The market for NFTs has grown to $40 billion. Is it, however, a complete scam?

On the one hand, it drew major people from the tech, sports, and entertainment industries.

On the other side, multi-million dollar fraud occurs every week.

Some regard it as a game-changing technology, while others dismiss it as idle guesswork.

What really is the truth? What is the end result of all of this?

A large market is developing here. Celebrities are paying exorbitant fees to capitalise on the excitement.

This has spawned an industry of thousands of freelancers that develop NFTs for a career. The issue for both is that this market is based on fragile ground.

Prices and interest rates might plummet overnight, and it can be difficult to distinguish what is real and what is merely market manipulation.

Is it possible to have faith in this market? Why is fraud becoming more prevalent? And what is the real value of NFTs?

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