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Below is quote on Crypto Market is Falling so what is the Impact on NFTs by Ramkumar Subramaniam, CEO & Co-founder, GuardianLink.

It cannot be denied that the world of crypto is going through one of its most challenging pieces right now. Bitcoin which was considered to be one of the most dependable investments a couple of years ago has started to plummet in its value. Some of the most prominent crypto coins like Ether (of the Ethereum blockchain) have started to experience tremors in their value at dependability.

In all of this, it cannot be denied that the technology backing the coins and its manifestations have not been challenged in any way. Blockchain continues to be as secure as it was if not better! The same applies for NFTs which can be considered a manifestation of the blockchain technology and not cryptocurrency itself!

One thing to ponder is that cryptocurrency was always volatile. That does not come in anyway, affect the value or dependability of blockchain and its manifestation… Including NFTs!

NFTs are inherently valuable and they represent the digital equivalent of collectibles and unique creations… Or for the sake of simplicity, records. Just like the fluctuation of a certain type of currency does not alter the value of an artwork in any way, the fluctuations of crypto do not directly affect the market for NFTs in any manner.

Come to think of it, NFTs are not in any way connected to cryptocurrency… Except for the small but easily replaceable dependency on crypto payments. There have been platforms like GuardianLink that have done away with the need for paying for and trading of NFTs in crypto. It cannot be denied that a lot of NFT launches and marketplaces count on crypto payments. This might create an illusion that the crypto winter automatically translates to an NFT winter.

The crypto winter will do more good for NFTs than bad… Because it will serve as a catalyst to detach NFTs from cryptocurrency. Even if not for complete detachment, it will at least help in diluting the attachment, so people with fiat currency can also buy/trade NFTs. The entry of NFTs into the world of mainstream commerce will only serve to bring more people into trading and collecting NFTs!

People often say there is light at the end of the tunnel! When we look at the climate for NFTs with respect to the crypto venture, the entire tunnel is lit and the end of the tunnel looks brighter than ever!

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