881: Freestyle Friday | The Future of Crypto and NFTs
In this episode, we feature clips from my conversation with crypto expert Dan Fleyshman on the future outlook for cryptocurrencies such as Bitcoin and digital assets like NFTs (non-fungible tokens). As these alternative digital assets continue to evolve, it's valuable to gain perspective on where they might be headed in 2023 and beyond.
In this episode:
- The hype around random NFT art is fading, but NFTs still have practical utility for brands and companies. Major corporations like Starbucks and Ferrari are embracing them.
- The importance of NFTs providing real-world utility beyond just digital art. NFTs with practical applications will have more longevity.
- While many cryptocurrencies exist, Bitcoin and Ethereum appear here to stay due to their functionality and adoption.
- The reason behind Bitcoin's limited supply driving up demand. As more entities acquire Bitcoin, supply shrinks, making Bitcoin potentially more scarce and valuable long-term.
- How Bitcoin's volatility makes it higher risk short-term but lower risk long-term due to its track record and inevitability. Time in the market is more important than timing the market.
- The truth about the proliferation of cryptocurrencies. While many exist, only a small percentage have real-world utility and will thrive. The focus should be on cryptocurrencies solving real problems.
This episode provides a balanced look at the realities and potential behind cryptocurrency and NFTs. While the future is uncertain, these insights can guide us toward more informed decisions in this evolving landscape.
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