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.

  • nickwitha_k (he/him)English
    25•1 year ago

    Oh man. I remember getting downvoted to hell for stating that they were a scam and provided no actual value or true, to technical “non-fungibility”.

    • @[email protected]English
      9•1 year ago

      Well, NTF is based upon the Greater Fool Theory.

      So if those with invested interests are unable to find a bigger fool to sell them to, those NFT become worthless.

      You got downvoted because you were interfering with money from the NFT investors.

    • @LukeMediaEnglish
      4•1 year ago

      I feel like a lot of people probably knew that to some degree, but didn’t want to believe it to be true. Supposed to leave your emotions at the door when trading stocks or crypto, but a lot of people don’t seem to do that.

      • nickwitha_k (he/him)English
        3•1 year ago

        Yup. Does feel good to be vindicated for being willing to honestly express reality, in spite of willful delusion and ingnorance. Not that I am happy for those that suffered immense losses but, they can’t say that they weren’t warned.

    • @tungahEnglish
      1•1 year ago

      deleted by creator