Re:Why the NFT Craze Is a Bubble Waiting to Pop
by ziml77 on Tuesday March 09, 2021 @01:32PM
(#26401941)
I thought Bitcoin was going to be a bubble that would eventually burst, but it's still growing. At this point I don't see it stopping despite still being a speculative investment for most people.
If anything I believe NFTs actually have more staying potential. People love to show off their wealth by having something unique. NFTs allow this in a digital space. They also can act as a speculative investment like Bitcoin. And because they're non-fungible I actually think that there's less potential of a bubble. With Bitcoin, if one Bitcoin is devalued, they're all devalued. With an NFT, if one token is devalued, only related tokens should lose value (by related here I mean tokens that do represent the same thing like the 50 copies of a sports video discussed in this blog post).
If anything I believe NFTs actually have more staying potential. People love to show off their wealth by having something unique. NFTs allow this in a digital space. They also can act as a speculative investment like Bitcoin. And because they're non-fungible I actually think that there's less potential of a bubble. With Bitcoin, if one Bitcoin is devalued, they're all devalued. With an NFT, if one token is devalued, only related tokens should lose value (by related here I mean tokens that do represent the same thing like the 50 copies of a sports video discussed in this blog post).