Yes, the enthusiasm for NFTs has cratered, but we shouldn't use junk analysis to make that point. Too many news outlets uncritically reprinted a bad "study", and the resulting eye-catching headline was widely shared.
https://newsletter.mollywhite.net/p/news-flash-95-of-nfts-have-always
News flash: 95% of NFTs have ALWAYS been worthless
Be skeptical of catchy headlines and junk data, even when they affirm your prior opinions.
If I scribble out a lopsided drawing of my dog and try to sell it on Etsy or at a booth in an art convention, I probably won't find any takers. Most people probably won't take that to mean that the fine art market is in freefall, but that's kind of what happened here.
Molly White
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