Recent research conducted by dappGambl revealed that the vast majority of NFTs are worthless. Of the 73,257 NFT collections identified, around 69,795 of them had a market cap of 0 Ether. The report pointed out,
“This statistic effectively means that 95% of people holding NFT collections are currently holding onto worthless investments. Having looked into those figures, we would estimate that 95% to include over 23 million people who’s investments are now worthless.”
dappGambl found that eighteen percent of the top NFT collections identified by CoinMarketCap have a floor price of zero, "indicating that a significant portion of even the most prominent collections are struggling to maintain demand," dappGambl said.
Additionally, 41 percent of NFTs are priced between $5 and $100, and less than 1 percent are valued above $6,000, all of which points to genuine value in the NFT market being hard to find, said dappGambl.
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