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Investing.com – In the same note that estimated , JP Morgan bank and its analyst Nikolaos Panigirtzoglou also predicted a bright future for NFTs, or non-fungible tokens.
Beyond Bitcoin, the bank has indeed labeled digital assets broadly as an emerging asset class on a structural uptrend.
“This growth doesn’t have to come from the continued price appreciation of existing cryptocurrencies such as Bitcoin and Ethereum, which are already popular with institutional investors, but in our mind it is more likely to come from expansion. of the digital asset universe,” Panigirtzoglou said.
For example, “NFTs are likely to grow exponentially over time as more real assets digitize, and thus NFTs are likely to dominate the size of the digital asset universe in the future,” he added.
And this could, according to him, be done to the detriment of:
“In the future, we are likely to see a multitude of blockchains tailored to specific applications rather than the Ethereum blockchain which dominates all applications in the crypto ecosystem.”
The bank has indeed underlined the growing competition from cryptocurrencies which are openly displayed as alternatives to Ethereum, determined to dethrone ETH.
“The Ethereum blockchain is already facing strong competition from several blockchains that are effectively trying to replicate Ethereum’s functionality,” the note also reads.
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