Bitcoin will fade in front of NFT, you should also read the statement of this veteran

Kevin O’Leary, who is known as the Shark Tank investor, believes that the time to come is not of Bitcoin, but of NFTs (Non-Fungible Tokens). O’Leary, president of O’Shares Investment Advisors, said in an interview that the NFT trend will support the fluid market compared to real estate taxes and insurance policies for the next few years. This is in contrast to Kevin’s own comments, where he previously stated that no crypto asset can stand against Bitcoin.

O’Leary with CNBC Interview “You will see a boom in the next few years in terms of online functions such as authentication, insurance policies and real estate tax transfers, which could make NFTs a more liquid market than bitcoin.” He further added that he is “investing on both sides of this equation.”

O’Leary also said that he personally invests in cryptocurrencies as well. He has revealed that the bulk of his crypto portfolio is in Ether, while he also holds other tokens such as Bitcoin, Solana and Polygon.

Not many people had heard of NFTs in 2020, but it has become a trend in 2021. According to a report by Decentralized Application (DAP) discovery and analysis platform DappRadar, NFT trading volume for the year 2021 crossed $23 billion (approximately Rs 1,71,297 crore) as celebrities, gaming teams and big brands entered the market. logging in. Markets such as OpenSea, Atomic Market and Solanart are among the most popular dApps.

The DappRadar report shows that the sales of NFTs grew 230 times in 2021 as compared to the figures of 2020, which were earlier only $100 million (approximately Rs 744.94 crore).

However, there are also concerns about the stability of the market. There is also fraud in this market. In recent months, some investors have been fooled by betting on startups through unregulated token sales. There have also been many cases of fraud and theft of art, which are alarm bells for some traders.