American Computer Scientist Paul Graham Shows His Full Support For NFTs Sector

NFTs (non-fungible tokens) are making remarkable progress as usual, whereas several critics advocates confront each other in the case of dismissing the sector altogether. The new prominent name to propagate the NFTs (non-fungible tokens) is Paul Graham (an American venture capitalist and computer scientist).

VC supports NFT world

 In his latest Twitter post, the NFTs’ viability has been highlighted by Graham along with noting that there are a lot of use cases of the NFTs for several purposes. He added that eliminating the respective fields will be just like a foolish act. He asserted that even on being sure that a majority of the use case of NFTs is fake, the entirety of them would not be painted by him with one brush. This does not count to be the first instance when Graham has expressed his support for the industry. Earlier in May of the previous year, he provided detail about an NFT issued by Noora Health (a non-profit company).

Formerly, Graham had pointed out that despite their status as a unique space, NFTs have considerable potential. Nevertheless, everyone is not an NFT fan. It is worth noting that the latest comments of Graham come at a point when NFTs are categorized as a scam on the behalf of Itch.io (an open marketplace of games).

While sharing a tweet to explain the stance thereof on the sector of NFTs, the venue stated that a revaluation of the life choices should be made by the people if they consider that the non-fungible tokens are legally beneficial for anything other than the exploitation on the behalf of the financial scams, the creators, as well as the entire planet’s destruction.

The asset class and the current challenges

Apart from this, Itch.io moved on to criticize the firms creating NFTs and accused them of just caring about making profits and availing the chance for generating wealth on top of everything else.

Notwithstanding the position thereof as being among the 2021’s largest stories, the advancing world of digital assets has seen numerous scammers swindling the funds of the community members after pointing out the loopholes. As per the new report published on the behalf of Chainalysis (a company for crypto analytics), rapid growth has been witnessed in wash trading to inflate the NFT value artificially.

Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.