Are NFTs and meme coins assets, currencies, or something else entirely? According to White House AI and Crypto Czar David Sacks, they belong in their own category: “Collectibles.”
“Well, when you’re talking about digital assets, it can be multiple things,” Sacks said during a Fox Business interview on Thursday.
“I mean, you’ve got digital assets that are securities, you’ve got digital assets that are commodities, you’ve got digital assets that are collectibles like NFTs or meme coins. So you’re talking about a whole vast area of innovation.”
The distinction as a collectible could alter how NFTs and meme coins are perceived, potentially granting them legitimacy as assets with cultural and commemorative value rather than speculative risks.
Sacks also weighed in on the Solana-based Official Trump (TRUMP) meme coin, a token officially tied to President
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Author: Vismaya V
