CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
  • Market Updates
  • BTC Analysis
  • ETH Analysis
  • XRP Analysis
  • Interviews
CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
Home » Crypto News » Tether Co-Founder Says There’s Money in NFTs for Metaverse

Tether Co-Founder Says There’s Money in NFTs for Metaverse

Author: Jordan Lyanchev

Last Updated Sep 13, 2021 @ 07:35

The NFT market has a lot of room to grow despite the 2021 success, envisioned one of the co-founders of Tether – William Quigley.

Getting your audio player ready...

William Quigley, who co-founded stablecoin Tether (USDT), thinks non-fungible tokens (NFTs) accessible in metaverses will hit annual sales above $10 trillion. He shared his thoughts about NFTs and metaverse with Bloomberg in an interview over the week.

When asked about the lush, blossoming NFT fields of 2021, Quigley said his sights are set on the mass market possibilities of the non-fungible blockchain technology:

“From a consumer-product standpoint, what’s interesting to me is not one NFT selling for $1 million, but a million NFTs being sold at $1 each. A brand-new business for digital collectibles. That seems to me to have longer legs and overall a bigger market.”

Quigley has some experience with NFTs himself. In addition to starting Tether, he started Worldwide Asset eXchange (WAX), a proof-of-stake blockchain specializing in non-fungible tokens, among other areas of development.

NFTs a $10 Trillion Market in Metaverse Alone, Tether Founder

He believes the annual revenue from sales of NFTs accessible in metaverses will be worth at least $10 trillion, telling Bloomberg he expects the market to be “orders of magnitude” larger than the current landscape for virtual items in video games:

“In video gaming the revenue model now is virtual items, and that’s a $175 billion business annually. I think the metaverse should be orders of magnitude more than that because it’s everything, it’s not just gaming.”

Think of the metaverse as a mesh of intelligibly networked virtual environments and enhancements to real-world spaces via augmented reality and the Internet of Things.

Facebook is building a native metaverse integrated with its other products, where co-workers who live in different time zones could use virtual reality to attend meetings and sit across from each other in a virtual city.

Meanwhile, Apple has its eye on augmented reality. CEO Tim Cook has tirelessly boosted the technology and its possibilities and says it’s an opportunity worth as much to the computer company as iPhone.

Metaverse Will be Filled with Unique Digital Items

This metaverse of digital capability spilling over into reality and drawing us into the virtual space will not be a bland user environment with standard apps and capabilities.

Instead, as a recent Reuters report envisions it, metaverse will be richly populated by the users with unique programmable tokens powered by the blockchain.

Quigley says:

“When it happens, it really is hard to imagine and hard to overstate the impact. I’m betting that the revenue model for the metaverse is going to be NFTs.”

In the metaverse, digital property rights, market facilities, and governance will not be enforced and supported by lawyers in conspiracy with armed enforcers as every society in history has developed hitherto.

Instead, these bulwarks of civilization will be assured by consensual participation in decentralized software protocols intelligently engineered to serve in the background as a vital utility with the broadest usefulness for developers to serve metaverse denizens.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Tags: Non-Fungible Token (NFT) Tether (USDT)
Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram

About The Author

Jordan Lyanchev
More posts by this author

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

Join Our Community

FacebookX YouTubeTelegram


Editorials
How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

11 Best Meme Coins to Watch in June 2025

11 Best Meme Coins to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

11 Best Crypto Presales to Consider in June 2025

11 Best Crypto Presales to Consider in June 2025

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

Join Our Newsletter
Become a CryptoPotato VIP
One Weekly Email Can Change Your Crypto Life.
Sign-up FREE to receive our extended weekly market update and coin analysis report
We NEVER send spam. You can unsubscribe at any time.
Invalid email address
Thanks for subscribing!
Footer Logo
About
Advertise on CryptoPotato
About Us | Contact Us | Careers
Editorial Policy
Terms of service | Privacy Policy | GDPR
More Sections
IEO List | Evaluations
Airdrops
Scholarship
Disclaimer
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
© Copyright CryptoPotato 2016 - 2025
Scroll to top
One Daily Email Can Change Your Crypto Life.

Sign-up FREE to receive our extended daily market update and coin analysis report

We never send SPAM. You can unsubscribe at any moment
Invalid email address
Thanks for subscribing!