95% of them are no longer worth anything

A new study reveals that the value of NFTs has declined and most of them are worth zero today.

It’s been about two years since we had to learn the meaning of A A new concept called NFT. These non-fungible tokens have been around for over a decade, but they were created specifically Popular around 2021-2022, after the epidemic. The golden age of NFTs did not last long, as a new study reveals 95% of them are no longer worth anything.

When we say nothing means absolutely nothing, 95% of NFTs have zero value today. This is what dappGambl discoveredwhich specializes in cryptocurrencies, in an investigation that also allows us to find out 23 million people Who bought these NFTs They lost all the money invested. Many have suggested that these NFTs will be “the future,” but the truth is that their value has plummeted and it will be so It is very difficult for them to get it back soon.

95% of NFTs are no longer valuable

In the golden age of their success, between 2021 and 2022, NFTs were able to move billions of dollars around the world. To give you an idea, The most expensive NFT in history He is The first 5000 dayspicture college Made up of 5,000 digital images created by artist Mike Winkleman. This artwork was auctioned in April 2021 for a final price of $69.3 million (57 million euros at the exchange rate).

This is just one example of the very high price these non-fungible tokens have reached. They were very popular too Monkeys Bored Ape Yacht Club, with 10,000 exclusive designs that have aroused special interest among celebrities. This uniqueness, and the truth of it There is no NFT like the one a user purchaseswas an important part of their success.

This is the most expensive NFT in history, the “first 5,000 days.”

The popularity of these symbols made them Even Facebook was interested in them. In 2021, we learned that Instagram posts can be turned into NFTs to make money from them. The company’s interest was short-livedBecause Meta no longer believes in NFTs and has removed them from Facebook and Instagram.

What goes up comes down, and these NFTs were no less. A study conducted by dappGambl revealed this 95% of NFTs have completely lost their valueThey cost absolutely nothing today. To reach this conclusion, web experts have Analyzed data from 73,257 groups Of NFTs. As indicated in the research itself, the results were “shocking.”

To give you an idea, 69,795 out of 73,257, capital is 0 In the Ethereum market. This means that 95% of NFTs have a value of 0, which is worth absolutely nothing in the current market. According to site data, it also indicates this 23 million buyers lost their money Which they invested initially.

Only 6,618 NFT blocks have full ownership in 2023 // Image: dappGambl.

dappGambl researchers discovered this as well 79% of NFT collections are still not 100% sold.Which reveals a serious imbalance between supply and demand for these digital files. Artists have set out to create millions of NFTsBut the truth is that There were not many users interested In seizing them. For this reason, approximately 80% of collections remain without an owner.

The collapse of these cryptocurrencies is also evident in this data: their market moved by $2.8 billion per month in August 2021 and In July 2023, only $80 million had been transferred. That is, currently its market only 3% than it was two years ago. As you can imagine, the price of the most expensive NFT in history, out of 10,000 different monkeys in the world Bored monkey And from many others it has decreased significantly.

The holders of these cryptocurrencies are looking to the future Waiting for the resurrection Which allows them to recover the money invested. As dappGambl points out, just Those NFTs are historically relevantwhich are works of art or contain something useful, is permissible Maintain its value. The rest, which were created with the sole motive of making money, will continue to receive no interest from buyers.