![]() ![]() Presented at the 2018 International Conference on Information Networking (ICOIN), pp. Blockchain: Challenges and applications, in: 2018 International Conference on Information Networking (ICOIN). Tasatanattakool, P., Techapanupreeda, C., 2018. Blockchain Explained [URL (accessed 1.21.22).ĪlexWGomezz, n.d. Want to learn more about NFT? Check our Bibliography right here!Īdam Hayes, n.d. Sure, it may seem like it’s an investment now, but you can never be sure. Understand how much you can spend on NFTs itself and never go bankrupt on purchasing any NFT. ![]() Always make sure that you’re not buying fake NFTs made from stolen artwork because it’d definitely would be a bad day if the NFT that you have invested all of your life savings on to suddenly be taken out of the market. See how much has been bought, their market price, and the credibility of the seller itself too. Always check first the NFT that you are going to purchase. It’s always best to use recommended sites such as OpenSea, for example. After all that, make sure you avoid scam NFTs, especially the Ponzi scheme types. If you’re ever interested in hopping on the NFT hype train, it’s always best to ready yourself and understand what and how NFTs work. If anything, I’d argue that the application of blockchain used as a form of verification and identification of ownership will outlast the NFT hype and culture itself. A concept and technology that has infinite applications when we really think about it. A decentralized method of transaction that is crowdsourced is a fantastic concept to begin with. If anything, if reading this article makes you feel negative about it, it shows what stance you have towards NFTs, and aren’t we all entitled to our own opinion? But the takeaway of this is to understand that there is an amazing technology that is happening with NFTs as we speak, and that is the blockchain itself. Of course, this article isn’t here to convince you about NFTs. Question 4: I’m still not convinced about NFTs, it kind of sounds like a scam, doesn’t it? A rather grim future for NFTs.Īlthough we can’t say for sure how the future of NFT will be like, we can look at the applicability of the blockchain itself! Today we start with ownerships over monkey jpegs through the blockchain, yet tomorrow we might be able to do so with house certificates! Proof of ownership that is transparent yet also secure and entirely unique to yours is what the future holds for blockchain! This becomes an issue because not only is the market flooded with worthless NFTs, but also a breach of personal data too. Ranging from pictures of traditional Indonesian foods, selfies, and even their own Kartu Tanda Penduduk (Indonesian identification card). Catching on the hype train, many Indonesians have flooded the OpenSea market with NFTs of their own. Ghozali became an overnight success due to his consistency in taking and selling his selfies as NFTs in OpenSea since 2017. ![]() Copying Ghozali’s success, many Indonesians have attempted to replicate his formula. Due to its popularity, boasted by the success of Ghozali Everyday too, many people have tried their luck with NFTs. Though that may be, we’ve seen now how oversaturated the NFT market has become. Some people can’t justify the crazy prices that NFTs tend to be offered for, yet at the same time, these NFTs tend to also sell for crazy prices that make people just want to hop in with the hopes of making bank with them. But sadly enough, due to the pricing of NFTs itself, it could be hard for everyone to adopt or even use at all. If we look at the current trends of NFT, its association with hustle culture, and living life through investment, NFT is most likely to stay for a while. We can’t really say for sure because NFT has only just begun, but what we can do is speculate. Question 3: So, what’s the future for NFT like? ![]()
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