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95% of NFTs are Worthless: Report
(petapixel.com)
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this post was submitted on 21 Sep 2023
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Technology
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This isn’t always true. People collect stamps with postmarks on them as well, that can’t be reused. Stamps without postmarks are generally worth more. But if a rare stamp only has examples with marks, it will still be worth a lot, but useless to post a letter with.
Still there is scarcity because these are physical objects, most of which are out of production. With NFTs you don't buy a thing, you buy a link to a digital representation of... something. If the creator of the NFT decides to stop hosting that link your NFT is not only worthless it is also gone.