The chief executive of OpenSea, the world’s leading non-fungible token marketplace, has distanced itself from cryptocurrencies following series of scandals.
Talking to the Financial Times, OpenSea chief Devin Finzer said that the crypto industry had seen some setbacks recently.
OpenSea soared in value as online collectibles and digital art called NFTs built upon the same blockchain technology as cryptocurrencies became a hype-fuelled market over the past two years.
NFTs retain a bright future and there are a variety of reasons why that makes sense in the current ecosystem, OpenSea Chief said.
He also believed that consumers will continue to spend real-world money to acquire digital images and display them in their homes and in online virtual spaces.
“It is not necessarily the case that NFTs will always be bought and sold denominated in cryptocurrency as they are today,” he said.
Nouns is a unique Ethereum-based project that auctions off a single NFT pixel character each day.