Ribbon microphones date back to the 1920s and for decades were the de facto mics for broadcast and for recording instruments, including guitars. Then, when transistor technology took a hold in the 1950s, condenser mics surged in popularity and ribbon mics fell out of fashion.
Which is a shame, because ribbon mics are unparalleled for capturing highly detailed, transparent, authentic recordings with a smoothness that no other mic can match. Part of the reason for their historic downfall was that the ultra-thin foil ribbon they use in place of a diaphragm and coil is susceptible to damage if mishandled. More significantly, they are passive microphones that need a high impedance preamp capable of supplying a very large dollop of gain, which made them impractical for many users.
The good news is that ribbon mics are now back and rising in popularity. Many of the newest versions have active circuitry that does away with the need for a high-impedance, high-gain preamp and, to some extent, protects the foil ribbon from failure.