853

Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless. (markets.businessinsider.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

298 comments fedilink hide all child comments

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.

(page 4) 50 comments

sorted by: hot top controversial new old

[-] eestileib@sh.itjust.works 3 points 1 year ago

I'm just gonna plug The Great Crash 1929 by John Kenneth Galbraith. Really clear, funny, sarcastic writing that is highly relevant here. The kind of economics I wish there was a whole lot more of; the Samuelson program with its assumptions of rationality and perfect knowledge has been a disaster.

Free at

https://static.fnac-static.com/multimedia/PT/pdf/9780241468081.pdf

Mackay's Extraordinary Popular Delusions and the Madness of Crowds is also a great on-topic read:

https://www.gutenberg.org/files/24518/24518-h/24518-h.htm

The chapter about asset bubbles obviously, but there's also a chapter about the historical catchphrases of London that shows that circlejerk shitposting has always been part of humanity... Yesteryear's "What a perfectly dreadful hat" is today's Stroganoff.

load more comments (3 replies)

[-] KingThrillgore@lemmy.ml 3 points 1 year ago

Someone check on Seth Green

load more comments (1 replies)

[-] CookieJarObserver@sh.itjust.works 2 points 1 year ago

Most of them have been worthless all the time but people like gambling.

There are only very few that hold real world value.

[-] Railcar8095@lemm.ee 2 points 1 year ago

95% are worthless...so far

[-] ace_garp@lemmy.world 2 points 1 year ago

The great Tiny Tim has a comment about this digi-swindle.

load more comments

this post was submitted on 21 Sep 2023

853 points (96.3% liked)

Technology

59757 readers

2891 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 2 years ago

MODERATORS