this post was submitted on 24 Sep 2023
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Technology

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Dead NFTs: The Evolving Landscape of the NFT Market (dappgambl.com)
submitted 1 year ago by fer0n@lemm.ee to c/technology@beehaw.org
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TL;DR: The NFT market has drastically declined since its peak in 2021, with most NFT collections having no value. There's an oversupply of NFTs, leading to a buyer's market, and environmental concerns due to energy consumption. Top NFTs also struggle to maintain value, and the future of NFTs depends on utility and genuine value rather than speculation.

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[–] lloram239@feddit.de 1 points 1 year ago* (last edited 1 year ago)

Not even that. The NFT gives you ownership of the NFT itself and nothing more. It doesn't give you ownership or copyright over whatever the NFT is pointing to. Furthermore the links in the NFT are public and everybody can access them, the NFT does not work as access token to the content.

You could build a system where the NFT acts as access token and where every NFT comes with a license agree that say "Whoever owns this NFT has copyright over work XY", but nobody has done that yet or at least not at scale.