Friday, March 1

Founder of Mercado Livre highlights problems of NFTs

The founder and CEO of Mercado Livre, Marcos Galperin highlighted some of the potential problems of NFTs in a post on his Twitter. For this, he shared a video that has gone viral on the internet in recent days, entitled “The line goes up – the problem with NFTs”, produced by the YouTube channel Folding Ideas.

The channel has more than 600,000 subscribers and often tells stories that are on the rise, and as the NFTs were a milestone in 2021, its presenter, Dan Olso addressed the subject.

Marcos Galperin is already known by the global Bitcoin community, as his company was one of those that bought the cryptocurrency as a store of value in 2021. In addition, he has made it clear several times that he supports the largest decentralized digital currency.

Founder of Mercado Livre agrees with video that addresses problems about NFTs

In Brazil, Mercado Pago allows its customers to buy and sell Bitcoin, Ethereum and Dollar Paxos, a stablecoin, being the company’s first initiative in this sector. In addition, this large Latin American company recently invested in a brokerage, showing that it should enter more into the space.

With a market full of new terms and supposed trends, such as NFTs, the founder of Mercado Livre keeps an eye on the problems of these initiatives, sharing the Folding Ideas video that talked about the subject.

In case he liked the program that addressed the problems of NFTs, he saw an explanation about the market not really doing what it promises, being manipulated by speculators, not protecting the rights of authors of the arts and that this is an unsustainable sector.

Seeing the explanations of the program that lasts more than 2 hours, Galperin liked the criticism made to the space, perhaps indicating that Mercado Livre should not work with NFTs.

“Blockchains are not good, Bitcoin and Ethereum are bad”

Despite the focus on addressing the problems of NFTs, presenter Dan Olson also made it clear that he is not a fan of blockchain technology, which only solves problems that it has created.

As for Bitcoin, he says that this currency only favors rich people and its system is so bad that it doesn’t allow it to be used for simple transactions. Furthermore, Ethereum is an even worse system than Bitcoin, with new problems like centralization being one of the main ones.

In this way, it is clear that the program watched by more than 3.4 million people, including the CEO of Mercado Livre, does not like the cryptocurrency market at all, with criticism of this entire space.