NFTs have received a big endorsement from Mr. Wonderful himself.
Millionaire investor, and former crypto critic turned avid crypto evangelist Kevin O’Leary, says that he believes the future for NFTs is much bigger than most people currently realize. He says it could even eclipse Bitcoin.
Speaking to CNBC’s Capital Connection on Wednesday, O’Leary argued that NFTs ability to tokenize and authenticate physical assets such as cars, and real estate, offers a greater opportunity to attract capital.
“You’re going to see a lot of movement in terms of doing authentication and insurance policies and real estate transfer taxes all online over the next few years, making NFTs a much bigger, more fluid market potentially than just Bitcoin alone.”Kevin O’Leary
While bullish of NFTs’ potential, O’Leary said that he will still be investing in crypto. “We’ll see what happens but I’m making that bet and I’m investing on both sides of that equation,” he said.
2021 was the first year when NFTs received mainstream recognition, but adoption is still at the very early stages. That makes it even more impressive, considering that billions of dollars in NFT related trades changed hands; $20 billion by last estimates.