Former Goldman Sachs Banker explains why he allocated 10% ETH holdings in NFTs

Raoul Pal shared his personal opinion on the Crypto NFTs sector and noted that NFTs have a very bright future and he is betting on some NFTs collectibles. 

The nonfungible tokens (NFTs) concept first came from the Dapper labs. In 2017, CryptoKitties was created & launched by the Canadian studio Dapper Labs and it was built on the Ethereum blockchain network. In the present time, many crypto proponents are working to bring practical-level use cases of NFTs & blockchain technology. 

On 20 Feb 2023, Raoul Pal, the co-founder of Real Vision firm & former Goldman Sachs Banker, appeared in a new webcast on YouTube.

Pal said that Crypto NFTs dragged his attention in the last year and after that, he started to study them thoroughly. Further, he explained the practicality of the NFTs concept on blockchain technology with an example of Monalisa’s image. 

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Former Goldman Sachs Banker said:

 “If you own the image of the Mona Lisa. You don’t own the Mona Lisa. The more people have the image of it, the more valuable the actual original is, which is something a lot of people don’t get their heads around.”

In short, Pal believes that NFTs on blockchain help people to own the real ownership of arts. Further, Pal disclosed that he allocated his 10% Ethereum (ETH) holdings in NFTs purchase and now he is holding some of the benchmark NFT projects. 

According to Pal NFTs will outperform Ethereum, more similarly as pricey real estate outruns the economy in times of excess.

Contrary to the prediction of the Real Vision CEO, in 2022 few people claimed that NFTs will be a big reason to bring a winter phase for the crypto sector. 

NFT volumes & prices in Jan 2022 have been strong. Many say this shows how everything in crypto may not crash simultaneously again.

One could also say #NFTs are at the furthest end of risk, the most illiquid, and so the last to pump with the euphoric gasps of a dying bull. pic.twitter.com/9jW27gwG9s

— Chris Burniske (@cburniske) January 30, 2022

Read also: XRP community seems confident as US SEC lost 80% of cases in the supreme court

Former Goldman Sachs Banker explains why he allocated 10% ETH holdings in NFTs

 

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