FTX creator and CEO Sam Bankman-Fried. Source: A video screenshot, Youtube/HBO

United States crypto exchange FTX opened its non-fungible token (NFT) market on the Solana (SOL) blockchain last month, and now, Sam Bankman-Fried, the business’s creator, discusses why he is not astonished that the very first piece offered through the service was a handwritten word “Test” that chose USD 720,000

” Visual esthetics are not a thing that I comprehend,” Bankman-Fried informed Axios on HBO. “Paintings, in basic, aren’t worth. I in fact do not get it. I do not, personally, comprehend the appeal of a Rembrandt painting. And when I see NFTs, a part of me resembles: I do not get the appeal of a few of these. A part is like: OK, I likewise do not comprehend the appeal of the Mona Lisa, to be truthful.”

The exchange’s creator declares that the NFTs’ worth arises from their worth credited to the pieces by their particular owners.

” I believe they all look dumb to me, however they all look lovely to other individuals, and I believe that a great deal of these NFTs imply a lot to individuals purchasing them,” he stated when inquired about how a Leonardo Da Vinci painting associates with “someone composing ‘Test’ as a JPEG.”

By releasing its own NFT market, FTX signed up with a growing swimming pool of exchanges active in the sector. A comparable task is underway at Coinbase which previously this month revealed that some 1m individuals signed up for its upcoming NFT platform in simply one day.

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