853
Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless. (markets.businessinsider.com)
submitted 3 years ago by [M, B] to c/technology@lemmy.world
288 comments fedilink hide all child comments
 

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.

you are viewing a single comment's thread
view the rest of the comments
[–] 25 points 3 years ago (5 children)

Oh man. I remember getting downvoted to hell for stating that they were a scam and provided no actual value or true, to technical "non-fungibility".

  • permalink
  • fedilink
  • source
  • hideshow 5 child comments
    •
  • [–] 9 points 3 years ago (1 child)

    Well, NTF is based upon the Greater Fool Theory.

    So if those with invested interests are unable to find a bigger fool to sell them to, those NFT become worthless.

    You got downvoted because you were interfering with money from the NFT investors.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 1 child comment
    •
  • [–] 4 points 3 years ago (1 child)

    I feel like a lot of people probably knew that to some degree, but didn't want to believe it to be true. Supposed to leave your emotions at the door when trading stocks or crypto, but a lot of people don't seem to do that.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 1 child comment
    •
  • [–] 3 points 3 years ago

    Yup. Does feel good to be vindicated for being willing to honestly express reality, in spite of willful delusion and ingnorance. Not that I am happy for those that suffered immense losses but, they can't say that they weren't warned.

  • permalink
  • fedilink
  • source
  • parent