95% of NFTs have a market cap of zero

[passwordnow]

therefore I have never invested in NFT, because I am sure that NFT have a very big risk that I could lose my money and I am also sure that the price of NFT will not be able to increase again even if the next bullrun occurs,

Any investment has their own risk and during the bull run, there was less risk on these NFTs. But when we saw that the hype from the meme coins going to NFTs about to end, the risk on them became higher and that's why it's hard to get on them when we saw its value about to drop.

so I have never been interested and suggested to my friends or my family to invest in NFT even though the price of NFT was going down, because it was too risky to invest in NFT.

Honestly, I've been interested in a few of them. Those that have great value but I've never thought that I should be able to purchase them. Because if I did and I'm still holding some of those, I've just done the same mistake that I have committed before when I've sold too early. This is why being on this market, we need to be vigilant and need to be researchful for us to know what's actually happening in the scene. Because if you're  just keeping with the hype and trend, you're about to lose your money if you believe on them that much. That's one lesson that I have learned and you need to take profits whenever you can.

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[asriloni]

therefore I have never invested in NFT, because I am sure that NFT have a very big risk that I could lose my money and I am also sure that the price of NFT will not be able to increase again even if the next bullrun occurs, so I have never been interested and suggested to my friends or my family to invest in NFT even though the price of NFT was going down, because it was too risky to invest in NFT.

Justin bieber has been also scammed by this piece of shit.

Justin Bieber’s Bored Ape NFT was valued at $1.3 million in 2022—now it’s only worth around $60,000

https://www.cnbc.com/2023/07/07/justin-biebers-bored-ape-nft-has-lost-95-percent-of-its-value-since-2022.html

Look at that how shitty NFT is right now. Even justin bieber was loosing millions of money in less than a year. NFT is pure massive scam. People are so dumb in using NFT as their personal investment which was the stupidest thing i have ever seen in my life.
Justin NFT is now only worth 60k USD. Justing is a rich guy abd that amount was nothing. Im guessing that if almost all of APE nft holdes are suffering the same case like what justing did.

This guy spend millions of money for nothing than get a garbage money NFT which will worth nothing in the future. NFT is pure garbage shit. The end of NFT is going even closer since there are many scam NFTs exist in the market.

[Hispo]

therefore I have never invested in NFT, because I am sure that NFT have a very big risk that I could lose my money and I am also sure that the price of NFT will not be able to increase again even if the next bullrun occurs, so I have never been interested and suggested to my friends or my family to invest in NFT even though the price of NFT was going down, because it was too risky to invest in NFT.

Justin bieber has been also scammed by this piece of shit.

Justin Bieber’s Bored Ape NFT was valued at $1.3 million in 2022—now it’s only worth around $60,000

https://www.cnbc.com/2023/07/07/justin-biebers-bored-ape-nft-has-lost-95-percent-of-its-value-since-2022.html

Look at that how shitty NFT is right now. Even justin bieber was loosing millions of money in less than a year. NFT is pure massive scam. People are so dumb in using NFT as their personal investment which was the stupidest thing i have ever seen in my life.
Justin NFT is now only worth 60k USD. Justing is a rich guy abd that amount was nothing. Im guessing that if almost all of APE nft holdes are suffering the same case like what justing did.

This guy spend millions of money for nothing than get a garbage money NFT which will worth nothing in the future. NFT is pure garbage shit. The end of NFT is going even closer since there are many scam NFTs exist in the market.

I had no idea even a music personality like Justin Bieber was involved within the NFT landscape. I thought people like him was the kind of person who would not even care on the trend of NFTs, to be honest.
Though, One is not supposed to feel bad for him, he is an adult who is able to take his own choices and has enough money to spare and burn on NTFs or whatever. On the other hand, one must wonder how other kind of investors are doing, those who went all in in this trend and with money which could not ditch so easily, that is the kind of investor I can feel sorry for.

Hopefully, this will become a cautionary tale and lesson when future trends come, and there won't be so many people willing to get their money in without reading and getting informed first.

[o48o]

I had no idea even a music personality like Justin Bieber was involved within the NFT landscape. I thought people like him was the kind of person who would not even care on the trend of NFTs, to be honest.
Though, One is not supposed to feel bad for him, he is an adult who is able to take his own choices and has enough money to spare and burn on NTFs or whatever. On the other hand, one must wonder how other kind of investors are doing, those who went all in in this trend and with money which could not ditch so easily, that is the kind of investor I can feel sorry for.

