Crypto Expert Chris Burniske Predicts Memecoins Will Surpass NFTs in Cultural Impact

Crypto expert Chris Burniske is excited about the future of memecoins in this digital asset market cycle. He recently shared his thoughts on the social media platform X, pointing out that memecoins have a unique ability to generate buzz. This suggests they might be bigger than we expect.

He remarked, “The cultural impact of some NFT collections in 2021 will be overshadowed by certain memecoins. I’m not here to promote any specific coin, but the trend is clear.”

As a partner at Placeholder, a venture capital firm, Burniske also sees a bright future for non-fungible tokens (NFTs). He explained, “While memecoins take the place of profile picture (PFP) NFT collections that were mostly about making money, true art and creative uses will come into focus for NFTs. This could lead to a renaissance in the NFT space. Such segmentation will help builders and creators connect better with their communities, while consumers can better understand the motivations behind the digital tribes they join.”

Last month, Burniske pointed out that conditions are aligning in favor of crypto as an asset class. He stated, “It’s not just about favorable rates and liquidity. It’s also about the growth of infrastructure, experimentation with new apps, and a significant increase in active users. In fact, active addresses have more than tripled over the last year. (Yes, addresses are just a proxy for users.)”

As of now, memecoins have a total market cap of $53.573 billion, while NFTs are valued at $24 billion. This shows a clear interest in both areas of the crypto market.