Non-Fungible Token (NFT) Collection Floor Prices Plummeted along with the cryptocurrency market in general, with data such as that offered by the blockchain analysis company Nansen which recorded that Ethereum NFT trading volume decreased by 20% in July, standing at around 449,000 ETH vs. 555,000 ETH in the previous month. However, some market players continue to believe that there is an opportunity for these digital assets.
This is the case of Fabiano Dias, a business developer at the Bitwage company, dedicated to managing salary payments in cryptocurrencies. The expert believes that NFTs are not “a fashionbut a trend that will occupy a place in the market. To exemplify this, Dias compared it to the beginnings of the internet. “When the internet hit the mainstream market in the mid-90s, it was known to be something that was here to stay, but 2 decades passed and various technologies came and went until software like Whatsapp gained popularity among all ages and walks of life. That is to say, it will become a common place, only that it is not known exactly when and with what technological support”, he explained, in dialogue with Cointelegraph.
Indeed, Dias considers that NFTs are still at an early stage, which would explain why different companies are currently betting on both NFTs and the metaverse as technologies that can boost their respective businesses. Dias, again, exemplifies it with another case of technological innovation: “The use of glasses and total immersion in a virtual environment are not yet in the mainstream. There are technological challenges until it becomes something of massive adhesion by society, even in the gaming industry the role of virtual glasses and lenses continues to be a minority”. The specialist explained thatNFTs are a tool for the authenticity of a file or digital information”, which allows them to be used “as signatures, which prove that, on a given network, that file is unique, signed by an authority on that same network. The file or information can still be copied. But, once inside that network, it will be proven that you are not the owner of the original“, developing.
However, Dias acknowledged that there is a speculation component in the case of NFTs. But, in his vision, it is something that “It is valid for all sectors of the current economy. So there are probably unsustainable prices in the NFT sector”. In addition to this, it is common to see in the traditional media various news related to the purchase and sale prices of the different NFTs. “The media does the same with all the technologies related to the cryptocurrency market. As they are ‘tokenizable’, that is, they can be converted into currencies, the variation in prices, especially the outstanding highs, ends up being the aspect that attracts the most attention because it is a promise of fast money, something that attracts a lot of interest from people”, Dias said about this. In this sense, the specialist recommends not to invest “for the interest of fast money, but for the complete learning. It is a market that has a lot to offer in terms of learning. Who wins learning never loses”, he concluded.
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