{"id":329598,"date":"2021-08-24T14:23:41","date_gmt":"2021-08-24T11:23:41","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ftxs-bankman-fried-remains-cautious-about-nascent-nft-space\/"},"modified":"2021-08-24T14:23:41","modified_gmt":"2021-08-24T11:23:41","slug":"ftxs-bankman-fried-remains-cautious-about-nascent-nft-space","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ftxs-bankman-fried-remains-cautious-about-nascent-nft-space\/","title":{"rendered":"# FTX’s Bankman-Fried remains cautious about nascent NFT space"},"content":{"rendered":"

“# FTX’s Bankman-Fried remains cautious about nascent NFT space <\/strong>”
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In an interview with CNBC\u2019s Street Signs Asia released<\/a> Tuesday, Sam Bankman-Fried expressed optimistic caution surrounding the pace of nonfungible tokens’ (NFT) growth over the last year, warning investors that they could become vulnerable to the volatile market dynamics if improperly educated in the space.<\/p>\n

The 29-year old crypto entrepreneur and founder of the trading company Alameda Research and crypto derivatives exchange FTX intimated that conversions have occurred with his own clients regarding their intent to purchase digital assets, but those same clients can become tentative when challenged on the genuine utility of their new asset.<\/p>\n

\u201cIt\u2019s almost going mainstream faster than the mainstream understands what it is they\u2019re adopting, which is a weird phenomenon,\u201d Bankman-Fried claimed.<\/p>\n

He continued, \u201cIt could lead to just incredibly fast and giant adoption. It could also lead, frankly, to sort of a sour taste in people\u2019s mouth if there\u2019s a crash, and no one ever quite figured out what it was.\u201d<\/p>\n

In such a nascent space, it is natural that the NFT market temperament is relatively unchallenged. In contrast to the cryptocurrency market, which has experienced a multitude of bullish and bearish cycles, NFTs haven\u2019t yet run the gauntlet, only experiencing the good times so to speak.<\/p>\n

At least for now, NFT sales continue to break all-time highs leading to greater conscious awareness and cultural adoption in the mainstream market. Perhaps with the simultaneous growth of decentralized finance, the market can sustain such momentum long term.<\/p>\n

Related: <\/em><\/strong>FTX buys name rights to Cal Memorial Stadium for 10 years in $17.5M deal<\/em><\/strong><\/p>\n

Only yesterday, payments processing giant Visa purchased an iconic CryptoPunk avatar for just short of 150 Ether (ETH), equivalent to $150,000.<\/p>\n

Alongside this, fellow crypto entrepreneur Jordan Fried recently announced the future launch<\/a> of NFT.com, a marketplace initiative reportedly backed by seasoned investor and Shark Tank panelist Kevin O\u2019 Leary.<\/p>\n

Bankman-Fried concluded the interview suggesting, \u201cCertainly people have made money selling them. That would be one way to get into the game<\/a> if you can understand what it is that makes them desirable.\u201d<\/p>\n