Kroc
commented on
$Bitcoin (BTC.CC)$ $Ethereum (ETH.CC)$ $Block (SQ.US)$ $Coinbase (COIN.US)$ $Meta Platforms (FB.US)$
There have been lots of hype on NFTs recently. It is not surprising given that the Beeple NFT digital art piece, " The First 5000 Days" was sold for a whopping 69 million dollars. It was purchased by a Singaporean, Vignesh Sundaresan (Metakovan), who have the conviction that it would be worth a billion dollars in the future. Fun Fact: Beeple has not sold any of his digital art for more than $100 before this auction.
The origin of NFTs could be dated back to 2014 where bitcoin minted the coloured coins. In 2017, Cryptopunks and Cryptokitties was the impetus to pivot the NFTs market.
To have a feel of the prices in the digital NFTs market, you could check out the 10 most expensive digital art to date.
Considering that CryptoPunks was a project by Larva Labs to create 10000 uniquely generated characters using the Ethereum network through an algorithm. Ethereum is the second most popular blockchain after Bitcoin and has been used for commercial contracts.
They gave out all the characters for free at its launch in 2017- in the NFT world, it is called an NFT drop. Now some of them are worth millions of dollars- what a joy to be one of the frontrunners and get a character of the Cryptopunks to call our own.
Source: Pexels
So what exactly is NFT?
The term for it is non-fungible tokens and they are unique by themselves, that is backed by a multimedia file. It could be digital art, video, music tune, sound recording, a tweet (Jack Dorsey first tweet sold for $2.9 million) or even a blog post, etc.
The difference between an NFT and a bitcoin would be bitcoin is fungible. There is no difference between one from the other and that makes it exchangeable; Bitcoin is like digital gold. As for NFT, most of them are currently minted in the Ethereum network, it is an original token or one of its kind.
Therefore, once we buy an NFT token, it is similar to owning a baseball card or being an owner of an original painting. Scarcity brings demand and hence possibly higher prices in the future if we choose the right NFT- must have an eye to find the next Monet, Miro or Dali of the digital art world.
Source: Pexels- Mona Lisa is now under Public Domain
But it is important to note that the copyright still belongs to the original artist or creator. According to copyright laws, the creator would still hold the rights 70 years after his death, after which the rights belong to the public domain- everyone can use it. From a company's aspect, the copyright lasts 120 years from creation or 95 years from publication
So you could be the owner of the Picasso masterpiece- Guernica (1937)- but there could be others able to get an art print of it. There is no restriction on people downloading and printing the masterpiece. Any rights of use for commercial purposes would be attributed to the artist or creator; unless you have an agreement with the original creator with a share of the commercial rights.
Latest NFT Craze
The latest craze in the NFT market would be the Bored Ape Yacht Club (BAYC) by Yuga Labs- it is not related to the Bathing Ape brand. They came up with 10000 ape designs with some smoking a cigar or munching on a pizza and other creative whacky designs.
It was first launched on the 29th of April 2021, they were selling at 0.08 Ethereum a piece (Was around 180 USD then based on Ethereum conversion rate).
The owners of the ape not only have access to the commercial rights to their ape (BAYC owners still own the master rights) but they have access to their discord server to mingle and hang out which includes celebrities such as Stephen Curry.
It is akin to you buying into a special membership club.
Current prices in just 6 months are hovering around the floor of $100,000 to the higher end of 3.4 million dollars. These are stratospheric returns by any measure.
Is NFT a possible Alternative Investment for me?
This is currently a wild wild west environment and the sector is just kicking off which have not reached mainstream status. Thus, you are not too late into the NFTs investment arena. However, gas fees and admin fees are kind of sky-high at this juncture- 10% to 15% or higher from the total value of the NFTs.
NFTs would qualify as a speculative investment as it is not tested through time. Nonetheless, it has pivoted the digital art market where previously it is tough to sell digital art as provenance was an issue- not many collectors would pay good money for digital art.
There are still many concerns we have given the nascent state of this market:
How safe is my digital art in the crypto wallet?
What are the NFTs worth investing in as there are many potential lemons out there?
Have I missed the boat given the huge surge in recent times?
How easy is it to offload the NFTs when I have liquidity issues?
To counter most of the issues on hand, we could look into established NFTs providers such as BAYC. They have come up with Bored Ape Kennel Club and Mutual Ape Yacht Club knowing that the initial apes are off the reach of normal collectors and investors.
