It seems the death of NFTs has been prophesied many times. Since the wild ride throughout 2021, the market has repeatedly fallen to terrible levels without ever disappearing from circulation. But never getting back on track. Hundreds of collections once worth millions are now mere shadows of their former selves.
The only thing missing was a large-scale study to confirm this. Site dappGamble stuck to it, eventually reviewing at least 73,257 collections. The result is clear: “95% of people with NFT collections currently have worthless investments.” predicts the site. According to the latter, this figure represents 23 million people.
Surprise, NFTs aren’t worth a dime anymore
Moreover, the report’s initial conclusion may seem surprising given the excitement NFTs generated at the peak of their popularity. Actually just 21% of NFTs in circulation have been sold. The remaining ones have never been subject to any speculation because they have never found a buyer, and this, of course, does not help increase their value.
But even for those left behind, the situation is disastrous. 18% of collections have a starting price of zero, “It shows that the majority of collections, even the largest ones, are struggling to keep up with demand.” The majority of NFTs that still have value are 5 and 100 dollars Only. 1% of NFTs are now worth over $6,000.
So interest in NFTs among investors has never been lower. In particular, it is stated in the study that there is a collection estimated at 13 million dollars. sold for only $18. “This is a stark reminder that although NFTs offer a revolutionary new model for ownership and redemption of digital assets, they remain a highly speculative and volatile market.”concludes the report.
Source : dappGamble
