Unbelievable. I can’t imagine this. NFTs are worthless.
A new report shows that the non-fungible token (NFT) market has essentially collapsed, and nearly all NFTs are practically worthless.
As seen on Insider, dappGambl’s study investigated 73,257 NFT collections, 69,795 of which have a market value of zero ETH.
“The hype around NFTs peaked in the 2021/22 bull run that saw nearly $2.8 billion in monthly trading volume recorded in August 2021. From this, NFTs captured the collective imagination worldwide with multiple news reports of million-dollar deals for sales of certain NFT assets,” writes dappGambl.
You mean that hype and histrionics don’t add immense intrinsic value to abstract vapor? So many capitalist entities just shuddered with the sensation that someone is walking over their grave.