Hopefully, this will become a cautionary tale and lesson when future trends come, and there won't be so many people willing to get their money in without reading and getting informed first.

Oh? At some point i finded odd that some famous people didn't ride that cash cow. It was free money for brand nfts. And status bling symbols for some. I didn't see those commercial nfts as brand collectibles. I saw them as annoying advertisements, which they weren't even bothered to put any work into.

Artists and athletes didn't seem to understand basic marketing rules and they were selling them like cds. With the exception that they seemed to hint price growth. That made them instant securities and they got sued. Some went overboard and i am guessing Actress Lana Rhoades gets jail time over her nft sales and rug pull after the dust settles.

[abel1337]

therefore I have never invested in NFT, because I am sure that NFT have a very big risk that I could lose my money and I am also sure that the price of NFT will not be able to increase again even if the next bullrun occurs, so I have never been interested and suggested to my friends or my family to invest in NFT even though the price of NFT was going down, because it was too risky to invest in NFT.

Justin bieber has been also scammed by this piece of shit.

Justin Bieber’s Bored Ape NFT was valued at $1.3 million in 2022—now it’s only worth around $60,000

https://www.cnbc.com/2023/07/07/justin-biebers-bored-ape-nft-has-lost-95-percent-of-its-value-since-2022.html

Look at that how shitty NFT is right now. Even justin bieber was loosing millions of money in less than a year. NFT is pure massive scam. People are so dumb in using NFT as their personal investment which was the stupidest thing i have ever seen in my life.
Justin NFT is now only worth 60k USD. Justing is a rich guy abd that amount was nothing. Im guessing that if almost all of APE nft holdes are suffering the same case like what justing did.

This guy spend millions of money for nothing than get a garbage money NFT which will worth nothing in the future. NFT is pure garbage shit. The end of NFT is going even closer since there are many scam NFTs exist in the market.

There's a lot of celebrities that are affected by the downfall of NFT arts that they had bought. I guess it is the way that the project convince people to buy their NFT because celebrities have it, so this is your chance to have the same ones that the celebrities had. But yeah, it's the downfall and those who bought those NFT's including celebrities are losing money day by day because it is depreciating consistently. The one who really gained from it are the flippers/hypers and the project owners (royalties). It's sad but I think those celebrities will just preserve their NFT and hope someone buy their NFT at the price that they want.

[Xal0lex]

Everyone once had a positive perception of NFT but now it is not possible for NFT to regain its credibility.  When NFTs were on hype I expected good profits, but now NFTs are not as hyped as before.  Now I think NFT-Investment has very high risk. It is true that 90% of NFT are sitting at zero now.  The NFT market will not be able to recover so easily.  Although I was not bullish on NFT from the beginning, and I do not advise anyone to invest in NFTs.  NFT used to be a great technology but now it is being misused, and most of the scammers are getting into NFT.  I have several NFT in my wallet that have been sent by scammers.

There's always a false sense of some value on a hype, that's why people easily invest in all sorts of shitcoins. The problem with NFT isn't that it can't recover that fast, it won't recover ever again. At least in the form it was in 2021. All those projects will never again be worth the money that was asked for them in 2021. Exactly the same story that happened with ICOs in 2018 happened. Those coins never recovered, in their bulk, and died completely.

[TelolettOm]

The unveiled reality of the NFT market: 95% of NFTs have a market cap of zero

The bearish market has been affecting the whole crypto industry downside, but regards NFT niche, it has been worst. Almost all NFTs have a market cap of zero, meaning investors and adopters have completely lost interest for them after so much hype and excitment we saw during the year of 2021.

Unfortunately, this is an inevitable fact. Maybe there are still NFTs that are truly worth it and have enough market cap to fight for, but this is definitely not easy. Like the various altcoins in the crypto world, they are also the same, many of which end up going bankrupt, dying, and also becoming shitcoins. This is not surprising in the crypto world, especially with the various hype things that are happening, such as the NFT hype too, there are definitely times for hype and drops like now. The next question is, can they survive and rise again as significantly as when they first appeared and were hyped? This will be a harder job to do.

Does it mean NFT is a scam sector of crypto market, or is their concept good, but the execution of the projects are wrecking everything? Is it still possible for NFTs to recover their credibility?

Some maybe not, maybe there are a few percent who are really good and will continue to survive in the bullish era. However, we know that like before in crypto projects, they really have a scam agenda, especially with the NFT hype at that time, so that many parties immediately created various NFT products, even NFTs that really surprised us and never imagined them previously.

