30/11/2021 'You can gain everything and you can lose everything' — here's why experts remain skeptical about the NFT market

Non-fungible tokens — unique digital assets, like artwork andsports trading cards, that are verified and stored using blockchain technology — exploded in popularity in 2021. People create, collect and trade NFTsfor millions of dollars, some with the hopes to profit in the future. But experts are still skeptical that NFTs are a good investment.

The surge in NFTs is still fairly new, but massive amounts of money has already exchanged hands among collectors. Since 2017, for example, NFT collectibles have generated over$6.2 billionin sales while digital art has generated over$1.9 billion, according to NonFungible, which tracks historical sales data of NFTs.

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"I think things like artworks and collectibles have become the big commodity of NFTs because they naturally fit into what NFTs are," according to Jon McCormack, a professor of computer science at Monash University. "Digital being copyable, having this extra Certificate of Authenticity is really important to show ownership of that particular thing."

Researchers are concerned that it may be a bad time to enter the market, which has grown too big, too fast under immense hype and speculation. NFT trading volume grew 38,000% year-over-year to hit$10.7 billionduring the third quarter, for example, according to ananalysis by DappRadar, a company that helps people track NFTs and other decentralized assets.

"This may well be the apotheosis, the peak in the paradigm of everything bubbles," said Michael Every, Rabobank's head of financial markets research for Asia-Pacific. "It worries me intensely even if I fully understand the dynamic that drives younger people in particular."

Experts suggest buying an NFT because you want to own it, not because you want to get in on the hype.

"Don't buy it because it's an NFT," said Evan Cohen, co-founder of Vincent. "Buy it because you like the art or buy it because you think the collectible is cool or the community is cool. You want to participate for the asset, not the underlying technology that powers this."

Arts

https://www.cnbc.com/amp/2021/11/29/heres-why-experts-remain-skeptical-about-the-nft-market.html

Interesting NFTs
Who is Satoshi Nakamoto?
"Who is Satoshi Nakamoto?" is dedicated to the mysterious creation of Bitcoin, and acts as the showcase artwork within Javier Arrés’ exploratory series "Bitcoin, The Origin". "Who is the creator of Bitcoin?" The artist, Arrés, explores this question, and the feelings of doubt and mystery that accompany it, through his unique artistic language. An unknown, an enigma. It should be remembered that the name Satoshi Nakamoto is a pseudonym of Bitcoin's author or authors and gives us little insight into its true creator. For this Visual Toy, Arrés uses the signature claw machine, his famous half-operation, to symbolize our collective ignorance and unconfirmed belief: As soon as it has the stuffed animal within its grasp and appears to have solved the puzzle, the animal escapes again, and again. At present, there are three more public and studied possibilities who are either believed to be the creators of the currency or who directly claim the creation of it. It may be all or none of them, yet these three personalities leave us clues which are an important part of this interesting enigma. For this moment, it will remain unknown... In this artwork, Arrés elevates the claw machine from the apparatus, to an iconic pop art object serving as an important element to the Bitcoin creation narrative. Action is everywhere, with each movement serving an iconographical or metaphorical purpose related directly to cryptocurrency: Various ups and downs, roller coasters, mining points, robot, coins and more speak to a sense of hope, risk, mystery, randomness and possibility of pay out. Hundreds of manically thought out details make this creation one of the artist’s most complex Visual Toys to date. ------- "Bitcoin, The Origin" is a set of two Visual Toys, titled "Who is Satoshi Nakamoto" and "It’s Alive!" which reflect and explore the mystery and enigmas behind the creation of Bitcoin. Arrés presents these proposals to us in his signature style, full of iconography, fantasy, maniacal animations and a panoply of details (both subtle and overt) which simultaneously fascinate, hypnotize, and narrate this historical milestone through the singular vision of the artist. Through this series, Arrés freezes a crucial moment of cryptocurrency history, taking a still photo under his vision and turning it into two unique crypto artworks. ---- More info about Javier Arrés: https://javierarres.com/about.html
Smile to Shreds, Neon Gwen
The First KayPikeFashion Mint Ever. Ever feel so joyful and were grinning so hard you felt you could split in half? That punk rebel yell of glee when you pull of a particularly refined stunt? This is the paint of dreams, fangs and neon. Hellish and hard to pull off. I was able to with this work quietly paint a sweet inner tale of childhood influences, rat fink and autobody shops. All while pretending to paint gwenom for the audience. More on that in bonus material. This is my alternate animation made specifically for crypto art collectors. It will only ever exist in this format. You get the Shiny, unused in media verified image. More on that in the bonus material. Mixed Media: Bio/Digital. Glycerin on 5'9" human skin 10-14 hours Performance art. Shot on Canon EOS RP. 16 + hours Photoshop and DaVinci Resolve. All Works are SFW. Art has been Seen on the front page of Reddit, Featured in the New York Times, Galileo.tv, and multiple other promotions including Twitch.tv, Disney Interactive, RIOT games, WB games, AMD and more! More on how this art is unique and potentially explosive in the NFT world: https://youtu.be/CXbNF2Y6srs ------------------------- The purchase of this NFT Grants the buyer unique bonus material. Physical Mail Bonus Package: A verified physical Art Print. Autographed from the artist in 12x16. Please allow a few weeks for delivery. Digital Bonus Package: This image in .mp4. An "About the Art" Video and an "From the Artist" introduction. A README.txt about the artwork with some personal notes and Links relevant to the artwork.
CryptoKitties
Sup playa! I'm Kitty #307325. I'm a professional Spin Instructor and I love wet food. When I'm not practicing witchcraft, I'm running a podcast! Let's get busy!
David vs the Virus
"An ode to the year everything changed" - Frank Wilder The story of the underdog is a reoccurring theme throughout history, and perhaps the most famous example is that of David vs Goliath. A tale about perseverance, in which David takes on and defeats the giant warrior using only his smarts and a stone. Famously depicted by Michelangelo's David statue. Fast forward to the present day in 2020 and we as humanity are faced with our own Goliath. An uncontrollable pandemic spread around the globe. Now with the entire planet being affected by this we understand the gravity of the situation at hand, whether it be a virus we’re fighting or other forces at play, there is indeed an energy out to shift the balance of the Universe… Regardless of our differences, in this moment must unite as one. With diligence, trust and belief we as a whole can come together to triumph against "the enemy". Stay vigilant my friends. Original score created by the one and only Phoenix Wilder.
Alien
There are infinite worlds in the Universe with infinite sentient beings inhabiting them. Master autonomously updates once a day at 12am with one of 366 original artworks, showcasing some of the rarest beings, their cities, transport, technology and nature.