95% of NFTs have a market cap of zero - page 6.

dansus021

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The first time I saw NFT was craziness because there were people willing to buy the first tweet or randomly generated images for thousands of dollars Cry

. The hype of NFT became even crazier when national TV discussed about a young man selling his NFT for a billion Rupiah in my country to sell his everyday selfies.

There is real art and in my deep heart I want to buy it as a collection but the price is beyond my reach so I never buy NFT unless from airdrop and bounty.

But when the metaverse project was coming out there were a ton of metaverse projects and play to earn the hype even hotter than ever some rappers and US artists bought land and I also bought a couple of land and invested in some projects that turned out to be scams.

Becoming early is great but after that only dust is left *Memecoin Shitcoin etc.

ahyadinnn

hero member

Activity: 1554

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nft that has no function is completely worthless, fortunately I don't follow buying when it's crowded in my country, and I prefer nft that has a function like the nft game that is crowded now, it's quite profitable than just buying pictures.

JeffBrad12

hero member

Activity: 2772

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Leading Crypto Sports Betting & Casino Platform

NFT having overly inflated value from the very beginning, you just don't expect such thing to have real value at all, once the trend subsides, surely the value too plummeted.
that is the thing with these NFT.
heck, even those NFT bought by celebrities are also hardly can be liquidated, so you know how bad it gets with NFT.
now NFT is just remnant of the past with 95% of it has zero market cap as you stated. I don't think they will ever have any meaningful value again in the future and i'm pretty sure its the end of NFT arts prominently that are valued high before. doesn't mean the technology itself has zero use.

Kelvinid

sr. member

Activity: 2800

Merit: 344

when lambo...

NFT's hype is over and they are generally over as well. We can no longer expect them to grow but instead of seeing them dying because they are at our disposal, investors never see them as valuable anymore.

Just like ICO and IEO, after having their great moments, they started to decline and heard nothing. As we saw in NFT's situation, it is just the same trend and we know that is hard to expect projects that have no use case to sustain and stay long in the crypto space but rather see them gone.

wheelz1200

legendary

Activity: 3612

Merit: 1406

Quote from: uneng on October 02, 2023, 12:31:03 PM

Quote

One of the latest studies conducted regarding the NFT market found that 95% of NFT collections have a market capitalization of 0.

The unveiled reality of the NFT market: 95% of NFTs have a market cap of zero

The bearish market has been affecting the whole crypto industry downside, but regards NFT niche, it has been worst. Almost all NFTs have a market cap of zero, meaning investors and adopters have completely lost interest for them after so much hype and excitment we saw during the year of 2021.

Does it mean NFT is a scam sector of crypto market, or is their concept good, but the execution of the projects are wrecking everything? Is it still possible for NFTs to recover their credibility?

They are pretty much all cash grabs, let them all sink and reset the market. There was so much stupid money pouring in, it attracted a bunch of scammers. People got greedy and the bottom fell out. Just like with altcoins that get dropped in a bear market these "projects" will likely never come back.

milewilda

legendary

Activity: 3094

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Quote from: uneng on October 02, 2023, 12:31:03 PM

Quote

One of the latest studies conducted regarding the NFT market found that 95% of NFT collections have a market capitalization of 0.

The unveiled reality of the NFT market: 95% of NFTs have a market cap of zero

The bearish market has been affecting the whole crypto industry downside, but regards NFT niche, it has been worst. Almost all NFTs have a market cap of zero, meaning investors and adopters have completely lost interest for them after so much hype and excitment we saw during the year of 2021.

Does it mean NFT is a scam sector of crypto market, or is their concept good, but the execution of the projects are wrecking everything? Is it still possible for NFTs to recover their credibility?

No one knows on how it would really be ending up on which its neither that it would really be having a recovery after this bear market or would really be totally goes down to the floor or bites the dust.
We know on how this market works on which if a certain trend dies out because of lack of interest and demand then it would really be that too obvious and its cap would definitely be depleting until it dies out
or there's something new that we are seeing in the market. NFT hype had already touch up the floor + having this bear market then its not really that a shocking condition.

It is really just that sad into those investors who had invested out with those pixelated images or buying out some NFT's in multi million dollars and ending up on getting a few bucks.
Some biggest losses?

Logan Paul’s NFT suffered the world’s largest devaluation, with a loss of 99.9995% of its original value.
https://en.cryptonomist.ch/2023/07/22/biggest-nft-losses-web3-industry/

For sure the list is really that really long and doesnt really stop on that.

SUPERSAIAN

legendary

Activity: 2198

Merit: 1232

NFTs, a system that has really good things in terms of technology, can be invested in by GameFi, but there are not many GameFi projects that will invest in that way at the moment. As for visual NFTs, the only empty monkey and elephant collections were those who spent thousands of dollars on these digital collections and bought and sold them.

