Microsoft co-founder Bill Gates said he thinks NFTs and cryptocurrencies are 100% based on the “greater fool theory.” Also, the millionaire joked that “expensive digital images of monkeys” would “improve the world immensely,” probably referring to the most popular NFT collection Bored Ape Yacht Club. The NFT community’s reaction to his statement was immediate and merciless.
What’s happened
You might think Bill Gates is somehow involved in crypto, but he actually isn’t. And he proved it while speaking on Tuesday at a TechCrunch talk on climate change.
“I’m not involved in that. I’m not long or short any of those things. I’m used to asset classes like a farm where they have output, or like a company where they make products”, — he said.
He also stated that he is suspicious of assets designed to avoid taxation or any sort of government rules. Describing crypto, Gates said that it is something that’s 100% based on the greater fool theory, referring to the idea that overvalued assets will go up in price when enough investors are willing to pay more for them.
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NFT community’s reaction
But many people disagree with Mr. Gates. Especially the multimillion-army of NFT fans. One of the leaders of the field, a famous NFT artist known as beeple, didn’t like what Gates said at all.
“Bill Gates, how about you stop microchipping people’s buttholes, and then we’ll talk about monkey pictures,” said beeple.
They are probably referring to the conspiracy theory that Bill Gates was chipping people through the COVID-19 vaccine. This is how the artist imagines it.
Users enjoyed the art and have already asked beeple to sell it as an NFT.
By the way, it is not difficult to create your own NFT. Do you want to know how? We have made a guide for you.