In recent weeks and months, public awareness of non-fungible tokens (NFTs) and the metaverse has steadily increased, as a number of celebrities and organizations have begun preparing for their transfer to these emerging financial technologies and platforms.
Marie Tatibouet, Gate.io’s chief marketing officer (CMO), talked about the future of non-fungible tokens and the expansion of the cryptocurrency industry in general during a conversation with David Lin, anchor of Kitco News at the Paris Blockchain Summit.
Notably, Tatibouet emphasized the growth of tokenized collectibles, especially in light of the fact that a huge number of new users are now entering the crypto world through NFTs rather than more established cryptocurrencies such as Bitcoin.
“A large proportion of new crypto users being onboarded with NFTs for the first time, rather than Bitcoin or Ethereum, and what we are seeing today is that KYC is no longer a significant barrier.”
When discussing Kevin O’Leary, a prominent investor on Shark Tank, who said that he thinks NFTs would eventually outperform Bitcoin in terms of market value, the Gate.io CMO agreed:
“Absolutely. I believe 100 percent because the NFT industry is so diverse, and I really believe that every piece of art, for example, will use NFTs or fractionalized NFTs. Not now, but in ten years, I’m pretty confident.
The two also talked the enthusiasm around NFTs and how some feel they have been exaggerated to the point of valuation rising prices, which might result in a price correction and perhaps even a drop in sentiment and popularity for the foreseeable future.
Tatibouet feels that there has been a lot of hype, and that things will eventually fall, “like the dotcom.com bubble,” but that adoption will finally occur.
Added she: “At the moment, NFTs are mostly collectibles, but we are progressing toward having more use cases, and if these use cases become more tangible, I believe we will see a new NFT boom.”
Finally, the CMO feels that the metaverse is quite interesting because it attracts new artists who can monetize their work without having a formal education in the arts but who can be rewarded for constructing in the area, which is rewarding.