Ethereum Founder: “We Must Be Patient about NFTs”


Non-fungible tokens (NFT) and the interest of these projects in the crypto currency ecosystem has recently become important agenda topics of the crypto currency ecosystem. The founder of Ethereum Vitalik Buterin he also expressed his views on this issue at the Wanxiang Blockchain Summit in Shanghai, China.

“Both DeFi And NFT Are Developing, But…”

Buterin made statements at the meeting that both DeFi also NFThe noted that the has developed very well, but people have made DEFI very complicated. In addition, according to Buterin, the risks of a smart contract may exceed the benefits. The Ethereum founder believes that the most beneficial deal is the simplest deal.

In addition, Buterin believes that NFT, which provides creators with a october new business model, is very valuable. However, according to Buterin, people should not think that the NFT in its current form is economically sustainable. Because the NFTs have more ways to go, and according to Buterin, the NFTs need to spend several black winters.

NFTs Are Still Very New

First NFT although the project appeared in 2017, this sector is still very new and people became interested in NFTs in 2021. Therefore, Buterin’s thoughts may be correct, and the NFT sector may need to go through several difficult times to prove itself.

Regarding this point, Buterin made the following statements, “We have seen that projects in this area have performed decently for 6 months to 1 year, but they will become uncertain in 1-2 years. I think we should wait patiently and understand the long-term sustainable NFT.” he used his words.

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