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Of all the NFTs on the market, 95% are essentially worthless.

Haebom
dappGambl is a platform that offers comprehensive information about gambling, NFTs, DAOs, and more, leveraging cryptocurrency and Web3 technologies. This website provides trusted reviews and guides for crypto gambling sites, games, and a variety of blockchain 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 NFT holders are effectively investing in worthless assets. In addition, their analysis shows that only 21% of NFT collections have sold out completely, while the remaining 79% are still unsold.
Personally, I see two main takeaways from this news. Just like during the crypto boom when there were so many meaningless or scam projects, the NFT space was also flooded with such projects. Now, it feels like we've seen a sorting of the wheat from the chaff with NFTs. Only those tied to the real economy or with genuine technical value seem to have survived. Honestly, I haven't traded NFTs myself in over a year—aside from a handful of commemorative ones, I've sold everything off already... All these signals and facts combined are worsening the public image of the market.

Points to consider

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The drop in NFT value: Compared to the huge hype when NFTs first appeared, why have their values plummeted like this?
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Investment risks: How should we assess the risks of investing in NFTs?
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Sustainability: Can the NFT market bounce back from this decline and see growth again?
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haebom@kakao.com
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