22 hours ago
A $180,000 image of a Taco Bell taco, an $800 virtual Pringles can, a $265 piece of Charmin toilet paper. In summer 2021, as prices of major cryptocurrencies swelled to record highs, it seemed like branded nonfungible tokens (NFTs) were inescapable and regularly commanding head-scratching sums.
Crypto companies billed their digital ownership model as a basis for a new iteration of the internet. And they worked diligently to create a sense of technological inevitability and fear of missing out around that idea.
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A $180,000 image of a Taco Bell taco, an $800 virtual Pringles can, a $265 piece of Charmin toilet paper. In summer 2021, as prices of major cryptocurrencies swelled to record highs, it seemed like branded nonfungible tokens (NFTs) were inescapable and regularly commanding head-scratching sums.
Crypto companies billed their digital ownership model as a basis for a new iteration of the internet. And they worked diligently to create a sense of technological inevitability and fear of missing out around that idea.
To Read the Full Story Become an Adweek+ Subscriber
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This story first appeared in the Nov. 21, 2022, issue of Adweek magazine. Click here to subscribe.
Patrick Kulp is Adweek’s senior reporter covering emerging tech.
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