,and I believe that very soon we will begin to see them gaining ground within this web3 that is revolutionizing the world.
I still have a lot more to learn about NFTs, but I agree with you, I think we will soon see them revolutionizing history, many even make it to Web3 through them.
I think this value should depend on the value that a content creator brings. It would depend on the value that a content generated in a blockchain. That is going to have an equitable share formation where NFT equals the value of content.
You're absolutely right, someone once said that for you to get value, you have to give value. And it's so obvious on hive that depending on the value you give, you might not get as much as you think you should.
The first NFT I bought, was an image created with AI, when I purchased it I didn't know they had used AI 😆 so when I found out I didn't know whether to feel ripped off or good, but I'm over it now.
Definitely, that's one understanding we all have to attain, value can be anything base on the holder's opinion and people see utilities in a project too from different area's.
That's why some see NFTs project as the future and others have different opinion.
Yes spot on for me. For me value is all about utility. If what you’re building doesn’t have utility or a use case in the long run it will fade off easily. That’s why some NFTs last longer isn’t the space cause they have use cases.
This is true, I was among those who didn't see any future or even value in NFTs but that was simply because I had no knowledge of what they are. Well, the story is different now. Hopefully, more people will see utilities and value in NFTs, it is the future!
Web3 being the biggest and the best blockchain community shouldn't permit project founders to use us to test their products and scam us at the end of the day. We need to be extremely careful with how we embrace with new Projects on the blockchain network. That aspect of making your own research about project before investing is very important and we need to implement that always before we put our capital into any project.
Good point. Founders of many past Web2 projects made big promises unfulfilled, carted away with thousands of dollars from some of us that got involved with those scams. Extreme care is important.
Here you are absolutely right, before we can accept anything you should know what it's all about. This is a good reason because not all project we can invest in, I'm not saying they are bad but just that some does not worth it.
true' we all need to be cautious of the project we enter into, reminds me of the past platforms I entered, the owner can just wake up one morning and decideto sell it off, not minding the users, web3 is the best way to go.
I agree. Not a lot of holders of NFTs know what to do with them. Using myself as a case study, I got my NFT as a contest prize. It's just sitting there online, I don't exactly understand how to use it.
LOl.
You're right, it all depends on the kind of NFT itself and it's use case.
What the NFT does and how it can be used. I also have a couple of NFTs even on the hive blockchain but honestly don't also know how and where to use em.
Me as well. I'm just hoping that the one I have somehow gains a lot of value in the future and I cash out from it. I don't even know if that's how it works😅😅
I think that's where enlightenment comes in, you didn't know but I think from listening to the space you can gain some ideas on how to go about, I'm yet to get my NFT and hopefully when I do, I will use it to add value to myself.
To me, NFTs represent more than just a way to trade and collect digital assets. They represent a new way of expressing and exchanging creativity, ideas, and even emotions. NFTs are a bridge between the physical and digital worlds.
Yes for sure. But unfortunately many today don't see it as a way of expressing and collecting creativity, ideas, and emotions just as you said. Many today sees it as something they can collect and find a way to seel and dump it.
I have some NFTs in my possession. They're not just for art; they have various uses, including in gaming. Figuring out how to determine their value is a challenge.
I also have some NFTs, some have been purchased, some gifts and some prizes. And I really like them, even my NFT cards from games (Rising Star) I have that I don't even want to sell.
For me, NFTs represent not just digital ownership but a revolution in authenticity. Providing transparency & security,a means to verify the origin & uniqueness of assets. I'm looking forward to it's real world usecase in assets like Land🤪
Yeah, we considering NFTs in that perspective should make it have such a high value we do see it to have and also increase the demand for them too. Oh, Land here indicates Splinterlands lol, I am also a warlock and I love their NFTs
🔥Absolutely, you get it. Oh no, Land as in real world asset, not digital. You're the Chief Warlock for sure. Hope you're giddyup about Rebellion, here we go...the roller-coaster😂
I am also looking forward to this revolution, many things will change in the world with NFT for assets, maybe even with personal documents or real estate, everything will be easier and safer.
