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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 11 months 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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[–] yata@sh.itjust.works 37 points 11 months ago* (last edited 11 months ago) (1 children)

With NFTs there aren't even any art. The NFT is a receipt for the art, not the art itself. You didn't buy the copyright for the actual art with an NFT, you bought a link to a specific copy of the art.

[–] MotoAsh@lemmy.world 0 points 11 months ago

I mean, there are ways to tie them together, though the point still stands that NFTs add nothing to art. Copyright works fine without an overly complicated digital receipt.