Kevin McCoy, widely regarded as the inventor of NFTs, reflects on the NFT boom and bust in an interview with Anika Meier for SLEEK. He discusses how his 2014 creation "Quantum"—a monetized graphics concept—unexpectedly sparked a speculative market frenzy, leading to a bubble that eventually burst. McCoy recounts his early efforts building a platform at NEW INC, which went out of business, and notes that while the market side of NFTs surprised him, the core blockchain technology for digital ownership has been validated.
This interview matters because it offers a rare, firsthand perspective from the creator of NFTs on the technology's evolution beyond the hype and crash. McCoy's insights challenge the narrative that NFTs are dead, arguing that the underlying concept of unique digital ownership has succeeded institutionally and technically, even if the speculative market has faded. His reflections force the art world to reconsider what NFTs mean for digital art, ownership, and value long after the trading card mentality subsided.