NFTs (Non-Fungible Tokens) have exploded in popularity in 2021. This sucks. NFTs use blockchain technology to allow artists and creators to sell a “special type of cryptographic token which represents sgomething unique”, so each token is one-of-a-kind. Though to be clear: only the token itself is certified as unique. The digital art, video, or whatever-file connected to that token isn’t actually unique and can easily be shared and copied freely. All you own when buying an NFT is a really expensive receipt, not the actual digital file.
As of last month, the age of NFTs was officially upon us. As of this month, it might be on its way out. Average prices have declined by as much as 70% since a peak in February, according to Bloomberg. That, however, has not stopped big-name streaming and esports figures from announcing their own NFT collections.