The Tether co-founder Quigley William said that there’s money in NFTs for Metaverse and there’s still a lot of room to grow despite the 2021 success as we are reading more in our latest Tether news.
The Tether co-founder Quigley William thinks that non-fungible tokens accessible in metaverse will hit an annual sale level of above $10 trillion and he even shared his thoughts about NFTs and the metaverse in an interview a week ago. When asked about the surging NFT field of 2021, Quigly said that these eyes are set on the mass market possibilities of the non-fungible blockchain technology:
“From a consumer-product standpoint, what’s interesting to me is not one NFT selling for $1 million, but a million NFTs being sold at $1 each. A brand-new business for digital collectibles. That seems to me to have longer legs and overall a bigger market.”
Quigley has plenty of experience with NFT himself and in addition to starting Tether, he even started Worldwide Asset eXchange as a proof of stake blockchain specializing in non-fungible tokens among other areas of development. He believes that the annual revenue from sales of NFTs are accessible in metaverses and will be worth at least $10 trillion which said that he expects the market to be orders of magnitude and much bigger than the current landscape for the virtual items in video games:
“In video gaming the revenue model now is virtual items, and that’s a $175 billion business annually. I think the metaverse should be orders of magnitude more than that because it’s everything, it’s not just gaming.”
Think of the metaverse as a mesh of intelligibly networked virtual environments and enhancements to real-world spaces via the Internet of Things and augmented reality. Facebook is creating a native metaverse integrated with some other products where the co-workers who live in different time zones could even use virtual reality to attend meetings and to sit across from each other in the virtual city. In the meantime, Apple set its eyes on augmented reality as its CEO Tim cook boosted the technology and its many possibilities saying that it is an opportunity worth as much as the computer company iPhone. The metaverse of digital capability spilling into the reality and drawing in the virtual space will not be a blend user environment with the capabilities and apps of the standard. Quigley said:
“When it happens, it really is hard to imagine and hard to overstate the impact. I’m betting that the revenue model for the metaverse is going to be NFTs.”
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