TL;DR: The NFT market has drastically declined since its peak in 2021, with most NFT collections having no value. There’s an oversupply of NFTs, leading to a buyer’s market, and environmental concerns due to energy consumption. Top NFTs also struggle to maintain value, and the future of NFTs depends on utility and genuine value rather than speculation.

  • Well it’s the same as with any document, digital or physical, that shows ownership. Obviously it being NFT wouldn’t make it magically legit, same as with anything else.

    But like I said I don’t really see a point of that kind database being blockchain/NFT based anyway.