2 November 2024
NFT is the new ‘Gateway to Crypto’
NFT’s are gaining much traction in the crypto industry. During a live session on audio, social media platform Clubhouse, Teck Chia of Binance X suggests that the mainstream attention being directed towards NFTs right now should lead more people into the crypto space.
“I’m seeing people who don’t know anything about crypto adopt or try to buy an NFT first.” “So it’s kind of like a gateway to crypto,” Chia claims.
NFTs or non-fungible tokens are unique digital tokens based on the Ethereum blockchain. These tokens can represent anything on the internet; currently, they’ve become more popular in the art and music world.
Also, the NFT industry has gained a recent boom of varied art collections like Hashmasks being sold for millions of dollars. Acclaimed musician- 3LAU sold his album as a collection of NFTs. This week, Beeple- a renowned digital artist, also made history by selling an NFT collection for $70 million. This artwork is the third-most-expensive artwork sold by a living artist.
“I won’t comment on Binance specifically, but I think in general, for sure,” Chia replied to the question raised by Decrypt Editor in Chief- Dan Roberts about whether crypto exchanges like Binance will list NFTs. “I totally expect an exchange to get skin in the game,” Chia added.
David Princay- Another Binance executive on the Clubhouse call didn’t comment directly about Binance but said the area of NFTs was “of interest” for exchanges.
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