The Russian chess grandmaster Garry Kasparov, who is also chairman of the Human Rights Foundation (HRF), is completely unimpressed by the current bear market. Kasparov, who has been outing himself as a supporter of Bitcoin for a long time, comments on the current crisis on the crypto market in the exclusive Cointelegraph interview at Consensus 2022 very succinctly with the words “so what”. Anyway, the former world chess champion finds that 99% of all other cryptocurrencies are “scrap”. However, he already sees Bitcoin (BTC) and Ethereum (ETH) firmly anchored in the global financial system:
“They may lose a little more, but they will also gain more, which clearly shows that these two are already firmly integrated into the financial system. That’s the whole story of the stock market. First a lot of people make a lot of money, then they lose a lot of money. Without it ever being recognized, it is now clear that the financial system has internalized Bitcoin, Ethereum and other cryptocurrencies.“
NFT market will recover again
In addition, Kasparov is confident that the market of non-fungible tokens (NFTs) will also make a comeback soon. Although the hyped asset class has lost a lot of ground again in recent weeks and months compared to its peak times, Kasparov is firmly convinced that the increasing digitization of the world will also help this influential niche of the crypto industry to get back on its feet in the future.
In this context, the chess grandmaster also talks about his own NFT collection, which he published last December on the 1Kind marketplace. According to him, with this project he first wanted to understand how the NFT market works, in addition, Kasparov wanted to record his life in digital form:
“I think the collection is quite unique. This is probably the first attempt to present my whole life in full, from my early childhood to my successes as a professional chess player to my commitment as a human rights activist.“
As Kasparov points out, for example, the game form of his infamous game against the Soviet grandmaster Anatoly Karpov has already been auctioned for a whopping 51 ETH: “The most important item in my collection was this game form from November 9, 1985, when I became world Chess champion.“