Red color dominated the cryptocurrency market this week. However, the reflection of Mark Zuckerberg’s conversion of Facebook to Meta into the crypto world has been the explosion of metaverse coin projects. As you know, Non Fungible Tokens (NFTs) continue to maintain their popularity. While these developments are taking place in the crypto universe, Joe Lubin, co-founder of the leading altcoin Ethereum and also the founder of ConsenSys, made evaluations about the crypto money market in his interview. Joe Lubin’s comments Cryptocoin. com we have compiled for you.
How does the Ethereum founder evaluate the developments in the crypto market?
At first, Joe Lubin cites the fact that volatility in cryptocurrencies increased considerably in the last quarter of the year as the reason for the red color in the crypto market. The Ethereum co-founder states that NFTs have seen massive growth over the year, with a boom in different industries, including sports, entertainment, and the arts. Also, Joe Lubin thinks the boom in NFTs is “amazing”.
About the DeFi industry, the ConsenSys founder emphasizes that DeFi projects are starting to have a big impact across the industry and it is a big development in the crypto world. Evaluating the recent popularity of crypto and technology sectors such as Metaverse and Web3, Joe Lubin states that after giant companies such as Facebook and Microsoft became interested in the metaverse, many companies also turned to this field. Joe Lubin states that ConsenSys, of which he is the founder, also has a plan to create a consumer-oriented Metaverse powered by Blockchain. The Ethereum co-founder says the planned Metaverse will function like decentralized application protocols (dApp).