Oh, yeah! I love how Splinterlands, for example, provided value to us as players while traditional triple A titles companies make games that try to remove ownership and utility from them at the same time they profit from us.
Looking at the blockchain like Hive where I can trace exactly when I joined and the first set of activities I engaged, I can mint those first moments into an NFT such that those details cannot be altered.
Yes Blockchain, like Hive is not a difficult place to be. It is transparent to the point that, I access all my details from the start to the end. My contents, transaction and other activities done here.
The value of a project is not determined solely by its founder. The users who engage with the project can also add value by contributing their ideas. In fact, a project's success often depends on the engagement and enthusiasm of its users.
The value of a project is not just determined by the founders, but by the entire community of users and supporters. This idea of community support and contribution is a core tenet of Web3 and decentralized projects.
You're absolutely correct on that, value isn't only dependent on the founder, if founder is the only defining value, then the user is just in without a purpose, a project must meet your definition of value for you to dive In as a user.
One of the core things to do to enhance value is to come up with an idea that aline with what a group of people deemed as valuable, doing such brings about users/investor that's shares your vision and stick around to bring others investors
that's fact. It's the community that decides what and how valuable, collectibles and assets therein. Their actions sustain and create more value on the project and affect its tokenomic which is very important
I think NFTs can be an investment since they are similar to other types of collectibles. It is important to note that NFTs are a relatively new asset class, and there is no guarantee that they will appreciate in value
Your value in a project is dependent on your contribution to building the project; rather being a recipient, build the project you believe in - it doesn't depend on the founder alone.
Absolutely! Your value within a project isn't just about what you receive; it's about actively contributing to its growth and success. Building something you genuinely believe in means actively participating, adding your skills, ideas.
for some reason I don’t subscribe to this. I can have so much value in a project just by holding tons of it. By holding it I bring in value cause I believe in it. I don’t necessarily need to be key in building the project.
Exactly, an attractive NFT is what you are behind it, if they are limited editions, if they have rarity, if it is of some recognized artists or if it simply came out in some news there comes the value and why to buy one.
NFTs derive their value from their users and the utilities they offer. So it's important for creators to focus on creating NFTs that offer something useful and valuable to users.
The beauty of NFTs is that they can take on many different forms and serve many different purposes. From collectibles, to gaming assets, to art, to unique digital identities, NFTs can represent anything that can be represented digitally.
That's right, the nice thing and the cool thing too, is that, practically everything in the real world can be tokenized, create an NFT and give it its value with a backstory, I particularly like game NFTs, it's easier to mediate its value.
Transparency is one of the reasons I love Blockchain, it shows that no one is hiding anything, I believe transparency should be adopt in everything you are doing, why won't you accept transparency? What are you hiding? This should accept in NFT and all.
I agree with you on this, Moremoney. Transparency is one feature that makes blockchain amazing. Everything is visible. Nothing is hidden. In a way, if is also a bit funny. I can see the money in you wallet, but unable to tamper with it.
The decentralized and transparent nature of the blockchain is one of the most interesting aspects of Web3. Some NFT'Ss are more valuable than others, and it's important to do your research before investing in any particular NFT project.
The hype around NFTs has also brought with it a lot of controversy, with some critics calling them a bubble or a scam. The business world see it totally different not trusting on the transparency.
Do fundamental news dominate NFTs' value? I mean is there any chance to sudden pump for sudden dump of a NFT for any fundamental news? And also, Has it any technical analysis?
These are really interesting questions. I think there are technical analysis for NFTs like the Apes that were mention. I'm not sure but it's crypto and more than 1 is minted which is held by many. I believe sudden pumps can influence too
It's just what I have been saying for the last days. There are plenty of use cases for NFTs. One of the main issues is that we (as in the crypto society) have not been able to explore the full potential of NFTs. I don't see it being utilized widely outside of the art and gaming industries.
Exactly! Our experience about NFT market is very less. If we can observe this market in the same way that we have explored the crypto market, we hope to get many useful ideas.
You are very right. There is need to redefine NFTs into other sectors other than cryptocurrency. I think some NFTs can just be historic, an artifact that won't get old or stolen, where we can mint a memorable activity or moment.
