| Dear Paul, Celebrities, athletes and business leaders are spending hundreds of thousands of dollars on digital pictures of apes, monkeys, badgers and punks. NBA All-Star Steph Curry of the Golden State Warriors has a Bored Ape as his Twitter avatar. 
Hip-hop icon Jay-Z posted a CryptoPunk that looks just like him. And television personality Steve Harvey recently added a cartoon image of a monkey to his Twitter profile. These non-fungible tokens (or NFTs) don’t come cheap. The lowest price of a Bored Ape is now 40 Ethereum, or around $120,000. A CryptoPunk will set you back $400,000. A rare one is the cost of an oceanfront mansion. There are even fractionalized NFTs. If you can’t afford to spend $5 million on a zombie CryptoPunk, you can pool with other investors to own a piece. NFT mania has spurned dozens of new launches every day on the Ethereum, Solana and Tezos blockchains. It’s a digital gold rush. And today, I’ll explain what’s behind the surging demand for these digital goods.
Sponsored by Three Founders Publishing. Former CIA and Pentagon Advisor:
"Americans Should Do These 5 Things NOW"
 There's a little-known way Trump could — one day — have his revenge.
It involves a federal ruling he oversaw in the final year of his presidency that could change America forever … unleash an estimated $15.1 trillion in new wealth … and create countless ways for everyday Americans to benefit.
What is this little understood decision? And how will it impact you?
All the important facts are here.
Admission Into the Metaverse Won’t Come Cheap When I was 10 years old, I remember a classmate’s father picking him up from school in a red Ferrari. I can recall this day because it was the first time I recognized that there were families who had more material things than we did. Sociologist and economist Thorstein Veblen described it as conspicuous consumption. This explains why people (especially men) purchase luxury goods or services to display one’s income or wealth publicly. The thinking is, if you’re wearing an expensive watch or driving a fancy sports car, you belong to a superior social class. You’ve provided more value to the world, so you can purchase nicer things. I don’t generally agree with this philosophy but to each their own. This isn’t a new concept, and it didn’t start with yuppies driving Ferraris in the 1980s. Our ancestors loved ornate jewelry. And I’m sure the caveman with the largest saber-toothed tiger coat was the envy of their peers. Nowadays, people aspire to improve their digital image. Digital Ferraris According to Scotsman.com, the average person spends a whopping 8.5 hours a day online. Ask a teenager if they’d rather have 10,000 followers or $10,000 in the bank, and they’ll tell you the former. They might be onto something if they can figure out how to monetize that following. If your Twitter or Discord profile has a Degenerate Ape or a Lazy Lion, you were either early at spotting a new trend or have an extra $10,000 laying around that you don’t mind risking on a JPEG. It proves you have worth, one way or another. And if you’re willing to spend $120,000 on a Bored Ape, you can be one of 9,999 other people in the same rarified air as Steph Curry. But NFTs are going to be bigger than just flexing one’s digital self-worth. They’re more than just conspicuous digital consumption. That’s because two key technological breakthroughs are quickly transforming the metaverse: - A creator can earn a continuous stream of royalties without a middleman. Each time a CryptoPunk is sold, Larva Labs automatically takes a royalty payment on the transaction. Think of how this technology can be applied to music and videos. Digital creators will be able to cut out platforms like Spotify and Netflix and sell directly to the consumer.
- An NFT may give you access to exclusive content. Rather than signing in to a website in Web 3.0, we’ll self-credentialize by connecting a cryptocurrency wallet. The website will be able to look into your wallet but not know who the owner is. It will never need a password and will never store any type of payment mechanism, like a credit card. This will also allow websites to differentiate between users who don’t own a specific cryptocurrency or NFT.
Our lives are moving from the analog to the digital, and our consumption habits are too. Maybe it’s time to buy a digital Ferrari NFT while they’re still cheap. Regards,
Ian King
Editor, Strategic Fortunes P.S. Adam O’Dell is the chief investment strategist of our friends over at Money & Markets. Adam will be hosting a special live event on September 23, where he'll be revealing all the secrets of his incredible new investing strategy that has the potential to turn $1,000 into $5,000 in just 48 hours. You can reserve a FREE VIP spot by clicking here.  
    Privacy Policy
Smart Profits Daily, P.O. Box 8378, Delray Beach, FL 33482.
To unsubscribe from Smart Profits Daily emails, click here.
To ensure that you receive future issues of Smart Profits Daily, please add info@mb.banyanhill.com to your address book or whitelist within your spam settings. For customer service questions or issues, please contact us for assistance.
The mailbox associated with this email address is not monitored, so please do not reply. Your feedback is very important to us so if you would like to contact us with a question or comment, please click here: http://banyanhill.com/contact-us
Legal Notice: This work is based on what we've learned as financial journalists. It may contain errors and you should not base investment decisions solely on what you read here. It's your money and your responsibility. Nothing herein should be considered personalized investment advice. Although our employees may answer general customer service questions, they are not licensed to address your particular investment situation. Our track record is based on hypothetical results and may not reflect the same results as actual trades. Likewise, past performance is no guarantee of future returns. Certain investments carry large potential rewards but also large potential risk. Don't trade in these markets with money you can't afford to lose. Banyan Hill Publishing expressly forbids its writers from having a financial interest in their own securities or commodities recommendations to readers. Such recommendations may be traded, however, by other editors, Banyan Hill Publishing, its affiliated entities, employees, and agents, but only after waiting 24 hours after an internet broadcast or 72 hours after a publication only circulated through the mail.
(c) 2021 Banyan Hill Publishing. All Rights Reserved. Protected by copyright laws of the United States and treaties. This Newsletter may only be used pursuant to the subscription agreement. Any reproduction, copying, or redistribution, (electronic or otherwise) in whole or in part, is strictly prohibited without the express written permission of Banyan Hill Publishing. P.O. Box 8378, Delray Beach, FL 33482. (TEL: 866-584-4096)
| 
No comments:
Post a Comment