Metaverse lots worth... lots!
Plus: why crypto's time is NOW & what crypto noobs see first...
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.
Have you ever wondered where a great virtual neighborhood was in the crypto metaverse in terms of investment ROI? Have you ever found yourself wishing for an easy way to understand the growth of the crypto industry? And do you remember what it was like being a crypto noob? Wonder no longer my friend because TGO is here to make you smarter.
In this issue:
Metaverse lots worth… lots!
Why crypto’s time is NOW!
What crypto noobs see first!
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, etc. then check Jasper out here!
Metaverse lots worth… lots!
It’s been awhile since I talked about metaversal investments, hasn’t it? I came across an interesting article recently that talked about a group of investors who were investing in virtual real estate in The Sandbox (using a virtual real estate broker nonetheless):
Chris Adamo considers himself late to the game when it comes to investing in NFTs, or non-fungible tokens. He collected his first one in summer 2021. But when it comes to buying up property in the metaverse, Adamo is early. Eight months ago, the Miami-based venture capitalist and a group of associates calling themselves the MetaCollective DAO used a virtual real estate broker to buy 23 parcels in The Sandbox, a user-generated, blockchain-based virtual world, for prices starting at 1ETH (about $3,000). A nearby property sold for about 42ETH, or $130,000.
Does the oft-repeated IRL real estate mantra, “Location, location, location,” apply in virtual space as well? Adamo seems to think so:
“It’s like the New York City of The Sandbox,” Adamo says. “Like the Lower East Side or Soho right now.” Translation: it’s hip—or at least, they are invested in believing it can be.
Why crypto’s time is NOW!
Wells Fargo recently put out a report that said the following as reported by Cointelegraph:
According to the banking giant, the technology behind crypto is following an adoption path similar to that of the internet in the early-to-mid 1990s, when “consumers still needed time to figure out what the technology is, what it can do and how it can benefit them.” However, like the internet, the rising number of crypto users suggests “the world is beginning to embrace the technology — and quickly.” According to a Crypto.com study from July, the number of global crypto users more than doubled from 100 million in January 2021 to 221 million in June.
“If this trend continues, cryptocurrencies could soon exit the early adoption phase and enter an inflection point of hyper-adoption, similar to other technologies,” said the report. “There is a point where adoption rates begin to rise and do not look back [...] Precise numbers aside, there is no doubt that global cryptocurrency adoption is rising, and could soon hit a hyper-inflection point.”
This isn’t the first time I’ve seen comparison’s between the rate of crypto adoption vs the rate of early Internet adoption. These numbers are very telling (and very exciting). Also: just the fact that large institutions showing interest in crypto is very bullish as well.
As Scott Melker notes in his latest newsletter:
KPMG said “hold my beer” and added both Bitcoin and Ethereum to their balance sheet.
Incredible.
They are HUGE. KPMG is the 4th largest accounting firm in the world, with over 75 offices, 40,000 employees and partners, and a market cap of over $30B. The size and importance of this company cannot be understated.
What crypto noobs see first!
If you’re someone who is already really into crypto it’s easy to forget what it’s like to be a newcomer. I ran into a tech journalist’s tweet recently that reminded me that not everyone has a pleasant first experience with crypto:
Before crypto can and does go mainstream there are still plenty of kinks to work out (and opportunities for those who can help to work them out).
I remember when I first tried to buy something with Ethereum. Newton and I had similar experiences. I wonder though: how much of people’s frustrations come from just needing to learn a new system and how much potential frustration could be ironed out through education or better UX design?
At the moment I have no idea… but I do know that Casey had a reason to interact with Ethereum… and in many ways that is what matters the most. A person’s first experience with something obviously matters but in crypto’s case I think the kinks will get worked out in time — they have to because the interest is real.
NITRO!
Cool: Defi Llama TVL dashboard
News: Here Are All the Bitcoin and Crypto Companies Airing a Super Bowl Ad
Thread: A conversation about uncollateralized loans in emerging markets
Tools
Twitter — where I post some epic crypto threads and thoughts.
Paybis — buy Bitcoin and other assets quickly and simply with a credit or debit card.
TrendSpider — technical analysis software to speed up your analysis, automate grunt work, find winning chart setups and reduce costly analysis mistakes.
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!