Raoul Pal, former Goldman Sachs executive and founder of Real Vision, has expressed his firm belief in crypto art as a profitable and sustainable investment for the next decade. According to Pal, crypto art is the most captivating and enjoyable sector within the cryptocurrency space.
Pal anticipates that the creation of crypto wealth and currency devaluation will drive significant demand for ideal scarce assets, such as digital real estate or digital art. Additionally, he noted that younger generations are more interested in digital assets than in most physical assets.
The expert compared Bitcoin to Manhattan real estate, suggesting that the best cryptographic art or NFT represents the most scarce and desirable digital spaces. Pal also highlighted the development of mechanisms to tokenize culture and community, creating tangible value from assets that were previously intangible.
In financial terms, Pal noted that most high-quality digital artworks are priced in ETH and tend to outperform ETH over time. For example, it is reported that the Beeple series had three times better performance than ETH this year.
Crypto art is an ever-evolving sector, and investing in these types of assets can be risky. It is important to conduct thorough research and consider the risks before investing in crypto art.