95% of all NFTs are worth nothing now

Jupiter Rowland

jupiter_rowland@hub.netzgemeinde.eu

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95% of all NFTs are worth nothing now

Mon, 16 Oct 2023 10:23:29 +0200 zuletzt bearbeitet: Mon, 16 Oct 2023 10:24:36 +0200

Jupiter Rowland

jupiter_rowland@hub.netzgemeinde.eu

If you still think that trading all kinds of stuff as NFTs in #TheMetaverse is a good idea, read this and think twice.

tl;dr: 95% of all NFTs are literally worthless now. So it's safe to assume that the freshly minted NFTs that you buy with your crypto money now will soon be worthless, too. Even if they've got something to do with "the Metaverse".

Metaverse schrieb den folgenden Beitrag Sun, 24 Sep 2023 11:27:31 +0200

»#NFTcrash wipes out nearly all collections, and #themetaverse won’t save them.« https://www.hypergridbusiness.com/2023/09/nft-crash-wipes-out-nearly-all-collections-and-the-metaverse-wont-save-them/?Metaver.se #Metaverse #VirtualWorlds #VR #AR #MR

#Metaverse #NFTs #Cryptocurrency #Cryptocurrencies #NFTCrash #Crypto #VirtualWorlds

Metaverse in general

Tue, 17 Oct 2023 14:34:22 +0200

Scott M. Stolz

scott@biztechtonics.net

If you want to support the original artist and purchase the NFT directly from them, that is one thing, but the whole speculation and reselling aspect is very subjective and potentially volatile.

In many ways, it is like the physical art world. You can view a Monet online for free, but if you want the original painting, you have to pay extra for that since there is only one. But not all paintings are valued the same, just like all NFTs won't be valued the same. But at least with a physical painting, you have something tangible in your hands. With an NFT, there are free digital copies and there is the original digital NFT... and they pretty much look the same... so why would you pay for the NFT?

If you want to support the original artist by purchasing it directly from them, great. But as an investment, I think the crash shows us all we need to know.

Tue, 17 Oct 2023 16:10:32 +0200

Jupiter Rowland

jupiter_rowland@hub.netzgemeinde.eu

@Scott M. Stolz Actual art is one thing.

Firing up a script that procedurally generates hundreds or thousands of pictures and automatically mints them as NFTs and then offering them for crypto money is not art. It's greed.

Walking around your own virtual world, including places that you haven't even built yourself, taking random pictures and minting and trying to sell these as NFTs isn't art either. It's either desperation or greed again.