Bill Gates Says NFTs Are “100% Madman Theory Based”

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NFT technology theme It’s not really a novelty anymore. for a significant part of our readers and also for the population in general. “Non-fungible Token”, or “Non-fungible Token”, have gained popularity lately, with several brands already adopting this novelty in their services.

However, there are those who are not so confident about this system. Proof of this is that millionaire Bill Gates recently mentioned that NFTs are “100% based on the dumbest theory“.

Bill Gates Criticizes NFTs

According to reports, Bill Gates has recently shown his stance towards NFTs and considers them "100% based on the dumbest theory". This concept, big fool theory, this applies when even overvalued assets can make money, provided someone crazier can be found to buy them.

The millionaire's statements came at a recent climate change event hosted by the website Tech Crunch. In it, Gates said he preferred investing in assets with tangible results, such as factories, "or in companies that manufacture products“thus ruling out the cryptocurrency and NFT segment.

On the other hand, Bill Gates also suggested to suspect that one of these assets is developed "to avoid tax or any government rule". Moreover, the tycoon even joked about it by mentioning that "Obviously, digital images of monkey faces will make the world a whole lot better.", in reference to the popular NFT project designated Bored Ape Yacht Club.

Bored Ape Yacht Club

This isn't the first time the Microsoft founder has poked fun at cryptocurrencies. In an interview in February 2021, Gates had already warned of the dangers of investors buying Bitcoin, especially with its volatile value. And these recent statements come at a time when the value of digital currencies is falling.

The NFT is a kind of digital certificate, established via the blockchain. This title defines the originality and exclusivity of digital goods. An acronym for "Non-fungible Token", NFTs have caught the eye after being paid millions to acquire this type of asset on the internet.

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