William Quigley, a cryptocurrency pioneer, envisions the metaverse as a massive economic force that will transform people’s lives.
William Quigley, co-founder of the stablecoin “Tether” and a pioneer in the cryptocurrency industry, envisions the metaverse as a massive economic force that will dramatically alter people’s lives in the coming years.
Mr Quigley is a co-founder of WAX, a carbon-neutral proof-of-stake blockchain focused on non-fungible tokens (NFTs) and video games.
As blockchain technology advances, the metaverse, a concept of an internet-enabled virtual world where people have avatars and interact with digital assets and even physical items via augmented reality, is rapidly growing.
In an interview with Bloomberg News, Mr Quigley discussed NFTs, the metaverse, and other topics. The length and clarity of the responses have been altered.
What are your thoughts on the rise of NFTs?
The value of Ethereum, which was under $100 in March 2020, drives the entire market. It’s now $3,500.
It’s as if everyone had just received their annual pay, had it in their pocket, and had just arrived in Vegas. They’re going to throw away some cash. Don’t be deceived, though.
This isn’t a widespread phenomenon. I doubt there are many traditional art collectors who have abandoned Rembrandt in favour of Crypto Punk. I believe it is primarily crypto-rich.
What interests me from the standpoint of a consumer product is not one NFT selling for $1 million, but a million NFTs selling for $1 each. A brand-new digital collectibles company. That appears to have more legs and a larger market to me.
Afterwards, he retweeted a tweet in which Join Royal and bloomberg paticipated to talk about Nfts and musicians.
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