95% of NFTs have a market cap of zero? | Discussion Bucks

95% of NFTs have a market cap of zero?

Joshua Farrell

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Sep 21, 2023
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One of the latest studies conducted regarding the NFT market found that 95% of NFT collections have a market capitalization of 0.

The bearish market has been affecting the whole crypto industry downside, but regards NFT niche, it has been worst. Almost all NFTs have a market cap of zero, meaning investors and adopters have completely lost interest for them after so much hype and excitment we saw during the year of 2021.

Does it mean NFT is a scam sector of crypto market, or is their concept good, but the execution of the projects are wrecking everything? Is it still possible for NFTs to recover their credibility?