Bitcoin halving will spur ‘surge’ in NFT volume.
Mintable founder Zach Burks said that if the halving boosts user engagement, there would be an uptrend in NFT prices.
As the much-anticipated Bitcoin halving looms closer, professionals working in the nonfungible token (NFT) space anticipate that the crypto milestone will not only affect crypto tokens but may also positively impact the NFT ecosystem.
Oscar Franklin Tan, the chief financial officer of Atlas Development, a core contributor to the NFT platform Enjin, believes that NFT prices will “surge after the halving.” The executive argued that this is part of a known cycle where interest in Bitcoin
BTC tickers down $65,761 spills over other ecosystems like NFTs. Tan said:
“Prices and volumes should eventually surge after the halving as part of the known cycle. Because NFTs are established segments of ecosystems, interest from Bitcoin will spill over into NFTs together with altcoins.”
Zach Burks, the founder of NFT marketplace Mintable, said that while accurately predicting the future growth or adoption of technology is almost impossible, the community can expect an increase in trading volume for NFTs as Bitcoin’s price rises. “If the halving also boosts user engagement, it is reasonable to expect an uptrend in NFT prices.”
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