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.

  • @dx1English
    1•1 year ago

    The use case for NFTs is to provide a bulletproof cryptographically secured registry for arbitrary content. Such as deeds or titles. Legally recognized, that would represent a marked improvement on the current system. You can have it represent digital goods also, that’s just more of a toy than a useful tool.

      • @dx1English
        0•1 year ago

        If you write smart contracts with vulnerabilities, they’ll be hacked, that is not the same thing as a blockchain being hacked though. Also, smart contracts can be fully audited and provably correct, a lot of companies just half ass it. ERC721 spec (NFT) has drop-in contract code which no doubt has been audited and not hacked on its own.