I don’t understand why no one would like transparency in NFTs trading. It’s visible it’s there and let’s buyers know what is going on also NFTs ensure no one can copy the asset. It is safe to use and it is a great method. Anyways, I think it’s perfect the way it is, I just like it.
What blockchain ofters is so different from what other businesses offer in real life. But then blockchain has the tendency of becoming more business than any offchain business but it is almost impossible for any offchain business to be like a blockchain.
Hahaha! Just Imagine the power of ones medical history as an NFT? accessible to all doctors! Off course there with enhanced security, ease, and cost savings. What Purab Shabdi will call a healthcare revolution! RW NFT usecases incoming 🔥
The idea of an NFT is great. It even makes great investment however one thing which goes against NFT as an investment is the illiquidity of the NFT market
NFTs are unique digital assets on blockchain. They can represent anything from art to music to virtual real estate. The utility behind this NFTs is just so interesting because of the entertainment attached.
They all have their various values to the users. It has its own utility behind it that’s why it is used for future purpose to some. NFTs might be collectibles too
I agree with the current speaker. A lot of the NFT's are made simply for entertainment, they should also make Nfts with actual value and Usecases. Make things that can do things.
Exactly, they are mostly for entertainment and I guess it makes some people not to have so much interest on it but with actual value and useecases, more people will love to own the digital assets
There are projects that by having an expensive NFT give a benefit in the discount of a product. That implies another purchase, so we should evaluate which use cases are really the ones that add value.
Within communities like Hive and some DAO's, the NFT makes more sense because it has a use case, even if it is just governance, unlike other NFT's that only have the sense of unique art.
People and market conditions determine the value of NFTs. An NFT is given a value that you specify. For this reason, it's believed that demands create value. The rationale behind the employment of NFTs affects their worth as well.
The value of NFTs is deeply tied to the perceptions and preferences of individuals in the market. The demand for a particular NFT, driven by factors such as cultural significance, artist reputation, and overall market trends.
NFTs are precious work of art stored in the internet space. Some of them are very valuable like goals and other precious items. Perhaps, now we are talking about RWA of NFTs, they will be more valued and improve thethe life's of holders.
there should be a reasonable value attached it NFT. That way, many people will get interested in it and when that happens, it also improves the value too. So the number of holders can have effect on the value it carries
Wow, what an amazing topic of discussion.
Value is key and it comes with two faces which are, what you derive from a particular investment and what you contributed to such investment.
The law of supply and demand is indeed applicable to NFTs, as higher demand for a limited supply generally drives up prices. However, other factors like the artist's reputation, the cultural significance of the work, with overall market
To have a black rock BTS, because we're allowing this companies and products, and this companies hate transparency, and you can see why we are ahead of them big time. They can't give accountable and hive is all about that.
I learned that over time. It is not only for branding or fun, but also for collecting, marketing, entertainment, etc., through these assets that are unique and unrepeatable. It's good to teach it
Transparency is definitely a key aspect of the NFT space, and it's one of the reasons why people are drawn to it. Being able to see the history of an NFT, including who created it and who has owned it, adds a level of authenticity.
I completely agree! That alone enables NFTs to be used for a wide variety of things. They could be used as concert tickets, legal documents, educational certificates just to name a few. NFTs can be a lot more than mere images on the blockchain.
exactly that! having your medical history as an nft accessible to all doctors is something that brings more security and ease and even savings to your life! It would even reduce the cartels of doctors who recommend unnecessary medicines because if the prescriptions are on the blockchain they would think twice before prescribing something useless for money.
That sounds very good, it would be available to anyone who wanted to consult the medical records, and it would not even go astray, as has happened in hospitals in my country, where tests and medical examinations are sometimes misplaced.
The same happens in Brazil and I would venture to say in many other places around the world. When a dynamic NFT is used as a medical history or even in other areas such as construction, or to replace property documentation or even identification documents.
This brings more ease, security and transparency to our lives... these are the real discussions that those who really want to build a better world with web3 should be discussing.
