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"The Wall Street Journal reported that 'the NFT market is collapsing', citing data from NonFungible that showed daily average sales of NFTs had dropped 92% from their September peak. They also reported that active wallets had dropped 88% from their November peak, suggesting fewer people were regularly trading NFTs.
"As with all such articles, it must be taken with a grain of salt—it's very difficult to determine in the moment what's simply a temporary lull rather than a death spiral. Still, it may show growing disillusionment with a sector that's increasingly earned its reputation as full of scams and opportunities to lose money."
Well, we can only hope it's the "death spiral" and not merely a "temporary lull." NFTs need to die, and the sooner the better.
"As with all such articles, it must be taken with a grain of salt—it's very difficult to determine in the moment what's simply a temporary lull rather than a death spiral. Still, it may show growing disillusionment with a sector that's increasingly earned its reputation as full of scams and opportunities to lose money."
Well, we can only hope it's the "death spiral" and not merely a "temporary lull." NFTs need to die, and the sooner the better.
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Date: 2022-05-05 07:02 pm (UTC)From:I suspect it's mostly dead but you're going to keep seeing scam attempts to make money with this shit for years.