95 percent of NFTs (non-fungible tokens), known as Qualified Intellectual Property, are now worthless. The monetary value of qualified intellectual property titles, which generally consist of thousands of cartoon characters that are copies of each other, and are glossed as ‘digital art’ in some circles, has collapsed. NFTs have been marketed as non-fungible, meaning a digital file is unique. With these features, it attracted the attention of technology investors.
This has become the new investment area, especially for tech enthusiasts, as it means that the owner of the NFT cannot exchange or exchange it for another token. The uniqueness of NFT has increased its value and attracted millions of investors to this field. This area, where everyone is competing to acquire NFT, which has suddenly become the center of attention, is now remembered as worthless. According to the DappGambl report examining NFT Scan and CoinMarketCap figures, the market value of 69,795 out of 73,257 NFT collections was expressed as 0 Ether. The number of people with NFTs that have no value reached 23 million.
In recent months, the market value of Twitter Founder Jack Dorsey’s first tweet, which was sold for 2.9 million dollars in 2021, dropped to less than 3 dollars. Nowadays, while the main agenda of the digital world is artificial intelligence and its related systems, NFT products seem to be forgotten. According to the relevant report, interest in NFTs has decreased so much that 79 percent of the collections cannot be sold due to lack of participation. The report stated that less than 1 percent of the collections were worth more than 6 thousand dollars. According to many, the NFT market came and went with the promise of short-term prestige and popularity. Let us also remind you that thousands of companies participating in this trend have made significant investments.