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95 percent of NFTs are worthless now, study finds
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thefader.com95 percent of non-fungible tokens (NFTs) are all but worthless now, according to a new study by crypto research group dappGambl.
It’s no secret that the once-hyped crypto assets — pitched as viable revenue streams for artists and ways for fans to invest in the creators they loved — have lost ground after reaching a peak trading value of $17 billion in 2021.
But, according to “Dead NFTs: The Evolving Landscape of the NFT Market,” the picture is grimmer than anyone imagined: 69,795 of the 73,257 collections they analyzed had a market cap of zero Ether (ETH), the cryptocurrency used to trade virtually all NFTs.
Extrapolating from these numbers, dappGambl estimates that 23 million investors own tokens that have no monetary value whatsoever.
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