Opinion: NFT will be widely adopted in the future

Investor Bill Tai believes that in the future, securities will be transformed into NFTs. According to him, in the future it will be possible to convert property rights to real estate and land, various art objects, etc. into non-fungible tokens. Also, NFT owners will be able to sell tokens on the Internet.

“This is the most efficient way to transfer ownership of any asset,” Tai said.

The expert has no doubts about his own forecast. The only question is when the mass introduction of NFT will take place.

Popular streamer Mason “Mason” Venne is of the opposite opinion. He stated that those who acquire non-fungible tokens are “mentally retarded”.

“If you buy NFTs and think you can cash in on someone else’s stupidity, you’re mentally retarded. If you sincerely believe that NFT is a good form of cryptocurrency, you are mentally retarded,” Mason said during a recent stream.

Yesterday it became known that the Chinese authorities intend to create an internal market for non-fungible tokens, which will not be associated with digital currencies. The initiative is planned to be implemented by the Blockchain Services Network, which this month will demonstrate the infrastructure for creating NFTs.

“NFTs have no legal issues in China, but they should distance themselves from cryptocurrencies like Bitcoin,” said He Yifan, chief executive of Red Date Technology, which provides technical support to BSN.

BSN intends to launch a digital service, on the basis of which it will be possible to create tokens and applications for working with them. Settlements in the new market will be carried out exclusively in local currency.

The possession of non-fungible tokens is not prohibited in China, unlike mining and digital currencies. In the fall of 2021, the Chinese regulator introduced a ban on operations with cryptocurrencies. Therefore, it is interesting, what are the prospects for the development of the NFT industry in the next few years?