Saxo Bank’s “Outrageous Forecast” on NFT Platforms

Danish Saxo Bank has released 10 “outrageous predictions” for the next year, among others predicting that digital rights platforms based on non-fungible tokens (NFTs) could undermine Spotify’s strong position in the global music distribution industry.

Danish Saxo Bank publishes 10 “outrageous forecasts”About NFT

The bank said in a statement that its forecasts focus on various unlikely but underestimated events that, if they occur, could cause a shock to global financial markets.

“Musicians are ready for a change as the current music streaming paradigm means that labels and streaming platforms receive 75-95 percent of the revenue they spend on streaming music. In 2022, new blockchain-based technology will help them reclaim their fair share of the industry’s revenues, ”said the Danish bank.

Saxo Bank claims that while the early days of NFT could be considered “chaotic and dangerous for asset buyers, the outlook for the technology is bright.”

“The NFT-based platform offers not only a new way of verifying ownership of rights, but also a way of distributing rights without intermediaries, that is, a completely decentralized system that eliminates the need for a centralized platform,” says Saxo Bank.

The forecast says that many musicians feel that the revenue-sharing models of existing streaming platforms are being treated unfairly, and this could increase the usability of NFT-based platforms.

Saxo Bank’s script will launch an NFT-based service next year, starting to offer music from famous stars such as Katy Perry, The Chainsmokers and Jason Derulo. Other famous artists will follow in the footsteps of the stars by filming their music from “traditional” streaming platforms.

As a result, investors are beginning to perceive the future of Spotify as bleak, and the platform’s shares are forecast to drop 33% in 2022.

This is just one of their “outrageous” predictions. Other:

  • An attempt by Meta, Facebook’s parent company, to bring youth back through the Metaverse, will fail as the group continues to ditch their platforms in protest against the extraction of personal information for profit;
  • Reddit’s army of female traders will launch a coordinated attack on companies with a weak gender equality record, causing huge swings in target companies’ stock prices;
  • EU to launch a $ 3 trillion Climate, Energy and Defense Superfund funded through pension contributions rather than new taxes;
  • A plan to phase out fossil fuels will be jeopardized: politicians will support investment in fossil fuels to fight inflation;
  • US inflation to exceed 15% in a wage-price spiral;
  • US midterm elections will bring constitutional crisis;
  • India will join the Gulf Cooperation Council as a non-voting member;
  • New hypersonic technologies will set in motion the space race and a new Cold War – a massive hypersonic arms race will develop among the main military forces, as no country wants to feel left out;
  • The medical breakthrough will increase life expectancy by 25 years, “triggering predictable ethical, environmental and financial crises of epic proportions.

Saxo Bank says it provides services to approximately 810,000 customers worldwide with over $ 80 billion in customer assets.

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