Totally agree
In fact, for health issues, NFTs become a very string ally, even more so because they are documented within a blockchain.
The value of an NFT is connected to many factors such as its rarity and demand, but perhaps the most important is its utility and how it can address a particular problem.
This is exactly what I believe about NFT values. It should be solving a problem. There should be some utility which access to that NFT delivers. So if it is just about the graphics or crypto, then there is no value being delivered here.
Many nfts have utility for sure, we can cite games NFTs for example. But also some real assets in our world. The value is proportional do the utility for sure.
Exactly. And I believe that NFTs can be used to solve many problems that we have, such as storing information related to legal issues, such as laws, negotiating contracts, etc.
Convincing people for something they don't want may be difficult, but it's easier to convince when the value is seen in you. For instance, when your assets growth skyrocket, they wish to know your source.
So the message is to keep building!
I think it should be someone's decision to own any NFTS it shouldn't be forced
i believe people around you will soon ask you about crypto the way market is moving
Not for nothing is it said that actions speak louder than words. People are convinced when they see that it is real.
It all goes down to how much you as an individual give to whatever community you choose to build with. You can't go and tell a person that you are a doctor and your family always fall sick every now and then.
You just have to prove to people through your actions and not just words
NFTs allow individuals to claim ownership of a specific digital file, whether it's an image, video, music, or other forms of digital content. This digital ownership is recorded on a blockchain, making it secure. One thing I love about it.
These are values of NFTs people needs to know because NFTs goes beyond just minting and holding. The community surrounding an NFT can also impact its value. If an NFT has a strong and active community of collectors and investors, its value may increase.
It’s just a great topic to learn more from. Let’s stay tuned.
However, with that said, there are objective ways to deem value. It's true that value could be subjective, but basically you should ask yourself, is this NFT/service/system solving a problem? If the answer is yes, there's value in it.
NFTs are not just arts the have great value and we can say this because we have learned this tonight, the are also digital asset and owners have full ownership of their NFTs is a great deal and can h build more holders of different NFTs.
It is undoubtedly an asset that allows you to transmit your human gifts through it. The best thing is that you can always enjoy its benefits.
The value of NFT comes down to the users of that NFT and that's why it's important for creators to make NFTs that offer utilities that users will find appealing.
They seem to be more focused in making mere ARTWORKS with no decent utility.
The best NFTs from the previous bull run were ones that offered a utility. The rest AI art just border on ponzi schemes.
If they have no utility case then they have no base for being sold legitimately in my opinion. If you want to sell an art print then do that and hang it on your wall!
I first became familiar with NFTs in video games. During the pandemic, people began to notice the true potential they offer. They are also in art, they are my favorite! NFT comes down to opportunities.
NFTs are here to stay.The non-fungible nature of these allows them to guarantee ownership for whoever owns them,and I believe that very soon we will begin to see them gaining ground within this web3 that is revolutionizing the world.
I still have a lot more to learn about NFTs, but I agree with you, I think we will soon see them revolutionizing history, many even make it to Web3 through them.
I think this value should depend on the value that a content creator brings. It would depend on the value that a content generated in a blockchain. That is going to have an equitable share formation where NFT equals the value of content.
You're absolutely right, someone once said that for you to get value, you have to give value. And it's so obvious on hive that depending on the value you give, you might not get as much as you think you should.
The first NFT I bought, was an image created with AI, when I purchased it I didn't know they had used AI 😆 so when I found out I didn't know whether to feel ripped off or good, but I'm over it now.
Definitely, that's one understanding we all have to attain, value can be anything base on the holder's opinion and people see utilities in a project too from different area's.
That's why some see NFTs project as the future and others have different opinion.
Yes spot on for me. For me value is all about utility. If what you’re building doesn’t have utility or a use case in the long run it will fade off easily. That’s why some NFTs last longer isn’t the space cause they have use cases.
This is true, I was among those who didn't see any future or even value in NFTs but that was simply because I had no knowledge of what they are. Well, the story is different now. Hopefully, more people will see utilities and value in NFTs, it is the future!
