Raymond Lai, AI & Risk Management Expert of Nicholas Actuarial Solutions in ILHAM's Digital Event

BANGSAR, Malaysia - March 31, 2022 - PRLog -- In the physical exhibition of 'NFTs: Art, Investment or Speculation? Its Impact on the Arts' organized by the Ministry of Tourism Malaysia, Raymond Lai, AI & Risk Management Expert of Nicholas Actuarial Solutions, Mohamed Dzariff & Prof. Ts. Dr. Muhamad Fairus Hj. Kamaruzaman shared advice and opinions on how digitalized arts would make an impact to the arts forum.

The market for non-fungible tokens (NFTs) surged to USD$41 billion in 2021, catching up to the total size of the global fine art market with a market value of USD$50 billion as of 2020. NFTs are projected to have a market capitalization of over USD$80 billion by year 2025. During the event, Raymond Lai shared his views, discussing a wide range of key factors faced by the investors and public.

'NFTs should be perceived as a long term investment similar to buying a property, an art piece that you can appreciate, a profile avatar that reflects your personality', said Raymond Lai. Raymond is the AI & Risk Management Expert of Nicholas Actuarial Solutions, a leading actuarial firm in Asia.

In the event, Raymond also shared the main reasons why NFTs will be the future. The boom of Metaverse which most technology companies such as META (previously Facebook) are moving in the next growth area. This allows users to experience a whole new virtual concept world that enables users to communicate and socialize with various other users across the globe.

Nicholas Actuarial Solutions is a technology focused actuarial firm. Established in Kuala Lumpur, Malaysia in 2015, it is now a leading actuarial firm in Asia with 5 offices in the region. Nicholas Actuarial Solutions is the first and only actuarial firm awarded MSC Malaysia status by the Malaysian government, a mark of world class service and achievement. In 2020, Nicholas Actuarial Solutions received the Quality Assurance Scheme (QAS) accreditation from the Institute and Faculty of Actuaries. The QAS mark is a clear signal of Nicholas Actuarial Solutions' commitment to the highest standards, giving both confidence to employees and a guarantee of quality to clients. In 2019, Nicholas Actuarial Solutions was awarded Top Actuarial Firm in Asia by Captive Review and shortlisted as a finalist for Risk Solution of the Year by Asia Pacific Risk Management Awards.