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.

  • Eric McCormick@beehaw.org
    link
    fedilink
    arrow-up
    1
    ·
    1 year ago

    No kidding. Hey I’ve got a great idea for a new marketplace, BeaNFT. You can waste your money but get an upcycled Beanie Baby in the process.