Payouts to NFT creators fell 98% from a peak of $269M in January 2022 to $4.3M in July 2023.
Even though I lived through it, it’s still mind blowing to me that trading receipts saying you own a JPEG was generating a quarter of a billion dollars in revenue per month for sellers of said JPEGs.
They didn't even own the jpeg, they just owned a link to it
nostr:npub19qm2trjs3p32nwqwry4ufxl4fk9q4utkq53ywueg0yk8cvggra5s79sn8k Humans are just kinda weird.
I mean, look at how much some actual artwork goes for. Red dot on white canvas painting.
Oh, and status-symbol stuff like Gucci bags.
Sure, those things aren't *quite* as dumb^W weird as paying $$$$ for digital image files, but yeah, it's often hard to rationally justify a lot of what we humans prioritize and value.
