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.

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.

  • Alien Nathan EdwardEnglish
    17•1 year ago

    literally nobody fell for the grift

    Someone somewhere has an NFT instead of a bunch of money. Even if everyone participating knew this was a very expensive game of hot potato someone had to be holding the potato when the buzzer went off.

    • @[email protected]English
      4•1 year ago

      Yeah, a lot of the NFT craze was pump and dump where people were selling NFTs to themselves. Even that famous digital artist who got super rich did it because the guy who paid him was trying to inflate the market. But, like any con game, there are suckers. Many of them aren’t rich, just stupid.

      • @[email protected]English
        2•1 year ago

        A lot of FOMO from people who missed out on bitcoin saw this, and thought it was the next big thing. And for like seventeen seconds, it was