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95% of NFTs are Worthless: Report (petapixel.com)

submitted 9 months ago by alyaza@beehaw.org to c/technology@beehaw.org

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[-] chicken@lemmy.dbzer0.com 20 points 9 months ago

This means that 79% of all NFT collections – otherwise known as almost 4 out of every 5 – have remained unsold

Anyone taking bets on how much of the remaining 21% were "sold" on paper only ie. wash traded? None of these statistics were ever reliable. Hundreds of thousands of NFT collections minted, almost all of them fishing for a single sucker to bite and make it worth the gas costs. It would probably be more useful to look only at collections officially associated with some already well-known brand/artist/celebrity.

[-] jarfil@beehaw.org 9 points 9 months ago

It would probably be more useful to look only at collections officially associated with some already well-known brand/artist/celebrity.

The Trump NFTs sold 100%... not sure how useful is that.

[-] Okkai@lemm.ee 18 points 9 months ago

I honestly love that statistic. It's like a venn diagram of Trump screwing people over, people dumb enough to buy NFTs, and Trump supporters. It looks like this 🔴