Forbes says that Bill Gates’ net worth is $121 billion as of June 20, 2022. This makes him the fourth richest person in the world. But he doesn’t seem to have changed his mind about cryptocurrencies like the popular non-fungible Bored Ape Yacht Club (BAYC) token (NFT).
The BAYC is made up of 10,000 Bored Ape NFTs, which are unique digital collectibles on the Ethereum blockchain. The BATHROOM is a collaborative graffiti board that only Yacht Club members can get to with their Bored Ape, which is also their membership card. Using the roadmap, the community can get access to new regions and benefits…
“Each Bored Ape is different because it is programmed with over 170 possible traits, such as its face, hat, clothes, and more. Unlike humans, not all apes are the same. The apes are stored on the Ethereum blockchain as ERC-721 tokens on IPFS. There’s no question about it. A chimpanzee costs 0.08 percent of all the Ethereum in circulation.
CNBC says that Gates said those things during a TechCrunch talk about climate change. Paul Allen, who helped start Microsoft, says that cryptography is “100% based on the bigger fool theory.”
According to Wikipedia, the Greater Fool Theory is used in finance. It says that sometimes you can make money by buying overpriced assets—things whose purchase price is much higher than their real value and then selling them for an even higher price.
Gates also made fun of the NFT market by saying that “expensive digital photos of monkeys” would “help the world a lot.” He was talking about how athletes, celebrities, and other wealthy people have bought into the BAYC NFT line.
” I’m used to asset classes … like a farm where they have output, or like a company where they make products,” he then said,
He also said that he wasn’t interested in crypto and that he wasn’t “long or short” on digital assets, both of which the millionaire denied.
The post Bill Gates told BAYC that digital Ape images would better the world! appeared first on NFT News Pro.