Bill Gates attacks NFTs when they’re down

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Bill Gates, the founder of Microsoft, has entered the battle between NFTs and cryptocurrencies. In this week’s TechCrunch talk, Billionaire said NFTs are “based on 100% stupid theory,” and overvalued projects and assets are worth it if enough people are convinced they’re worth something. Mentioned the financial notion of rising.

Bill Gates’ explosion in NFTs, especially in “expensive digital images of monkeys,” is due to the long-term crash of NFTs and the depreciation of cryptocurrencies. NFT artists who believe the situation is “hellishly unstable” and the artists behind GTA and the new Fear City NFT Stephen Bliss admit that they launched the project at the wrong time (yet). Sold out).

NFTs are a way to register digital art and files on the blockchain, creating rarity. For many artists, it is seen as a way to take ownership of their work, and some artists see NFT art as a way to revolutionize equality. To others, they are considered to be built on fraud and disasters for the environment, especially power-hungry tokens like Ethereum. However, some NFT ciphers such as Palm, Wax, and Solana are carbon neutral.

Bill Gates joked about the value of boring Ape Yacht Club and other NFTs and cryptocurrencies (Image credit: Yuga Labs provided by Christie’s)

Bill Gates’ opposition to NFTs and cryptocurrencies is at odds with Microsoft’s stance. Microsoft has invested in blockchain and Web3 startup ConsenSys (Opens in a new tab)A company founded in 2014 by Ethereum co-founder Joseph Lubin.

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