{"id":14457,"date":"2022-10-14T01:11:00","date_gmt":"2022-10-14T01:11:00","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/nfts-will-be-as-disruptive-as-bitcoin-was-10-years-ago-kraken-exec\/"},"modified":"2022-10-14T01:11:02","modified_gmt":"2022-10-14T01:11:02","slug":"nfts-will-be-as-disruptive-as-bitcoin-was-10-years-ago-kraken-exec","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/nfts-will-be-as-disruptive-as-bitcoin-was-10-years-ago-kraken-exec\/","title":{"rendered":"NFTs will be \u2018as disruptive\u2019 as Bitcoin was 10 years ago \u2014 Kraken exec"},"content":{"rendered":"<p><\/p>\n<div data-v-4b69a2fe=\"\">\n<p>Non-fungible token (NFT) trading volumes may have dropped nearly 98% since January, but several industry executives tell Cointelegraph it&#8217;s nothing to fear as the technology continues to develop and mature.\u00a0<\/p>\n<p>Jonathon Miller, managing director of cryptocurrency exchange Kraken in Australia said \u201cdespite NFT market activity and sales volume having slowed down in September, we are still seeing positive adoption signals at an institutional level and continued growth in use cases.\u201d<\/p>\n<p>He told Cointelegraph that the company remains \u201cbullish on the NFT space\u201d and believes it will be \u201cjust as disruptive and innovative as Bitcoin was 10 years ago,&#8221; and said he was particularly intrigued by JPMorgan signing \u201ca lease using the technology\u201d as well as hearing the news that \u201cthe Vatican has opened an NFT gallery.\u201d<\/p>\n<p>He however acknowledged that the NFT industry is still \u201cin its infancy\u201d and that the biggest barrier to mass adoption is \u201cnightmare user experiences,\u201d saying that it is \u201cvery hard to say to someone who wants digital art, that you have to install a wallet and you have to onboard with that exchange.<\/p>\n<p>The Kraken executive said it has been a priority for them to make that process smoother.<\/p>\n<p>John Stefanidis, CEO and founder of NFT gaming platform Balthazar DAO told Cointelegraph that the trading downfall is not significant in the grand scheme of NFTs as people need to understand that \u201cNFTs are more than just photos.\u201d <\/p>\n<p>Stefanidis said it\u2019s natural for this decline to happen after \u201csomething has experienced extreme growth under one application.\u201d <\/p>\n<p>He believes this has the potential to stabilize the market more, saying that \u201cwhenever there is horizontal growth, people diversify and pull back, and we\u2019re going to see a more gradual growth in NFTs.\u201d<\/p>\n<p><strong><em>Related Reading: <\/em><\/strong><strong><em>Web3 gaming still a long way from mainstream adoption: Survey<\/em><\/strong><\/p>\n<p>Mason Edwards, Chief Commercial Officer of Tezos Foundation, an organization focused on promoting and developing the Tezos blockchain and related technologies, told Cointelegraph that it\u2019s \u201cbeneficial the market has shaken out a bit, people will buy things they care about, rather than speculation,\u201d noting: <\/p>\n<blockquote><p>\u201cWe\u2019re still not at a point of maturity in the NFT market, we\u2019re still going to see people buy a rock for a million dollars.\u201d<\/p><\/blockquote>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Non-fungible token (NFT) trading volumes may have dropped nearly 98% since January, but several industry executives tell Cointelegraph it&#8217;s nothing to fear as the technology continues to develop and mature.\u00a0 Jonathon Miller, managing director of cryptocurrency exchange Kraken in Australia said \u201cdespite NFT market activity and sales volume having slowed down in September, we are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14458,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-14457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NFTs will be \u2018as disruptive\u2019 as Bitcoin was 10 years ago \u2014 Kraken exec | NFT &amp; 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