[poodle63]

The unveiled reality of the NFT market: 95% of NFTs have a market cap of zero

The bearish market has been affecting the whole crypto industry downside, but regards NFT niche, it has been worst. Almost all NFTs have a market cap of zero, meaning investors and adopters have completely lost interest for them after so much hype and excitment we saw during the year of 2021.

Unfortunately, this is an inevitable fact. Maybe there are still NFTs that are truly worth it and have enough market cap to fight for, but this is definitely not easy. Like the various altcoins in the crypto world, they are also the same, many of which end up going bankrupt, dying, and also becoming shitcoins. This is not surprising in the crypto world, especially with the various hype things that are happening, such as the NFT hype too, there are definitely times for hype and drops like now. The next question is, can they survive and rise again as significantly as when they first appeared and were hyped? This will be a harder job to do.

Does it mean NFT is a scam sector of crypto market, or is their concept good, but the execution of the projects are wrecking everything? Is it still possible for NFTs to recover their credibility?

Some maybe not, maybe there are a few percent who are really good and will continue to survive in the bullish era. However, we know that like before in crypto projects, they really have a scam agenda, especially with the NFT hype at that time, so that many parties immediately created various NFT products, even NFTs that really surprised us and never imagined them previously.

the problem with most of NFT that make it 95% which is majority of them couldn't survive the changing of season is because they themselves are NFT, which means they got unique demand for each NFT which significantly reduces the possibility of having market cap and liquidity.
even the most popular NFT out there only very few of them are in demand, the rest of the product even though still falls under the same brand, would get zero demand and that occurs too frequently.
thats the disadvantage with NFT being used for these kind of things, NFT itself is a good technology, if its used correctly it could be making breakthrough like for identifying authenticity of goods and so on.
its not for some random hype based inflation of arts value or some kind otherwise the result will be like nowadays.

[DapanasFruit]

For now, many NFTs are getting the downward trend in terms of value and many of NFT investors in the past years are now realizing that they are sitting on something that are not anymore excited as they used to be. Yes, there is no denying, hype was a big part of NFT soar in the past and in my opinion this is the biggest reason why they are now getting valueless as most NFTs are not representing any use-case at all. What will you do with a picture of a stone? I think a cheap real stone can be better since we can use it to crack the coconut. Right now, am wondering what is the real future of NFT...will it be soaring in 2024 buoyed by BTC bull run or will it slowly die due to lack of interest from the market?

[Abiky]

There's always a false sense of some value on a hype, that's why people easily invest in all sorts of shitcoins. The problem with NFT isn't that it can't recover that fast, it won't recover ever again. At least in the form it was in 2021. All those projects will never again be worth the money that was asked for them in 2021. Exactly the same story that happened with ICOs in 2018 happened. Those coins never recovered, in their bulk, and died completely.

NFTs won't recover again because the vast majority are pure junk. They have no real utility. The fact that most of their content is stored on a centralized server, is a huge turn off for me. Isn't the Blockchain all about "immutability"? I wouldn't want to buy something that could disappear in an instant.

Most people don't care about this, since they only want to make a quick buck. Convenience goes on top of everything else. Hopefully, the industry will mature in the future as developers put their emphasis on quality instead of quantity. No one can predict the future, so lets hope for the best.

[wxa7115]

For now, many NFTs are getting the downward trend in terms of value and many of NFT investors in the past years are now realizing that they are sitting on something that are not anymore excited as they used to be. Yes, there is no denying, hype was a big part of NFT soar in the past and in my opinion this is the biggest reason why they are now getting valueless as most NFTs are not representing any use-case at all. What will you do with a picture of a stone? I think a cheap real stone can be better since we can use it to crack the coconut. Right now, am wondering what is the real future of NFT...will it be soaring in 2024 buoyed by BTC bull run or will it slowly die due to lack of interest from the market?

And yet another issue with NFTs is that since each one is unique it is difficult to measure how much each one is crashing at any given time, with a regular coin you can at least know this information as there is enough trading volume to give you an idea of how much money that coin is losing.

But with NFTs this is not possible, as someone could sell a NFT for 10k and then the one who bought may try to sell it for 20k and no one buys it, but how can you determine its current value if the only way for this to be done is with the price discovery process, and this process can only take place once a transaction happens?

[makishart]

There's always a false sense of some value on a hype, that's why people easily invest in all sorts of shitcoins. The problem with NFT isn't that it can't recover that fast, it won't recover ever again. At least in the form it was in 2021. All those projects will never again be worth the money that was asked for them in 2021. Exactly the same story that happened with ICOs in 2018 happened. Those coins never recovered, in their bulk, and died completely.

