Avichal Garg, the CEO and co-founder of Electric Capital, describes himself as “an NFT maximalist” – who believes that nonfungible tokens (NFTs) will play a vital role in bringing crypto to the masses. Unlike other crypto niches, NFTs relate to aspects of everyday life, such as art, music, and games.
“I can imagine that NFTs are actually many billions of people, because ultimately it is culture. And that’s something that everyone can participate in and that everyone can understand,” Garg said in an exclusive interview with UKTN.
Garg is especially optimistic about the use of NFTs in the gaming industry, which he sees growing at an exponential rate.
“In 18-24 months, I think we’re going to see this onslaught of (NFT-based) games,” he said.
Garg believes the bear market can continue as long as the macro picture is dominated by high inflation, meaning it could be another year or two before we see the next bull cycle. But looking beyond the current macroeconomic picture, over a 10-year time horizon, he feels extremely optimistic about the crypto industry.
“Interest rates and inflation dominate in the short term when you talk about a time horizon of 2-3 years. But innovation dominates in the long term,” he emphasized.
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