Another celebrity joins the Bored Ape Yacht Club. What do you think? Worth it?
It does look like him a bit. Maybe it’s the hat??
It makes me wonder whether the influencers agree with the founders to write an amended smart contract for all future sales for a “designer cut of the profits” when each of the series changes hands in future. A different type of music loyalties.
From the little I have read about the NFTs the celebrities are getting involved in, they are not merely digital tokens - they include stuff like signed memorabilia, exclusive rights to attend events or loads of other stuff that, if you are a lifelong fan, may be worth it’s digital weight in gold to the right owner or follower.
I don’t like investing in stuff that does not have a clear cut case of utility, and for me utility means “a clear case that a NFT can earn a steady stream of future income”
In the case of Snoop Dog, he was and still is an original influencer. The guy is either a genius or attracts geniuses to work with him. And although I grew up a few generations before Marshall Mathers, I love his music. The lyrics are as shocking as Handel’s Messiah, or Beethoven’s Choral symphony. Time will make more than a few realize such truths.
I don’t think NFTs are around for the long run. I am not investing in them, I feel there are much more stable options to trade.
I think that NFTs will be around longer term since they are going to be a massive part of the metaverse which many large cap companies are investing in.
NFTs will see explosive adoption. You can already see the blue chip companies making moves. Nike, Coca-cola, pro sports teams in the US. NFTs are more than just digital art. As @Mondeoman already mentioned, their utility is still evolving, with some of them giving the holder future access to project innovations, access to “alpha groups” or in this case perhaps the artist him/herself, the ability to mint future NFTs…
It’s the Wild Wild West. Anything is possible, and project teams are building out incentives that go beyond just those specific to the traditional art world.
And don’t forget the other buzzword that will take the world over if it hasn’t already - the metaverse. This will take shape primarily pushed by crypto gaming - the audience that’s already been exposed to some forms of the metaverse - and you guessed it, NFTs.
As you alluded to, it’s already in the works, with big money and big names in the music industry already investing. We’ll be hearing more about limited digital assets (LDAs) in the coming years.
Great read up on what’s being worked on:
Working project with 3 huge artist/celebrity names in the music industry I’m familiar with:
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Hi,
It will slowly dawn on people just how broad this NFT stuff will become. When I earned my first blockchain certificate it was downloadable from a server, and the downloaded .pdf had a public key. The key is written on the certificate. The certificate is now an NFT.
One of the reasons I have chosen to go all the way with blockchain education is because the chosen course material will teach me how to set up a decentralised autonomous organisation (a DAO) whose only purpose may end up being a repository for all our family’s important documentation and to know that it is tamper-proof. Passport, driving licence, credit cards, etc, etc, etc. I will most likely use and “unstoppable domain” via which to host these NFTs - that domain itself being an NFT too.
This is when I realized this is not a flash in the pan. It is a reality that is way overdue, and will be a great way to stop people forging documents or land ownership in the third world.
It is the tokenization of the physical and digital world. Public certificates of authenticity and proof of ownership of ANY digital or physical item. NFTs have unimaginable reach and use cases. We’re just scratching the surface.
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NFTs, what a great business to be in. We just need more capital!
Square Enix, a major Japanese video game company, released a letter on the first day of the new year which highlighted the company’s plans for expansion. In the letter, Yosuke Matsuda, CEO of Square Enix, revealed that his firm will be focusing on implementing and expanding metaverse, NFT, and block-chain technology so that it can be integrated into future projects. The letter commented on the rising importance and influence of NFTs, metaverses, and blockchain technologies.
Everyone and their mom are jumping on this bandwagon.
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Not a bad move on his part. I think we’re past the point in time where the mere mention of metaverse or blockchain or NFTs will significantly move the hype-o-meter about a company. But it certainly doesn’t hurt!
For now at least. How long will the NFT hype last though? And what happens when the next fad comes along?
Don’t know and don’t care. The purpose of “trading” is to not hang around for a decade to discover that your 5% 10 year bond has been decimated by 9% annual inflation. You are in and out in trading, and you always know your maximum exposure to any particular trade. I treat NFTs as I treat currencies. Don’t hang around holding on to them for too long. Set a profit strategy, get in, get out and “JFDI”
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They are here to stay. They are foundational, at least to crypto gaming ecosystems being built now and the art world, as can be seen by the first post. But they will see great adoption beyond gaming and digital art work.
NFT’s will play a part in any industry that requires proof of ownership or authenticity. Endless possibilities. Real estate (real and virutal), royalties, copyright, identity, social community incentivization…
Great read here of some of those possibilities.
The " Digitalization of everything physical"
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With the unfolding of the Metaverse NFTs will have more utility but the hype will die down so don’t get caught holding too long take profit as you go along
If you’re hodling, holding works long term. But wise words. Take profit. There will always be another opportunity.
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I put mine on the market the same trading session I buy them. Unless I have not yet documented what my buy/sell plan is for that particular NFT type.
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Sometimes that’s the best advice. JFDI.
@helenperry11 You are right about other stable options but there is no harm in buying some of the NFTs too to see how well they do in the long run.
Unless they sit idle and don’t move in price or even drop in price. Most NFTs just sit there and don’t experience anywhere near the exposure and volume that the more well-known projects get… it’s definitely a gamble.