Okay so im sitting here wondering how I could have missed this opportunity in the space. Can anyone explain to me how this CryptoPunks collection grew to a point where it demands this kind of price? Is this digital monkey really going to appreciate to a value equivalent to the mona lisa some day? Is our reality a simulation and that's the only explanation?

elliott I'm actually very behind in the NFT realm, but I'm very interested in getting involved. That's quite a lot of ETH, so maybe this is a digital artists niche in the industry?

Matt A million dollars for a digital monkey.

Honestly elliott, I will never understand the complete value of NFT's. I think these prices are absurd.

to add to the discussion, unless im missing something, NFT's should be a 'Fad'. Let's assume blockchain tech becomes the goto method of data storage rather than having centralized servers hosting data (maybe, maybe not) I would assume then, every message relayed through a blockchain would then be considered an "NFT" including for example, having a messenger based app which you send your friend meme's on. That message would be appended permanently to a blockchain. Someone's really gotta clarify to me how an image hosted on a blockchain has value.

elliott Historical Context Significant Figure Published NFT 1st Mover such as "Beeple" In game limited run assets Sure. I can understand slightly how someone would have a desire to own these things. But a general market place for people like you and me to participate and be profitable on is tough to wrap my head around.

ALSO, right now NFT's are bound to a chain. I doubt any influencer, non techy person, grasps that they can not really transfer an NFT from lets say being hosted on the ethereum network to the cardano network or whatever. So that's an area I wonder if can be resolved with interoperability with ICX. Will it be possible to essentially migrate an NFT to another chain if/when a chain fails to continue with developer/network support or the chain just flat out fails.

elliott NFTs are going to be huge. Too bad I'm just not into them.

NFT Discussion

elliott

peter ugh, im feelin the same way. Wouldn't mind making a couple mil from digital monkeys tho 🐵🙊🙈🙉

Bdon

I don’t fully understand the NFT thing myself, but it seems like just the kind of thing that KIDS will send through the roof.

After all, I still vividly remember the Furby craze of '96, which I found incredibly fucking stupid.

gnignok24

I believe NFT'S will be explosive. Just looking at Activision/Blizzard sales and how they're basically dismantling all of Blizzards projects because CoD is making them ZILLIONS of dollars. (ok, slight exaggeration, but not really.) And what's the driving factor of their INSANE sales??? IN-GAME MICROTRANSACTIONS. Now, add that to a blockchain (such as FLOW and ENJIN- with working games already!!!) There is now a trading ecosystem available for every game with real value. WoW Auction house, but with real world value?! Diablo items you now OWN on the blockchain and can trade/sell for REAL WORLD VALUE?

What about Disney or Marvel or absolutelyfuckingeverything jumps on with all their characters doing some stupid card packs//magic the gathering style games - who knows!! The sky is the limit.
Fortnite, etc etc the list is infinite for new trading ecosystems for everything. All new money markets. /endbabble

edit: I foresee new gaming consoles that are tied into blockchains. They will double as miners, who knows!
And all this is just one aspect NFT's can be considered to have value for.

Bdon

gnignok24 Exactly my line of thinking. Microtransactions are where it’s at.

peter

gnignok24 Part of our app we're building for Emrit is going to include lots of gamification. It's a big deal.

josephcorey17

I actually posted a recent article about NFT's on the Forums!

josephcorey17

josephcorey17 Would love to hear your thoughts!

elliott

josephcorey17 Wish I got back to you about your article but lifes been nuts this year - but it seems like it was spot on looking at the current state of the market and the content itself was insane. My attention span in certain areas started to fail me on longer paragraphs but overall great quality.

josephcorey17

elliott Its okay mate! I seriously appreciate you man and I hope all is well. Its absolutely true, NFT's right now are incredibly hot but they're very reminiscent of the ICO Craze back in 2017. Always invest wisely my friend!

peter

elliott We're building NFTs! 🙂

elliott

josephcorey17 Definitely seems like its popping again! but this time around want to be on the creator side rather than consumer side.

@peter If your building NFTs im definitely interested in partaking in what you guys produce! noticed you stating on twitter about gamification and NFTs so that should be fun to experience 😃

Im Focused on simple testing to poke at the market - if there really as much interest as it appears then I'll most likely finally dive into development side for iOS. NFT viewers and such since something like that I don't see being really targeted as a threat. But we'll see!

below img will be me scratching that itch to produce a "product" around something many of us love, automotive and racing. Simple for kids, and nostalgic of old school games. I have no idea if it'll be successful but will be throwing it out there. Maybe something around 20-25 icx each seems like it wont be "greedy" for this wild space, but havent settled on it yet.

elliott

elliott @Matt @peter @josephcorey17 Have you guys tested out craft.network yet with any of your own personal creations?

josephcorey17

elliott Hello Elliot, yes we're building NFT's of our own and we're excited to discuss more in the near future. As a matter of fact, I have used Craft Network; I personally sold an NFT I won, the ICON Genesis Platinum Coin for 700 ICX. I also have 40 other NFT's from my own personal photographs that I've created. But more than likely Ill be shifting them over to our NFT's when the times comes. [=

elliott

Regardless of what happens, its fun thinking of this little concept and its coming together, pushed to craft - and will be seeing what type of response it gets 😃

elliott

okay, so further experiences shared. "NFT Projects" seem to re-emerge and gain mad popularity when others gain massive fame. EtherLambos was an incredible idea and execution but overlooked until years later when euphoria stage kicked in.

So Age + Thriving ecosystem = success?

Since we are in the early days of ICONs NFT's, maybe next cycle in 4 more years we'll all have a random project we create today pop like mad. LOL

josephcorey17

elliott Oh without question, its just like alt-coins that are silent and than come out of nowhere and pump tremendously. Such blockchain projects such as Tel, Holo, ONE and many others prove this point as well.