The mainstream media “Rolling Stone” cited dappGambl’s research results on the “evolving landscape” of NFTs, declaring that non-fungible tokens (NFTs) are “ultimately completely worthless.” The study found that as many as 95% of NFTs (owned by more than 23 million investors) have no value at all.
Reaction from the community varied, with some agreeing with the report and others linking to previous reports from media outlets supporting the NFT they are now calling for.
In the Reddit thread, most comments agreed with the report. Some have called NFTs “the worst thing to ever happen in cryptocurrencies,” while others claim they “were worthless a long time ago.” Still, one community member believes that while they may be worthless now, that could change in the future. “Some will come back.” Some will go up 1,000% because of the bull market. People will be angry again because pixels are worth millions of dollars,” they wrote.
On Twitter, community members shared A previous article published by Rolling Stone promoted the Bored Ape Yacht Club (BAYC) NFT collection in an attempt to highlight the changing narrative within the media.
Meanwhile, another community member believe When mainstream media shares such posts, a “reversal” is bound to occur, while another media outlet may experience a “reversal.” supported “Now is the time to buy,” the statement said.
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On August 3, Ethereum Gas usage for NFTs dropped significantly, suggesting a possible shift in NFT usage with users holding assets rather than actively trading. In 2021, NFTs topped the list in terms of Gas usage on the Ethereum network, indicating that NFT holders are actively trading and transferring their assets. Two years later, the NFT market, which once dominated the Gas usage rankings, has fallen off the list.
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