Does NFTs still have relevance in the Crypto Space?

[bayu7adi]

Because the hype for altcoin NFTs has faded, and now the NFTs on BRC-20 look fresher, I suspect that the existence of NFTs will be replaced by something new. I can't call NFTs completely dead, but there will be a drastic decline in interest.

For my response to the ALTSEASON and NFT moment, there will definitely be a price increase but it will not be significant. From the past until now I don't really idolize NFTs seeing that the market is already very unhealthy. Creating a trend of monkey images that are highly valued is no longer reasonable. So, NFT coins are currently not that interesting to me. Even though the halving is coming, I still have other coin choices.

[IvugeoEvolutionCoin]

Because the hype for altcoin NFTs has faded, and now the NFTs on BRC-20 look fresher, I suspect that the existence of NFTs will be replaced by something new. I can't call NFTs completely dead, but there will be a drastic decline in interest.

For my response to the ALTSEASON and NFT moment, there will definitely be a price increase but it will not be significant. From the past until now I don't really idolize NFTs seeing that the market is already very unhealthy. Creating a trend of monkey images that are highly valued is no longer reasonable. So, NFT coins are currently not that interesting to me. Even though the halving is coming, I still have other coin choices.

As far as I know, BRC-20 is an NFT that has a development based on the Binance Samrt Contract network. If you say that BRC-20 is currently superior and is liked by many people, then that is a natural thing because currently BRC-20 transaction fees are cheaper than those of the network owned by Ethereum. However,  for the bull run season, altcoins such as BRC-20 will not have an important influence on its movement.

[0t3p0t]

Stats from last year's Coingecko market report reveal a decline in NFT adoption compared to fungible tokens and the 2022 trading volume. This prompts consideration for aggressive investments in the sector. Noteworthy NFT-integrated projects like Mavia and the recent Animalia, an online NFT trading card game, have emerged.
https://www.coingecko.com/research/publications/2023-annual-crypto-report

As a non-gamer navigating the unpredictable crypto space, the drop in last year's NFT trading volume to 11.8 billion, in contrast to 2022's 26.3 billion, raises concerns. However, closely monitoring these NFT-related projects could prove rewarding if a different scenario unfolds this year.

The question lingers: Will this year bring a shift, or are there indices signaling a potential bullish sentiment for NFTs and their related projects?

The price of tokens, like other market assets, is determined by supply and demand. These tokens are rare and sought after by players, collectors and investors who are willing to pay for them.  We live in the era of collectibles, so these tokens continue to gain popularity. So don't be scared or disappointed. The main thing is to find the right choice.

The only problem with NFT's is it is based on trend. Just like in previous years wherein NFT games are booming but it didn't last long since most of those games right now is not as hot as they existed. I mean they are not on the majority of crypto enthusiasts interests but I can't tell the future of NFT's really since "change is the only constant" here on this industry upgrades and improvements are inevitable so hard to say something and jump into conclusion.

[elbans89]

You can see on CMC, to this day there are still many traders who buy and sell NFT tokens, which means that NFT tokens are still relevant for crypto traders, especially people who are interested in digital art. But discussing how long this trend will last, I don't know, because I can't predict how long people will get sick of trading these NFT tokens, or maybe it won't happen.

Yes, I still see many people trading NFTs, it looks like NFTs are still selling. although some investors no longer play there. Maybe you digital art lovers are still interested in collecting NFTs. Personally, I am more interested in network-based coins. Such as ethereum, BNB, solana etc.

[Gyrgen]

Personally, I believe that NFTs do not bring anything in terms of technological usefulness. Will they be relevant for a while, yes, then when this topic stops generating profit they will happily sink into oblivion.In crypt, in general, a lot is determined by fashion and puffing up one’s cheeks, just like the notorious memcoins, complete bullshit, but they brought cosmic profits to their creators.

[bhadz]

I think that there's still some benefits of it just because we're about to enter in the bull run but then after this, they'd lielow again. I've seen those projects that still has a lot to offer for their NFT holders like in the SOL ecosystem that they're rewarding those holders of NFTs. Maybe that project was really funded to last but that type of business model to distribute rewards through holding an NFT wasn't ideal and isn't bound to last. So, that's why I think, they're just relevant nowadays because we're having the bull run but after that, you'd see them again like considered being thrash.

[Gideon99]

Stats from last year's Coingecko market report reveal a decline in NFT adoption compared to fungible tokens and the 2022 trading volume. This prompts consideration for aggressive investments in the sector. Noteworthy NFT-integrated projects like Mavia and the recent Animalia, an online NFT trading card game, have emerged showing a glimpse of prospect for NFT-related crypto projects.
https://www.coingecko.com/research/publications/2023-annual-crypto-report

As a non-gamer navigating the unpredictable crypto space, the drop in last year's NFT trading volume to 11.8 billion, in contrast to 2022's 26.3 billion, raises concerns. However, closely monitoring these NFT-related projects could prove rewarding if a different scenario unfolds this year.

The question lingers: Will this year bring a shift, or are there indices signaling a potential bullish sentiment for NFTs and their related projects?

In addition NFTs or non fungible tokens, have their up and down in the crypto space. They are popularity in 2021, but the market cool off a bit in 2022. Moreover, they still have a relavance in the crypto space. They offer unique way to create digital scarcity, and are used to represent all kinds of digital assets, From music to art to game items. Technology holding NFTs are still improving and developing, there are still potential for growth.

