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FTX CEO Sam Bankman-Fried expects NFTs to expand even further in the content and video game markets in 2022.
The CEO of cryptocurrency exchange FTX, Sam Bankman-Fried, said that the role of NFT as a virtual accompaniment to various products, games and other things will increase.
“NFT will not be so much a standalone product as it will integrate with many other products. I guess we will see many developers start integrating NFT into their video games. “
He draws out the fact that NFTs already represent a digital image of a film or musical composition. Freed believes that any product can be digitally represented using NFT. The FTX chief predicts a further increase in institutional adoption of cryptocurrencies.
“You will likely see a lot of development in banking services for centralized exchanges and a continuous improvement in the user experience for them. As early as next year, even more companies will begin to conduct operations through centralized sites. “
He noted that operations on DeFi platforms pose great risks for institutional inverters, for them to come to these sites, they need to be adapted for large companies in terms of safety and regulation. In his opinion, large businesses need to understand how to interact with decentralized protocols in terms of storing and clearing cryptocurrencies. This will take them a long time.
Bankman-Freed foresees an increase in the consolidation of the cryptocurrency business in 2022. He believes that companies are beginning to consolidate around the crypto industry, offering a variety of products and services necessary for the development of the industry.
“Overall, I assume that the crypto industry will grow considerably and we will be able to see some consolidation of companies. Small organizations offering exchanges, wallets, payment systems, or other products will start to merge.
According to the FTX chief, more and more elements are required for a fully functioning global cryptocurrency ecosystem, so they are starting to come together.
Bloomberg’s senior commodity strategist Mike McGlone believes that massive adoption of cryptocurrencies will begin in the United States as early as 2022, with the necessary regulation and subsequent market growth. Former CEO of Bitmex Exchange Arthur Hayes predicts a bearish cryptocurrency market in 2022 and urges investors to consider the prospects for NFT and the metaverse.
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