The crypto market is now opening up wider than it used to be, thanks to various new uses from the previous retail trading. As of now, the market can boast of having one of the most concentration of institutional players in the market. But while that is something to be proud of, the real sector that has seen people troop into the market has been none other than the decentralized finance sector and the now booming NFTs.
Before this time, the NFT sector was relatively unknown, with only a few entities dabbling in it, while the DeFi sector recently entered the mainstream media some few months ago. But while others are focusing on certain other issues in the crypto market, the CEO of crypto.com, Cris Marszalek, has made a prediction.
Marszalek says NFT would bring more people into the crypto market
According to Marszalek, the now booming NFT and institutional participation would introduce nothing less than 200 million users into the crypto space. Despite releasing a report some weeks back that showed that crypto spent close to 10 years before it saw its first 100 million users, the CEO points out that it would not take that long before 200 million is achieved.
In his interview, Marszalek pointed that he was aware of the market conditions. Despite that, he thinks that crypto adoption would have it relatively easy breezing into the 200 million user cap than it has, moving from 50 million to 100 million. Giving his reason for saying so, Marszalek mentioned that with every trend that emanates from the crypto sector, it seems always to have a positive perception of the general public, hence flocking into the scene. He also pointed out how institutional investors have converted people to space through their multiple investments.
Famous stars can introduce their followers to crypto
While the end of 2020 was riddled with a rise in the price of Bitcoin and the decentralized finance boom, 2021 seems to have kicked on with the entrance of NFT. With most people joining the craze, certain individuals and firms such as Jack Dorsey and the NBA have all placed one thing or the other for sale, making cash in return.
Marszalek says he is now of the opinion that if famous stars join the NFT craze, millions of followers on their social media would follow them into the sector. He pointed out that it could trigger most of them, if not all of them, into entering the crypto market, branding the famous people as “crypto influencers.” Despite crypto still boasting millions of users worldwide, major entities such as Marszalek think that the market is still quite young and would see more people troop in.