Irreplaceable tokens are ten times better than their physical counterparts, according to digital art collector MetaKovan.
The pseudo-filanthropist, recently known as blockchain entrepreneur Wingaresh Sundaresan, has bought NFT from Beeple EVERYDAYS : The first 5000 days for $69 million earlier this year.
In an exclusive interview with Cointelegraph, MetaKovan explained his motivation for the purchase, noting that NFTs have several advantages over traditional artwork: They are easily transferable, there are no storage fees and ownership can be shared. They can also democratize the art world by making it more accessible to digital artists from all over the world, regardless of their nationality or social background.
MetaKovan even said NFT would bring crypto into the mainstream.
Many people are getting acquainted with NFT cryptography, he explained.
The art historian dismissed concerns about the possibility of a speculative bubble in the NMT market. He believes the excitement around the NFT is to accelerate deployment.
If there are assumptions, it’s because we do things quickly, he said.
According to MetaKovan, the NFT market will eventually impact the prices of major cryptocurrencies like Bitcoin and Ethereum.
That could be the case in a year or two, when many more people are using NMT, MetaKovan said.
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