JUSTIN SUN SPEAKS ABOUT THE FUTURE OF NFTS
Justin Sun is Tron Network’s founder and is Grenada’s Permanent Representative to WTO. Justin has a great understanding of Non-fungible tokens, popularly known as NFTs. In a discussion, he explains his opinions on NFTs and will make them rise to the top again. NFTs are a form of cryptocurrency just like Bitcoin. In 2022 it was hit hard and experienced the worst drop.
The users of NFTs have experienced significant losses over the past months, and their trading has significantly dropped. Justin Sun’s company Tron Network has been in the lead regarding cryptocurrency evangelism. The company provides a wide range of services, including regulatory and government projects. Justin Sun was one of the beneficiaries of the NFT boom when he bought Warhol and Picasso.
Justin Sun has opinions on why NFT dramatically declined is a combination of different factors. Investors significantly invested in NFTs after a dry season on other cryptocurrencies. The play-to-ear also contributed to its decline. He believes that NFTs will bounce to the top by the end of the year because of geopolitical and macroeconomic reasons.
Many upcoming projects like Web3, play-to-earn, metaverse and P2E games exist. Justin believes that despite these innovations, NFTs still have a great chance to rise back to the top once the curve flattens. As more countries adopt cryptocurrencies, it is essential to ensure the process is accessible and user-friendly for all its users. The adoption of crypto is a gradual process since, by the day, more and more people are getting aware of it.
Tron Network has achieved a significant milestone. The Republic of Dominica has passed that Tron is its official currency. In exchange, Tron Network will help the Dominican government build its infrastructure and help in the production of energy. Justin believes that over the years many countries will use cryptocurrencies.
Original source to learn more: https://www.forbes.com/profile/justin-sun/