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Talking points:
So just to make sure everyone watching is on the same page, NFT stands for non-fungible token and are assets that are enabled by blockchain technology.
Assets like Bitcoin are fungible because every Bitcoin is interchangeable, meaning you don’t necessarily care which Bitcoin you get because they are all the same value.
Not so with NFTs because each one is supposed to be unique, that’s why you create something as an NFT.
So Joel just off the top of your head can you list a few of the categories that NFTs fall into.
Digital art
Digital collectables
Sports
Playable NFTs (in-game items)
Others?
Is it simply the accessibility of NFTs that is powering their surge of investment?
Art investing has typically been seen as the exclusive realm of the super rich and there have been attempts to allow people to invest in fractions of an artwork, but NFTs make that so much easier.
I’d say that the NFT space is deserving of the hype considering that total sales of NFTs reached $2.5b in the first half of 2021 alone.
I’ve done a few Sunday Specials on NFTs so far and if the viewers haven’t seen those then the numbers I just gave likely trigger the same question in everyone's mind which is “OK, there’s money to be made here, how do I get some?”
Create your own NFTs? (probably not everyones cup of tea, plus very high risk if you don’t know what you’re doing)
Invest in an NFT collection (perhaps an obvious answer but there are so many, which one to invest in?)
There are often many thousands of variants within a collection like Doja Cat having two tiers of tokens and 26,000 collectables.
It was bad enough figuring out which crypto assets to invest in out of the 11,000 available, now we have all these NFT collections, each one with thousands of unique assets in each.
So it’s got to the point no where investors need some real help in this area so you are heading up a new research service dedicated to NFT investing right?
And this is going to be a paid newsletter that is published on a regular basis?
Has the frequency been decided yet?
Does this service have a name yet?
When is it planning to launch?
What are the newsletters going to contain?
You said to me that it will contain strategy and insights, can you unpack that a bit?
NFT artwork collections typically have a number of ‘traits’ that result in the thousands of variations, but it seems there’s no way to predict which traits will become desirable, is there?
I have reason to believe that the surge in NFT investing has something to do with a large amount of capital seeking returns.
Do you have any thoughts on that?
▶️ 3Speak
