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.

  • @mightyfoolishEnglish
    69•1 year ago

    Small correction: Even though some NFTs sold for millions, the NFTs have always been worthless.

    • @WogiEnglish
      46•1 year ago

      They literally provide no value. I don’t see how people didn’t get that.

      It’s a link, you bought a link. If the power goes out at the server hosting it, you can’t even access it anymore.

      If I told you I had a magic box, and for a million dollars you could look inside whenever you wanted, you’d tell me to go fuck myself. But do it on the Internet and it’s beanie babies all over again. But at least THOSE were tangible.

      • @IIIEnglish
        33•1 year ago

        Never work in tech, friend. It is an endless parade of buzzwords. Idiots will think it is a revolution, people who put even the smallest amount of effort into understanding it will know it isn’t. Sadly, the idiots tend to be the ones making the decisions. So you get to spin your wheels on a fool’s errand until their surprisingly lengthy attention span moves to the next buzzword. As the parade continues you just lose more and more faith in humanity.

        I wish I had an answer for you other than some people are really fucking stupid.

        • @WogiEnglish
          10•1 year ago

          I work in manufacturing, I came from an office setting for a national Internet provider. At first it was refreshing, all of the bullshit was gone, and it was just about getting shit done.

          But then a tech bro got his teeth in to our CEO and the company has gone to shit. They’ve tried desperately to placate people but the attrition here is harder now than it was during COVID, when we literally begged people to go home. People are leaving for lower paying, non union jobs it’s gotten so bad. I think the only reason I’m still here is I know how much worse it could be.

        • @[email protected]English
          8•1 year ago

          Sigh. How eager our boss was to make all our products “AI powered” as soon as he heard about ChatGPT, even though the techies had all tried it and knew it wasn’t appropriate for what we do. We’re still adding “AI power” to things, because he already put it in all the marketing.