this sums it up pretty well, lol
NFTs are fun, but they are not investment worthy unless youâre buying from the top 0.1% of artists. And that means spending millions.
Itâs essentially a gatcha game, so have fun but donât expect anything to be valuable after you buy it.
Just to have this on record.
Digital collectables are a thing, and they have been for a few years. Look at Star Wars, Marvel, and Disney collect apps by Topps.
Or look at Quidd, which has been around since mid 2016.
When someone says, âIâll just screenshot it and be satisfiedâ whatâs the difference from someone who prints a proxy of a card for a binder.
Most people here scoff at someone with a proxy card.
I think NFTs help prove digital collectables can provide ownership; however, they are not required.
As an example, the Quidd app has digital collectables (which are not NFTâs) that have millions of copies each. For the current collectors, this does not detract from wanting to âcollect them allâ in fact it makes it easier.
If you collect NFTs, collect because youâd be happy with the art/item even if the price falls to 0. The same has always been said about physical collectables. Personally I donât see much of a difference.
NFTâs will succeed the more the market growsâŠany collectible market is worthless without a large amount of participants to constantly create new price highs or at least keep a certain ââmarket valueââ on items.
Donât forget at a certain point in time PokĂ©mon cards werenât worth that much. Its explosion happened in less than the past 10 years.
Itâs human psychology to want to own certain items that normally you may not care for if they werenât great show pieces 
For me it seems the only purpose of NFTs is to make a lot of money and fast. Contrary to cryptocurrency (which I also stay away from because of the volatility) which was founded on the idea of Blockchain and decentralising currency and blabla, for NFTs it seems that the only purpose is for people to invest in what I feel is forced collectibles.
Clearly other people made stonks on adapting to it early, and maybe the ones adapting now will also laugh at the ones who didnât in the future. Iâm staying away from it tho 
everybody has many opinions, I obviously have my own. I have about ~$400k worth of cryptopunks (3 of them) and almost nothing else. Considered buying a few beeples but I donât understand the art space well enough. Iâve also put some $ to sit in for all of the first editions of established franchises (i.e. street fighter, etc.) and will likely continue to do that. I am keeping almost 0 exposure otherwise, almost 0 exposure to new NFTs, and may sell 2/3 of the punks post Christies auction.
I both think NFTs are an insane bubble atm and simultaneously think it will be absurdly massive moving forward. 99.9% of it will die, a few of them will thrive to extreme success. Just like most CCGs/TCGs or anything else collectible. A few big winners, a lot of death otherwise. As always just collect things you find interesting and enjoyable and donât try to stonk collectibles too hard or you will likely be very disappointed in market conditions different than one of the greatest global bull runs of all time across all sectors while the world prints so much money they canât even publish a proper M2 anymore 
.
Give me a device like a handheld hologram projector that can display 3D images that are able to be manipulated to some capacity and maybe weâll talk.
Other than that, I have no interest.
Amazon etc were bad investments in the dotcom; you would have made magnitudes more money buying after the bubble burst
Fact
All Iâm seeing is a messy marketplace where the people who already have massive clout behind them can succeed beyond their wildest dreams financially while a really convoluted solution exists below that.
I have friends minting random DBZ GIFs as NFTs, some with their original watermarks still on them (ironic on many levels, yeah?) and Iâve seen people stealing art from well-known artists to attempt to trick people to buy their ârealâ NFT. Is it that different from a proxy PokĂ©mon card? Maybe not, but itâs a bit annoying to see the war between âwe want fully decentralized artâ and âclearly you idiots canât maintain a useful, productive creative platform that doesnât promote stealing/low effort money grab attempts without any regulationâ.
Iâm sure I have a lot more to say but that just came up off the top of my head⊠ramble overâŠ
Donât even try to defend the gigantic amount of energy that people chasing this crypto BS are using. Almost nobody gets to âdecideâ what kind of energy they use - most power companies swap carbon credits or otherwise trade dirty kwh hours for clean with other companies to sell the facade of of âyou will only use clean energy, we promise!â to customers.
Energy use is not a valid defense of the âmiddlemanning-arbitrageâ bullshit that consists of NFTs.
Iâm out on NFTs and willing to miss out on financial gains by being one of the first to market because Iâm just not interested in collecting something I canât hold. With that being said, I recognize that the younger generation is already used to collecting items in digital format (fortnite skins being the biggest example I can think of). Could be big in the future but I donât have FOMO.
This pic killed me lmao
NFTs are extremely dumb. Itâs a stupid concept with essentially zero utility and nothing backing it. The only potential future use I can see is as a verification system for the owners of tangible items, verification of ownership of digital event tickets, etc., but thatâs not what people are talking about right now and itâs probably a long way off. NFTs will never be a status symbol or conversation piece the way tangible art and collectables are. What are you going to do with your GIF of LeBron James? Set it as your desktop background? If somebody told me that they were the proud owner of a $10k NFT, I would not be impressed or think it was cool; I would think the buyer was an idiot.
The hype surrounding NFTs is manufactured. The whole trend is a silly cash grab to take advantage of the influx of social media âentrepreneursâ âinvestingâ in Forex and stocks without a comprehensive understanding of either. Throw the word âblockchainâ on any nebulous new technology and youâll find a million suckers who think itâs the next big thing. Blockchain tech is cool, but itâs neither useful nor necessary 99% of the time.
Who knows, maybe Iâm an old man yelling at a cloud.
This thread single-handedly restored my faith in humanity.
Fwiw I think you have this backwards, the social media âentrepreneursâ have latched on to emerging technology to make a quick buck⊠the technology was around and built without them in mind at all and they certainly werenât the primary use case. I also find it funny how so many people seem to have such a grasp on this stuff without being remotely involved in any way or even doing the slightest due diligence. The energy claims and boiling the ocean are absurd but thatâs easy enough to debunk but people like to look at tiktokârs napkin math rather than, oh, you know, actually look at what all of the largest mines in the world do or look at peer reviewed data. Next donât bother that now a supermajority of the richest men in the world, best investors in the world, public markets, publicly traded companies are now paying attention to this space⊠itâs totally useless and youâre definitely right!
seriously so many people in this thread ngmi
You guys are doing the same thing most of the world did to you when this was a small hobby that very few cared about. You were ahead of the curve on an emerging trend here, or happened to be in a trend for love that happened to break into a broader cycle! Learn from it, explore, and prosper.
signed - a guy who has found, invested, and participated in 3 of the largest expansion markets of my lifetime from near inception and has been fortunate enough to have done really well doing it. Keep an open mind, pay attention to markets that literally have the potential to shift the trajectory of something forever, and if you think itâs dumb itâs fine but like actually have an informed opinion on what it actually is before misquoting half truths and instagram tidbits.
As I mentioned before,
Do I think NFTs are a massive bubble and most are very dumb? yes.Can I see a world where the large majority of ALL collectibles is digital? yes.
The second does not need to be very likely if itâs 100-10,000x upside on itâs outcome.
(caveat, this market is much further along than 10,000xs at this point, valuations are too high. more general principles evaluation)
Not sure but I donât believe any nft buyers were forced to do so.
If anybody wants to create an nft about me and asks nothing in return, contractually gives me 50% of all proceeds before costs, and doesnât sell to minors nor force anybody to participateâŠIâm in;)
Out of curiosity do you already have a position in nfts for the purpose of being collectables? I assume so because your initial question implies it. Is it motivated more so by a financial potential or more so because you are interested in art/sports?
Perfect for the generation that will spend 90% of their waking life in front of a screen. Personally, I like to go outside.
Also the environmental impact of mining is completely disgusting.