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.

  • The Snark UrgeEnglish
    1•1 year ago

    In the situation I’m referring to, the issuer has no control over the asset once it’s been bought; it would be sold to another buyer, and the transaction could be done on any third party marketplace. In return for loss of this discretionary power, the issuer receives a cut of the secondary resale - that is baked into the token when it is created.

    It’d be as close to mimicking the rights of owning a DRM-free physical copy that I know of, with the added bonus of cutting creators into the secondary market, which incentivizes them to care about long term support. I like that bit, and it is too rarely mentioned.

    • @[email protected]English
      3•1 year ago

      Why not instead imagine a future without DRM where there’s no artificial scarcity for digital goods?

      • The Snark UrgeEnglish
        2•1 year ago

        If I’m in the mood to fantasize, I can do a little better than that.