Don’t mess with NFT art! The reason is?

Don’t mess with NFT art! This is a hot topic right now, but I will explain it in this article. The NFT market has become a very hot market in the 2020s, and many investors and companies are expanding into it. While NFTs are rapidly expanding, there are many people who are sounding the alarm. What kind of risks are there with NFT art?

Why people say don’t touch NFT art

Many people say that NFT art is dangerous. This is because of the following settings and reasons. It is possible to sell images, but more and more scammers are making money by deceiving people to get started. If you do not understand and invest in the technology, you may be scammed by digital data services. In some cases, it is not possible to prove the ownership of the work, and there are cases where it is not possible to prove that it is a digital copyrighted work. It’s easy to get started with blockchain, but you’ll have a hard time if you lack knowledge about new products and copyrights.

there are fakes out there

A fast-growing market like NFT is also flooded with scammers. Due to such a background, fakes are on the market in NFT art. There is a risk that the NFT art work will be stolen and sold without permission. Other than that, it is said that it is dangerous to get involved easily because some people are caught by fakes and lose a lot of money.

few people earn

At the moment, a large amount of NFT art works are on the market, but the reality is that 99% of them are not profitable. Many of the works that are making money are those of celebrities, major companies, and even those who spend money on advertising. In other cases, I can see the reality that it will not be easy to purchase.

Legislation not progressing

This is a problem not only for NFT art but also for the NFT market. Despite the NFT boom, there are no legal guarantees. Even if there is an incident, it is not stipulated by law, so even if the NFT art work is stolen without permission, the creator is not protected and the world is over.

NFT is a pyramid scheme

Some have argued that the way NFTs work is a pyramid scheme. A pyramid scheme is an illegal business in which members increase membership in a pyramid fashion by soliciting people outside the organization. It is said that this system will surely fail, and it has been pointed out that this system will be certified as an NFT structure. There are people who call pyramid schemes the mechanism of rewards that enter creators when NFTs are traded between third parties.

price drops

Most of the NFT art works are destined to crash after listing. Most NFT collections depreciate in value after release. Like stocks, the price is quite unstable, so there are many people who are scared and can’t get their hands on it.

The future of NFT art

However, on the other hand, the NFT market itself is currently very active, and many people are optimistic about its future prospects. Although it cannot be said to be a perfect market as a whole, the number of people offering it is increasing, and big names are also participating in auctions and other events. We have summarized the points for each content. As a result, the purchaser may not always get what they expected, and some may end up losing money because the value is lower than expected. Of course, be sure to collect information based on your purpose.

celebrities enter

The NFT market is where famous artists and celebrities are actively entering. Perhaps because of that, the reality is that the popularity of NFT is increasing considerably. As a result, the volume of traffic has increased considerably. It is expected that the number of participants will continue to increase in the future.

Entry of major companies

The NFT market currently has a large number of individual investors, but it is said that individuals will not be able to compete in the future. The reason is that big companies are entering the market. Very famous companies such as Facebook and Square Enix are entering the market one after another, and Softbank and KDDI are expected to enter the market in the future.

Advertising on SNS

The popularity of NFT is increasing due to the promotion of NFT by SNS. There are so many people who advertise not only on Youtube, but also on Twitter and Instagram, so it seems that more ordinary people will enter this market in the future.

wide range of uses

Does it make sense to buy an NFT? Many people have doubts, but NFTs can be purchased and used as SNS icons, resold, and even used as collateral to borrow money. It has so many uses because it can be used in so many different ways.

NFT Marketplace allows you to enter the NFT marketplace and actually do business. To do so, you will need to open an account. If you want to sell your work, open an account. I also introduce it in the following article.


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