See also:
Links to this note
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Over 95% of Nfts Are Worthless
A study of 73,000 NFT collections found that more than 95% had a market cap of zero ether and an estimated 23 million people are holding worthless assets.
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Make Twitter Less Annoying With Mute Words
Sometimes there are topics that are triggering, even tweets from people you follow that you genuinely want to see. Heavy use of mute words significantly improves the day-to-day experience.
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Unfollow Artists, Follow Archaeologists
There was a meme in on Twitter that you should unfollow VCs and follow artists. With the advent of NFTs however, art Twitter is now filled with crypto hawkers that can be quite grating. (Photographers seem to be immune to this so far—is there not NFT photographs?).
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Crypto Is the New Forum for Old Scams
Crypto is a hotbed of scams, but we shouldn’t be so surprised. It’s not that crypto enables new kinds of scams, but it’s a forum for old scams to be used again. Eventually, legislation and oversight will kick in and it will be harder for scammers to scam. In turn, they will take their playbook of scams and reuse them someplace else.
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Trading Volume of Nfts Fell 97%
A recent analysis of the trading volume of NFTs found that it fell 97% from $17 billion in January to $466 million in September.
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Cryptopunks Are the Star Wars Action Figures of the Future
A commonly cited success story of NFTs is CryptoPunks. They were 10,000 uniquely generated pixel art avatars released on the blockchain for free. They’ve since become a hugely sought after item with market prices greater than $7MM.