This chart is simply remarkable. It shows the transaction volume of non-fungible tokens (NFTs) on OpenSea, the largest marketplace. It peaked at nearly $5 billion in January 2022, which was basically Peak Insanity. How about these days? It’s down 99%. NINETY-NINE PERCENT, PEOPLE! Because NFTs are, ya know, completely stupid and useless!
Naturally, they sucked in hundreds of millions of dollars of investor capital from geniuses who thought they were going to get even richer off this crazy. So this hunk of shit company was valued at $13.3 billion.
Suffice it to say, the suckers who poured cash into this are never, ever going to see it again.
