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Griffin Coсk Foster: NFTs are the ground floor of the coming metaverse

Sun 26 Dec 2021 ▪ 22h27 ▪ 3 min read — by James Taylor

Despite the NFT market surging in popularity this year, many still don’t have much faith in this sector, saying it’s all an economic bubble destined to burst and fall into oblivion. 

Nifty Gateway creator foresees a glittering future for NFTs

Of course, the representatives of the NFT market fundamentally disagree with these naysayers. For instance, one of the founders of the well-known Nifty Gateway exchange – a company known for selling works from the likes of Beeple and Grimes, believes that at the moment the NFT market is just at the initial stage of its development.

He noted that at the moment, the NFT market has just begun to gain popularity and that “the long-term picture for NFTs is really, really strong”. According to Nifty Gateway creator Griffin Cock Foster, in ten years’ time, the NFT market will be “much, much larger than it is today”.

Griffin himself has always believed in the success of the NFT market. Having launched his NFT platform together with his twin brother three years ago, when no one knew what NFTs were yet, today he’s reaping the fruits of his commitment and observing the formation of a new sector in the cryptocurrency industry.

At the same time, Nifty Gateway founder didn’t expect such a rapid surge in NFT popularity across the globe. At some point, celebrities, athletes, and brands alike whipped themselves into a frenzy over the digital works of art on the blockchain.

“We were very surprised by how quickly NFTs grew and how quickly they’ve managed to capture the imagination of the world and of culture,” Griffin Cock Foster said.

Nifty Gateway founder says sceptics will change their minds about the NFT market

In addition, Foster stated that the sceptics who now “right-click” to download NFT images for free will eventually come around to using this technology anyway, just like the sceptics who criticized the Internet did. Griffin believes that once all non-fungible tokens’ benefits become clear, more people will jump on board.  

Finally, Griffin noted that NFTs are likely to become the foundation of many other new decentralised technologies, such as the metaverse. In fact, drawing public attention to this concept by rebranding Facebook only makes the advantages of NFTs more obvious, since this technology “plays a foundational role” for the metaverse.

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James Taylor avatar
James Taylor

Trends are temporary. The blockchain isn’t a trend; it’s the future. I want to help as many people as possible understand it in a simple, clear and interesting way.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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