NFTs On Hive: A Look At The Overall Market And Where Hive Fits In
The NFT market is a bit nutty. That does not take from the fact that it has an incredible future. NFTs are going to be the "deeds" for the online world.
In this video I discuss the role Hive had in the NFT market and what the future might hold. Naturally, with Hive, we are dealing with a Layer 2 solution. This is something that should be a vital part of Hive's future.
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@pixresteemer(1/10) gave you LUV.
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HiveBuzz.me NFT for Peace
NFTs are the "deeds" for the online world is a great way to quickly explain what NFTs are/will be once everything is in full force.
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Deeds hmmm, yeah that means we should put a lot of focus on the publisher, because he needs to be an authority.
I honestly don’t like the orientation about Nft given to some random guys I see on twitter. I mean, these guys don’t even know the real use case of Nfts. They think it’s all about minting and seeking for buyers. No use case, nothing. This is why I think if nft is seen in that manner, then it’s probably not the best approach to crypto. but as you’ve mentioned, if it’s being used for Gaming, then that’s a real use case. Also, nfts will be amazing if used for meeting invites.
I really don’t blame those people minting just anything to sell it. It’s because they only need to communicate with a smart contact from a front end. While on hive, anyone without a programming knowledge can’t deal with it.
However, sometime ago, Blocktrades published a post on easing development on the hive blockchain. I think the post talked about implementing something similar to smart contract. I missed track on that trend.
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Oh! I see why Layer2 is far better than smart contacts. https://hive.blog/hive/@blocktrades/hive-s-future-as-a-2nd-layer-blockchain-network
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Many shit NFTs are making it questionable and many people doesn't realize the actual use cases and as a result millions of dollars are just spent in unnecessary NFTs.
There are just way too many NFTs without use cases but you are right about NFTs being very primitive during the first iteration. I wonder if people will even fall for stuff like the bored apes once the market develops.
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To many out there that do not have any use case.
I didn’t jump into it (creating I mean) when all my artist friends did as I didn’t see any purpose for them then.
I can imagine when used wisely they will become another tool that can be utilised for different things. In a multitude of markets.
When they can change something, mean something or have a true use case.
Interesting to follow.
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Loads of NFTs are coming out in the market and one really has to know which ones are worth investing in to. Too often, many just jump in with the thought of making a quick buck only to be disappointed later.
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You make money buying them underpriced and realize the gains selling them again. Same old game game, different looks. Those 2-3c$ cards in Splinterlands, they will go up to a dollar if the game keeps going.
That's right. And you mentioned about Splinterlands, I have yet to check the game or their cards even. I've been procrastinating, lol!
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Later bloomer can still become long lasting :)
That's true though, never too late to learn :)
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Very true
There so much circle selling in the NFT Space, it’s naughty. The IO of the whole system should be observed with a lot of caution considering the participants and the #hodl time frames.
Summary:
In this video, the speaker discusses the NFT market, specifically focusing on the NFTs on Hive and the general state of the NFT realm. He mentions the disappointing sign-up numbers for the NFT platform launched by Coinbase, emphasizing the importance of innovation and utility in the NFT space. The speaker praises projects like Splinterlands for their successful NFT implementations in gaming and criticizes the hype and speculative nature surrounding NFTs, drawing parallels to the ICO craze. He highlights the potential for NFTs to revolutionize areas like online ownership and digital assets but cautions against the current flood of uninspired NFT projects. The speaker also mentions Hive's lack of smart contract capabilities at the base layer and discusses the possibilities for NFT development on Hive's layer two.
Detailed Article:
The speaker delves into the topic of NFTs on Hive, offering insights into the NFT market and its current state. He starts by discussing the low sign-up rates for Coinbase's NFT platform, contrasting the enthusiasm for NFTs with the underwhelming adoption. Despite this, he expresses his belief in the technology behind NFTs and their future potential for areas like internet deeding.
The speaker criticizes the present state of the NFT realm, noting the prevalence of projects lacking innovation and utility. He singles out successful implementations like Splinterlands, where NFTs are utilized in gaming, showcasing their practical value. Additionally, he mentions projects using NFTs to offer subscription services or access, highlighting diverse use cases beyond traditional collectibles.
Moreover, the speaker draws parallels between the NFT market's current state and the ICO craze, cautioning against speculative investments in uninspired projects. He emphasizes the importance of utility and creativity in NFT development, calling out the prevalence of copycats and suggesting that true innovation is yet to be fully realized in the space.
Furthermore, he discusses Hive's limitations regarding smart contract capabilities at the base layer, detailing the platform's focus on layer two solutions for NFT development. He mentions Dan's game Ragnarok and the upcoming airdrop of NFTs, underscoring the importance of utility and community agreement for NFT value.
The speaker concludes by encouraging viewers to observe the development of the NFT market, highlighting the role of genuine innovators in shaping its future. He stresses the significance of open-source collaboration and individual ownership of NFTs, envisioning a future where NFTs could find diverse applications beyond the current hype and speculation. Through his insights, the speaker provides a nuanced perspective on the NFT market and its potential trajectory, urging caution and innovation in navigating this evolving landscape.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.