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Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless. (markets.businessinsider.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

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Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.::NFTs had a huge bull run two years ago, with billions of dollars per month in trading volume, but now most have crashed to zero, a study found.

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[–] Quickswitch79@lemmy.world 2 points 1 year ago (1 children)

Why did you even buy them though? Surely you could have just downloaded them for free?

[–] Corkyskog@sh.itjust.works 0 points 1 year ago* (last edited 1 year ago)

Because they are tied into the game. The NFTs contain information about the game asset. And a lot of the NFTs weren't bought, they were generated from aspects of the game. I don't know how else to explain it, without detailing the entire game or subset of games this falls into.

I will say, that I am lucky, picked a good project and didn't spend too much.