Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => NFTs & Collectibles => Topic started by: Master107 on March 19, 2021, 04:20:05 PM
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NFT ( NON - FUNGIBLE TOKEN) are the types of digital content connected to the blockchain ecosystem. Every NFT can be represent as a very unique digital item, but they are not interchangeable like Bitcoin, Ethereum and Binance. NFT/s can be more on or represented as a digital files like video, audio, art/s and other forms of creative works.
After DeFi, Do you think NFT will be the next trend in crypto?
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NFT has long been the trend. If you can call "long" a period of 3 months.
And right now it is stagnating.
But I think that it will not just stay with the trend, it will continue to develop, the market for NFTs.
In my opinion, it will also outperform DeFi.
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The NFT market reminds me a lot of DeFi last year when still under 1 billion. It looked overvalued around $500 million locked up capital, then grow to over $50 billion within 9 months. Now there is integration of Index Funds from $NTFX for $WCK $PUNK $MASK and $MCAT20 NFT collections, based on the floor price with liquidity provided from a pool on UNI or SUSHI. I don't think much of NTFX yet, but their Indexes are amazing for providing liquidity to NFT collections.
There is even PUNK-FEMALE and Gen0 as well as Virgin CryptoKitties Indexes, so it seems obvious it will integrate into the cryptocurrency space once gaining traction over 1 and 10 billion evaluations. After, crypto types prefer exchanges than auctions, investors prefer charts and shares rather than collectibles generally speaking.
For reference sake, sales of digital art have now reached $113 million ($55m in hashmasks) and over half of this was in the past month alone ($60m):
https://nonfungible.com/market/history
This makes it probably one of the fastest growing industries within the crypto as well as art space. Based on volume, this makes it around 1% of global art sales per year based on last months sales ($720m out of $69 billion), while by comparison, not even 0.1% of crypto monthly volumes of around $60 trillion!
In fact, with $60 million monthly volume compared to $60 trillion, it makes up only 0.000001% of crypto volume :o
I'm still waiting for a $WCPU Index for Wrapped PU CryptoKitties (limited ediition) as have some Xmas 2018 cats I'd like to liquidate eventually. In the meantime, I'm noticing great arbitrage opportunites between the auction market (when buying bundles) and the Index Funds, upto 30-40% right now :)
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I think the spirit,influence, and presence of NFT/s is coming to the forum maybe soon as the President is on business.
NFT platform is quiet essential, wider, and also a busy part of humanity. Not impossible to be the next big thing to explode. For me this is a good sign https://www.altcoinstalks.com/index.php?topic=198293.msg1120375#msg1120375
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NFT is very trending this days just like every other trend that came before it, before it was ico, then it proceeds to ieo, down to defi, now it is nft time, every trend always bring some hype and that's what happening with NFT, am also a bit concerned though about how some nft are very pricy, does it really worth spending so much money on?
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The future trend looks like Nft tokens. However, as with defi tokens before, you should be careful about defrauding Nft projects. Since Ico's time, fraud projects have caused many people to go bankrupt. It is useful to thoroughly research the Nft investments you will make and then invest.