Comment on Hackers steal NFTs worth millions. In other news, NFTs worth millions.

• AA5B@lemmy.world ⁨1⁩ ⁨year⁩ ago

  I think of it like timeshare values. They’re really high …. Until you try to find someone who will actually buy it

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  • mhague@lemmy.world ⁨1⁩ ⁨year⁩ ago

    The person talking out of their ass is voted up.

    The person bringing up facts is voted down.

    The person posting dismissive nonsense is voted up.

    Gross.

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    • AbidanYre@lemmy.world ⁨1⁩ ⁨year⁩ ago

      The only person providing any sources here would put that $5.5b market cap (if it’s accurate) at 1/4 of what it was two years ago.

      That’s one hell of a crash and burn.

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    • Honytawk@lemmy.zip ⁨1⁩ ⁨year⁩ ago

      What is a supposed fact without a source?

      I too can make up facts like that.

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• Womble@lemmy.world ⁨1⁩ ⁨year⁩ ago

  The vast majority of NFTs are worthless now

  “MacContract on Ethereum has a floor price of $13,234,204.2, but its all-time sales is only $18,” the report said, adding: “This stark discrepancy between listed floor prices and actual sales data exposes a significant issue in the NFT market – inflated valuations that don’t reflect genuine buyer interest or real-world transactions.

  “It becomes clear that a significant portion of the NFT market is characterized by speculative and hopeful pricing strategies that are far removed from the actual trading history of these assets,” it said.

  And this is a report from a crypto website with a vested interest in pretending crypto has uses.

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  • ImFresh3x@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

    It’s like people who think their Beanie babies are still priceless.

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  • merc@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

    Those are the transactions that are actually happening.

    I’m sure there are lots of transactions that aren’t happening because people have given up, and decided that a 99.9% loss in value is basically a 100% loss in value, so they’ve just walked away.

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  • CaptainSpaceman@lemmy.world ⁨1⁩ ⁨year⁩ ago

    Its hard to be definitive, especially from one data point, but theres no doubt that lots of NFTs are just copycats trying to ride the coattails of other succesful projects, and end up flooding the market with garbage.

    But that doesnt mean all projects are garbage, nor that the tech is bad or unutilized.

    I had a feeling id get flamed by even mentioning NFTs, so im not surprised a the downvotes or derision. Anyways, have a good one 😃

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• Honytawk@lemmy.zip ⁨1⁩ ⁨year⁩ ago

  Nah, that is what the NFT owners want the greater fools to believe it is worth.

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