Bored Ape Kennel is selling at less than $15000 (1-4 Ethereum) whereas Mutual Ape are selling at 3-6 Ethereum.
If we look into the apes, there are potential for companies such as APPLE, Samsung or Starbucks to buy some of the apes and use them in their marketing campaign and merchandise, as they have the commercial rights to the apes they bought.
So it would generate decent returns from a commercial point of view as compared to individual investors (We could have prints of t-shirts of our apes?), who have to hope for capital gains.
Also, Facebook is now going all-in for the metaverse, which is a virtual and augmented reality world by their name change to Meta. Digital assets could be really valuable in the future, where I could loan my digital art to the digital museum or hang my multi-million dollars digital art in my virtual office to impress my clients and friends.
Therefore, the possibilities are up to your imagination.
As with all investments, it comes with risks, and NFTs risks are much greater than the usual conventional financial instruments- Stocks, Bonds, Gold, etc.
So be prepared to lose it all would be a good mindset for this new frontier in alternative investment.
Happy NFTing.
There have been lots of hype on NFTs recently. It is not surprising given that the Beeple NFT digital art piece, " The First 5000 Days" was sold for a whopping 69 million dollars. It was purchased by a Singaporean, Vignesh Sundaresan (Metakovan), who have the conviction that it would be worth a billion dollars in the future. Fun Fact: Beeple has not sold any of his digital art for more than $100 before this auction.
The origin of NFTs could be dated back to 2014 where bitcoin minted the coloured coins. In 2017, Cryptopunks and Cryptokitties was the impetus to pivot the NFTs market.
To have a feel of the prices in the digital NFTs market, you could check out the 10 most expensive digital art to date.
Considering that CryptoPunks was a project by Larva Labs to create 10000 uniquely generated characters using the Ethereum network through an algorithm. Ethereum is the second most popular blockchain after Bitcoin and has been used for commercial contracts.
They gave out all the characters for free at its launch in 2017- in the NFT world, it is called an NFT drop. Now some of them are worth millions of dollars- what a joy to be one of the frontrunners and get a character of the Cryptopunks to call our own.
Source: Pexels
So what exactly is NFT?
The term for it is non-fungible tokens and they are unique by themselves, that is backed by a multimedia file. It could be digital art, video, music tune, sound recording, a tweet (Jack Dorsey first tweet sold for $2.9 million) or even a blog post, etc.
The difference between an NFT and a bitcoin would be bitcoin is fungible. There is no difference between one from the other and that makes it exchangeable; Bitcoin is like digital gold. As for NFT, most of them are currently minted in the Ethereum network, it is an original token or one of its kind.
Therefore, once we buy an NFT token, it is similar to owning a baseball card or being an owner of an original painting. Scarcity brings demand and hence possibly higher prices in the future if we choose the right NFT- must have an eye to find the next Monet, Miro or Dali of the digital art world.
Source: Pexels- Mona Lisa is now under Public Domain
But it is important to note that the copyright still belongs to the original artist or creator. According to copyright laws, the creator would still hold the rights 70 years after his death, after which the rights belong to the public domain- everyone can use it. From a company's aspect, the copyright lasts 120 years from creation or 95 years from publication
So you could be the owner of the Picasso masterpiece- Guernica (1937)- but there could be others able to get an art print of it. There is no restriction on people downloading and printing the masterpiece. Any rights of use for commercial purposes would be attributed to the artist or creator; unless you have an agreement with the original creator with a share of the commercial rights.
Latest NFT Craze
The latest craze in the NFT market would be the Bored Ape Yacht Club (BAYC) by Yuga Labs- it is not related to the Bathing Ape brand. They came up with 10000 ape designs with some smoking a cigar or munching on a pizza and other creative whacky designs.
It was first launched on the 29th of April 2021, they were selling at 0.08 Ethereum a piece (Was around 180 USD then based on Ethereum conversion rate).
The owners of the ape not only have access to the commercial rights to their ape (BAYC owners still own the master rights) but they have access to their discord server to mingle and hang out which includes celebrities such as Stephen Curry.
It is akin to you buying into a special membership club.
Current prices in just 6 months are hovering around the floor of $100,000 to the higher end of 3.4 million dollars. These are stratospheric returns by any measure.
Is NFT a possible Alternative Investment for me?
This is currently a wild wild west environment and the sector is just kicking off which have not reached mainstream status. Thus, you are not too late into the NFTs investment arena. However, gas fees and admin fees are kind of sky-high at this juncture- 10% to 15% or higher from the total value of the NFTs.
