Difference and advantages of NFT and cryptocurrency with Dr. Yasam Ayavefe

NFT: Non-fungible token. It is a token used to represent the property of an item. The “tokenization” of everyday household necessities into priceless works of art is used to purchase wants and needs through a token. The term “non-functioning” means that it cannot be interchanged with anything else because it has unique characteristics. The term “fungible” has no distinguishing features and is defined only by their value; therefore they can be exchanged. At the same time, NFTs cannot be traded because they are specific to the ownership of designated items d. Due to the digital transformations in the financial world, most of us would consider both NFTs and cryptocurrencies; However, that is not the case. NFTs are built with programs like Bitcoin or Ethereum, their only similarity. Also, the physical dollar is volatile as a cryptocurrency while NFTs are not.

As the world becomes more and more familiar with digital transformation, there are several terms that we all eventually need to get a deep understanding of how they work and what they mean. NFT is one of those abbreviations that most of those who are not advanced in finance might need an explanation of what these letters mean. And before we learn more about Dr. Yasam Ayavefe on NFT and cryptocurrency, receiving a brief description of the topic will benefit all of us.

NFTs can become a one-time hit, benefiting global economic conditions. Like dr. Yasam Ayavefe taught us:

“The exponential increase in the popularity of NFTs shows the unpredictability of adoption of new technologies. Furthermore, we can see that several elements, such as the associated social status or the belief in long-term value growth, have contributed to the recent expansion of NFTs.

“NFTs offer a fairly prosperous future in my opinion. Several current and future trends will continue to attract more NFT consumers. Blockchain technology and NFTs, for example, have the potential to significantly influence the gaming industry. Several games have been produced recently that are based entirely on NFTs and current video games are being adapted to implement NFTs. In addition, other trends will intrigue consumers such as NFT ticketing, AI NFTs and NFT streaming.

From the point of view of Dr. Avayefe it has become clear that NFTs can become a powerful force for change when combined with different financial domains that enable the network to keep data from a transparent platform and a specific, immobile and solid way.

While NFTs and benefits are growing at an unimaginable pace, cryptocurrencies have already taken their place as an inflation solution. Unlike NFTs, cryptocurrency can take physical money and turn it into cryptocurrency; the most famous is Bitcoin. Some consider Bitcoin “digital gold” because they are residents of entities that disrupt the market. However, the Bitcoin blockchain and protocol works like a sophisticated machine and is not dictated by economists who have to respond to market events within the central banking system. Essentially, Bitcoins are self-contained and hold up without government intervention.

We were curious about Dr. Ayavefe on inflation and the effectiveness of cryptocurrencies.

“There is no doubt that investors and savers are concerned about what to do with their money in this development. This is not an easy question, and many views exist about preserving money in the face of excessive inflation. In my view, a smartly diversified portfolio of inflation-proof investments is essential to mitigate the effects of inflation. In addition, assets such as real estate or commodities should also be considered as rates skyrocket. Real estate prices rise when inflation is high, as investors look for assets that offer returns in excess of inflation. Moreover, we can say that real estate is scarce when it comes to fiat currency while the price of building a house rises along with inflation.

“The newest tool in the fight against inflation is Bitcoin. Institutional investors seem to be turning to Bitcoin lately, probably because they view it as a more effective inflation hedge than gold.

We have received an abundance of knowledge from our time with Dr. Ayave regarding digital finance on two platforms. While NFTs cannot be traded a cryptocurrency has the ability to do so, both forms of digital finance benefit from economic change. We thank this financial expert, renowned businessman and philanthropist for taking his time, sharing his opinion and helping create a stagnant economy in this inflationary crisis.

For more information about Dr. Ayavefe and his work, click here:



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