The Dot-com bubble and NFTs
The late 1990s to early 2000s were a time when the internet
– still in its infancy – was akin to the wild-west;
new, uncharted, and rapidly growing in usage and adoption. The
accompanying excitement over this new technology fuelled a stock
market bubble caused by untenable speculation on dot-com companies.
The bubble finally burst in March of 2000, resulting in the NASDAQ
'falling by more than 75 percent between March 2000 and
October 2002, thus wiping out more than $5 trillion [USD] in market
value.'1 Given the similar rise and the
prominence of Non-Fungible Tokens ('NFTs')
in the headlines over the past year, one cannot help but draw
parallels with the dot-com bubble. This poses the question of
whether we are in middle of the next dot-com bubble and, should it
burst, how much would be wiped off the value of the NFT market.
