Shape-persistent purely organic molecular architectures have attracted tremendous research interest in the past few decades. Dynamic Covalent Chemistry (DCvC), which deals with reversible covalent bond formation reactions, has emerged as an efficient synthetic approach for constructing these well-defined molecular architectures. Among various dynamic linkages, the formation of ethynylene linkages through dynamic alkyne metathesis is of particular interest due to their high chemical stability, linearity, and rigidity. In this review, we focus on the synthetic strategies of discrete molecular architectures (e.g., macrocycles, molecular cages) containing ethynylene linkages using alkyne metathesis as the key step, and their applications. We will introduce the history and challenges in the synthesis of those architectures via alkyne metathesis, the development of alkyne metathesis catalysts, the reported novel macrocycle structures, molecular cage structures, and their applications. In the end, we offer an outlook of this field and remaining challenges.