Web3 being the biggest and the best blockchain community shouldn't permit project founders to use us to test their products and scam us at the end of the day. We need to be extremely careful with how we embrace with new Projects on the blockchain network. That aspect of making your own research about project before investing is very important and we need to implement that always before we put our capital into any project.
Good point. Founders of many past Web2 projects made big promises unfulfilled, carted away with thousands of dollars from some of us that got involved with those scams. Extreme care is important.
Here you are absolutely right, before we can accept anything you should know what it's all about. This is a good reason because not all project we can invest in, I'm not saying they are bad but just that some does not worth it.
I agree with you, project founders may come up with a project and get everyone involved before you know it will result in a scam.
Let everyone be careful before investing in any project.
true' we all need to be cautious of the project we enter into, reminds me of the past platforms I entered, the owner can just wake up one morning and decideto sell it off, not minding the users, web3 is the best way to go.
I agree. Not a lot of holders of NFTs know what to do with them. Using myself as a case study, I got my NFT as a contest prize. It's just sitting there online, I don't exactly understand how to use it.
Hopefully more people'll be senstised
LOl.
You're right, it all depends on the kind of NFT itself and it's use case.
What the NFT does and how it can be used. I also have a couple of NFTs even on the hive blockchain but honestly don't also know how and where to use em.
Me as well. I'm just hoping that the one I have somehow gains a lot of value in the future and I cash out from it. I don't even know if that's how it works😅😅
I used to be like you untill I was tutored, a little about how to trade and HODL them.
For now, even if you don't know how to use them, just keep them because one day, they're gonna surprise you. Yeah, trust me✌️
That's what I like to hear. I will hold onto them till they pump high.
Thanks for this information!🤗
I know what you mean, I tend to forget I even own NFT's unless they are part of a game I'm actively playing.
At least you use them for games😅😅. I guess they will come in handy in the future.
I think that's where enlightenment comes in, you didn't know but I think from listening to the space you can gain some ideas on how to go about, I'm yet to get my NFT and hopefully when I do, I will use it to add value to myself.
To me, NFTs represent more than just a way to trade and collect digital assets. They represent a new way of expressing and exchanging creativity, ideas, and even emotions. NFTs are a bridge between the physical and digital worlds.
Yes for sure. But unfortunately many today don't see it as a way of expressing and collecting creativity, ideas, and emotions just as you said. Many today sees it as something they can collect and find a way to seel and dump it.
I loved your definition, I find it very accurate and agreed with the blockchain era.
Thank you
I have some NFTs in my possession. They're not just for art; they have various uses, including in gaming. Figuring out how to determine their value is a challenge.
I also have some NFTs, some have been purchased, some gifts and some prizes. And I really like them, even my NFT cards from games (Rising Star) I have that I don't even want to sell.
For me, NFTs represent not just digital ownership but a revolution in authenticity. Providing transparency & security,a means to verify the origin & uniqueness of assets. I'm looking forward to it's real world usecase in assets like Land🤪
Yeah, we considering NFTs in that perspective should make it have such a high value we do see it to have and also increase the demand for them too. Oh, Land here indicates Splinterlands lol, I am also a warlock and I love their NFTs
🔥Absolutely, you get it. Oh no, Land as in real world asset, not digital. You're the Chief Warlock for sure. Hope you're giddyup about Rebellion, here we go...the roller-coaster😂
I am also looking forward to this revolution, many things will change in the world with NFT for assets, maybe even with personal documents or real estate, everything will be easier and safer.
It is only a matter of time.
🔥Totally! No more being scammed especially cases of fake land sellers. NFTs sure make it all safe and transparent.
Oh, yeah! I love how Splinterlands, for example, provided value to us as players while traditional triple A titles companies make games that try to remove ownership and utility from them at the same time they profit from us.
#Splinterlands are literally gods of the digital land world, outstanding!
Ikr, you're spot on🔥
Looking at the blockchain like Hive where I can trace exactly when I joined and the first set of activities I engaged, I can mint those first moments into an NFT such that those details cannot be altered.
Yes Blockchain, like Hive is not a difficult place to be. It is transparent to the point that, I access all my details from the start to the end. My contents, transaction and other activities done here.
