NFTs

NFTs—or non-fungible tokens—are not gadgets or even physical objects that you can hold. But they are tech you can buy and they suck, and that’s what makes them perfect for this list. NFTs dominated technology conversations this year, and yet they feel like a big joke that everyone who’s ever existed on Planet Earth is somehow on the outside of.

Let’s say you decide to spend your money on an NFT of a piece of digital artwork. But you don’t actually own the art, you just own what is essentially the deed to the art. Anyone can right-click on that artwork and save it, so the deed you own is essentially a speculative asset that’s not worth anything. Except it’s worth… $300,000? Hmm… back to square one.

In 2021, brands made it clear: They do not, under any circumstances, care if crypto art is a bubble that’s built to burst, or if the energy use required to mine many popular cryptocurrencies is horrible for the planet. If people will spend money on it, the brands said, we’re all in. To wit, brands like Taco Bell, Applebee’s, and Adidas all recently announced that they’d entered the NFT game, and former First Lady Melania Trump just announced that she’s selling an NFT of a watercolor painting of her eyes. Influencers have also shamelessly entered the game, with celebrities like Snoop Dogg, Grimes, and Ellen Degeneres all hustling to make big sales in the NFT trade. NFTs may seem like a scam to the untrained eye, but rich people are getting even richer on them. When has that ever not worked out! —Brianna Provenzano