Bitcoin Will Fade Against NFT.
O’Leary with CNBC Interview “You will see a boom in the next few years in terms of online features like authentication, insurance policies, and real estate tax transfers, which could make NFTs a more liquid market than Bitcoin.” He also added that he is “investing in both sides of this equation.”
O’Leary also said that he personally also invests in cryptocurrencies. It has revealed that the majority of its cryptocurrency portfolio is in Ether, while it also owns other tokens such as Bitcoin, Solana, and Polygon.
Not many people had heard of NFTs in 2020, but it has become a trend in 2021. According to a report by decentralized application discovery and analysis (DAP) platform DappRadar, NFT’s trading volume for the year 2021 It surpassed $ 23 billion (approximately Rs 1.71,297 crore) when celebrities, gaming teams and big brands entered the market. Markets like OpenSea, Atomic Market, and Solanart are among the most popular Apps.
DappRadar’s report shows that NFT sales grew 230 times in 2021 compared to 2020 figures, which were previously only $ 100 million (approximately Rs 744.94 crore).
However, there are also concerns about market stability. There is also fraud in this market. In recent months, some investors have been fooled into betting on startups through unregulated token sales. There have also been many cases of fraud and art theft, which are red flags for some merchants.
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