For many people, NFTs became something they started noticing everywhere, and before even really understanding what a non-fungible token or bored ape was, the market cratered.

Trading volume on the NFT marketplace OpenSea is down 57% over last month. In an economy facing staggering inflation and still recovering from the worst of a global pandemic, continued supply chain woes, and a war in Ukraine, the last thing anyone wants to spend actual money on is maybe-racist jpegs of primates that have little function and are only worth what other rich assholes are willing to pay for it.