Rohas Nagpal’s Post

Well my 2 cents for that is we always will have people misusing gaps on the regulatory side when there are huge financial upsides involved. I think this is a normal process we see when the speed of technology is way faster than the regulatory side. I even think this is awesome because when fraud and crime is happening regulations are kicking in a faster manner (compare it to the same ICOs in 2017), we just need some huge frauds where the regulators understand that they need to act now. I truly believe that NFTs are there to stay and we just need better and global standards of what is allowed and what not how we protect IP and then we will see tons of new ans legit use cases. Ignore scammers, fast NFT flippers, weird and unserious biz models and try to search for real use cases, honest teams and believe that we are still early and that decentralized technologies will for sure be a part of our daily lives w/o being so much discussed about because they just a hidden tech commodity that everyone will use one day.

I am working on an NFT project that tokenizes the ownership of hospitality properties around the world and pays holders a share of the profits from the rental business. We are still just scratching the surface of what NFTs and other token types will mean for users and investors. The NFT market will crash just like the dot com crash but we didn’t stop having dot coms after that crash it just mean that the money and ridiculous valuations being tossed around were corrected and investors became more cautious. This is healthy and necessary.

The fact that there are lots of plagiarized NFTs, scams and wash trading does not mean that all NFTs are scam, it means that users must be careful. Arguing otherwise would be a logical error. As to the use cases that this article called “increasingly more nebulous, abstract, and unwieldy”, this is simply not true. Nowadays NFTs often propose a clear vision, give owners IP rights, accesses to product/services/communities. A well-built NFT project is never a simple jpeg.

Replace „NFT“ with „Bitcoin“ and this piece could be straight out of 2012. Yes, there is early day chaos and the unavoidable scams in this new market. But this does not affect the future potential, hence the valuation should mostly reflect the opportunity. I do not expect drawdowns bigger then the usual crypto vola.

NFTs as described here are just one basic application. Its gamified at the moment. Make no mistake more and more assets will be represented by nfts recorded on the blockchain. I wonder what the Medici experienced when they presented a banking ledger in their times.

Great insightful post, with lots of juicy bits that are new to me and my gut was telling me "this must be" (looking at you, Beeple and MetaKovan). This being said, and talking as a neutral non-NFT owner, let's still agree you went for clickbait in your first line, right? Cause if rampant piracy was the proof something is failing and doomed forever, then how on earth did the Internet survive the nineties, MP3 format the early 2000s and YouTube through the second half of that same decade? There will be a bubble crash, I'm with you. But the tech and eco-system will survive, evolve and a few winners will emerge, would be my bet. Like the dot com bubble really. And yes, that means all valuations are completely off the mark at the moment, like in 1999 with dot com stocks. But that's not the beginning of the end, that's the end of the beginning. Buckle up.

We have to separate nft( contracts) from creative product. The huge progress the latter has made due to chip advancement, affordable machines and open source, is just remarkable. NFTs are important for creators to provide them recurring royalties. It is possible that nfts will be replaced in this matter with something else. Or these won't. But the mindless shilling and hacks are not adding anything either to crypto coders or creators. The solution is two fold- private markets and ethical DAOs, both accountable to specific jurisdictional laws. 

I think people right now use NFT as a simple jpeg they can sell at a higher price which is to me a ridiculous use case. A better example of nft’s utility is Axie and it is just the primary version of what NFTs could really be. The more real uses (like a digital weapon you can carry within several video games or a virtual car which give you the real sensation to driving it as soon as you wear you VR helmet) the more you’ll see the true value. For that we need the digital universes ready which is not the case right now. JPEG hype can be seen more like the .com bubble in 2000 but the concept of NFT itself is much more bigger and here to stay to me.

When YouTube was launched, people used it as a dating platform. But we all know where YouTube stands today, and how useful it is, especially in learning. Similarly, For NFT's, some people have misunderstood the concept entirely and are using it for purposes it was never meant to be. I am waiting for the time when it attracts users who can utilise it's potential and can do justice with the Idea. Till then, "It's not my expertise, So I am out".

New problems? New better solutions! It’s that simple. Take a look at the NFT app VeVe (Ecomi) that sells ONLY licensed NFT’s from i.p.’s like Disney, Marvel, DC, Coca-Cola, USPS, Cartoon Network, Star Trek and many more. https://medium.com/@HumDog/will-ecomis-licensed-nft-s-veve-app-flip-opensea-6e620aa3a8b5