{"id":463294,"date":"2022-06-15T16:12:52","date_gmt":"2022-06-15T13:12:52","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/a-fools-game-bill-gates-criticizes-the-intangible-value-of-nfts\/"},"modified":"2022-06-15T16:12:52","modified_gmt":"2022-06-15T13:12:52","slug":"a-fools-game-bill-gates-criticizes-the-intangible-value-of-nfts","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/a-fools-game-bill-gates-criticizes-the-intangible-value-of-nfts\/","title":{"rendered":"# A Fool&#8217;s Game: Bill Gates criticizes the intangible value of NFTs"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a413b9719ad8\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a413b9719ad8\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/a-fools-game-bill-gates-criticizes-the-intangible-value-of-nfts\/#%E2%80%9D_A_Fools_Game_Bill_Gates_criticizes_the_intangible_value_of_NFTs_%E2%80%9C\" >&#8221; A Fool&#8217;s Game: Bill Gates criticizes the intangible value of NFTs &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_A_Fools_Game_Bill_Gates_criticizes_the_intangible_value_of_NFTs_%E2%80%9C\"><\/span>&#8221; A Fool&#8217;s Game: Bill Gates criticizes the intangible value of NFTs &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvMWUxMjQwMGMtMmNiOS00NzFlLWI0MTUtNjc1ZDllMzRkYWRkLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Tech billionaire, and currently the world\u2019s fourth-richest person, Bill Gates, spoke at the TechCrunch Climate Change conference Tuesday about the progress society has made in supporting the climate movement, his assessment of current global economics, alongside his skepticism of nonfungible tokens (NFTs).\u00a0<\/p>\n<p>The NFT market has closely correlated the tumultuous financial decline of cryptocurrencies over the past few months, as previously sought-after collections resort in the vicinity of 60%\u201380% reductions in value. As a result, cynical attitudes have emerged to dominate the industry narrative.<\/p>\n<p>In his interview, Gates singled out the market&#8217;s most popular collection, Bored Ape Yacht Club, sarcastically stating, \u201cObviously, expensive digital images of monkeys are going to improve the world immensely,\u201d adding, \u201cWe all agree on that.\u201d\u00a0<\/p>\n<blockquote><p>\u201cI\u2019m used to asset classes where like a farm they have output, or a company where they make products. Having an asset class that\u2019s 100% based on [\u2026] greater fool theory that somebody is going to pay more [for] [&#8230;] it than I do \u2014 and where it has at its heart this sort of anonymity that you avoid taxation or any sort of government rules about kidn<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ing fees or things [&#8230;] I\u2019m not involved in that. I\u2019m not long or short, or any of those things.\u201d\u00a0<\/p><\/blockquote>\n<p>In financial terms, the greater fool theory refers to the inflated valuation of assets \u2014 whether that be stocks, real estate or indeed NFTs \u2014 distributed between the hands of foolish willing participants.\u00a0<\/p>\n<p>Microsoft&#8217;s inaugural affiliation with NFTs came while Gates occupied a seat on the board in December 2019 with the launch of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.microsoft.com\/skills\/azureheroes\">Azure Heroes<\/a>, an Ethereum-based digital collectible on the Azure cloud platform designed to promote and reward inclusive behaviors between developers.\u00a0<\/p>\n<p>The beaver avatars ascend in rarity level determined by the difficulty of attainment, with the learner being the entry-level asset, and the prized possessions being the Mentor and Maker Badgers.\u00a0<\/p>\n<p>Just over two years later, Microsoft released \u201cAzure Space Mystery\u201d a digital <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> in partnership with Enjin and interoperable with Minecraft that educates players on prominent female scientists throughout history.\u00a0<\/p>\n<p><strong><em>Related: Xbox head Phil Spencer is skeptical about NFTs in video games<\/em><\/strong><\/p>\n<p>As for Gates, he has consistently advocated for cryptocurrency investors to adopt cautious discretion when investing in the market, most recently in February declaring that &#8220;I do think people get drawn into these manias who may not have as much money to spare,&#8221; and that &#8220;I\u2019m not bullish on Bitcoin&#8221;.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"nifty_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/a-fool-s-game-bill-gates-criticizes-the-intangible-value-of-nfts\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; A Fool&#8217;s Game: Bill Gates criticizes the intangible value of NFTs &#8220; Tech billionaire, and currently the world\u2019s fourth-richest person, Bill Gates, spoke at the TechCrunch Climate Change conference Tuesday about the progress society has made in supporting the climate movement, his assessment of current global economics, alongside his skepticism of nonfungible tokens (NFTs).\u00a0&#8230;<\/p>\n","protected":false},"author":1,"featured_media":463295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvMWUxMjQwMGMtMmNiOS00NzFlLWI0MTUtNjc1ZDllMzRkYWRkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[95118,74355,70285,70286],"class_list":["post-463294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-nft","tag-adoption","tag-bill-gates","tag-microsoft"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/463294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=463294"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/463294\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/463295"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=463294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=463294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=463294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}