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.

  • hstde@feddit.de
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    1 year ago

    So like art. No tangible assets, but the value is derived by the highest bidder.

    • Honytawk@lemmy.zip
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      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.