Jacob Lee Shatters With Truths of NFTs

Shanghai Residents Switch to NFT Showcasing Hardships During Lockdown
  • Jacob Lee puts out his views on NFTs.
  • Describes all the skeptics throughout the crypto and NFT industry. 
  • Ends on a positive note on NFTs, being the future and more.

Almost the entire crypto industry knows very well that the Non Fungible Token (NFT) is ought to dominate the entire world starting off currently and towards the future too. In such terms, the last few years obviously saw a massive growth of the NFT industry, with approximately new NFTs onboarding every single day. Not to forget the fact that with each year, the overall market cap of the NFT industry has been multiplying itself by many folds over and over again. 

With respect to all such praises and opportunities the industry holds, the Australian musician, Jacob Lee, puts forth his views and determinations of NFTs and also the crypto industry vividly. Much to admire he ends finally terming NFTs are much more than what we currently imagine today.

Views of Jacob Lee

Almost all popular singers and musicians are into NFTs these days. In addition, as NFTs first started out with only paintings and art forms, the second sector to indulge in it was the music industry, which comprised musicians, singers, music album companies and much more. Therefore, we obviously ought to have no doubts why Jacob Lee being such a prominent musician now talks about technology, crypto and of course the highlights, NFTs. 

Firstly, Jacob Lee goes back to the very beginnings of all, and that’s nothing but the Bitcoin (BTC). He explains how when at first BTC came out in 2009, the criticisms it faced over the initial few years. In fact no one took the concept of digital currency seriously at all. However, as each year, as the growth of BTC was evident to more and more people, slowly the actual truth and knowledge and ideology of digital currency and crypto started to spread. 

Similarly, when Ethereum (ETH) and blockchain came into the picture. The whole concept was indeed entirely different from BTC. Web2 integrated blockchain, ERC-20 and so on, gave rise to more and more new attributes for the crypto and the blockchain industry. One of the most successful ones was the NFTs. 

Like BTC and crypto, the concept of NFT obviously received criticisms and many were skeptical of it. Yet, with the passing of time, the NFTs were an instant hit, people started to admire the concept along with the growing value of it. Jacob Lee states that people become curious and indulge themselves into a concept trying to understand it, only with it’s abrupt growth is evident before them. 

Finally, Jacob Lee states that, still there are negative criticisms around the NFT. However, those who are early enough to understand it, will be ones that bore the most fruits out of them. 

A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.