Among NFTs distributed on the market, 95% are worthless tokens.
Haebom
DappGambl is a platform that provides comprehensive information on gambling, NFTs, DAOs, etc. using cryptocurrencies and web3. This website is a service that provides reliable reviews and guides on cryptocurrency gambling sites, games, and various cryptocurrency projects.
Recently, dappGambl analyzed 73,257 NFT collections and found that 69,795 of them have a market cap of 0 Ether. This means that 95% of people who own NFT collections are making worthless investments . Furthermore, the analysis found that only 21% of NFT collections have been completely sold, while the remaining 79% are still unsold.
Personally, I think this news suggests two things. Just as there were many meaningless or scam projects when the cryptocurrency market was overheated in the past, there were too many such projects in NFTs. Also, I think that NFTs have become somewhat of a straitjacket. I think that only NFT projects that are linked to the real economy or projects that have technical value remain. Of course, I haven't traded NFTs in over a year. In fact, I sold all of them except for a few commemorative ones, so I don't have any anymore... These signals and facts are creating synergy, and the market image is getting worse.
Things to think about
The Decline in Value of NFTs: Why have NFTs fallen so much in value compared to their initial popularity?
Investment Risk: How should the risk of investing in NFTs be assessed?
Sustainability: Can the NFT market overcome its current decline and grow again?
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