this post was submitted on 21 Sep 2023
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Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless. (markets.businessinsider.com)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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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.

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[โ€“] merc@sh.itjust.works 4 points 1 year ago (1 children)

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.

[โ€“] pomodoro_longbreak@sh.itjust.works 2 points 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