Can you share a few well - known NFT horror stories?
Sure. There was this one NFT project where the creators disappeared after collecting a huge sum from investors. The NFTs became basically worthless overnight. It was a real shock to those who had bought into the hype.
Well, a lot of people got caught up in the NFT boom. There were NFTs of digital real - estate. But as the market cooled, the value of these NFT - based real - estate dropped drastically. People who had planned to make a fortune found themselves with assets that had little to no value. It's like a horror story for investors who were overly optimistic.
One case involved an artist who sold NFTs of their work. Later, it was found out that the NFTs were being sold on other platforms without the artist's permission. The artist had no control over their own work in the NFT form, and the buyers were also in a difficult situation as the legality of their purchases became questionable. This is a very concerning and horror - like situation in the NFT world.
