Coin

<ul class="news-points"> 
 <li><strong>John Reed Stark, former SEC official, said the NFT and crypto ecosystems are bound to fail.</strong></li> 
 <li><strong>He noted that 95% of NFT collections have zero market capitalization, and prices average $5 – $10.</strong></li> 
 <li><strong>Stark said crypto will fail because of a lack of regulatory oversight and consumer protection, among other issues.</strong></li> 
</ul> 
<p>Amidst sour market performances, former U.S. Securities and Exchange Commission (SEC) executive John Reed Stark said in a post on X (formerly Twitter) that NFTs will go down in history. He added that crypto is bound to face the same fate.</p> 
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   <p lang="en" dir="ltr">It's Official: NFTs Will Go Down in History As Pet Rocks On Steroids (And Crypto Is On The Fast Track To Do The Same)<br><br>Stick a fork in the NFT marketplace, it’s dead. Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless, less…</p>— John Reed Stark (@JohnReedStark) <a href="https://twitter.com/JohnReedStark/status/1704857951993794830?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 21, 2023</a> 
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<p>Stark said that 95% of digital collectibles are now worthless, less than two years after the market recorded a bull run. He continued that <a href="https://coinedition.com/what-are-non-fungible-tokens-nfts/" rel="noopener noreferrer nofollow">NFT </a>prices, which once averaged thousands of dollars, now go for $5 – $10.</p> 
<p>Furthermore, Stark said the majority of NFT collections have a market cap…</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/the-end-of-nfts-and-crypto-is-coming-former-sec-official-predicts/">The End of NFTs and Crypto is Coming, Former SEC Official Predicts</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

The End of NFTs and Crypto is Coming, Former SEC Official Predicts

Coin Edition

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