FTX chief expresses cautious optimism on NFT prospects

FTX CEO Sam Bankman-Fried, in an interview CNBC, expressed optimism and caution about the prospects for the development of non-fungible tokens (NFTs).

He warned investors about potential market volatility given insufficient awareness in the industry. According to Bankman-Fried, NFT adoption is outpacing other segments of the cryptocurrency market.

“This could lead to incredibly rapid and widespread adoption. Frankly, it could also lead to unpleasant consequences in the event of a crash,” said the head of FTX.

Bankman-Fried added that people earned a lot of money selling NFTs, because it was “one of the ways to get into the game”.

In the first half of 2021, NFT sales volume reached $2.5 billion.

In late July, Galaxy Digital founder Mike Novogratz predicted the development of the NFT market over the next decade and called the technology “expensive for the future”.

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