15.6 C
Manchester
October 2, 2022
Image default
Bitcoin

Tim Sweeney, the creator of famous games, criticizes the NFT technology –

Fortnite founder Tim Sweeney claims that NFT “Goes in a different direction”but there is now more speculation than real value in it.

Fortnite creator Tim Sweeney criticizes the state of the NFT market

Tim Sweeney, co-founder of the studios behind Hitman, Gears of War and the wildly popular Fortnite, says Non-Convertible Token (NFT) technology is growing, but due to factors such as transaction costs and “Wild, speculative mess”may not become part of the mainstream.

His words are the answer to the entry on blog metaversed.net entitled “Into The Void: Where Crypto Meets The Metaverse”. It is a text written by Delphi Digital, a consulting, research and investment company. This is an extensive essay concerning, inter alia, gaming market.

In a short tweet, Sweeney praised the article and admitted that blockchain and NFT technology did “Most likely paths” market development metaverse. Only that he also criticized certain elements, e.g. the cryptocurrency market.

The problem of speculation

Sweeney is not the only major entrepreneur to have spoken out on the NFT in recent weeks. A few days ago, Mark Cuban released a series of 10 NFT animations in which you can see him… dancing. They were all sold out within hours. Analysts also managed to identify two businessman-related wallets that contained dozens of lesser-known cryptocurrencies, as well as fairly large token values ​​from DeFi projects such as Aave and Sushiswap. This shows that Cuban is slowly starting to invest in the blockchain market.

At a similar time, the trader also said in a TV interview that NFT prices are “Overpriced” due to low interest rates, which indicates that his interest in this market may be purely exploratory.

Both Cuban and Sweeney have good reason to question the exorbitant valuations of cryptocurrencies and tokens. There has been a large bull market on the market for several months. For example, last weekend, the CryptoPunk project was sold for 605 ETH, or over $ 750,000 at the time of the transaction.

Today, Bitcoin alone costs $ 33,500, or 3%. more than 7 days ago and the same as yesterday.

Related posts

US presidential elections: votes are counted –

Aparnna Hajirnis

Phillip Gillespie (B2C2 Japan): digital yuan could threaten BTC –

Aparnna Hajirnis

Searches for Bitcoin halving on Google are 300% higher than in 2016

Anupreet Kaur

Leave a Comment