While i don't necessarily agree with the rehashing of David Gerard's endless "All cryptos are a ponzi scheme" refrain, the body of the argument is what I've been saying to anyone who would listen, for a while now.
As an artist myself, who got caught up in the original hype about NFTs and uploaded a few pieces to OpenSea [No sales, no bids, no interest], and then, foolishly, did my "due diligence" after the fact, I came to pretty much the same conclusion. The only 'artists' making money are either already established, have lots of press coverage or are 'celebrities' of some kind. Oh, and of course, as with any goldrush, the "pick and shovel sellers" like OpenSea and the various other NFT marketplaces.
Luckily I only lost about 60 Euros worth of ETH in wallet set up fees. So I'll just put that down to experience and move on. Although that in itself is annoying enough as OpenSea [and the other NFT marketplace sites?] give the impression these fees are to cover the cost of 'minting' your artwork and adding it to the blockchain. While, in reality, nothing is added to the blockchain until an NFT is sold. Basically you're paying the ridiculously high up-front fees just for the privilege of listing your items on their site. Even eBay isn't that egregious!
As an artist myself, who got caught up in the original hype about NFTs and uploaded a few pieces to OpenSea [No sales, no bids, no interest], and then, foolishly, did my "due diligence" after the fact, I came to pretty much the same conclusion. The only 'artists' making money are either already established, have lots of press coverage or are 'celebrities' of some kind. Oh, and of course, as with any goldrush, the "pick and shovel sellers" like OpenSea and the various other NFT marketplaces.
Luckily I only lost about 60 Euros worth of ETH in wallet set up fees. So I'll just put that down to experience and move on. Although that in itself is annoying enough as OpenSea [and the other NFT marketplace sites?] give the impression these fees are to cover the cost of 'minting' your artwork and adding it to the blockchain. While, in reality, nothing is added to the blockchain until an NFT is sold. Basically you're paying the ridiculously high up-front fees just for the privilege of listing your items on their site. Even eBay isn't that egregious!