Cryptocurrency6 hours ago (Dec 24, 2021 11:00AM ET)
NFTs to Boom When Metaverse Goes Mainstream in 5 Years, Analyst Opines
- Crypto is beginning to recover and NFT demand is skyrocketing, analyst says.
- NFT search volume just passed Crypto in Google (NASDAQ:) trends.
- The analyst recommends keeping an eye on crypto gaming.
Youtube crypto analyst JRNY talks about the crypto markets and NFTs with his over 600,000 viewers. He believes as 2021 is coming to an end, the markets will be recovering in general. To him, the recovery is already starting with bitcoin picking back up to over $51,000.
NFT search volume just passed Crypto in Google trends Check out my new video covering the Crypto markets and NFT updatesRetweet and comment “#JRNYclub” for a chance to win $500 of $ETHhttps://t.co/QVG5UmV6qA
— JRNY Crypto (@JRNYcrypto) December 24, 2021
Accordingly, all other coins are up around 10 to 15% as well. (ADA) is up 10%, Luna of 15% while Sandbox (SAND) is up 22%, which he believes will be a top 10 cryptocurrency at some point in 2022.
Going into 2022, he says he will be launching a new NFT set and free mint for JRNY NFT club holders. Not only that, there will be lots of other perks for JRNY club holders as well like weekly NFT market updates, private chats, whitelists to various projects, and other things as well.
He confirms that currently, there is a huge global search interest for NFT, surpassing crypto for the first time ever. Citing the CEO of Coinbase (NASDAQ:) who revealed not too long ago that NFTs can surpass crypto on the Coinbase platform.
JRNY states that he is waiting for the metaverse to go mainstream which he thinks is going to take five years minimum to happen. He warns that a very high percentage of NFT sets are just going to fade out because they do not have good teams behind them that are integrated into the space and understand how to build good utility.
As the metaverse starts picking up, more companies are getting involved in NFTs, which we have been seeing lately, he says. Nike (NYSE:), Adidas (OTC:), Snoop Dog, Steve Aoki, Grimes, and more are making an entry into metaverse NFTs. And that’s going to continue because they do want to play a role in the metaverse where the future of social media is headed.
Besides that, a lot of NFTs are now creating their own cryptocurrencies for staking rewards and utility in their ecosystem for games and other things. And he does believe throughout 2022 all the big blue-chip NFT sets will be doing their own cryptocurrency which is going to bring more and more demand to the NFT space.
So for crypto all coins, JRNY is still very bullish on a lot of all coins. He is bullish on for 2022, Cardano and as well as Chainlink (LINK), which is one of his top picks now, out of the top 100 for 2022. This is because they are getting the most partnerships out of any crypto project in the entire space.
To sum up, he says there is going to be a huge use case coming from Chainlink for the metaverse and NFTs. In general, he recommends keeping an eye on crypto gaming.
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