The Wall Street Journal Is Dead Wrong About The NFT Market’s Supposed Collapse

The NFT market is thriving, actually. Once again, the Wall Street Journal makes a fool of itself by tackling subjects beyond the publication’s comprehension. The author declares “the NFT market is collapsing,” citing suspicious numbers and two cases of bad trades as proof. And then, to top it all off poses a terrible theory. The “NFT Sales Are Flatlining” article is embarrassing beyond belief. <pre style=”text-align: center;”>Disclaimer: The following op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.</pre> Among other things, it proposes the worst definition of NFTs ever written: “NFTs are bitcoin-like digital tokens that act like a certificate of ownership that live on a blockchain.” No, NFTs are not “bitcoin-like” at all. And the WSJ just forgot about the “non-fungible” aspect of these unique digital assets. And yes, someone bought an NFT of Jack Dorsey’s first tweet for $2.9M, another person bought a Snoop Dogg endorsed one for $32K. Both tried to auction the digital assets and only got embarrassingly low offers. Based on those two cases, the WSJ implies that the whole NFT market is dead on the water. https://twitter.com/srussolillo/status/1521530100491165698 The WSJ bogus numbers about the NFT Market Admittedly, the Wall Street Journal probably has access to a wider array of data t...