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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

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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.

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[-] merc@sh.itjust.works 7 points 1 year ago

And the receipt isn't necessarily unique. The centralized world of Web 3 decided mostly to use Opensea(?) for NFTs, but it isn't the authority on who owns URLs. It's just the biggest, most commonly used "star registry" that let people claim that they owned certain stars. But, the same "stars" could be sold by other people on other platforms too.

this post was submitted on 21 Sep 2023

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