Friday, June 2, 2023

Why 95% Lost from NFTs #shorts #nft

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Millions of dollars were spent on NFTs, and over 95% of the people lost their money. So why did that happen?

Number 1, many people thought they were buying the picture, but they were not. You don’t get copy-right over it. All you get is a transaction on the blockchain so you can prove you own the NFTs in your wallet

2. It’s not important what you buy, but what you receive from the purchase – service or a product attached to the NFT, access to a community, a ticket to an event.

3. billions of NFTs were uploaded to Opensea and the other marketplaces, which drastically increased the supply and minimized the demand.

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#shorts #youtubeshorts #nfts

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