Avichal Garg: “NFT will open the world of cryptocurrencies to billions of people”

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The CEO and co-founder of Electric Capital, a self-described “collectible token enthusiast,” believes NFTs will attract billions of people to the crypto industry.

According to Avichal Garg,NFTs, unlike any other tokens and cryptocurrencies, can be used in any activity. For example, in art, music or games. The businessman is especially positive about the use of collectible tokens in gaming projects.

“I can imagine that NFTs will attract manybillions of people, because they have become the quintessence of culture. This is something that every person can participate in and understand. I think that in one and a half to two years we will see a huge number of computer games using NFTs,” said Avichal Garg.

CEO of Electric Capitalshared his opinion on the near future of the cryptocurrency industry. He believes that cryptocurrency rates will continue to fall, at least until the economies of the world's largest countries are unable to cope with inflation. Garg said that the next “bull cycle” in the cryptocurrency market will have to wait another year, or maybe two. However, in the long term, the businessman has an extremely positive view of digital assets.

Earlier it became known about long-term plans for the use of NFTs by large Japanese gaming companies Bandai Namco, SEGA and Square Enix.