Non-fungible tokens burst into the public consciousness in a big way in early 2021. Digital collectibles like Cryptopunks and Bored Apes came from nowhere to dominate the crypto landscape. The NFT craze quickly caught fire, with a seemingly endless string of headlines of people paying multi-million dollar price tags to acquire the most sought after tokens.
However, the dramatic rise of NFTs was followed by an equally stunning collapse, with prices dropping like a stone as the crypto industry was dragged down by bear market forces. So it’s not surprising that there’s a lot of speculation around the future of NFTs. For many, what was once seen as a disruptive force was quickly turning out to be just another fad.
The Rise And Fall Of NFTs
Projects like Cryptokitties, a blockchain game where people adopt, raise, and trade virtual cats, were the driving force behind the march of NFTs into the mainstream. Some of the most valuable crypto…
