Why Kevin O’Leary thinks NFT may become bigger than Bitcoin

Millionaire investor and cryptocurrency supporter Kevin O’Leary believes that the value of the NFT industry may exceed Bitcoin in the future.

In an interview with CNBC’s Capital Connection on January 5, O’Leary—also known as Mr. Wonderful— debate NFTs offer greater potential to attract capital than Bitcoin because they Tokenization capability And verify tangible assets, such as cars, watches, and real estate:

“In the next few years, you will see a lot of changes in identity verification and insurance policies and real estate transfer taxes, making NFT a larger and more liquid potential market than just Bitcoin. “

However, Mr. Wonderful admitted that he has nothing to do with that bet and will still invest in “both sides of the equation.”

The former cryptocurrency skeptic told Cointelegraph in an interview Recent interview his Tone change Blockchain and digital assets are growing due to the rising trend of global regulators in the past few years.

However, not everyone agrees with the comparison between Bitcoin and NFT. Coingecko digital marketing assistant Khai Ren Kuan told Cointelegraph, “It may be unfair to compare Bitcoin as a single asset with the NFT as a whole industry.”

However, Guan did point out that as the industry is still in its early stages, the NFT adoption curve in 2022 will only increase upwards:

“I think if you look at all NFTs, and 2021 is the first year of market adoption, then there must be a lot of room for growth.”

“We already have a set of’blue chip’ NFTs, but I think the industry is still only scratching the surface of what NFTs might be and what they can do, especially if Metaverse is implemented,” he added.

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Coingecko recently Publish A new book called “How to NFT” provides an overview of how to buy, sell, store, and mint NFTs for newcomers entering the field of non-tampering. When asked whether he believes that “NFT art narratives” will continue to dominate in 2022, or whether the trend will shift to utility-based NFTs, Guan said:

“Art and collectibles are always at the forefront because they are the most beginner friendly and the easiest to understand. As far as practical NFTs are concerned, I think it may be worth paying attention to how some NFTs will become both art and useful.”

“We have seen BAYC, NFT double the membership of their’club’, which really helps to build a sense of identity and community,” he added.