CEO MEW: NFT tidak akan pergi, tapi hype akan segera mereda

NFTs have become a trend. Whether you like it or not, today most of the popular performers, artists and just creators are selling their work with might and main in the vastness of virtual cryptocurrency auctions. Some of the works are eventually purchased for tens of millions of dollars. The CEO of MyEtherWallet has his own opinion on this matter.

Kosala Hemachandra is convinced that the concept of non-fungible tokens will not disappear over time, although her hype will certainly fade away. He compared the new trend to the hype that took place in 2017 around ERC-20 tokens. Then literally every day dozens of news about the next successful project surfaced. Now such coins are not something out of the ordinary, and people use them every day.

All NFTs have unique characteristics. These differences between them ultimately directly affect the value of tokens, and sometimes their benefits within the ecosystem, even if they all look the same in the eyes of consumers. Hemachandra added that the value of NFTs, one way or another, lies in how much a particular person is interested in them and how much they are willing to shell out.

He also clarified that if someone is very interested in a certain NFT sold this year, then they will surely pay any money for the right to own the same NFT in 2030. This is why crypto kitties are still of value to many collectors. Their boom, of course, remained in 2017, though.

So far, according to Kosal, the NFT concept will develop according to a scenario identical to the development of ICO four years ago. For 6-9 months, more and more cynical, strange and expensive purchases will appear one after another, after which there will be a long-term collapse. He also wrote about this on his Twitter account.

Despite such a sad forecast, Hemachandra still sees great potential in this niche, although he does not consider the excitement in it to be justified. Because NFT is interesting to people not as a technology, but as a status thing.

In fact, NFT can find its application in things like real estate and proof of ownership of tangible property, helping to improve the legal relationship between buyer and seller.

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