[UNIVERSE]

The question lingers: Will this year bring a shift, or are there indices signaling a potential bullish sentiment for NFTs and their related projects?

Unfortunately, NFTs are not as hyped as they used to be. It is true that some NFTs can definitely still survive and there is a possibility of rising in popularity again. However, I'm not sure most will be able to. Because things like this usually won't be far from the hype process and its influence. So as long as it is no longer booming, it will be quite easy to abandon it. Unless many influencers or influential figures in the world start to inform or start hot news related to NFT again, maybe this could rise again.

[TomPluz]

The question lingers: Will this year bring a shift, or are there indices signaling a potential bullish sentiment for NFTs and their related projects?

There is some possibility that once the bullish market envelop almost all the popular coins and tokens, then maybe investors will be focusing also with worthy NFTs and they would rise in value but it would not be the same compared to the time when NFT really peaked in popularity. These days, we seldom hear news of NFTs that skyrocket in value, and maybe because in terms of use-cases NFTs are really limited moist especially in the perceptions of the people. Why would I be investing with an image of a rock when I can invest my money with Bitcoin or Ethereum or SOL or even XRP which right now may have a brighter chance for me to get good returns? There is no question that NFT hype is gone and it can take some more years and more stimuli for the excitement to get back into it. I am not against NFT because surely it has a good place in the cryptocurrency industry but for now let's accept the fact that the warm response is not there anymore. Predictions for the bullish season are not specifically mentioning that NFT will also rise from the ground just like what we are seeing with top coins these days.

[Garden]

I never even thought about buying or investing in these NFTs. What good are they? Just put it in your collection with a big question about their price increase in the future? Take the top cryptocurrencies for example. They are liquid, a lot of things are bought and sold for them in some countries, they have a huge capitalization, a large trading volume with a chance to constantly increase in price.

[Gurujebs]

I never even thought about buying or investing in these NFTs. What good are they? Just put it in your collection with a big question about their price increase in the future? Take the top cryptocurrencies for example. They are liquid, a lot of things are bought and sold for them in some countries, they have a huge capitalization, a large trading volume with a chance to constantly increase in price.

I used to have the same question but I have concluded that NFTS are just small noise created to make people think some altcoins are worth the hype because if all NFTs are that valuable, you should have buyer quickly but what happened later, majority of the listed NFTs don't get traded for over a months or even more than.

We know that even shitcoins are traded and if you buy them from a person, you can resale it quickly in trade but NFTs don't get such treatment, it's only when there is a hype you see NFTs are sold, sometimes the traded ones are traded between the same person that has two wallet, more like wash trading just to make people feel it's trading real and worthy but it's not, just some random guys doing washing trading.

[TopT3ns]

I never even thought about buying or investing in these NFTs. What good are they? Just put it in your collection with a big question about their price increase in the future? Take the top cryptocurrencies for example. They are liquid, a lot of things are bought and sold for them in some countries, they have a huge capitalization, a large trading volume with a chance to constantly increase in price.

NFT does not provide a guarantee of profit, but if you have the desire to buy NFT then you should buy NFT which has the potential to provide a lot of profit because NFT is used on several online gaming platforms which will provide many benefits if the game can be used by many people. Risks that may occur In NFTs it is very dangerous because it can collapse instantly, but if behind the NFT there is a clear product then it will not cause the NFT to collapse.

[Mr. Magkaisa]

Stats from last year's Coingecko market report reveal a decline in NFT adoption compared to fungible tokens and the 2022 trading volume. This prompts consideration for aggressive investments in the sector. Noteworthy NFT-integrated projects like Mavia and the recent Animalia, an online NFT trading card game, have emerged showing a glimpse of prospect for NFT-related crypto projects.
https://www.coingecko.com/research/publications/2023-annual-crypto-report

As a non-gamer navigating the unpredictable crypto space, the drop in last year's NFT trading volume to 11.8 billion, in contrast to 2022's 26.3 billion, raises concerns. However, closely monitoring these NFT-related projects could prove rewarding if a different scenario unfolds this year.

The question lingers: Will this year bring a shift, or are there indices signaling a potential bullish sentiment for NFTs and their related projects?

         -   In my personal view, I think that NFT is part of the crypto space. In my opinion, maybe in many cases, NFT faces negative feedback or challenges. But I don't think it's that easy to just let it go because somehow it's still contributing to the crypto space.

The only thing that most NFT communities don't like is its market volatility, which is often the case because most NFTs have the potential for bubbles, and that's also why I found the risk to be high. And there are still others who love NFT investors.

[LogitechMouse]

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The question lingers: Will this year bring a shift, or are there indices signaling a potential bullish sentiment for NFTs and their related projects?

When we are in a bull market, everything goes up in value.
Shitcoin, meme coin, NFT, or whatever category they will fall to, most if not all of them will just go in price because we are in a bull market.

As for NFTs, still I will not change how I look at them, especially for those JPEGs out there that have been sold because it has a "VALUE" when in fact it haven't. As for NFT games, there are still projects that are being developed such as XAI, MAVIA, GOG, ILV, etc. Well, those JPEGs out there will always have value because people look at them like there is.

Overall, NFTs will stay in the crypto market as long as there are people who want to support them. Same with Ordinals.

[Doovla]

I'm really new to choosing NFTs and I don't know how much it determines the price of coins when it is offered in the step phase, I guess it takes a good part in the later profit as well as the good look of the project to further connect with the users?