NFTs Are the Big Holiday Gift This Year — Whether You Want One or Not

This Christmas’s unexpected stocking stuffer might be an NFT.

People who are both new and experienced in the nascent world of non-fungible tokens say they’re planning on distributing the digital gifts to friends and family — who might not really know what to do with the presents.

Abraham Aradillas says he hadn’t heard of an NFT until about six months ago, after they exploded onto the popular culture mainstream and were parodied by SNL. But now the 23-year-old truck driver from Dallas says he’ll be buying Platy Punks — a popular NFT with the image of a platypus — for all his friends for Christmas, and he thinks they’ll be excited and confused.

“When I told my friends I bought an NFT, they laughed at me. They’re like ‘You bought a picture of a platypus.’ So I think they’ll have the same reaction,” Aradillas said.

As the prices of Bitcoin and other cryptocurrencies have skyrocketed in the past year, NFTs have been lifted up in the mania. They’ve piqued the interest of people who started trading and managing their own portfolios during the pandemic, as well as those who finally got a handle on crypto.

Some gift givers say they hope their friends and relatives will learn about NFTs or that the token will be a good investment: Sort of like a lottery scratch-off, the gift could pay off big time. In other cases, the gifts are more akin to collectables, souvenirs or art.