Nassim Taleb: NFT Market Set to Burst as Fed Raises Interest Rates

The philosopher and author of the cult classic The Black Swan, Nassim Taleb, said that the market for non-fungible tokens would burst amid the tightening of ФРС monetary policy.

The NFT thingy is starting to burst. All you need is higher interest rates for things that make no sense to start making no sense.

“Jack Dorsey Tweet NFT Once Sold for $2.9 Mil, Now Might Fetch Under $14K”.

— Nassim Nicholas Taleb (@nntaleb) April 16, 2022

«NFT 开始 лопаться. Все, что нужно для потери смысла бессмысленными вещами, — более высокие процентные ставки», — написал Талеб. 

Он также указал на тот факт, что NFT первого твита Джека Дорси, который в марте 2021 года учредитель Bridge Oracle Сина Эстати купил за $2,91 млн, начал терять свою ценность.

В апреле 2022 года Эстати разместил токен на платформе OpenSea. Он намеревался продать его за 14 969 ETH (~$48,3 млн по курсу на тот момент), однако безуспешно. Аукцион закончился 13 апреля. Максимальная ставка за NFT составляет 10 ETH ($30 399).

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‌‌https://t.co/cnv5rtAEBQ pic.twitter.com/f2I4LKcCyV

— Estavi (@sinaEstavi) April 17, 2022

In response to Taleb’s assertion, blogger Matin Soudagar emphasised that these conclusions «based on headlines» and are not backed by real facts.

The fundamental problem with takes based off headlines is you have 0 perspective on NFT history.

— Been a thing since ~2014

— Thrived during crypto bear market, (2018-2020),

— Thrived during pandemic

— Thrived during crypto turbulence

More to this than Jacks tweet listing.

— Matty (@DCLBlogger) April 16, 2022

«The fundamental problem with takes based on headlines is that you have no perspective on NFT history. The sector has existed since 2014, it thrived during the bear market (2018-2020), thrived during the pandemic, thrived during turbulence in the industry. This is more than Jack’s tweet», — wrote Soudagar.

Earlier Taleb criticised Bitcoin and called it «the perfect game for losers» in a low-interest-rate environment.

Earlier, Amazon CEO Andy Jassy left open the possibility of selling NFTs on the company’s platform in the future.