Investor

NFTs will bring crypto to billions of users, says venture capitalist

Avichal Garg, CEO and co-founder of Electric Capital, describes himself as “an NFT maximalist” – who believes that non-fungible tokens (NFTs) will play a vital role in bringing crypto to the masses. Unlike other crypto niches, NFTs relate to aspects of everyday life such as art, music, and games.

“I could imagine that NFTs are actually many billions of people, because it’s ultimately culture. And it’s something that everyone can participate in and everyone can relate to,” Garg said in an exclusive interview with Cointelegraph.

In particular, Garg is optimistic about the use of NFTs in the gaming industry, which he sees growing at an exponential rate.

“In 18 to 24 months, I think we’re just going to see this onslaught of (NFT-based) games,” he said.

Garg thinks the bear market could last as long as the macro picture is dominated by high inflation, which means it will be another year or two before we see the next bull cycle. Yet when he looks beyond the current macro picture, looking ahead to 10 years, he feels overwhelmingly bullish on the crypto industry.

“Interest rates and inflation dominate in the short term when we talk about a 2-3 year horizon. But innovation is the one that dominates in the long term,” he pointed out.

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