Mr. Krabs sold the Krusty Krab to make NFTs.
I could see this being an actual plot line where, along with his usual grill duties, spongebob is made to be an artist by “drawing the food while you cook it, boy” as krabs would put it. Throughout the episode, squidward would get angry that people want pictures of the food they’re eating rather then his “art”. It would all come to a close when plankton ends up tricking Mr. Krabs into releasing an NFT of the secret formula. Krabs would flood the market with them, and since NFTs are, by definition, non-fungible. Plankton is left to sift through various formula NFTs all while their value plummets.