Are NFTs Dead? - Trends, Predictions & Statistics 2023
dappgambl.com
Are NFTs (Non Fungible Tokens) dead? Maybe so. We analysed over 60.000 NFTs to find out which ones are still valuable.

TL;DR: The NFT market has drastically declined since its peak in 2021, with most NFT collections having no value. There’s an oversupply of NFTs, leading to a buyer’s market, and environmental concerns due to energy consumption. Top NFTs also struggle to maintain value, and the future of NFTs depends on utility and genuine value rather than speculation.

    • fer0n@lemm.eeOP
      11·
      1 year ago

      Haha one would hope so. I’m not buying any of their “this is the future of NFTs” aspects either. I feel like the only thing that could work are things like in game cosmetics, but that’s controlled by one company and in an controlled environment so why would you need to have an NFT for that.

      • GunnarRunnar@beehaw.org
        6·
        1 year ago

        Tying NFT token to a physical object like a painting and keeping a database of who owns what seems potentially interesting. But why would you need it to be NFT based either, I don’t know.

        • magic_lobster_party@kbin.social
          8·
          1 year ago

          Tying NFTs to a physical object is quite pointless. It can make no guarantees that it’s the only NFT for that physical object, or if the physical object even exists.

          • GunnarRunnar@beehaw.org
            3·
            1 year ago

            Well it’s the same as with any document, digital or physical, that shows ownership. Obviously it being NFT wouldn’t make it magically legit, same as with anything else.

            But like I said I don’t really see a point of that kind database being blockchain/NFT based anyway.