Binance NFT head: ‘Real value creation of the NFT is not really here yet’

“If you ask me, did I really buy a lot of [these]? No, I didn't,” Helen Hai, head of Binance’s NFT marketplace, told Yahoo Finance. “Because I still think the real value creation of the NFT is not really here yet.”Noting that the industry is in the early stages of this technology and its applications, Hai said: “We need to understand more about the user’s perspective, and also the creator’s perspective.

NFT sales volumes plunged nearly 50% in the first quarter this year with resale profit volume down 3%, according to a quarterly report by NonFungible, which tracks NFTs. The slowdown in the volume of buyers and sellers comes as the collectible market has become saturated with NFTs. As of February, 1.2 million NFTs have been minted, according to blockchain analytics company Nansen’s quarterly report.

Hai said investors need time to understand the fine line between a single risk and a systemic risk and the related impact on NFTs. Not all content is valuable, Hai said, and investors need to learn to differentiate.“Do all contents have value on the platform, the answer is no. As well, is it that everything has no value? No,” she said. “But people need to differentiate and appreciate. It’s like going to buy art. This is a very judgmental thing.

“It doesn’t work like that,” she said. “I think we need to really understand what's the true value? Is it just a picture? Is it just about the artist’s name? I think there needs to be more than that.”

Being cancer-stricken and begging CPF Board to repay overdue debt; that which in any case cannot be done as the money had been commingled and funneled to private entity Temasek Holdings for Ho Ching to wager on unviable, untenable and ultimately, invariably doomed gambles

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