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Business News Fri, 13 May 2022

BizTech: The role of NFTs, Web3 in a virtual economy

In recent months, the word NFT and Web3 has dominated many social media platforms on numerous occasions.

NFTs are Non-fungible Tokens (NFTs) that serve as digital assets with unique identities kept and verified on a blockchain also known as a digital ledger.

For many young people, the idea of trading in digital currencies has also sparked some debate over its viability, profitability and authenticity.

Although Ghana is yet to regulate any form of crypto trading, many youth have begun to get themselves acquainted with NFT, Web3 and other emerging digital currencies with the hope of earning some money or accolades.

Taking his turn on GhanaWeb TV's BizTech, a digital currency expert and marketer, Elisha Owusu, popularly known as GhCryptoGuy made a case for crypto trading, especially NFT and Web 3.

"We have an unemployment crisis in the country and the Web3, NFT space provides a lot of jobs while a lot of big companies in the crypto space are looking to set in Africa," he told Mawuli Ahorlumegah.

He added, "Although crypto trading is unregulated, people are looking for new ways to protect their value, and usually, people want to protect this value using emerging technology which they think would have continuous appreciation in the long term."

Watch the full interview below:



Source: www.ghanaweb.com
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