biCredit Crypto Lending Platform:Fred Ehrsam 90% of NFT will soon be worthless

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“People try all kinds of things,” Ehrsam said. We’ll have thousands of cryptocurrencies and assets, just like there are thousands of websites. Most of them don’t work.”

“I would go so far as to say that 90 percent of the NFT that people produce may be of little value in three to five years. But the same thing happened with the early Internet companies in the late 1990s.”

Referring to financial decentralization, he said, “The emergence of Ethereum shows that blockchain-based applications can be built… I think over time we’ll see mainstream consumer applications adopt this technology, and maybe NFT is a strange frontier on that front.”

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In terms of encryption’s potential, Ehrsam noted, “The world is not going to change overnight, but you can see the seeds of exponential growth already growing. So I think in the future, we won’t need these centralized platforms. This has become true in financial services because you can be your own bank. You no longer need a central authority to hold your money.

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