WHOA! Crypto's got MOMENTUM right now!
Plus: 2 big investing blindspots to avoid and NFTs that act as real-world passes!
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.
We all know that at least one person who sneers when the crypto market goes down but don’t let their misunderstanding or doubt rain on your parade. You’re about to see how crypto is on a roll right now — despite the (predictable) January slump. Also, like headlights highlighting dangerous obstacles on the road I’m highlighted some investing speed bumps for you to watch out for along with some fun IRL NFT adoption. Let’s go!
In this issue:
Whoa! Crypto’s got MOMENTUM right now!
Avoiding 2 big investing blindspots
Coachella’s NFTs will act as real-world passes
Whoa! Crypto’s got momentum right now!
Someone recently asked me if I “felt bad” for “getting people into crypto” now that January has arrived and hasn’t been kind to crypto in the short term. I didn’t waste my time responding to someone who clearly knows nothing about the market but I’ll respond here. No. I don’t feel bad. Why?
When people look back at charts they see valleys that were once dips/corrections/bear markets and wish they had invested when the price of the asset they’re looking at was so low. Essentially: that’s now. Crypto isn’t going anywhere and the pricing represents a big opportunity for those who can spot it, who have the guts/conviction and who have a long-term outlook.
That and despite recent price action crypto is on an absolute tear right now. As Travis Kind pointed out:
Crypto prices were down in January but you wouldn't know it looking at the highlights. Crypto continues to be the hottest sector on Earth.
Allow me to highlight a few of his highlights:
Google hires former PayPal executive to run payments division, push into crypto
Nike hiring Director of Metaverse
Apple CEO Tim Cook “sees a lot of potential” in the Metaverse, investing accordingly
China plans to legalize NFTs and prepared separate laws from crypto
American Express considering allowing points to be redeemed for crypto
Avoiding 2 big investing blindspots
I’ll keep this section short and sweet. Lyn Alden dropping some knowledge you’d be smart to heed:
Coachella’s NFTs will act as real-world passes
The next time someone says, “NFTs are dumb and pointless!” you can remember this: Coachella is issuing some new NFTs that will act as real-world lifetime passes along with some interesting bonuses as reported here:
The NFT passes offer owners entry to the festival every year, and unlimited access to Coachella-produced virtual experiences.
If you’ve been following NFT adoption for awhile then NFTs as tickets/passes is a yawn: you’ve already contemplated it and seen it roll out a few interesting places. But it is actually a fairly big deal:
The partnership, which will span multiple years, marks the first time a major event producer has used NFTs as passes for real life experiences, offering a look into what the future of ticketing might look like.
Now the lifetime passes are very limited in quantity but there’s going to be a separate rollout with other interesting benefits for a wider group of fans:
The festival is also launching two limited-edition NFT Collections for fans that pair photos from the festival, with physical items like posters and photobooks. Coachella is trying to offer unique experiences in person along with digital collectibles all verified using blockchain technology.
I’m excited to see what else comes down the pipeline that merges digital and IRL experiences. I don’t think it’s going to be too long until it just seems normal.
NITRO!
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See you tomorrow!