Your NFTs Are Absolutely Worthless According To This New Study

In a shocker to nearly everyone, a new study shows that the NFT market is worthless.

Yes, it turns out that people don't really care about having "1-of-1" ownership to digital photos or artwork when anyone can screengrab it and share it with their friends. Sure, they may not be able to profit off of it per say, but in the end nobody really cares.

Sorry for all the 'bored ape' owners out there, you got scammed.

THE NFT MARKET SURGED IN 2021 AND 2022

According to a new study by dappGambl, 95% of more than 73,000 NFT collections have a market cap of zero. In total, they believe that 23 million people may have something that is essentially as worthless as that app on your iPhone that you've never used once in your life.

And for the NFT's that actually do make money? The overwhelming majority of them are looking at a value of anywhere from $5 to $100. Yikes.

A far cry from Tom Brady dropping over $400,000 on a single NFT image. It's the latest poor investment for Brady, who also lost $45 million in the FTX cyrptocurrency crash. If Brady keeps this pattern of poor investments going he may have to suit up again in the NFL.

The NFT market has run its course with over 95% reportedly being worth nothing now. Photographer: Anthony Kwan/Bloomberg via Getty Images

CRYPTO ALSO FALLING

The rise of NFTs and crypto were all the rage throughout the pandemic. In 2021 and 2022 alone the NFT market saw a massive bull run that accounted for $2.8 billion in monthly value - just absurd numbers for something that one couldn't physically touch. What kind of nerd do you have to be to want to show someone something on your phone or computer every single time? "Oh that's great..." as one rolls their eyes at a digital Jack Harlow basketball.

Still however, we all had that one person in our friend group that "swore" by NFTs and how valuable they'd be and how they are "the future!" If they didn't flip the profit, those people are now broke unless they want to continue holding out for a resurgence that experts say will most likely never come.

"It becomes clear that a significant portion of the NFT market is characterized by speculative and hopeful pricing strategies that are far removed from the actual trading history of these assets," dappGambl researchers said.

"This apparent disconnect between listed prices and actual sales could suggest that many sellers are waiting for another massive surge in NFT interest akin to the boom witnessed in 2021, which may not ever occur again."

We can only hope. But hey, at least you can stare at that digital image and wonder where it all went wrong.