It seems that the conversation starring NFTs has finally begun to come to an end. While in 2021 this was a very controversial topic, with various companies claiming that this would be the next big step for different industries, including video games, today we see the opposite. Thus, Bill Gatesco-founder of Microsoft, has pointed out that there is still an audience to which NFTs can be sold: the deluded.
During an event on climate change organized by TechCrunch, Bill Gates pointed out that the NFT business is based on the “biggest fool” theory. This is a financial concept where overvalued assets can make money as long as you find a bigger sucker who to sell them to.
In his talk, Gates noted that he prefers to invest in tangible projects and businesses, such as factories or farms., and mentioned that he does not have a single interest in the NFT and cryptocurrency market. In this way, the billionaire joked when mentioning:
“Obviously expensive digital images of monkeys are going to make the world a lot better.”
Bill Gates tells us what he really thinks of Bored Apes at #TCClimate: pic.twitter.com/vBc8BaaTup
— TechCrunch (@TechCrunch) June 14, 2022
This is not the first time that Bill Gates has expressed his opinions on crypto currencies, since in 2021 he criticized how volatile this market becomes. Since then, we have seen how the blockchain, cryptocurrencies and NFTs have ceased to be part of the message companies share when talking about the future. There is still a market, but it is shrinking.
On related topics, Square Enix will no longer invest in NFTs. Similarly, this market has decreased substantially.
Editor’s note:
It’s good to see the NFT market going down. Although Bill Gates is not to the liking of many, they cannot deny that at least the billionaire knows that this market is almost a scam for the common consumer.
Via: TechCrunch