Self Made Multi Millionaires Fahad Al Sufayeh & Omid Rahravani Are Witnessing & Experiencing Again The Year 2000 Dotcom Boom Predicting There Will Be a “Consolidation Phase”
Palo Alto , California
Fahad Al Sufayeh & Omid Rahravani have become international business celebrities after creating their massive wealth digitally , they have been featured on many American and International media publications such as MarketWatch, Benzinga, Silicon Valley Times, Gulf Business, Digital Journal, Bloomberg BusinessWeek, Yahoo finance and many more , sharing their success story . Since the launch of their company in 2006 they have been on a mission expanding their influence globally , exploring many industries and brokering hundreds of millions of dollars worth of technology contracts estimated anywhere close to a billion dollars .
They both have accomplished a long history of success introducing US technologies to the Middle East over the many years and have demonstrated their passion for investing in startups, especially at seed and growth stages , offering startup opportunities to their exclusive network of ultra-high net worth individuals around the world. It has been rumored and speculated that Fahad Al Sufayeh and Omid Rahravani have an estimated combined net worth valuation of $450 million dollars , most of their Fortune was generated from the stock market and cryptocurrency .
Fahad & Omid expressed to Lavish Life Magazine their opinion on Cryptocurrency Market “We are now witnessing the same scenario happening in the crypto space similar in comparison to the dotcom boom in the year 2000” They believe that Crypto is going through a temporary interval as the internet went through decades ago . These two iconic entrepreneurs and investors believe that people don’t need NFTs or DeFi on every chain . During the dotcom boom internet startups behaved similarly , they were launching copycat products and promising massive returns before the internet bubble bursted leading to investor fortunes disappearing .
After everyone witnessed the recent surge of “exciting” blockchain-based innovations in the crypto space during and after the pandemic such as (NFTs) and (DeFi) , there has been an imitation phase , where new blockchains copy existing popular applications , bringing a variation of the same thing to market . Fahad Al Sufayeh and Omid Rahravani believe eventually there will be a consolidation phase coming next , resulting to copycat blockchains dying out.
There will also be blockchains that , instead of dying out will get acquired or merge. They see the biggest opportunity in the strategies of crypto companies and blockchains using smart contracts, or the collections of code that execute a set of instructions on the blockchain . Companies that improve productivity and profitability using smart contracts will gain a competitive advantage , those chains will most likely survive if their strategies are implemented correctly .
By Lavish Life Publication Editorial Team
