Tech investors have poured $90 million in NFT in 2021, and bitcoin can be an investment tool

Tech investors have poured $90 million in NFT in 2021

This year, tech investors have invested $90 million into projects that produce NFT tokens and digital collectibles. 2021 has become a pretty lucrative year for such projects. In 2020, NFT companies raised $35 million, and in 2021, the revenue amounted to about $90 million.

Last year, the total amount of NFT transactions was $250 million, but in the last month alone, the total sales of non-fungible tokens exceeded $220 million.

One of the largest deals on the market comes from Sorare, a blockchain fantasy football game developer. Earlier this year, the project raised about $50 million from Benchmark and Accel, as well as from a British footballer Rio Ferdinand.

Bitcoin can be an investment tool

The head of the BIS Innovation Hub, Benoît Cœuré, is confident that bitcoin is too volatile to use this crypto coin for payment. However, the top manager of the Bank for International Settlements believes that BTC can be considered an investment instrument.

“Bitcoin can be an investment instrument and it’s not for me to judge on that or to advise on that But it has failed the test of being a currency, it has failed the test of being a payment instrument — just because the value is moving around so much,” said the head of the BIS Innovation Hub.

According to Cœuré, regulators are currently studying the prospects for issuing their own digital currencies to ensure the financial security of citizens. A top manager at BIS said that central banks are focused on creating an instrument “that would provide liquidity, security and that could be used in the global payment system.“