@scottcbusiness
Why I Don't Recommend NFTs… YET!
This is a controversial opinion on NFTs because while I believe most people think they’re silly, there’s a huge community that is now being tapped into by the mainstream, influencers, and celebrities. https://lbry.tv/@ScottCBusiness:4/NFTs-not-yet:b https://youtu.be/MSZ9-JiA7Ws It’s fair to say that most people making money are the issuers of NFTs. This could be like the NBA issuing a top shot collection or a popular artist who is releasing their own NFT collection. This has now started to include influencers and celebrities who are cashing in lazily on their fanbases. There’s a rampant amount of scams, low value projects, and low effort projects, that it’s nearly impossible to know what to invest in. This is not investing, this is speculation. This is akin to trading collectibles in real life and if you don’t think that’s investing, then neither is this. Too many people who want to invest money find themselves buying random NFTs not understanding the liquidity isn’t there and someone has to actually buy it from you. A lot of what actually makes an NFT valuable is the exclusivity or its rarity, you can’t just buy random ones and hold them hoping they will go up in value. You have to become a marketer of NFTs if you actually want the value to go up especially given ideally there are a scarce amount of the one you buy into. NFTs are exclusive or special anymore because everyone is launching an NFT. It’s become more like unnecessary “digital waste.” There is also a huge amount of plagiarized NFTs and even an entire archive dedicated to just saving NFTs images for other to utilize: https://thenftbay.org/index.html. I support NFTs, there are so many use cases for the future, but I would guesstimate that 90%+ of the market is just looking for quick cash, not to support artists or some noble goal. **Current Use Cases For NFTs:** • Collectibles • Tokenized physical assets • Tokenized real estate • Tokenized digital rights and monetization – books, music, etc. • NFT Staking • Domains • Video game assets • Social media/Marketing • Event tickets • Tokenized ownership proofs – products, charities, and more **Future Use Cases For NFTs:** • Secondary market for gaming assets • Healthcare records and other records that need to be valid, updated, and accessible • Identity management • Certifications, licenses, deeds, or any kind of record can be minted into an NFT • Loyalty/subscription items I will cover the “Sleepminting NFT” scam in the future. Do you agree or disagree? Do you own any NFTs? What do you think about NFTs currently and the future of NFTs? Let me know what you think about this in the comments below and don’t forget to subscribe! ***Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*** 👥 Support Me & Follow Me Elsewhere 👥 👉 http://www.scottcbusiness.com Ask questions in my Telegram: https://t.me/cryptoandthings You can find all my cryptocurrency addresses on https://cointr.ee/scottcbusiness You can find all of my referral links here: https://linktr.ee/scottcbusiness
12 comments
Much of what I know regarding the nft is that of an unassured future in it as what ww do see of it to do is a build up of many projects that seeks to represent the NFT given the full amount of trust investors have been able to place in it and for that reason alone, I disagree in an assured future for the NFT. Meanwhile @scotbuisiness, you talked about we making a comment in your last article so you can follow us and till now, I haven't seen any followership from you to me at all which is the more reason why i'm asking to be sure you saw my comment on that day as well.
If you are going to rate the level of risk in a cryptocurrency, NFT is probably full of possibility for danger and perhaps the riskiest in a perspective of the NFT art pyramid. A little we can foresee the future yet still hoping that the best is yet to come.
interpretation which I think makes sense, because when I see this it is like random and has no purpose for making NFT. just imagine every person in the world making NFT how much is marketed this will be uncontrollable. Luckily I haven't bought it yet. I support you friends to research more deeply for any irregularities and frauds that occur for you to publish next.
Thank you for your informatiaon."($)
I like this, I also think the same thing, millions of people are risking a lot with NFTs and do not know how they work.
I could be completely off in my thinking, but I don't think NFTs have any value at all long term. It's a thing now. But long term? It's nothing. I think nothing NFT has value 10 years from now and I would not invest a single penny into any of it. Mark my words here.
I don't have enough knowledge but I think Holding NFT ISN'T A good idea
im just still kind of skeptical about this NFT thing, the crazy thing behind it, you know buying an JPEG, seriously im yet to buy/mint one, but im looking forward to trying it soon
Useful information 🤗
That's very amazing fact my dear I really like your post and you share a amazing fact about NFTS..good job
Excelente
Sir! 16k YouTube subscribers. I also became a member of your community. A lot of helpful and useful information here. My wishes are always with you.