The last ones they had left suffered a terrible loss and the possibility of them rising again is extremely uncertain. Altcoins seem less risky to me, but NFTs will be reborn again.

livingfree

hero member

Activity: 2786

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Quote from: uneng on October 02, 2023, 12:31:03 PM

Does it mean NFT is a scam sector of crypto market, or is their concept good, but the execution of the projects are wrecking everything?

Critics will say that it's an entire scam because of how overpriced those NFT arts and stuff. It's not a scam entirely but it's also used by other scam projects.

The concept was good but it's not really sustainable and the market from it doesn't stand a chance if it's just all about the niche and purpose that it has got.

Quote from: uneng on October 02, 2023, 12:31:03 PM

Is it still possible for NFTs to recover their credibility?

Let say that they're like the same as the ICO, been on hyped but never got up and recovered.

Xal0lex

staff

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Quote from: uneng on October 02, 2023, 12:31:03 PM

Does it mean NFT is a scam sector of crypto market, or is their concept good, but the execution of the projects are wrecking everything? Is it still possible for NFTs to recover their credibility?

Absolutely predictable result for tokens, which were invented only for speculation and all their value was due to increased hype. Most of the pictures are not worth the money that was asked for them. People were stupefied by the trend and thought that these NFTs would go up in value all the time. History is cyclical. In 2017 they sold all sorts of ICOs under the guise of garbage, and in 2021 they sold all sorts of NFTs. All these projects were dead from the beginning, but the hype gave them insane value. Now the market is being cleared of all this garbage that was generated a few years ago.

Renampun

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Quote from: uneng on October 02, 2023, 12:31:03 PM

Quote

One of the latest studies conducted regarding the NFT market found that 95% of NFT collections have a market capitalization of 0.

The unveiled reality of the NFT market: 95% of NFTs have a market cap of zero

The bearish market has been affecting the whole crypto industry downside, but regards NFT niche, it has been worst. Almost all NFTs have a market cap of zero, meaning investors and adopters have completely lost interest for them after so much hype and excitment we saw during the year of 2021.

Does it mean NFT is a scam sector of crypto market, or is their concept good, but the execution of the projects are wrecking everything? Is it still possible for NFTs to recover their credibility?

according to predictions that there will be many NFT assets that will have almost zero value, since the emergence of the NFT phenomenon, it is clear that the value created from a piece of NFT is only based on hype, there is no clear use case, everything is created purely by hype. When the majority of NFT assets are at the peak of their hype, we often see unreasonable prices, it's really a pity for those who buy expensively but now suffer big losses because what they hoped for didn't work out well.
I predict, it will be difficult for some NFT assets to have great value again, people have already left it.

dimonstration

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Dimon6969

Quote from: uneng on October 02, 2023, 12:31:03 PM

Does it mean NFT is a scam sector of crypto market, or is their concept good, but the execution of the projects are wrecking everything? Is it still possible for NFTs to recover their credibility?

Yep. Even popular brand is scam since NFT is just a digital image that makes fancy using the blockchain technology. It’s better to purchase real paintings and other collectibles physical instead of purchasing random NFT which the image can be copy and produce by other people with different NFT brand.

NFT is a scam market because its easy to manipulate and most of the scammers is using this sector to scam. You can add meme coin sector on this.

abel1337

legendary

Activity: 2464

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FOCUS

I lowkey expected this even when we are still on the hype of NFT. Only believers or those who find the real value want to keep those NFT's but the majority of the market are not believers. Most of the people who are on the NFT trend are just there for the possible profit they can get out of the trend and now that the trend is gone, this is what the NFT craze ended. There are literally very small amount of people who are really willing to spend the amount they had just paid for the NFT they had bought during the bull market. If people somehow find NFT projects still profitable, there's a chance that we can have a recovery on NFTs.

Beerwizzard

full member

Activity: 924

Merit: 148

The only question I've got is what did you expect?
It was absolutely pointless to think that NFT picture of a monkey is going to be more valuable in some time. Investing into altcoins is much more reasonable.

NFT worth something only if it grants access to anything. Just like it works in GameFi.

uneng

hero member

Activity: 2030

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Leading Crypto Sports Betting & Casino Platform

Quote

One of the latest studies conducted regarding the NFT market found that 95% of NFT collections have a market capitalization of 0.

The unveiled reality of the NFT market: 95% of NFTs have a market cap of zero

The bearish market has been affecting the whole crypto industry downside, but regards NFT niche, it has been worst. Almost all NFTs have a market cap of zero, meaning investors and adopters have completely lost interest for them after so much hype and excitment we saw during the year of 2021.

Does it mean NFT is a scam sector of crypto market, or is their concept good, but the execution of the projects are wrecking everything? Is it still possible for NFTs to recover their credibility?

Topic: 95% of NFTs have a market cap of zero - page 6. (Read 823 times)