It is still one of the important factors in ranking but there is hardly anyone who would give you links to your site / content that is dofollow and those dofollow sites are actually spammed like anything.
No-follow links aren’t that bad! They may not bring you any backlinking credit... But they can, nevertheless, generate streams of referral traffic for your website.
Yes I agreed with C.Rebecca answer. No-follow back-links can not bring back-links credit but absolutely it can bring traffics towards your website.
No follow drives traffic but does not help in getting rank. Something is better then nothing actually. No follow is not a taboo.
The basic difference between do follow and No follow link is that do follow link help to increase page rank for our site whereas no follow link don't do that..:thinking: