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- Most NFTs are now likely worthless, less than two years after a massive bull run in the digital collectibles.
- A new study found 95% of over 73,000 NFT collections have a market cap of 0 ETH.
- Out of the top collections, the most common price for an NFT is now $5-$10.
Are NFTs dead?
A recent study looking at the price of thousands of collections seems to suggest the answer is, "yes."
A report by dappGambl found that 95% of non-fungible tokens are effectively worthless. Out of 73,257 NFT collections, 69,795 of them have a market cap of zero ether, based on data provided by NFT Scan and CoinMarketCap.
By their estimates, almost 23 million people hold these worthless assets.