Rarible's Co-Founder Says NFTs Are Skyrocketing
Non-fungible tokens have skyrocketed in price and popularity this year, as celebrities and major companies jump onto the hype, but they have a long way to go before really reaching the mainstream, according to Rarible cofounder Alex Salnikov. To do that, NFTs have to become more affordable and accessible, and companies have to think hard about what value they have for ordinary consumers, Salnikov told Insider in an interview this week. This includes making it easier for people to understand the market and simplifying the purchasing process. Right now, buyers have to set up a crypto wallet and add funds to it if they want to get an NFT. NFTs are a class of unique digital assets - such as videos, audio, images or even tweets - whose ownership is inscribed on blockchain ledgers. To break into the mass market, those offering the digital assets must first figure out what use they could have for the ordinary buyer, Salnikov said. Interest in NFTs is skyrocketing. In the 30 days to August 5, ...