What happened Shares of WISeKey International (NASDAQ: WKEY) plunged as much as 13.5% in trading on Wednesday after a non-fungible token (NFT) auction got underwhelming results. Shares are down 12.3% at 3:20 p.m. EDT and show no signs of bouncing back. So what The auction of a digital twin of the Jean-Claude Biver Bang All Black Tourbillon Chronograph "special piece" began last week and didn't get a lot of bids. According to the auction site, only three bids have been placed for the NFT today, and the auction was extended until the end of April, far longer than the original April 5 end date. Image source: WISeKey. NFTs have been a hot topic with their blockchain security for identifying ownership, but they haven't proven to be a durable store of value yet. This auction tested that market; given the lack of interest, investors can't be impressed by the future of NFTs for watches. Now what NFTs are still testing the waters in the market and haven't yet shown where they can create value. If the physical watch were included in this auction, it might be more compelling, but right now it's just the digital twin and not the actual watch that's for sale. If investors aren't interested in this digital-only asset, it may mean a potential growth market in NFTs for WISeKey isn't materializing. 10 stocks we like better than WISeKey International Holding AGWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and WISeKey International Holding AG wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source