Avichal Garg, CEO and co-founder of Electric Capital, identifies himself as an “NFT extremist,” who believes that non-fungible tokens (NFTs) will play an integral role in bringing cryptocurrencies to the masses. Unlike other crypto niches, NFTs are associated with aspects of everyday life such as art, music, and games.
“I can imagine NFTs are actually many billions of people because it is ultimately a culture. It is something everyone can participate in and everyone can understand,” Garg said in an exclusive interview with Cointelegraph.
In particular, Garg is optimistic about the use of NFTs in the gaming industry, which he sees growing at an exponential pace.
“In 18-24 months from now, I think we will only see this (NFT-based) onslaught,” he said.
Garg believes that the bear market can continue as long as the overall picture is dominated by high inflation, which means that it may take another year or two before we see the next bullish cycle. However, when he looks beyond the current macroeconomic picture, on a 10-year time horizon, he feels very optimistic about the cryptocurrency industry.
“Interest rates and inflation dominate in the short term when you talk about a time horizon of two to three years. In the long term, innovation dominates,” he noted.
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