FTX head and crypto billionaire Sam Bankman-Fried recently discussed the institutional investment outlook, the rise of Non Fungible Tokens (NFT) and the current cryptocurrency landscape. Cryptocoin. com, we have compiled the important headlines from Sam Bankman-Fried’s speech for you.
Sam Bankman-Fried’s thoughts on Solana, NFT, corporate adoption
The famous billionaire states that Solana has a really reasonable roadmap to scale millions of transactions per second at fractions of a cent per transaction, making it one of the few public blockchains currently available.
According to Sam Bankman-Fried, the actual institutional adoption flows have not driven themselves very far, but the entries themselves have yet to materialize. On the institutional adoption of crypto, the billionaire says:
You know, for most of these places a year, sometimes multiple years, the amount of work a compliance department has to do to get to know the cryptocurrency ecosystem is quite substantial.
Sam Bankman-Fried says it’s “the kind of time we imagine transformation to take place,” and notes that the frameworks are getting a little short, both in terms of what the technology can achieve and the adoption and institutional support you can get. According to the billionaire, there is a huge amount of excitement for developing new products featuring Non Fungible Tokens (NFTs). The young manager shares the following comment for NFT projects:
The use of NFTs has exploded in the last six months, but it is still mostly driven by the crypto industry rather than newcomers.
One thing to note, the famous billionaire states, is that as long as these things are, he’s not super liquid, which means his bank account is definitely under a million. Meanwhile, the billionaire reveals that he has probably donated around $30 million this year.
Sam Bankman-Fried states that he certainly doesn’t have 100 million users, which means that when someone wants to get involved in the crypto ecosystem for the first time, especially if it’s monthly, there’s a good chance they haven’t heard of them yet. On why FTX doesn’t place ads on major platforms, he says:
Crypto companies you’ve never heard of post ads on Google or Facebook. This is not very attractive. You’re probably assuming it’s just a scam