Difference and advantages of NFT and cryptocurrency with Dr. Yasam Ayavefe





NFT: non-fungible token. It is a token used to represent ownership of an object. The “tokenization” of the daily essentials of the house into priceless works of art is used to purchase wants and needs via a token. The term “non-fungible” means that it cannot be exchanged for anything else because it has unique characteristics. The term “fungible” has no distinctive characteristics and is defined only by their value; therefore, they can be traded. At the same time, NFTs cannot be traded as they are specific to the ownership of designated elements d. Due to digital transformations in the financial world, most of us would consider NFTs and cryptocurrencies alike; However, this is not the case. NFTs are built using programs like Bitcoin or Ethereum, their only similarity. Furthermore, the physical dollar is editable as a cryptocurrency, while the NFTs are not.

With the world becoming more and more familiar with digital transformation, there are several terms that we all ultimately need to fully understand how they work and what they mean. NFT is one of those abbreviations that most of those who are not advanced in the financial world may need an explanation of the meaning of these letters. And before we get to know Dr. Yasam Ayavefe’s views on NFT and cryptocurrency, getting a brief description of the topic will benefit us all.

NFTs have the potential to become a one-time success, benefiting global economic conditions. As Dr. Yasam Ayavefe taught us:

“The exponential increase in the popularity of NFTs demonstrates the unpredictability of the acceptance of new technologies. Furthermore, we can observe that several elements, such as the social status associated with it or the belief in the appreciation of long-term value, have contributed to the recent expansion of NFTs.

“NFTs, in my opinion, offer a fairly prosperous future. Various current and future trends will continue to attract more NFT consumers. Blockchain technology and NFTs, for example, have the potential to have a significant impact on the gaming industry. Several games entirely based on NFT have been produced recently, and current video games are being modified to implement NFT. Additionally, other trends will intrigue consumers, such as NFT tickets, AI NFTs, and NFT streaming.

From Dr. Avayefe’s point of view, it has become clear that NFTs can become a powerful force for change when combined with various financial domains that will allow the network to keep data from a platform that is transparent and specifically, immobile and solid.

As NFT and perks grow at an inconceivable rate, cryptocurrencies have already taken their place as a solution to inflation. Unlike NFTs, cryptocurrency can take physical money and turn it into cryptocurrency; the most familiar is Bitcoin. Some consider Bitcoin “Digital Gold” because they are residents of entities that interfere with the market. However, the blockchain and the Bitcoin protocol function as an improved machine and are not determined by economists who have to respond to market events within the central banking system. In essence, Bitcoins are autonomous and hold up without government interference.

We were eager to hear Dr. Ayavefe’s take on inflation and the effectiveness of cryptocurrencies.

“There is no doubt that investors and savers are concerned about what to do with their money in this development. This is not a simple question and there are many opinions on conserving money in the face of excessive inflation. In my opinion, a smart diversified portfolio of inflation-safe investments is essential to mitigate the consequences of inflation. Furthermore, assets such as real estate or commodities should also be considered as rates are skyrocketing. Property prices rise when inflation is high as investors seek assets that offer returns above inflation. Furthermore, we can say that ownership is scarce when it comes to fiat currency, while the building price of a house rises along with inflation.

“The latest tool in the fight against inflation is Bitcoin. It seems that institutional investors have been turning to Bitcoin lately, probably because they perceive it as a more effective inflation hedge than gold.

We have received a plethora of knowledge from our time with Dr Ayave regarding digital finance across two platforms. While NFTs cannot be traded, a cryptocurrency has the ability to do so, both forms of digital finance benefit from economic change. We thank this financial expert, renowned businessman and philanthropist for his time, for sharing his views and for helping to create a stagnant economy in this inflationary crisis.

To learn more about Dr. Ayavefe and his work, click here:

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