Regarding VideoAge‘s April 2022 NFTs (Non Fungible Tokens) story, Isla Perfito, CEO of Sator.io* (pictured above at right), and Chris Martin, president of Sator.io (pictured at left), sent the following comments:
“NFTs are a brand new, better way for creators to monetize their content. By replacing the broken advertising model of Web 2.0, where personal data is exploited, NFTs and blockchain are here to stay as they protect creators and decentralize value in a digital format that benefits all players of the ecosystem.
Interesting that in the same breath, the VideoAge article points both to studios vehemently protecting their rights in the arena of NFTs, while also suggesting that NFTs, poised to reach $80 billion in sales this year, are a passing fad. It is more likely that the dollar is a ‘passing fad.’
The dollar lost 10 percent of its buying power in February 2022 alone. Ten months of that and the dollar is worthless. Remember, even during the so-called ‘crashes’ to $30,000 per bitcoin, bitcoin remains 30 thousand times more valuable than the U.S. dollar. After all, the definition of fiat is a currency backed by nothing but a government guarantee.
Of course, in the end, as indicated in VideoAge‘s April NFT story, all things are ‘passing fads’ because, in British economist John Maynard Keynes’ words, ‘In the long run, we are all dead.’ ”
*Sator.io, based in Nashville, TN, is a turnkey solution for digital rights holders, producers, and writers to creatively expand upon and preserve their work while simultaneously growing audiences and connecting directly with fans.