Equity

Eden

<div class="cryptonews"> 
 <p class="is-style-lead">Almost 70,000 collections of NFTs now have no market value, dappGambl estimated in a recent <a rel="noopener noreferrer nofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a>.</p> 
 <p>The non-fungible tokens (NFT) market is going through hard times, as 69,795 out of 73,257 digital collections have a market cap of 0 Ethereum (ETH).</p> 
 <p>According to a <a rel="noopener noreferrer nofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a> by dappGambl, only 20% of the identified collections have full ownership. It means n<a rel="noopener noreferrer nofollow" title="early" href="https://thebittimes.com/tag/early.html">early</a> 80% of all NFT collections “have remained unsold.”</p> 
 <blockquote class="wp-block-quote"> 
  <p>“This situation is telling of a significant imbalance between the creation of new non-fungible tokens (NFTs) and the actual demand for these digital assets in the current market landscape.”</p> <cite>dappGambl</cite> 
 </blockquote> 
 <p>The report doesn’t specify which NFT collections have been overviewed but says NFT Scan provided the data. The firm believes that many NFT collections face difficulties with adoption due to the lack of clear use cases, compelling narratives, or genuine artistic value.</p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> SEC charges ‘Stoner Cats’ NFT creators for selling unregistered securities 
 </div> 
 <p>As per dappGambl’s estimations, around 195,699 NFT collections have no apparent owners, while the energy required to mint these digital tokens is comparable to the carbon footprint of 4061 passengers flying from England to New Zealand.</p> 
 <figure class="wp-block-image size-full"> <picture decoding="async" class="wp-image-14196949"> 
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/09/21/e2a21fcff52245ad9225f090ca350f32.webp.webp"> 
   <img decoding="async" width="1201" height="681" src="https://cdn.thebittimes.com/images/2023/09/21/e2a21fcff52245ad9225f090ca350f32.webp" alt="Nearly 95% of NFTs are now worthless, report says - 1"> 
  </picture> 
  <figcaption class="wp-element-caption">
    The chart of NFT collections grouped by their floor price | Source: dappGambl 
  </figcaption> 
 </figure> 
 <p>DappGambl also found that slightly more than 40% of the top NFTs have a floor price between $5 and $100, while 18% of digital collectibles have no price. Only less than 1% of NFTs have a price tag of over $6,000, the <a rel="noopener noreferrer nofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a> pointed out.</p> 
 <p>Analysts at dappGambl say the data show that the NFT market is now mainly controlled by “speculative and hopeful pricing strategies that are far removed from the actual trading history of these assets.”</p> 
 <h2 class="wp-block-heading" id="current-state-of-nft-market">Current state of NFT market</h2> 
 <p>The market has seen better days as many NFT-related startups have faced difficulties recently.</p> 
 <p>For example, Glass Protocol, a video platform startup, has recently suspended its development, citing a lack of “sustainable demand for video NFTs.” Another NFT startup Voice, initially planned as a decentralized social media network, also stopped offering its services amid regulatory roadblocks.</p> 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
  <div class="wp-block-embed__wrapper"> 
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
    <p lang="en" dir="ltr">Was offered a secondary of one big crypto unicorn a year ago at 12B val and now was offered again at sub 1.2B, and the co is blocking that sales so on paper it won't be valued at 90% discount <br><br>Equity is really worse than nft … permissioned liquidity is the worst</p>— Dovey "Rug the fiat" Wan (@DoveyWan) September 19, 2023 
   </blockquote> 
  </div> 
 </figure> 
 <p>Dovey Wan, the founder of Primitive Ventures, said in a recent X post that the market crisis has also hit crypto unicorns. He hinted that OpenSea is now seeking fresh capital at a $1.2 billion valuation marketplace, down 90% from the $13 billion it had in <a rel="noopener noreferrer nofollow" title="early" href="https://thebittimes.com/tag/early.html">early</a> 2022. </p> 
 <div class="cn-block-related-link"> 
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"> <use xlink:href="#"></use> 
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Magic Eden adds support for Solana-powered compressed NFTs 
 </div> <span class="google-news-banner__label">Follow Us on Google News</span> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/nearly-95-of-nfts-are-now-worthless-report-says-tbt63526.html">https://thebittimes.com/nearly-95-of-nfts-are-now-worthless-report-says-tbt63526.html</a></p>

Nearly 95% of NFTs are now worthless, report says

목차

TheBitTimes

2023년 9월 21일에 게재된 다른 기사

NiceHash Unveils Game-Changing Features: Profit Splitting and Auto Withdrawals to Transform Your ...

X CEO confirms forthcoming in-app payment features

Concerns Rise as Huobi Global’s stUSDT Investments Reach $1.8 Billion

The AI Inventor Dilemma of Patent Law and the Call for Legal Adaptation

Introducing MarketPlace: Your Gateway to the Web3

Trader Issues Warning on Ethereum-Based Altcoin That’s Soared Over 300% in a Month, Updates Outlo...

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!