NFTs can be utilized to improve the current financial system

NFTs can be utilized to improve the current financial system

You may have a rough idea of what an NFT is: a virtual document that conveys some ownership of a virtual good. As with their cousins, cryptocurrencies, NFTs have the potential to be quite valuable: If you had bought the right NFT–say, a CryptoPunks or BoredApeYachtClub cartoon–at the right time, you could have made a fortune.

The role of NFTs has the potential to balloon as they expand beyond a high-stakes investment product into a tool for establishing identity, ownership, and even community.

NFTs are more than just JPEGs.

Innovations in NFTs could affect how we store wealth for future generations, especially as digitization picks up speed.

The use of NFTs on a regular basis is imminent. Whether you want to believe it or not, businesses and brands are packing up and moving into the Metaverse or “web3” at an exponential rate. NFT’s even have the potential to displace the institutions that currently surround financial systems.

The need to improve the current financial system

More than 45 years ago, governments all over the world debased their currencies without the support of gold. Both developed and developing governments have repeatedly failed or had to be bailed out by their central banks by issuing an increasing amount of fiat currency.

This has resulted in global economic collapse due to rising leverage, negative interest rates, significant debt, currency devaluations, and repeated defaults.

Utilizing blockchain in the current financial system

Blockchain technology has already been adopted by many institutions and it continues to present the perfect opportunity to right errors in the current financial system, which is what the Gold Silver Standard aims to achieve.

Once again, money can be based on something unbreakable, unlike the current ‘government promise’ backed FIAT system. This means a system where the standard is underpinned by the same currency that society has recognized for millennia – gold.

Enter Gold Silver Standard

Gold Silver Standard was founded upon a simple but profound guiding principle – create a decentralized store of value for the digital world. Their gold and silver backed NFTs easily allow both private and institutional money to enter and accelerate the transition to the Metaverse.

This means that brands, companies, teams, or anyone else can utilize NFTs that are backed by real value and then build their community upon a solid base. For anyone seeking the seamless fusion of rare collectible art with the security and value floor of hard asset backing, Gold Silver Standard NFTs are the ideal choice.

Gold Silver Standard upholds the original philosophical ideologies that sparked the crypto and NFT revolution in addition to offering investors and institutions onramps. In fact, the NFT community is coming together under the banner of financial freedom thanks to Gold Silver Standard.

Gold & Silver Standard

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Published Tue, 13 Sep 2022 00:24:38 -0500

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