Monday, August 8

Tiago Reis is studying NFTs

Suno company founder Tiago Reis said he is studying NFT technology, based on cryptocurrencies. In Brazil, despite being considered one of the biggest critics of Bitcoin, he began to observe the cryptocurrency market in 2021 via ETFs listed on B3.

It is worth remembering that Tiago is one of the main combatants of financial pyramids in the country, some of which used the Bitcoin image, such as Midas Trend, for example.

Tiago Reis’ public criticism of the NFTs market

In September 2021, Tiago Reis vehemently criticized the NFTs games that were being released on the market. In his view on the subject, people were promising games to earn cryptocurrencies, selling tokens and not delivering the products.

Thus, the NFT game market would be a new way to create financial pyramids in the market, a subject he has been fighting for some years.

A few days later, at the beginning of October 2021, Tiago Reis spoke again publicly about NFTs, stating that this technology was a financial pyramid, more sophisticated than Unick Forex and others that attacked in Brazil.

Tiago Reis believed that NFTs were pyramids /Credit: Twitter

Back in October, Suno’s founder noted the sale of an NFT for about $530 million, one of the most expensive ever sold on the market so far, saying it would sell a better one for half the price.

NFT is an abbreviated term for non-fungible token and means that any real object can be blockchain tokenized. Several NFTs are also arts that only exist in digital environments, this being one of the sectors in which the technology is applied, but not the only one.

“I’m just looking”

Last Sunday (21st), the founder of Suno went to Twitter to explain about the change in opinion about the NFTs market. According to Tiago Reis, he is taking a look and hasn’t invested anything in this sector yet.

In any case, he believes that NFTs provide investors with fun collectibles, something akin to exchanging World Cup stickers. He recalled that some shares of companies on the market could be tokenized and sold as NFTs, as in the case of Apple, for example, which has scarce shares.

This reality would give market investors more fun and attract a wider audience, as the current financial market is very serious.

Tiago Reis’ idea of ​​making the world more interesting through NFT is even shared by the founder of the cryptocurrency Ethereum, Vitalik Buterin.

In a open letter recently he remembered that NFTs are key to bringing innovation to smart cities, some of which are already using cryptocurrencies, such as Miami and New York.