L’Atelier BNP Paribas CEO John Egan believes it is safer to invest in Ether today than in Collectible Tokens (NFT).
Recently, the NFT industry has been rapidly gaining momentum – non-replaceable tokens have started to be in high demand among music artists, artists and various celebrities. The Ethereum infrastructure was used to create these tokens.
Egan said that compared to NFTs, which have become very popular lately and “are being created at every turn,” Ether is more credible as the Ethereum blockchain lays the foundation for the creation of these tokens. The L’Atelier executive also compared the NFT purchase to gambling.
“People can buy NFT for their own pleasure or for experience. But it is not known whether these costs will be justified. If you have a good investment in any NFT, consider yourself lucky, ”Egan said.
He acknowledged that collectible tokens began to develop rapidly, but this is precisely what poses a serious risk for investors. According to Egan, the vast majority of the available NFTs have no real value and are created amid hype. Egan even compared the NFT industry to the “ICO boom” in 2017.
But this does not mean that collectible tokens lack potential. The CEO of L’Atelier believes that as the NFT industry matures, such tokens could become the backbone of the economic infrastructure in the virtual economy in the next decade.
Ethereum co-founder Vitalik Buterin recently expressed his opinion about NFT. He is convinced that non-exchangeable tokens should solve social problems, and “not replenish the wallets of already rich celebrities.”
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