I agree with what you said. The beauty of NFTs that I love is that they take different forms which can also represent anything digitally.
Value doesn’t depend on the founder alone, users should be able to add value to it too. I'm a fan of support.
The value of a project is not determined solely by its founder. The users who engage with the project can also add value by contributing their ideas. In fact, a project's success often depends on the engagement and enthusiasm of its users.
Sure. Just like Hive now. It's a matter of give and take.
What will be the benefit of the founder if the users isnt adding any value to it.
The value of a project is not just determined by the founders, but by the entire community of users and supporters. This idea of community support and contribution is a core tenet of Web3 and decentralized projects.
You're absolutely correct on that, value isn't only dependent on the founder, if founder is the only defining value, then the user is just in without a purpose, a project must meet your definition of value for you to dive In as a user.
I agree with you. Even if the founder gives so much value to their NFTs if the community doesn't see any value in it, then it becomes useless.
NFTs has it value in GameFi, it has specific function in the building the world of Blockchain.
One of the core things to do to enhance value is to come up with an idea that aline with what a group of people deemed as valuable, doing such brings about users/investor that's shares your vision and stick around to bring others investors
that's fact. It's the community that decides what and how valuable, collectibles and assets therein. Their actions sustain and create more value on the project and affect its tokenomic which is very important
I just love NFTs, anything digital, NFTs got you covered. Its dynamic nature is just so appealing
Do you hold any NFTs
I think NFTs can be an investment since they are similar to other types of collectibles. It is important to note that NFTs are a relatively new asset class, and there is no guarantee that they will appreciate in value
The features of Blockchain technology is transparent, everything about the Blockchain, like transaction, and other activities can be figure out.
Your value in a project is dependent on your contribution to building the project; rather being a recipient, build the project you believe in - it doesn't depend on the founder alone.
Absolutely! Your value within a project isn't just about what you receive; it's about actively contributing to its growth and success. Building something you genuinely believe in means actively participating, adding your skills, ideas.
for some reason I don’t subscribe to this. I can have so much value in a project just by holding tons of it. By holding it I bring in value cause I believe in it. I don’t necessarily need to be key in building the project.
Exactly, an attractive NFT is what you are behind it, if they are limited editions, if they have rarity, if it is of some recognized artists or if it simply came out in some news there comes the value and why to buy one.
NFTs derive their value from their users and the utilities they offer. So it's important for creators to focus on creating NFTs that offer something useful and valuable to users.
The beauty of NFTs is that they can take on many different forms and serve many different purposes. From collectibles, to gaming assets, to art, to unique digital identities, NFTs can represent anything that can be represented digitally.
That's right, the nice thing and the cool thing too, is that, practically everything in the real world can be tokenized, create an NFT and give it its value with a backstory, I particularly like game NFTs, it's easier to mediate its value.
Transparency is one of the reasons I love Blockchain, it shows that no one is hiding anything, I believe transparency should be adopt in everything you are doing, why won't you accept transparency? What are you hiding? This should accept in NFT and all.
thats what I am confused about why no one would like transparency because there should be nothing to hide if you are not doing anything wrong.
I agree with you on this, Moremoney. Transparency is one feature that makes blockchain amazing. Everything is visible. Nothing is hidden. In a way, if is also a bit funny. I can see the money in you wallet, but unable to tamper with it.
The decentralized and transparent nature of the blockchain is one of the most interesting aspects of Web3. Some NFT'Ss are more valuable than others, and it's important to do your research before investing in any particular NFT project.
The hype around NFTs has also brought with it a lot of controversy, with some critics calling them a bubble or a scam. The business world see it totally different not trusting on the transparency.
Do fundamental news dominate NFTs' value? I mean is there any chance to sudden pump for sudden dump of a NFT for any fundamental news? And also, Has it any technical analysis?
These are really interesting questions. I think there are technical analysis for NFTs like the Apes that were mention. I'm not sure but it's crypto and more than 1 is minted which is held by many. I believe sudden pumps can influence too
It's just what I have been saying for the last days. There are plenty of use cases for NFTs. One of the main issues is that we (as in the crypto society) have not been able to explore the full potential of NFTs. I don't see it being utilized widely outside of the art and gaming industries.
