NFTs Are In A Bubble - VaynerMedia CEO Gary Vaynerchu.

NFTs Are In A Bubble - VaynerMedia CEO Gary Vaynerchu.

2021-03-16 | Selina Mathew

NFTs Are In A Bubble - VaynerMedia CEO Gary Vaynerchu.

NFTs [non-fungible tokens] are within a bubble, VaynerMedia CEO Gary Vaynerchuk revealed earlier today on Tuesday, though he doesn’t doubt the technology will have endurance. NFTs are a "replication" of the dot-com bubble, Vaynerchuk explained.
"A lot of individuals talked about the web being a fad," he added. "In reality, the web was this game-changing revolution of technology but tons of the primary projects were just overpriced on the thrill."
Explaining the upside of the technology, Vaynerchuk outlined how a book author can use NFTs to issue unique works and rewards to spice up their brand and relationships. When asked if he saw bitcoin becoming the currency of the planet, Vaynerchuk added: "I really do not know. The reason I've gone harder onto NFTs than currency is that I enjoy it more." Earlier this year, Vaynerchuk participated in a $50 Mln funding round for Sorare, a platform that offers digital soccer collectibles together with big-name teams.

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