NFTs won't recover again because the vast majority are pure junk. They have no real utility. The fact that most of their content is stored on a centralized server, is a huge turn off for me. Isn't the Blockchain all about "immutability"? I wouldn't want to buy something that could disappear in an instant.

Most people don't care about this, since they only want to make a quick buck. Convenience goes on top of everything else. Hopefully, the industry will mature in the future as developers put their emphasis on quality instead of quantity. No one can predict the future, so lets hope for the best.

The users of NFT were just speculators. Even some shitty NFT games are pure garbage games with no innovative gameplay. It's even worst compared with 2019's game. Anything about NFT looked like over rated at this moment.

I think that NFT will not be disappoearing but NFT will be worthless. I dunno why there are people who bought these stupid NFTs even they do know that if the price of NFT is always dumped till it worth nothing.

It's something strange for me to see that like i saw those people are loosing their sense to think correctly with their logic.

[avp2306]

There's always a false sense of some value on a hype, that's why people easily invest in all sorts of shitcoins. The problem with NFT isn't that it can't recover that fast, it won't recover ever again. At least in the form it was in 2021. All those projects will never again be worth the money that was asked for them in 2021. Exactly the same story that happened with ICOs in 2018 happened. Those coins never recovered, in their bulk, and died completely.

NFTs won't recover again because the vast majority are pure junk. They have no real utility. The fact that most of their content is stored on a centralized server, is a huge turn off for me. Isn't the Blockchain all about "immutability"? I wouldn't want to buy something that could disappear in an instant.

Most people don't care about this, since they only want to make a quick buck. Convenience goes on top of everything else. Hopefully, the industry will mature in the future as developers put their emphasis on quality instead of quantity. No one can predict the future, so lets hope for the best.

The users of NFT were just speculators. Even some shitty NFT games are pure garbage games with no innovative gameplay. It's even worst compared with 2019's game. Anything about NFT looked like over rated at this moment.

I think that NFT will not be disappoearing but NFT will be worthless. I dunno why there are people who bought these stupid NFTs even they do know that if the price of NFT is always dumped till it worth nothing.

It's something strange for me to see that like i saw those people are loosing their sense to think correctly with their logic.

Most of it if not trash gameplay a copy from other popular games so we cannot really get some good new game ideas coming from those NTF game creators since they are generics and maybe they don't even think about for new concept since they want to ride as fast as they can on NFT hype floating up in the mind of the people. if investors would really be smart enough to determine which are totally garbage for sure that they will not caught up by those scammers pretend to be a good NFT platform.

And if we look at the past stats made by this industry for a year for sure we can see that most of them are in total bad shape which their old holders still shaking their heads on how they can recover back their money invested on those NFT games and arts.

[tygeade]

There's always a false sense of some value on a hype, that's why people easily invest in all sorts of shitcoins. The problem with NFT isn't that it can't recover that fast, it won't recover ever again. At least in the form it was in 2021. All those projects will never again be worth the money that was asked for them in 2021. Exactly the same story that happened with ICOs in 2018 happened. Those coins never recovered, in their bulk, and died completely.

NFTs won't recover again because the vast majority are pure junk. They have no real utility. The fact that most of their content is stored on a centralized server, is a huge turn off for me. Isn't the Blockchain all about "immutability"? I wouldn't want to buy something that could disappear in an instant.

Most people don't care about this, since they only want to make a quick buck. Convenience goes on top of everything else. Hopefully, the industry will mature in the future as developers put their emphasis on quality instead of quantity. No one can predict the future, so lets hope for the best.

That was the intention and since that is done now, they are moving to whatever the new trend will be. Not like people invested into NFT because they liked the idea, they invested because they knew that if they get whitelisted and buy at the release price, just within the day of release they could double their money or more and that's all they cared about. Then , when this is over they are not even caring about it, don't do it, and whenever some new trend comes out they will be focusing on that as much as they possibly could.

This is a vicious cycle that will continue without a doubt. I realize that it may not be all that easy, but it could get to a point where it will not be all that simple to handle on the long run.

[Hypnosis00]

(....)
Does it mean NFT is a scam sector of crypto market, or is their concept good, but the execution of the projects are wrecking everything? Is it still possible for NFTs to recover their credibility?

I am really hoping that they will recover, but I will be expecting the legit ones only. We all know there are a lot of scams in NFT or in the cryptocurrency market itself.
So for me, the NFT market is one of the best hype during the last bull market and they are also devastated by the bear market. Just like any other cryptocurrency project on every bear market, only the legit remains and will continue.

