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The Guardian - US

Technology

Maya Yang

The vast majority of NFTs are now worthless, new report shows

NFT Melania Trump CoinMarketCap Crypto

woman looks at an NFT of lots of numbers — NFTs, or non-fungible tokens, are a form of crypto asset that is used to certify ownership and authenticity of a digital file including an image, video or text. Photograph: Timothy A Clary/AFP/Getty Images

Tens of thousands of NFTs that were once deemed the newest rage in tech and dragged in celebrities, artists and even Melania Trump have now been declared virtually worthless.

According to a new report by dappGambl that reviewed data from NFT Scan and CoinMarketCap, 69,795 out of 73,257 NFT collections have a market cap of 0 Ether, leaving 95% of those holding NFT collections – or 23 million people – with worthless investments.

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