Here’s What Kraken Founder Jesse Powell Says He Could Never Have Predicted About Crypto

Here’s What Kraken Founder Jesse Powell Says He Could Never Have Predicted About Crypto

Founder and former Managing Director of Kraken, Jesse Powell, said there was one thing he could never have predicted about crypto assets.

In a new interview on The Breakdown crypto podcast, Powell says he never would have assumed that non-fungible tokens (NFTs) would drive the mass adoption of digital assets.

“More people are getting into crypto than ever before through things that I wouldn’t have anticipated, like NFTs. I think we need to find more things like that that are kind of this gateway use case for people who ask “why would I need Ethereum?” What am I going to do with it?

Powell goes on to cite a few examples of how NFTs have sparked mass adoption, such as social media giant Reddit posting collectible digital avatars built on Ethereum (ETH), the second-largest crypto asset by market capitalization.

“Reddit collectible avatars have been a huge hit and they’ve gotten millions of people into crypto just through the avatar system. People want to trade and customize these avatars, which are also NFTs, so I’m excited about stuff like that.

Powell, who recently stepped down as CEO of crypto exchange Kraken, goes on to note that there are many real-world use cases for NFTs that he believes will further develop the crypto industry. cryptography, as NFTs can help develop secondary markets.

“NFTs in general, I think there are a lot of real-world use cases for NFTs that are really tangible and practical. Ticket sales for concerts, for example, secondary markets for those, NFTs can usually upgrade them quite easily.This could be another major gateway…

[If] Ticketmaster is starting to use NFTs for everything, or if there’s a competitor to Ticketmaster that’s starting to use NFTs, there could be another integration event for us.

Don’t miss a beat – Subscribe to receive crypto email alerts straight to your inbox

Check Price Action

follow us on TwitterFacebook and Telegram

Surf the Daily Hodl Mix

Check the latest news headlines

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.

Featured Image: Shutterstock/AVADA_FX

Leave a Reply

Your email address will not be published. Required fields are marked *