this post was submitted on 21 Sep 2023
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Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless. (markets.businessinsider.com)
submitted 1 year ago by [email protected] to c/[email protected]
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Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.::NFTs had a huge bull run two years ago, with billions of dollars per month in trading volume, but now most have crashed to zero, a study found.

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[–] [email protected] 1 points 1 year ago (1 children)

Some had ipfs links. In that case they couldn't be changed.

[–] [email protected] 1 points 1 year ago (1 children)

Everything we create can be changed. Just because it may be difficult doesn't mean it is impossible, no matter what those tech bros tell you.

Same with any blockchain. Nothing is secure, everything can be hacked.

In a matter of fact, it already has happened.

[–] [email protected] 0 points 1 year ago* (last edited 1 year ago)

You do know the hash of the file part of the address, right? Any different file would by definition be a different address.

There could be an undiscovered bug in ipfs, but then that bug would be highlighted and fixed, and you could find a way to break the hashing algorithms, but then we'd have far bigger problems than an NFT being changed.

Also, the article you linked to lists no attacks on the blockchain, only theft of bitcoins using normal blockchain operations. That's like saying someone hacked the US dollar when doing a bank robbery.