Ex-Goldman Sachs executive Raoul Pal says the non-fungible token (NFT) sector is still relevant and due for a major revival.
In a post on social media platform X, Pal say NFT technology is “profound” and he sees the crypto sector making a comeback in many forms.
“NFTs are not dead. The technology is profound. They will return in a variety of formats, with art being the first true PMF (product market fit), but many more will follow. For example, an over-the-counter derivative or private loan are perfect use cases for NFTs, as are tickets, to name just a few examples.”
Pal goes on to say that crypto and artificial intelligence (AI) are coming together to transform the world. According to the investor, the first step of the process has already been initiated.
“Also, we all knew that AI and crypto would meet to create a different world.
The first phase of that is now underway in the crypto casino and is being put to the test in a pretty rough basic format, but make no mistake: AI agents will use token incentives for each other and humans, and agents will use tokens for payments for computer use. costs [and] gain.”
Real Vision CEO says NFTs, decentralized finance (DeFi) and initial coin offerings (ICOs) are like “early-stage use cases of a massive social and [economic] shift,” predicting that crypto market capitalization will rapidly increase by 3,900% in about a decade.
“The one truth in all of this is that blockchain technology is the main beneficiary and because of the powerful behavioral incentives of tokens, the numbers will continue to rise over time. Currently we have a $2.5 trillion economy in crypto land and I think this will go to $100 trillion in the next decade.
That trend will create the largest and fastest accumulation of new wealth in all of human history. This is THE big game. You probably only have about six years before everything changes. Don’t screw this up.”
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Generated image: Midjourney