Categories: Ethereum

Coinbase co-founder Fred Ehrsam: “90% of NFTs will be worthless in 3 to 5 years”

Indivisible tokens, or NFTs, have taken both the crypto market and the art world by storm. However, the extremely volatile trading activity of this sector suggests that it is too early to predict the future. But according to one of the “banyan trees” of the cryptocurrency market, most current NFTs will be worthless in a few years.

Coinbase co-founder Fred Ehrsam: “90% of NFTs will be worthless in 3 to 5 years”

In a recent Bloomberg TV interview, Coinbase co-founder Fred Ehrsam pointed out similarities between the rise of the cryptocurrency and the dotcom boom of the 1990s: “I assume that 90% of the NFTs created today are likely to be in 3-5 will be worthless ”years. “The same could be said about the first internet companies at the end of the 90s.”

For him, NFT is no different from any other crypto project that grew out of an overnight hype.

“People will try anything. There will be millions of cryptocurrencies and digital assets just like there are millions and millions of websites. Most of them won’t work, ”explains Ehrsam.

Ehrsam started Bitcoin around 2010 while working as a Forex trader at Goldman Sachs. He left investment banking to co-found the cryptocurrency exchange Coinbase with Brian Armstrong in 2012. Ehrsam separated from Armstrong in 2017 and founded Paradigm, a blockchain investment firm, in 2018.

“The world doesn’t change overnight, but you can see the seeds of growth appear exponentially,” he said in an interview with Bloomberg. “I think we will live in a very interactive future, today we don’t need these centralized platforms. That was true of financial services, where you can be your own bank. You no longer need a centralized organization to hold your money. “

Synthetic TinTucBitcoin

You may be interested in:

TinTucBitcoin.com

Source: Coin 68

Coincu

Recent Posts

Best Coins to Buy Now: Qubetics Sells 200M Tokens to Raise Over $2.7M as Cardano and Avalanche Look to Strengthen Bullish Trend

Best Coins to Buy Now: Qubetics presale raises $2.7M with 200M tokens sold as Cardano…

6 minutes ago

Pepeto’s $600K Presale Highlights Vision for Supporting Memecoins Ahead of 2025

London, united kingdom, 22nd November 2024, Chainwire

2 hours ago

Robinhood Exec Dan Gallagher Declines SEC Leadership Role

Robinhood Exec Dan Gallagher declined consideration to lead the SEC, affirming his commitment to Robinhood…

3 hours ago

Best Cryptos to Buy in November 2024: What Sets Qubetics Apart from Fantom and Immutable X?

Discover why Qubetics, Fantom, and Immutable X are the best cryptos to buy in November…

3 hours ago

Franklin Templeton Digital Assets and Sui Now Join Hands to Strengthen DeFi Strategy

Sui Foundation partners with Franklin Templeton Digital Assets to enhance DeFi solutions on the blockchain.

4 hours ago

Get Insights on BlockDAG’s $136M Presale Success Revealed in Recent AMA—BTC Soars to $99K, Avalanche Trading Volume Surges

See how Bitcoin confronts $99K resistance, Avalanche enjoys a 23% rise, & BDAG achieves a…

4 hours ago

This website uses cookies.