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NFT Market Crashes as 95% of Collections Now Worthless, Reveals New Report

  • The vast majority (95%) of NFT collections are now worthless, with a market cap of 0 according to a new report.

  • 79% of all NFT collections remain unsold due to lack of demand to match supply in a volatile market.

  • Less than 1% of top NFT collections are worth more than $6,000, despite million-dollar deals in 2021.

  • 195,699 NFT collections with no owners required energy equivalent to 27,789,258 kWh and 16,243 metric tons of CO2 emissions.

  • Inflated valuations don't reflect genuine buyer interest, with some NFTs having huge price gaps between listed and actual sales.

theguardian.com
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