David Pakman, CEO of the cryptocurrency company CoinFund, was one of the speakers: “You hear about the crash, about the crisis of cryptocurrencies, that everything has been a fraud, that this is nothing more than a Ponzi scheme” , said. “None of that is true, although there are bad actors in every new ecosystem. Cryptocurrencies and NFTs in particular are showing a decisive amount of activity despite falling asset prices over the past six months. We haven’t reached zero yet: it’s not over.”
Pakman showed the audience the major NFT collections and the many billions of dollars of crypto that have been invested in them. He also showed some charts that the average NFT consumer spends around $900 on an NFT. “Netflix users, on average, over the course of a year spend about $180, Spotify is less than $60, so as a consumer product we look at NFTs and that gives us hope,” Pakman said. “We are very optimistic.”
Rapper Louie C. Rhymes, who has sold numerous NFTs, said: “The ones who are panicking are those entrepreneurs who are not making a million dollars in three minutes.
The only losers in this equation were those who had bought at the top and speculated.” Matt Cheung, an entrepreneur who works with Benyamin Ahmed, the 13-year-old NFT millionaire who launched the Weird Whales collection, added: “I’m optimistic, and everyone I’ve talked to is too. I have been working in traditional financial markets since 1999; I’ve been through market crashes before.” Of course, Cheung acknowledged, investing in cryptocurrencies and NFTs is riskier than entering traditional markets, but he said that he had been careful and strategic in engaging him. Cheung said that he encourages young people to look for fast-growing sectors. He started in cryptocurrencies six years ago. “What will the world be like in 2035?” he risked. “It’s going to be all blockchain, automation. But these sectors are not eternal either: they only serve while they are in their early exponential stages.”
Source: Ambito
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