Governments will crack down on NFT 2022

TL; DR fault

  • Cardan’s founder, Hoskinson, predicts that regulators will curb NFTs in 2022.
  • Predicts Ripple, the SEC’s legal battle will end in 2022 in Ripple’s favor.

Cardan’s founder and developer, Charles Hoskinson, predicted that in 2022, governments and regulators will continue to crack down on non-substitutable tokens (NFTs) in a similar way to cryptocurrencies and initial coin offerings (ICOs).

Hoskinson predicted in a video on YouTube on the eve of 2022 doc speaking about the Cardano project and the crypto industry as a whole.

He expressed confidence that 2022 will be one of the best years for Cardano, noting that the system has made a lot of progress with affiliates and community projects.

The mathematician said 120,000 people attended the Cardano summit in 2021 and that people saw how the ecosystem works for itself.
He also pointed out that the market was growing too fast and that we “as an industry will digest the consequences for better or worse if we become so big so quickly”.

Hoskinson Ripple, predicting the breakdown of NFT

Among some of the predictions he made in the video, he also said that we will “probably have a solution to the Ripple case” and also pointed out that at this point Ripple looks like he will win.

Speaking about NFTs, Hoskinson said that during 2022, we are still likely to see a lot of regulatory engagement in the industry, especially the fight against DeFi and non-replaceable tokens (NFT).

He gave an example of what happened to the initial coin offerings (ICOs) and how regulators focused on them in 2018 and 2019.

Recently, Hoskinson, speaking about Cardano’s plans for 2022, revealed that two million funds have been issued to Cardano, most of which are NFTs. He added that more than 127 projects are currently writing code to build decentralized applications (dApps) online, and about 20 to 30 are in preparation for launch in the next three months.

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