NFTs are now worthless | Smarter Dev | Page 1

grim spear Sep 25, 2023, 11:02 AM

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Less than 1% are worth more than $6,000
95% are worth 0 ETH
That's insane! In 2022 NFTs peaked at $2.8 billion of monthly trading volume.
https://markets.businessinsider.com/news/currencies/nft-market-crypto-digital-assets-investors-messari-mainnet-currency-tokens-2023-9

Markets Insider

Remember when NFTs sold for millions of dollars? 95% of the digital...

NFTs had a huge bull run two years ago, with billions of dollars a month in trading volume, but now most have crashed to zero, a study found.

fair raven Sep 25, 2023, 11:25 AM

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best outcome

grim spear Sep 25, 2023, 11:25 AM

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Haha

dull ravine Sep 25, 2023, 4:54 PM

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grim spear - Less than 1% are worth more than $6,000 - 95% are worth 0 ETH That's insane! I...

They always was tbh, it's like art... only worth what someone is willing to pay for it; there's no material cost.

grim spear Sep 25, 2023, 5:06 PM

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I think it's less that there was no real world cost and more that they're more like a luxury good, there's only value so long as there's interest.

Art is the same as NFT's. It's a luxury good and anyone can create it. The difference is that NFT's failed to maintain interest, they were a fad. Fad is over, there's no more interest, so there's no more value.

So, yeah, they're only worth what people are willing to pay, the fad ended so no one wants them anymore.

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Web3 beanie babies

compact socket Nov 4, 2023, 2:32 PM

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Tax deductible

hardy sapphire Nov 5, 2023, 3:18 PM

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It'd kinda have to have something tangible and taxable to be deductible, heh

#NFTs are now worthless