Bangkok Post – NFTs attempt a comeback

NFTs — which went from being touted as the cutting edge of the digital frontier to the punchline for the most recent crypto bust — are suddenly staging an unlikely comeback.

When the cryptocurrency bubble popped after a series of scandals in 2022, no corner of the market experienced more pain than nonfungible tokens. Global sales volume for NFTs plummeted 63% to $8.7 billion last year, with many assets becoming nearly worthless, according to data from CryptoSlam.

Those who spent fortunes on buying the hottest tokens were mocked as suckers and some investors even sued celebrity NFT promoters over claims that they’d been duped. Now, after Bitcoin staged a ferocious rebound amid the rollout of US exchange-traded funds pegged to the digital currency, the NFT industry is searching for ways to turn the page and reignite excitement in its corner of the digital…