The post-Trump election crypto rally, which sparked a surge in bitcoin prices to record levels and a boom in meme coins, seems to be leaving one crypto boom fad – NFTs – in the slow lane.

In a bubble market in 2021-22, prices for the digital assets, known as non-fungible tokens, went through the roof. Bored Ape NFTs, featuring images of cartoon-like monkeys, were changing hands for more than $US400,000, a collage by digital artist Beeple fetched a staggering $US69.3 million ($110 million), at a Christie’s auction, an animated feline called “Nyan Cat” sold for $US600,000, and an image of Twitter co-founder Jack Dorsey’s first tweet sold for more than $US2.9 million.