Bill Gates attacks NFTs when they're down

Photo of Bill Gates
(Image credit: Future)

Microsoft founder Bill Gates has come out fighting against NFTs and crypto currency. Speaking at the TechCrunch talk this week the billionaire said NFTs are "100% based on greater fool theory," referencing the financial concept that overvalued projects and assets will increase in value if enough people are convinced they are worth something.

Bill Gates' blast at NFTs, specifically "expensive digital images of monkeys," comes on the back of a long-running NFT crash and a devaluing of crypto currencies. We've already heard from NFT artists who believe the situation is "as volatile as all hell" and the artist behind GTA and the new Fear City NFT, Stephen Bliss, who admits launching his project at the wrong time (it still sold out).

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Editor, Digital Arts & 3D

Ian Dean is Editor, Digital Arts & 3D at Creative Bloq, and the former editor of many leading magazines. These titles included ImagineFX, 3D World and video game titles Play and Official PlayStation Magazine. Ian launched Xbox magazine X360 and edited PlayStation World. For Creative Bloq, Ian combines his experiences to bring the latest news on digital art, VFX and video games and tech, and in his spare time he doodles in Procreate, ArtRage, and Rebelle while finding time to play Xbox and PS5.