How the best investors spend their time
Plus: Meta vs the decentralized metaverse & non-fungible culture!
New to crypto? Cryptocurrency Basics is a 9 minute video that serves as a great intro to the world of crypto. It’s part of our Crypto and Web3 for Absolute Beginners course.
Welcome to another week of crypto coverage — this time while many of your portfolios are in the green for a nice change! So much awesome content came out of the weekend that I couldn’t possibly include here… but the things that I did choose to include should bring you some value. It’s hard to believe we’re only 3 subscribers away from 300 amazing readers already! You are sharing the most interesting issues with your friends and fam riiiiight?!
In this issue:
How the best investors spend their time
Meta vs the decentralized metaverse
Non-fungible culture
NITRO! (3 can’t-miss things)
Tools
Jasper is my writing tool of choice. If you want to harness artificial intelligence to make it fast and easy to create content for your blog, social media, website, emails and more then check Jasper out here!
How the best investors spend their time
Someone I know who got super interested in crypto has been mostly relying on asking me questions about what they should do with their crypto investments. How much should they put in? Now that things are in the green again is it time to cash out? What’s the best strategy for… the list goes on. Out of the 2 of us I clearly have the most crypto knowledge and experience and it’s not a coincidence. I’ve done more homework.
Forget reading articles — I’ve read books. Forget asking friends for crypto advice — I’ve paid for access to premium communities. Forget listening to my intuition — I’ve listened to countless hours of podcasts. I don’t just absorb what I can from my own personal crypto experience… I absorb what I can from as many other people’s experiences as I can.
What I’m driving at here is this: if you’re going to invest your money in crypto don’t just invest your money. Also invest your time. Why? Let’s ask Naval:
People who don’t invest time and only invest money are always in a panic mode of sorts. When things are red they panic because they haven’t bothered to understand history, current events, the assets they’ve invested in, etc. When things are green they panic because they don’t want things to go red again and they have no chill.
Read more. If you won’t take my word for it… take Naval’s (he would know).
Meta vs the decentralized metaverse
Some guy recently pointed out that $META (formerly Facebook) had seen it’s stock value drop by 30% over the last week while decentralized metaverse-related crypto projects like $MANA, $SAND and $AXS had gone up by nearly 30% over the same period. This info makes for a great tweet but I’m not sure I 100% agree with the conclusion:
Moral of the story? The MetaVerse will be decentralized.
Hmm. No. I don’t so. I could be wrong but I think it’s obvious that there are going to be several competing metaverse experiences to, well, experience as the future builds out over the coming decade. It’s not like there’s Facebook’s Meta’s metaverse and “crypto’s” metaverse. Other web2 giants will want to get in on the action (Apple for one) and the various iterations of crypto-powered metaverse experiences will likely come and go with only the truly useful or novel ones showing any real staying power.
It’s easy to try to dunk on Meta because of their recent stock slide but I think in reality they will end up gobbling up more mindshare than the hardcore crypto crowd would like. For the record I don’t want Meta to succeed. I’ve never been a Facebook fan and a change of name hasn’t suddenly made them better or cooler in my estimation.
The thing is: hardware. Until Apple fields their AR/VR product(s) Meta’s Oculus purchase means that they have the best VR headset on the market. I’ve been using it. It’s not amazing and the resolution leaves a lot to be desired but the Star Wars experiences have genuinely been fun. Really fun. Nothing else on the platform has really grabbed me in the same way but no 2D crypto metaverse experience comes close at this point. I’m hoping that Apple, who at least claims to care about privacy, provides a better hardware-based “window” into the future crypto-powered web of metaverse experiences… but both Apple and Facebook might not end up being crypto friendly platforms in the long run.
Let’s just end this section by saying: this space is still young.
Non-fungible culture
Good ol’ Andrew put out an interesting tweet today:
Fascinating to think about NFTs through this lens. I know I’ve been caught saying community is everything in crypto (both in my crypto course and in this newsletter) but it feels just as right to say that culture is everything too. Honestly, it’s saying the same thing in different ways because you can’t have culture without a community.
To riff off Andrew’s list I’d add that all of his bullet points revolve around showing other people (in a community you’d like to be a part of) what you like or what you’re all about. Just like buying a certain t-shirt or certain pair of shoes or certain car signals your taste or interests IRL, an NFT does the same in the digital realm.
Yes — money is involved… it’s part of the NFT equation — but there is in-fact no monetary value if you remove the cultural component(s).
For a deeper dive be sure to check out the thread in today’s NITRO!
NITRO!
Cool: Portal — a curated board of the most exciting and rewarding opportunities in web3.
News: New Social Media Platform Turns to NFTs for Digital Ownership
Thread: the NFT Hierarchy of Needs and how NFTs change who we are
Tools
Twitter: where I post some epic threads on subjects like avoiding scams, profiting from crypto, Bitcoin vs gold and more!
TrendSpider: technical analysis software to speed up your analysis, automate grunt work, find winning chart setups and reduce costly analysis mistakes.
Paybis: buy Bitcoin and other assets with a credit or debit card.
Note: Chris is not a registered investment advisor. All opinion’s are Chris’ and nothing discussed in this newsletter or associated properties should be relied upon for investment decisions nor is it investment advice. This content is solely for information and entertainment purposes only. Please work directly with an investment professional.
See you tomorrow!