The sale of nonfungible tokens, or NFTs, fell to a daily average of about 19,000 this week, a 92% decline from a peak of about 225,000 in September, according to the data website NonFungible.
The number of active wallets in the NFT market fell 88% to about 14,000 last week from a high of 119,000 in November. NFTs are bitcoin-like digital tokens that act like a certificate of ownership that live on a blockchain.
Subscribe to see more stories about technology on your homepage
Can’t read the article, it requires subscribing.
As of NFT’s in general, there is barely a difference between them and collectible unique sneakers drops or another overpriced consumer junk in terms of hype and utility. If you cannot accept NFT’s boom, probably capitalism is not for you ^_-
Well, this is also good and on the same topic, quoting the WSJ a lot: https://kotaku.com/nft-market-collapse-square-enix-ubisoft-sega-konami-sca-1848878945
Im going to be honest here, I’m surprised it didn’t collapse by the end of last year.
NFTs are a cool technology, but make no sense commercially. I’m suprised the hype took this long.
next hype cycle: “web3”. it’s already starting.
Also, can’t wait for the galaxy-brain comments from crypto aficionados explaining how the banking sector is a scam, as if that was relevant here.
For the last time since you’re so thick headed I do not care whether or not someone of their own free will chooses to buy/not buy something but I am opposed to the labelling of any item as a scam/predatory that a person buys voluntarily it is not my/anyone’s duty to label the purchase of something that we don’t like as a scam and I was simply using banks as an example to point out the absurdity of this idea that something should be labelled a scam simply due to my personal dislike of such a thing