NFTs would qualify as a speculative investment as it is not tested through time. Nonetheless, it has pivoted the digital art market where previously it is tough to sell digital art as provenance was an issue- not many collectors would pay good money for digital art.
There are still many concerns we have given the nascent state of this market:
How safe is my digital art in the crypto wallet?
What are the NFTs worth investing in as there are many potential lemons out there?
Have I missed the boat given the huge surge in recent times?
How easy is it to offload the NFTs when I have liquidity issues?
To counter most of the issues on hand, we could look into established NFTs providers such as BAYC. They have come up with Bored Ape Kennel Club and Mutual Ape Yacht Club knowing that the initial apes are off the reach of normal collectors and investors.
Bored Ape Kennel is selling at less than $15000 (1-4 Ethereum) whereas Mutual Ape are selling at 3-6 Ethereum.
If we look into the apes, there are potential for companies such as APPLE, Samsung or Starbucks to buy some of the apes and use them in their marketing campaign and merchandise, as they have the commercial rights to the apes they bought.
So it would generate decent returns from a commercial point of view as compared to individual investors (We could have prints of t-shirts of our apes?), who have to hope for capital gains.
Also, Facebook is now going all-in for the metaverse, which is a virtual and augmented reality world by their name change to Meta. Digital assets could be really valuable in the future, where I could loan my digital art to the digital museum or hang my multi-million dollars digital art in my virtual office to impress my clients and friends.
Therefore, the possibilities are up to your imagination.
As with all investments, it comes with risks, and NFTs risks are much greater than the usual conventional financial instruments- Stocks, Bonds, Gold, etc.
So be prepared to lose it all would be a good mindset for this new frontier in alternative investment.
Happy NFTing.
+1
12
4
Kroc
reacted to and voted
moomoo annual ceremony is happening right now!
Check it out here:
2021 in Review: Grow Together to the Moon!
When can I get the vaccine? One of the most-searched questions on Google indicates people's biggest worry in 2021. However, it's an entirely different story for vaccine stocks holders. Sometimes they want the market sentiments to be different because they found that the line in the cases-versus-price graph increases exponentially.
Instead of getting vaccinated, investors stared at news channels. They tried to find the next catalyst for a strong momentum of growth. Are they speculating? Yes, they are. Maybe you'd like to join them if you look at the cost-benefit ratio or the daily performance of the trending vaccine stocks.
Anyway, I sincerely hope that the vaccines will be enough for every mooer![]()
. Sufficient supply also indicates healthy cash flows... Oh, I mean, the virus might stop spreading if most of us are vaccinated.
We also hope that the vaccine stocks could become value stocks with solid business models and stable cash flows one day. In that case, there will be no need for us to be on tenterhooks all day, waiting for monthly job reports or the infection numbers anymore.
Well, unless you enjoy the extreme volatility of the sudden outbreaks and are confident that you can profit from the biotech stocks shortly.
Did you get the vaccine?
Do you think the word "Vaccine" here qualifies to be the word of the year?
If you've got better ideas, please comment below to let us know.
You May Also Like:
Word of the Year: Apes
Word of the Year: Musk
Check it out here:
2021 in Review: Grow Together to the Moon!
When can I get the vaccine? One of the most-searched questions on Google indicates people's biggest worry in 2021. However, it's an entirely different story for vaccine stocks holders. Sometimes they want the market sentiments to be different because they found that the line in the cases-versus-price graph increases exponentially.
Instead of getting vaccinated, investors stared at news channels. They tried to find the next catalyst for a strong momentum of growth. Are they speculating? Yes, they are. Maybe you'd like to join them if you look at the cost-benefit ratio or the daily performance of the trending vaccine stocks.
Anyway, I sincerely hope that the vaccines will be enough for every mooer
We also hope that the vaccine stocks could become value stocks with solid business models and stable cash flows one day. In that case, there will be no need for us to be on tenterhooks all day, waiting for monthly job reports or the infection numbers anymore.
Well, unless you enjoy the extreme volatility of the sudden outbreaks and are confident that you can profit from the biotech stocks shortly.
Did you get the vaccine?
Do you think the word "Vaccine" here qualifies to be the word of the year?
If you've got better ideas, please comment below to let us know.
