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New markets can be very rewarding. That being said they are extremely volatile & can be your one way ticket to bankruptcy.
Non-Fungible Tokens are digital assets that are individually unique. Simplified this could be an MP3 File (song), A JPG image or even an MP4 Video file. That file is stored and secured on a cryptocurrency network for only you to access & Interact with.
Why Is This Important?
NFTs have been around since 2018. The Recent Buzz started when the NBA Top Shots platform from Dapper Labs created a ton of noise in the space by landing a deal with the NBA for crypto NFTs. It wasn't long until you began seeing “Digital Art” Pieces from artists like “Beeple” selling for Millions of Dollars. Now even Celebrities like Patrick Mahomes, The Weeknd & Gary Vee have launched their own NFT Projects.
This has created an entirely NEW Market of Traders, Speculators & Investors with Volume Numbers well over a Measly $100 Million in ETH/USDT this month alone.
With the Stock Market, Ethereum & Bitcoin Prices at all time highs.. the world is adjusting and adopting these technologies by putting their money where their mouths are. Recently within the last year we have seen MasterCard offer a credit card partnered with the Gemini Exchange offering Crypto Currency rewards.
Institutional exposure to crypto is slowly becoming the baseline with the announcement of Globex Futures for ETH & BTC. Large Cap Tech Companies like Tesla & Square have publicly added bitcoin on to their Balance Sheets.
So what does this mean for the future of crypto? Where do NFTs come to play in this? What do you look for then when you are looking to buy into an NFT project? Where do you buy? How do you buy? This Letter will be answering these questions for you.
With Ethereum at all time highs Gas Fees (The Cost of using the Eth Network) are also at all time highs.
See Below
So, What does this mean for NFTs?
These Fees make using & interacting with these projects built on them almost impossible. It is not efficient for a gaming company or large scale platform that needs to send about 100,000 transactions a day. These problems will persist and will be solved by competition or other means of innovation.
This Letter will not be investment advice. As a Trader I let the market talk to me. More or less I will be opening my vault of knowledge that I have picked up as an early adopter of these technologies. I also have had the luxury to Network with Many of the inspirational innovators in this space who are working on these insane projects. I now have the luxury of communicating all of this to you, the Community Member.
We all want to make money but I think there is something to be said for making it responsibly. Staying up to date with the most recent up to date news & data on these projects could potentially be extremely valuable.
Some Notable Guests have come on our affiliate Podcast to discuss NFTs & Cryptocurrency with My Brother Ray & Grandfather JJ. (@marketmakersins)
Dallas Mavs Owner Mark Cuban
Miami Mayor Francis Suarez
CEO of Valuetainment Patrick Bet David
Bitcoin Expert Anthony Pompliano
Subscribe to get full access to the newsletter and stay up to date with all news related to NFTs. Will be having other experts from the industry who you will meet to drop some gems for you guys!
Feel free to also join our community discord for projects where you can learn and chat amongst other’s in the community: https://discord.gg/nkd5X9u9 & Follow us on twitter @NFTBlockchain.
Welcome to The Value Newsletter and Podcast :)
