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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

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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.

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[–] Heavybell@lemmy.world 1 points 1 year ago (1 children)

Okay but what happens when the platform goes away, or decides to change the rules? That`s the only part I could see NFTs actually potentially answering. If the ownership verification was all done client-side via a blockchain it could potentially survive the shutdown of the store you bought it from.

Don't get me wrong, I can see problems with this. And potentially this could also be done with simple public key cryptography.

[–] Phrodo_00@lemmy.world 1 points 1 year ago

Yes, but that's a different, independent problem.