Metaverse and gaming-related tokens might have seen a tough 2021 with huge losses, but financial expert Winston Ma still predicts a booming 2022, as NFT’s and cryptocurrencies still have a firm future, he tells in The Street.
Winston Ma, managing partner of CloudTree Ventures, and author of The Digital War – How China’s Tech Power Shapes the Future of AI, Blockchain and Cyberspace, said that metaverse and gaming-related tokens, like Mana and AXS, suffered steep losses tokens in the broader crypto’s market sell-off.
Still, he said, the market interests towards metaverse and gaming remains high, as GameStop (GME) – Get GameStop Corp. Class A Report shares jumped on Friday after news that the video game retailer is planning to create a marketplace for non-fungible tokens (NFTs) and establish cryptocurrency partnerships.
“That correlation may simply be emotional, but the big picture is, the gaming industry is fast-becoming one of crypto’s most potent areas of application,” Ma said. “The momentum is extremely strong after Facebook changed its name to Meta to highlight its focus on the ‘metaverse’ because many believe that immersive and interactive gaming is closely related to the metaverse.”
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