95% of NFTs are Dead - Trends, Predictions & Statistics 2023
dappgambl.com
Are NFTs (Non Fungible Tokens) dead? Maybe so. We analysed over 60.000 NFTs to find out which ones are still valuable.

TL;DR: The NFT market has drastically declined since its peak in 2021, with most NFT collections having no value. There’s an oversupply of NFTs, leading to a buyer’s market, and environmental concerns due to energy consumption. Top NFTs also struggle to maintain value, and the future of NFTs depends on utility and genuine value rather than speculation.

  • Pons_Aelius@kbin.social
    0·
    1 year ago

    NFT technology will not go away.

    NFT’s are nothing more than digital receipts. They do not stop copying what ever the receipt points to and they are nothing special at all.

    If the web address your NFT points to disappears due to the site shutting down. Your NFT is beyond worthless.

    From the Economist.

    Quote:

    To “own” one means having your ownership recorded on a digital ledger—nothing more.

    • bionicjoey@lemmy.ca
      1·
      1 year ago

      Digital receipts are easy to do without mining crypto. Just send an email. Use a postgres database. There’s literally nothing offered by nfts that can’t be done less stupidly another way.