The Death of NFTs: 95% of Digital Collectibles Rendered Worthless

A new report by dappGambl reveals that the majority of NFTs purchased during the 2021 boom are now essentially worthless, with 95% of NFT collectors holding onto investments that have a market cap of 0ETH. The report also highlights the imbalance in supply and demand, as only 21% of NFT collections have been fully bought up. Additionally, the environmental impact of minting NFTs is significant, with the emissions of 195,699 NFT collections measuring approximately 16,243 metric tons of CO2. Even the top NFT collections are struggling to maintain their value, with 18% dropping to a floor price of zero and 41% priced between $5 and $100. However, the possibility of an NFT comeback remains, albeit uncertain.