Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.::NFTs had a huge bull run two years ago, with billions of dollars per month in trading volume, but now most have crashed to zero, a study found.

  • OldQWERTYbastard@lemmy.world
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    1 year ago

    You mean to tell me that purchasing what is essentially a URL hosted on someone else’s server is a poor investment?

    Shocked Pikachu Face

    • Osnapitsjoey@lemmy.one
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      1 year ago

      I like how the url could also have the picture changed if someone wanted to lol. You don’t even own the picture that the url points to, you just have a receipt that says “this url is my url, no I don’t own the url, because someone can change what’s on that. No I also don’t own whatever is hosted on that url either”

      • merc@sh.itjust.works
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        1 year ago

        And the receipt isn’t necessarily unique. The centralized world of Web 3 decided mostly to use Opensea(?) for NFTs, but it isn’t the authority on who owns URLs. It’s just the biggest, most commonly used “star registry” that let people claim that they owned certain stars. But, the same “stars” could be sold by other people on other platforms too.