Former Goldman Sachs Executive Raoul Pal Says NFTs Are Bigger Than AI Cryptos
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Raoul Pal, a former executive at Wall Street investment banking giant Goldman Sachs, says that NFTs (non-fungible tokens) have bigger potential than AI (artificial intelligence) cryptos.
When asked during a recent Twitch Stream interview if AI is bigger than NFTs, Pal responded with “no,“ before adding, “You can’t ascribe the value of OpenAI and say oh, crypto AI should be worth the same.”
AI Cryptos Pump 6% With VADER, TRISIG, And ARC Leading The Charge
Amid Pal’s recent remarks, the AI crypto market saw its combined capitalization pump more than 6% in the last 24 hours. Leading this surge were VaderAI by Virtuals (VADER), Tri Sigma (TRISIG), and AI Rig Complex (ARC).
Here is the link for my midcurve conversation about AI with @notthreadguy 😉
To be honest, I've w3anted to be on his twitch stream from Day 1 and a humorous insult got me here…https://t.co/GdVzlJ1pVU
— Raoul Pal (@RaoulGMI) January 14, 2025
VADER was the top performer in the AI crypto space throughout the past trading day after it registered a more than 59% price increase. Both TRISIG and ARC recorded 24-hour gains greater than 30%, with TRISIG up more than 36% and ARC up 35%.
Meanwhile, the NFT market only saw its total valuation rise more than 1% in the last 24 hours, according to CoinGecko data.
NFTs Have Worst Year Since 2020, Raoul Pal Anticipates A “Recovery Cycle”
Pal’s comments come after the NFT market had its worst year in terms of trading volumes and sales since 2020, according to a Jan. 14 DappRadar report.
In its 2024 Dapp Industry Report, the blockchain analytics firm said that the collective trading volume for the NFT sector dropped to $13.7 billion last year, which is a 19% decrease from the volumes seen in 2023. Similarly, the amount of sales fell 18% to just below $50 million. This made “2024 one of the worst performing years since 2022,” analysts said in the report.
Despite this drop in sales and volumes, Pal believes that NFTs will “have their own recovery cycle” based on a “bunch” of factors soon.
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