A thriving crypto industry could become mainstream in crypto markets, according to Sam Bankman-Fried of FTX. According to Sam Bankman-Fried, CEO of global cryptocurrency exchange FTX, the rapidly growing non-tradable tokens (NFT) sector has the potential to drive wider acceptance of cryptos as a form of altcoins. Detail Cryptocoin. com
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NFTs can stand out in altcoin markets
The head of FTX said that the ability of NFTs to trigger “mass adoption” of crypto assets has greatly increased over the past 12 months. Analyst: “A year ago I would have given this a very low probability. Now I give that a good probability…But now I would put NFTs in the top category for the probability (along with a few other things) of bringing a non-crypto audience to crypto for something other than financial investment. ”
According to Bankman-Fried, the effectiveness of NFTs, which stand out with their innovative nature, is growing rapidly. Analyst: “Whether it’s integrated with video games or through venues, events or teams, I think we’re seeing really active movements on those fronts, you know. [NFTs] make a lot of sense as a product. And it’s a pretty clean layer of innovation to add to existing structures,” he says. The analyst also says that the path to tokenization of traditional securities such as stocks in the US will be determined by the SEC. However, who will do the tokenization and how is important, according to the analyst:
You know, the biggest question I’m going to ask is who is going to list this product [tokenized traditional securities]. Looking for an FTX or Coinbase listing? Looking for the New York Stock Exchange listing? Looking for a third type of platform listing? Will Robinhood be able to do it? Honestly, that’s the big question – what license is needed to offer such a product? Will it be offered on crypto or traditional exchange? And I don’t know what’s going to happen there, but it’s going to be a discussion with the SEC.
