Opinion: Ethereum investments are safer than NFT purchases.

John Igan, CEO of L’Atelier BNP Paribas, the French financial conglomerate’s subsidiary, told BNN Bloomberg that investing in Ethereum is safer than investing in non-fungible tokens (NFTs).

His view rests on the fact that the second-largest cryptocurrency by market capitalization provides the infrastructure for NFTs.

Igan likened purchasing non-fungible tokens to gambling and other forms of betting.

“You know you’ll spend money, but you may be doing it for pleasure and experience. If you win, you’re lucky,” added the CEO of L’Atelier BNP Paribas.

According to Igan, the rise of interest in NFTs resembles the ICO mania of 2017. He noted that most non-fungible tokens are simply hype and do not represent real value.

“That doesn’t mean NFTs are worthless. Non-fungible tokens have exceptional value because the infrastructure is designed for the long term,” explained Igan.

The head of L’Atelier BNP Paribas described NFTs as an evolving asset class with a higher risk profile.

According to his projections, non-fungible tokens will become the foundation of virtual economic infrastructure over the next decade.

In February, billionaire Mark Cuban said that NFTs have enormous potential for the next decade.

Litecoin founder Charlie Lee predicted a crash of non-fungible tokens and compared NFT popularity to the ICO mania of 2017 and the altcoin boom of 2013.

Beeple, who sold an NFT for $69.3m, called the NFT market a bubble and compared it with the dot-com boom of the early 2000s.

Ethereum co-founder Vitalik Buterin saw the potential of NFTs to become a public good.

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