Friday, September 22, 2023

"95% of NFTs are Worthless: Report"

[insert snarkiest snark snark here]

From PetaPixel, September 20:

A new report shows that the non-fungible token (NFT) market has essentially collapsed, and nearly all NFTs are practically worthless

As seen on Insider, dappGambl’s study investigated 73,257 NFT collections, 69,795 of which have a market value of zero ETH.

“The hype around NFTs peaked in the 2021/22 bull run that saw nearly $2.8 billion in monthly trading volume recorded in August 2021. From this, NFTs captured the collective imagination worldwide with multiple news reports of million-dollar deals for sales of certain NFT assets,” writes dappGambl

NFTs were all the rage for a spell, and photographers were caught up in the whirlwind. When a single JPEG file created by the artist Beeple sold for nearly $70 million, photographers wondered how they might get a slice of the pie.

“Bryan Minear, a landscape photographer based in Michigan, has always kept a close eye on the crypto space. On Tuesday, he did an NFT drop with Bitski featuring five photographs ranging from $200 to $2,500. Within 10 minutes, he sold out of nearly everything,” PetaPixel wrote in 2021.

Minear said he embraced NFTs when he realized crypto was “here to stay.”....

....MUCH MORE

And in the same vein, from AFNS:

Evolution Going Great, Reports Trilobite 
http://www.fossilmall.com/Pangaea/patrilos/tr22/pft757b.JPG
Slowly inching his segmented exoskeleton across the sea floor, a local marine arthropod, class Trilobita, reported that Earth's natural evolution was "progressing quite nicely."

"Things are looking mighty fine," announced the prehistoric invertebrate, taking measure of his surroundings through a series of small, hexagonal eyelets located at the tip of his thorax. "Sulfurous gas seems to be bubbling up to the surface pretty good, and several single-cell organisms appear to be mutating at a rather steady pace. Also, just today, I developed the ability to roll into a small protective shell in order to avoid predators."

Added the trilobite, "Yup, this evolution thing is going great."...
Little did the Trilobite know...