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Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.
(markets.businessinsider.com)
this post was submitted on 21 Sep 2023
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Yes, its largely inexpensive to spin up a new batch of collectibles, so the vast majority of them are indeed worthless because anyone can just make one.
The small handful that are actually collected by the public at large and are considered worth something... continue to be worth something.
It's like grouping thousands of meaningless mass produced collectable trading cards made by game companies that no one actually gives a shit about, in with the likes of MTG/Pokemon/Hockey/Baseball/etc
Like yeah if you look at it as a whole, no one gives a shit about 99% of them, because its literally just ink on paper, so its not exactly that hard to shit out yet another "collectible" no one cares about.
But the public will latch onto the very small handful that actually hold some form of appeal, and those will absolutely continue to hold value.
99.9% of Magic the Gathering cards aren't worth the ink and paper they are made of.
Doesnt have any bearing on whether your mint condition Black Lotus is worth $$$$
Which NFTs continue to hold value? What's the Black Lotus of NFTs?