New Research Reveals 95% of All NFTs Are Worthless

Recent research has brought to light a concerning trend in the NFT (Non-Fungible Token) market, revealing that a significant majority of NFTs are now considered worthless, trading at a market cap of zero Ethereum (ETH).

Decline in NFT Market Values: The study shows a significant decline in the overall market values of NFTs, with many now being valued at zero ETH.

Low Ownership: Only 21% of the analyzed NFT collections were fully claimed or had over 100% ownership, indicating a low level of demand for the majority of NFTs.

Oversupply: The research suggests that there is an oversupply of NFTs in the market, with a significant number of new NFTs being created but a lack of corresponding demand for these digital assets.

Market Contraction: The NFT market has experienced a significant contraction in trading volume, with weekly traded values plummeting compared to the peak of the NFT hype in 2021.

Top NFT Collections: Even among the top NFT collections listed on CoinMarketCap, the research found that 18% have a floor price of zero, and only 1% command a price above $6,000.

This research sheds light on the speculative nature of the NFT market and the challenges it currently faces. The oversupply of NFTs and the decline in demand have created a buyer's market, where investors are becoming more discerning and cautious about the NFTs they choose to invest in.

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