You May Also Like:
Word of the Year: Apes
Word of the Year: Musk
140
15
Kroc
commented on and voted
Is this the year that digital assets went mainstream? Venture capital funds have poured about $30 billion into crypto, or more than in all previous years combined for the little more than decade-old technology. That's almost quadruple the previous high of around $8 billion in 2018.
As you can see, some firms have bet more on crypto. But is it an ideal choice for every retail investor?
The 5% rule of investing is a general investment philosophy that suggests an investor allocate no more than 5% of their portfolio to one investment security—especially those risky assets like crypto.
Do you agree or disagree with the 5% rule?
Did you put more money into any crypto-currency this year?
As you can see, some firms have bet more on crypto. But is it an ideal choice for every retail investor?
The 5% rule of investing is a general investment philosophy that suggests an investor allocate no more than 5% of their portfolio to one investment security—especially those risky assets like crypto.
Do you agree or disagree with the 5% rule?
Did you put more money into any crypto-currency this year?
101
7
Kroc
commented on
Sold stocks my Grandmother gave me. A good film business job and a good bookshop job sooner would have been wiser.
1
1
Kroc
commented on
On Monday, the day Elon Musk was named Time's Person of the Year, Senator Elizabeth Warren took to Twitter to comment on the tax code and its relationship with the CEO of $Tesla (TSLA.US)$ and SpaceX. ![]()
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Mr. Musk responded with a string of tweets, saying that he will pay more taxes than any American in history this year. "Don't spend it all at once… oh wait you did already," he wrote.![]()
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You remind me of when I was a kid and my friend's angry mom would just randomly yell at everyone for no reason."
—— Mr. Musk said.
Elon Musk is the world's richest person with a net worth of $251 billion, according to the Bloomberg Billionaires Index, with the majority of that wealth tied up in Tesla and his rocket company, Space Exploration Technologies Corp. He also has a reputation for making eyebrow-raising statements on Twitter, where he has more than 66 million followers.![]()
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Musk is compensated in stock awards and doesn't accept a cash salary from Tesla. Last month, he initiated a poll on Twitter asking people whether he should sell 10% of his Tesla holdings, which voters backed. Click here to read more about Musk's ongoing stock selling plan![]()
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Mooers, what do you think of this 'war of words' between Musk and Warren?![]()
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Source: THE WALL STREET JOURNAL, Bloomberg, NPR
Mr. Musk responded with a string of tweets, saying that he will pay more taxes than any American in history this year. "Don't spend it all at once… oh wait you did already," he wrote.
You remind me of when I was a kid and my friend's angry mom would just randomly yell at everyone for no reason."
—— Mr. Musk said.
Elon Musk is the world's richest person with a net worth of $251 billion, according to the Bloomberg Billionaires Index, with the majority of that wealth tied up in Tesla and his rocket company, Space Exploration Technologies Corp. He also has a reputation for making eyebrow-raising statements on Twitter, where he has more than 66 million followers.
Musk is compensated in stock awards and doesn't accept a cash salary from Tesla. Last month, he initiated a poll on Twitter asking people whether he should sell 10% of his Tesla holdings, which voters backed. Click here to read more about Musk's ongoing stock selling plan
Mooers, what do you think of this 'war of words' between Musk and Warren?
Source: THE WALL STREET JOURNAL, Bloomberg, NPR
67
29
Kroc
voted
Elon Musk has consistently supported $Dogecoin (DOGE.CC)$ , a meme-inspired cryptocurrency. He's invested in it, along with $Bitcoin (BTC.CC)$ and $Ethereum (ETH.CC)$ .
Musk sees dogecoin as the best cryptocurrency to transact with.
"Fundamentally, bitcoin is not a good substitute for transactional currency,"
Musk told Time Magazine after being named Time's 2021 Person of the Year.
"Even though it was created as a silly joke, dogecoin is better suited for transactions."
The price of Bitcoin soon took a dive after the interview.
Any thought on Musk's word? Will his opinion push you to buy/sell any related cryptocurrency?
Musk sees dogecoin as the best cryptocurrency to transact with.
"Fundamentally, bitcoin is not a good substitute for transactional currency,"
Musk told Time Magazine after being named Time's 2021 Person of the Year.
"Even though it was created as a silly joke, dogecoin is better suited for transactions."
The price of Bitcoin soon took a dive after the interview.
Any thought on Musk's word? Will his opinion push you to buy/sell any related cryptocurrency?
138
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![[loading]](data:image/svg+xml;base64,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)
Kroc : Give it 6 months to a year... NFTs will be a thing of the past.