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95% of NFTs are Worthless: Report
(petapixel.com)
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this post was submitted on 21 Sep 2023
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Technology
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The news here is that, contrary to popular belief, 5% of NFTs actually still hold some value.
The real question would be: how many of those 5% can be sold for more than the initial asking price.
...but NFTs were never for the buyers, they were for the creators: even if they fall to 1/1000000th the initial value, a 2.5% cut on every sale is still more than 0.
If the values fall low enough relative to transaction fees then there won't be any transactions at all for creators to collect royalties. Also values can drop to literally $0 if it isn't even worth a buyer or sellers time to deal with the NFT (i.e. seller can't find buyer at any price or doesn't bother trying).