The question is if we can still see any of these projects to recover because all of them are scams IMO. NFT got its season and shows an impressive market breakout but it only stays short and has been declining after the hype because nobody cares to hold it instead of selling them all. That is why I don't see any reason for us to expect them to rise, they're dying already. I'd just remember those ICO and IEO times when they were very popular in the market but now, they've been ignored because they are not profitable anymore and that can be the same to happen to NFT.

[JeffBrad12]

Most of it if not trash gameplay a copy from other popular games so we cannot really get some good new game ideas coming from those NTF game creators since they are generics and maybe they don't even think about for new concept since they want to ride as fast as they can on NFT hype floating up in the mind of the people. if investors would really be smart enough to determine which are totally garbage for sure that they will not caught up by those scammers pretend to be a good NFT platform.

And if we look at the past stats made by this industry for a year for sure we can see that most of them are in total bad shape which their old holders still shaking their heads on how they can recover back their money invested on those NFT games and arts.

can't agree more with these tatements, their gameplay, pure garbage, usually just reskinned failing games of the past.
I've recently tried many of these games, i was expecting things would change from few years ago when blockchain gaming was popular but nah, its just the same trash game being reskinned and integrated to blockchain just for the sake of hypes and then these games will vanish afterwards, the userbase will be gone even the user themselves know the game is just pain in the ass if not for the rewards they wouldn't waste their life with these games.
honestly, these needs to be resolved, otherwise the field of blockchain gaming will just stuck in this same place like this.

[Abiky]

The users of NFT were just speculators. Even some shitty NFT games are pure garbage games with no innovative gameplay. It's even worst compared with 2019's game. Anything about NFT looked like over rated at this moment.

I think that NFT will not be disappoearing but NFT will be worthless. I dunno why there are people who bought these stupid NFTs even they do know that if the price of NFT is always dumped till it worth nothing.

It's something strange for me to see that like i saw those people are loosing their sense to think correctly with their logic.

The tech will be adopted by mainstream governments as a means to digitize our society. Nearly anything you can imagine will transition from the physical to the digital world (precious metals, real estate, collectibles, etc). It will only happen on private chains controlled by governments and central banks alike. In public chains like Bitcoin and Ethereum, NFTs will remain a speculative trend that will enrich developers/creators themselves. Same can be said about RWAs and stablecoins (which will be eventually replaced by CBDCs).

Only decentralized cryptocurrencies hold promise to become an alternative to Fiat in an ever-increasing "surveillance State". The future is unpredictable, so we can only hope for the best.

[fullhdpixel]

Everyone once had a positive perception of NFT but now it is not possible for NFT to regain its credibility.  When NFTs were on hype I expected good profits, but now NFTs are not as hyped as before.  Now I think NFT-Investment has very high risk. It is true that 90% of NFT are sitting at zero now.  The NFT market will not be able to recover so easily.  Although I was not bullish on NFT from the beginning, and I do not advise anyone to invest in NFTs.  NFT used to be a great technology but now it is being misused, and most of the scammers are getting into NFT.  I have several NFT in my wallet that have been sent by scammers.

There's always a false sense of some value on a hype, that's why people easily invest in all sorts of shitcoins. The problem with NFT isn't that it can't recover that fast, it won't recover ever again. At least in the form it was in 2021. All those projects will never again be worth the money that was asked for them in 2021. Exactly the same story that happened with ICOs in 2018 happened. Those coins never recovered, in their bulk, and died completely.

I cannot help but wonder how much money some people must have lost in all this. Some people were so into the hype, I remember someone buying an NFT for 276 ETH or something and the value of that was above $400k at that time. I'm pretty sure that the same NFT isn't worth a few thousand dollars now since no one would even be ready to buy it for that much since the hype is already over and NFTs that were valued so high are considered overvalued now.

This is the reason why it's always important for people to take calculated risks so that they don't waste a lot of money just because they see a lot of hype in a certain thing, meme coins these days are going through the same phase and a lot of people are investing a lot of money that they will regret later.

[Septex]

Currently the market for NFT is zero. I think NFT will not be very profitable at present. Many people invest in NFTs because they think they will do well but I think it is best not to invest here now. Investing here has become like death by sin in greed. The way NFT has gone down day by day, the chances of profiting here are very low

[devil-soul]

Unfortunately, market variations also influence the value of NFTs, many have no market, others have no exchange volume, but the really important ones such as curious cards and cryptopunks keep their value high