Bitcoin maximalist Anthony Pompliano says the growth and adoption of the NFT ecosystem is underestimating. Pompliano is on the rise in NFTs and explains this for several reasons…
NFTs like Bitcoin have been criticized
The cryptocurrency market has faced numerous criticisms from some of the most respected financial figures over the years. Bitcoin has faced a lot of backlash in the past, and even now, from prominent CEOs and founders, who, ironically, are one of its biggest supporters. Many other altcoins suffered the same fate, and while some fell, the vast majority were massively adopted over time. NFTs are also one of the newest “crazies” in the cryptocurrency market, and like the ones mentioned above, they are receiving a lot of criticism.
Anthony Pompliano: NFT sector ‘far bigger than I expected’
Anthony Pompliano, who has supported the NFTs, remembers being skeptical of their long-term dominance despite the multi-billion dollar industry involving some of the world’s biggest football and entertainment stars. However, in a very recent post, we see Pompliano stepping back from his previous views and explaining why NFT projects will be “much bigger than he expected”:
The NFT token industry is a market-expanding technology that will consume not only digital art but also collectibles, high-end luxury goods and much more.
Could Pompliano be wrong?
cryptocoin.com According to Adrian Klent, whom we share his views as, Pompliano is not wrong in his claim, because NFTs have become very popular since he first expressed his support for the cryptocurrency class. In 2021, data reveals that NFT industry sales in the first half of the year exceeded $2.5 billion in volume. But in August, OpenSea, a single NFT marketplace, recorded over $3 billion in sales volume. This was driven by several factors. One such factor is that NFTs are beginning to be seen by investors as status symbols like physical luxury goods. Some cryptocurrency advocates even compare it to preferring NFTs to physical items for trading, gaming and recreation of the digital collectibles market.
Therefore, Pompliano hopes that NFT technology will far exceed its current level of success and acceptance as it becomes more mainstream and finds new use cases. Already, according to Klent, NFTs are getting some very innovative uses that Pompliano pointed out. There are now interactive NFTs that update themselves based on real-world events that happen to the entities they represent. It was developed by Ethernity Chain. Another emerging type of NFT is an intelligent NFT developed by Alethea AI. It is powered by AI technology to solve simple problems.
Meanwhile, Anthony Pompliano gave advice to NFT investors:
Frankly, it’s very difficult to think of all the possibilities as to where all this is going. If you are an investor and just starting to learn about this new world, I highly recommend taking your time. speed up as soon as possible.
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