NFT is art (VERY LOOSE COMPARISON). If you believe that then of course there is TONS of art that not only has zero bids but also never gets sold. I think NFTs are overhyped now but there is clearly a market for them. Speculating on them is similar to art collecting, all speculative. So I don’t see anything inherently wrong with it (something being puffed up isn’t illegal)
It's not "NFT" as a tech, it's the ability for the OpenSea ecosystem to maintain real value throughout time. That's very dubious, it's a house of cards balancing an elephant on top imho.
Natural entropy and new novelty will erode the foundation of that specific ecosystem for something that provides a wider opportunity for more new users to create/retain value.
Memecoins can at least be tracked in value, the dynamics of these UGC meme driven communities, especially ones like doge, shiba uni, and now dogebonk, the exponential community growth effects are what matter most.
NFT is art (VERY LOOSE COMPARISON). If you believe that then of course there is TONS of art that not only has zero bids but also never gets sold. I think NFTs are overhyped now but there is clearly a market for them. Speculating on them is similar to art collecting, all speculative. So I don’t see anything inherently wrong with it (something being puffed up isn’t illegal)