Avichal Garg, CEO and co-founder of Electric Capital asserts himself as “a maximalist of NFTs“. He believes that NFTs will play an essential role in bringing cryptocurrencies to the masses. Unlike other cryptocurrencies, NFTs are related to aspects of everyday life such as art, music, and games. Garg said in an exclusive interview with Cointelegraph:
“I can imagine that NFTs are actually billions of people because ultimately it’s culture. And it’s something that everyone can participate in and everyone can understand”
In particular, Garg is optimistic about NFTs being used in the gaming industry, which he sees growing at an exponential rate.
“In 18-24 months from now, I think we’re going to see this massive explosion of (NFT-based) games”
Garg believes that the bear market can continue, as long as the macro market context is dominated by high inflation. This means that it may take another year or two for the market to enter a bullish cycle. However, when he observes the current macroeconomic picture, he feels extremely optimistic about the crypto industry in about 10 years.
“Interest rates and inflation prevail in the short term when over a period of 2-3 years. But innovation is the dominant factor in the long term.”