Technology

Get ready for the wild ride of non-fungible tokens and their collapse in the market using blockchain technology. Read more below.

Non-fungible tokens promised to revolutionise the concept of ownership using the blockchain technology behind bitcoin, but the market seems to have all but collapsed

By Chris Stokel-Walker

Bored Ape Yacht Club NFTs aren’t worth what they once were

mundissima/Alamy

The world went ape for digital drawings of primates in 2022. In 2023, we got bored.

Non-fungible tokens, or NFTs, were touted as a revolutionary technology that would upend the concept of ownership – and, more broadly, the global economy. These digital identifiers of ownership are stored on the blockchain, the same technology that underpins cryptocurrencies like bitcoin, but for most people the phrase calls to mind strange images sold at high prices.

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