NFT Trading Down 90%+ As Market Shows No Signs of Recovery — Here’s What’s Replacing It
Non-fungible tokens were always about as valuable as a casino chip. Up one moment; lost completely the next. The lucky ones may have hit the double 00s on the roulette wheel, like those who bought Pudgy Penguin coins when it hit all time lows in 2024 and then rose from the ashes. For the rest of the NFT holders, asset values are not coming back in 2026.
Many serious Bitcoin investors always wondered why NFTs were a thing in the first place. It made digital asset investing look more like a man-child, science fiction gambling den, muddying the waters for real money to ever take blockchain and cryptocurrencies seriously.
“I hate to say it, but most NFTs today are simply worthless, they don’t have any real or redeemable value,” said Steven Willinger, General Partner at Blockchain Builders Fund. Willinger once led investments at Coinbase Ventures. “That said, I still NFTs play a meaningful role as a technology layer, quietly powering real-world assets, gaming ecosystems, and on-chain identity,” Willinger said.
During the hype years in the mid 2000s, when Bored Ape Yacht Club had thematic burger joints in California, attention from the crypto media and Bitcoin event organizers drove prices. “That whole market became a zero-sum game of speculation,” Willinger said. “That money’s long gone, and there’s little reason …
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