Left (LEFT) co-founder Anatoly Yakovenko thinks an emerging crypto industry will support the future of social networks.
In a new interview with Markets Insider, Yakovenko thinks and argues that fiat/non-changeable tokens (NFTs) offer potential benefits that traditional social media platforms lack.
“I think these are the initial stages of real web social networks that don’t rely on ads to make money, don’t rely on Google or Facebook to work…
These are purely digital communities that can monetize their own content without the need for any of these external “poison marketplaces.”
According to data aggregator CryptoSlam, a Ethereum (ETH) competitor Solana is currently the fourth most popular blockchain of all time in terms of NFT sales volume, with more than $752.4 million in sales.
Ethereum tops the list with more than $10.89 billion in total sales volume. Axie Infinity (AXS)Ronin, a sidechain developed for play-to-win gaming, is second with more than $3.67 billion.
Data provider Statista revealed that NFT users this year have grown from around 46,000 in January to over 500,000 in November.
Yakovenko thinks the burgeoning crypto industry will eventually attract 100 million users.
“I’m really excited to see an NFT community grow from 10,000 to 100,000, then one million, and then 100 million – that’s incredible, isn’t it?
What does that look like with 100 million people in the same community driven by this digital content?”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.