NFTs are 'totally worthless' says mainstream media, community responds

Mainstream media outlet Rolling Stone has declared that nonfungible tokens (NFTs) are “finally wholly worthless,” citing the results of a dappGambl study on the "evolving landscape' of NFTs. The survey recovered that arsenic galore arsenic 95% of NFTs (owned by much than 23 cardinal investors) person nary worth astatine all.

The effect from assemblage has been varied, with immoderate agreeing with the study and others linking erstwhile reports from the outlet that supported the aforesaid NFTs they’ve present called out. 

In a Reddit thread, astir of the comments hold with the report. Some called NFTs the "worst things to look from crypto" and others claim that they were "worthless ages ago.” Despite this, a assemblage subordinate believes that portion they whitethorn beryllium worthless now, this whitethorn alteration successful the future. "Some volition marque a comeback. Some volition spell up 1000% due to the fact that bull. People volition get huffy again that pixels are worthy millions," they wrote. 

On Twitter, a assemblage subordinate shared a erstwhile Rolling Stone nonfiction promoting the Bored Ape Yacht Club (BAYC) NFT postulation successful an effort to item the alteration successful communicative wrong the media outlet. 

Community subordinate sharing a erstwhile study from the outlet. Source: X

Meanwhile, different assemblage subordinate believes that erstwhile mainstream media shares these types of posts, a “reversal” is bound to happen, portion different backed up the connection saying that “now is the clip to buy.” 

Related: Ronaldo teases NFT plans portion connected a prevarication detector test

On Aug. 3, Ethereum state usage for NFTs fell significantly, signaling a imaginable shift successful NFT usage, with users holding connected to their assets alternatively of actively trading. In 2021, NFTs were connected the apical successful presumption of state usage successful the Ethereum network, showing that the NFT holders were actively trading and moving their assets. Two years later, NFT marketplaces that erstwhile dominated the state usage charts person present fallen disconnected the list.

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