Non-fungible tokens will outperform cryptocurrencies in 2022, according to Galaxy Digital boss Mike Novogratz.
NFTs will lead crypto/web 3 in 2022. That’s my tweet.
— Mike Novogratz (@novogratz) February 2, 2022
The billionaire recently predicted that the crypto market would continue struggling to regain its composure if U.S. stocks were to remain in a bearish trend:
Crypto will have a hard time rallying until stocks find a base.
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In October, Novogratz said that the NFT market was too overheated, urging buyers to take some chips off the table. This, however, wasn’t the case, and the sector continues to thrive despite uncertainly in the broader cryptocurrency market.
According to data provided by Norwegian crypto analytics company Dune Analytics, the daily trading volume on the OpenSea marketplace hit $247 million on Feb. 1.
In early November, Novogratz purchased a CryptoPunk for roughly $440,000 worth of Ethereum while also announcing the launch of Galaxy Digital’s NFT collection.
Alex DovbnyaDisclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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