Twenty-Three Million People Are Holding Dead NFTs. Almost None of Them Claimed the Loss.

Twenty-Three Million People Are Holding Dead NFTs. Almost None of Them Claimed the Loss.

At the top of the market, in the spring of 2022, the floor price for a Bored Ape Yacht Club NFT sat above a hundred ETH, six figures in dollars for a cartoon primate. Collections with no art to speak of, just procedurally generated rocks and pixel blobs, changed hands for the price of a down payment. Then the buyers stopped arriving. What’s left is one of the stranger financial graveyards on record. A 2023 study by the crypto platform dappGambl …