NFT's come and go more like a trend and rarely the various use case are explored.
Exactly! Our experience about NFT market is very less. If we can observe this market in the same way that we have explored the crypto market, we hope to get many useful ideas.
So it's important that a wide publicity is given to it and more users can come in. Use every available opportunities to try something new if need be.
You are very right. There is need to redefine NFTs into other sectors other than cryptocurrency. I think some NFTs can just be historic, an artifact that won't get old or stolen, where we can mint a memorable activity or moment.
I don’t understand why no one would like transparency in NFTs trading. It’s visible it’s there and let’s buyers know what is going on also NFTs ensure no one can copy the asset. It is safe to use and it is a great method. Anyways, I think it’s perfect the way it is, I just like it.
What blockchain ofters is so different from what other businesses offer in real life. But then blockchain has the tendency of becoming more business than any offchain business but it is almost impossible for any offchain business to be like a blockchain.
Hahaha! Just Imagine the power of ones medical history as an NFT? accessible to all doctors! Off course there with enhanced security, ease, and cost savings. What Purab Shabdi will call a healthcare revolution! RW NFT usecases incoming 🔥
Yeah V3CTOR'S contribution is amazing, he emphasized on how technology should be utilized and I think that is very important and key
He also added that value is key in every investment .
The idea of an NFT is great. It even makes great investment however one thing which goes against NFT as an investment is the illiquidity of the NFT market
NFTs are unique digital assets on blockchain. They can represent anything from art to music to virtual real estate. The utility behind this NFTs is just so interesting because of the entertainment attached.
They all have their various values to the users. It has its own utility behind it that’s why it is used for future purpose to some. NFTs might be collectibles too
I agree with the current speaker. A lot of the NFT's are made simply for entertainment, they should also make Nfts with actual value and Usecases. Make things that can do things.
Exactly, they are mostly for entertainment and I guess it makes some people not to have so much interest on it but with actual value and useecases, more people will love to own the digital assets
There are projects that by having an expensive NFT give a benefit in the discount of a product. That implies another purchase, so we should evaluate which use cases are really the ones that add value.
Obviously there can be many use cases.
Within communities like Hive and some DAO's, the NFT makes more sense because it has a use case, even if it is just governance, unlike other NFT's that only have the sense of unique art.
People and market conditions determine the value of NFTs. An NFT is given a value that you specify. For this reason, it's believed that demands create value. The rationale behind the employment of NFTs affects their worth as well.
The value of NFTs is deeply tied to the perceptions and preferences of individuals in the market. The demand for a particular NFT, driven by factors such as cultural significance, artist reputation, and overall market trends.
Without a doubt, this is a promising market, as many people are more concerned about their health nowadays.
NFTs are precious work of art stored in the internet space. Some of them are very valuable like goals and other precious items. Perhaps, now we are talking about RWA of NFTs, they will be more valued and improve thethe life's of holders.
there should be a reasonable value attached it NFT. That way, many people will get interested in it and when that happens, it also improves the value too. So the number of holders can have effect on the value it carries
this right here is also a good suggestion but the question I asked
Wow, what an amazing topic of discussion.
Value is key and it comes with two faces which are, what you derive from a particular investment and what you contributed to such investment.
The law of supply and demand is indeed applicable to NFTs, as higher demand for a limited supply generally drives up prices. However, other factors like the artist's reputation, the cultural significance of the work, with overall market
To have a black rock BTS, because we're allowing this companies and products, and this companies hate transparency, and you can see why we are ahead of them big time. They can't give accountable and hive is all about that.
That is a good point from Santa V transparency in whatever you do with your customers. Let them know what is going on in the blockchain.
Nfts takes different form that's why it serves different purposes, little wonder it's uniqueness is just one of a kind
I learned that over time. It is not only for branding or fun, but also for collecting, marketing, entertainment, etc., through these assets that are unique and unrepeatable. It's good to teach it