this post was submitted on 24 Sep 2023
91 points (100.0% liked)

Technology

39658 readers
60 users here now

A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.

Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.

Subcommunities on Beehaw:

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 3 years ago
MODERATORS
TheRtRevKaiser@beehaw.org
alyaza@beehaw.org
gyrfalcon@beehaw.org
SemioticStandard@beehaw.org
coldredlight@beehaw.org
rs5th@beehaw.org
TheRtRevKaiser@kbin.social
remington@beehaw.org
91
Dead NFTs: The Evolving Landscape of the NFT Market (dappgambl.com)
submitted 2 years ago by fer0n@lemm.ee to c/technology@beehaw.org
24 comments fedilink hide all child comments
 

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.

you are viewing a single comment's thread
view the rest of the comments
[–] Hector_McG@programming.dev 17 points 2 years ago (1 children)

It’s not evolution, it’s an extinction event.

[–] fer0n@lemm.ee 11 points 2 years ago (1 children)

Haha one would hope so. I’m not buying any of their "this is the future of NFTs" aspects either. I feel like the only thing that could work are things like in game cosmetics, but that’s controlled by one company and in an controlled environment so why would you need to have an NFT for that.

[–] GunnarRunnar@beehaw.org 4 points 2 years ago

Tying NFT token to a physical object like a painting and keeping a database of who owns what seems potentially interesting. But why would you need it to be NFT based either, I don't know.