850

Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless. (markets.businessinsider.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

294 comments fedilink hide all child comments

Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.::NFTs had a huge bull run two years ago, with billions of dollars per month in trading volume, but now most have crashed to zero, a study found.

you are viewing a single comment's thread
view the rest of the comments

[-] Honytawk@lemmy.zip 15 points 1 year ago

The thing with art is that even if the art itself is completely worthless, the materials used are not.

You can sell a "worthless" painting to be used as firewood.

Same with digital assets, they can be sold to be used as templates or even to train an AI.

But a location in some useless database (which is essentially what an NFT is) does not.

this post was submitted on 21 Sep 2023

850 points (96.3% liked)

Technology

59623 readers

1004 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS