CEO of Real Vision Predicts Growth for Top-Level NFTs During Crypto Boom Cycles
Non-fungible tokens (NFTs) have now become a household name in the crypto space. Many individuals and businesses currently own and use NFTs to market their businesses and as investment products.
While the tokens mainly serve as proof of ownership, their applications may increase. Moreover, the CEO of Real Vision claims that NFTs will experience more significant growth during crypto boom cycles.
NFTs may outperform Ether in the future
Co-founder and CEO of Real Vision, Raoul Pal, sees an impressive future performance for non-fungible tokens (NFT). Pal posted his opinions and ideas about NFTs in a YouTube video.
The CEO discussed that the performance of NFTs would be the same as that of high-end real estate within the traditional economy. He stated that both the applications and actions of the tokens will rise during the boom cycles of the crypto market and may even surpass Ethers.
The former JPMorgan CEO highlighted the strength of NFTs as the underlying technology in development, the primary use cases and its performance compared to Ether.
According to Pal, NFTs form a path to own property within the ETH economy. It doesn’t matter if the investors are in New York, London, Hong Kong or elsewhere. He stated that people will always go for the high-end property as they earn more money through a positive economic turnaround.
CEO Pal further noted that some of the essential NFT collections are making waves in the crypto community. These include gatherings such as Bored Ape Yacht Club (BAYC), CryptoPunks and others.
Pal said having such collections is similar to owning a luxury car, a house or other items from famous or popular brands. In most cases, owners enjoy exclusive rights, such as membership in exclusive clubs or what can be seen as mini-network platforms.
Applications and purposes
CEO Pal took a trip down memory lane as he recalled how he developed more interest in NFTs in 2022. He explained that he studied NFTs, gradually discovering what they are, their operations and the power of their functions. Eventually, he understood that tokens could transfer value through automated smart contracts and blockchains.
Furthermore, Pal cited that NFTs are used in the settlement of contracts. He noted that such applications remove interference from third parties such as accountants, lawyers, courts and notaries. He highlighted that the blockchain technology used in the development of NFTs offers verifiable deal transparency once all necessary operations are entered.
Also, CEO Pal revealed that while he joined the NFT train, he has increased his ownership over time. He revealed that he has mapped nearly 10% of his ETH holdings to NFT pools like BAYC and CryptoPunks.
Featured image from Pixabay, chart from TradingView.com
