035: Mexico Dispatch: How are NFTs a long term investment ?
Top reasons to invest as told by my favorite NFT holders & $APE token launch 👀🦍
Have you bought your first NFT yet? If not, what is stopping you?
This week I’m traveling around Mexico, and there’s a lot of excitement around cryptocurrency culture because of the government’s positioning with politics and finances. People want to be free through their money and they want to build wealth for their families. I met a physicist at a cocktail bar whose eyes lit up when my degen travel buddies from Korii DAO told us about our baby creative agency for artists who want to transition into web3. This is the sentiment around the world as we continue to read clickbait headlines about NFT projects garnering $$$ in sales. Beyond the headlines, though, lies an even bigger opportunity for new and young investors.
Where will your hard-earned crypto end up next? It’s a question new investors ask themselves every time they decide to transfer their crypto holdings into a new wallet. The big names in NFTs are always moving the markets. Just this week Yugo Labs creators of Bored Ape Yacht Club (BAYC) acquired the IP for Crypto Punks of Larva Labs. This is a huge deal as one rare Crypto Punk NFT sold for $10M in the last three months Following that announcement, Yuga Labs will also launch a coin. 👀
Ambitious developers (like ApeWorX) are working on cross-collaboration contracts with blockchain platforms to empower developers and creators in DeFi. But, how do you know where to invest in the most promising projects that have the potential for exponential growth like Crypto Punks, Boss Beauties, or even Gucci’s latest collaboration with digital brand Superplastic? It all begins with a roadmap and a community. A game without a plan, is just a spectator sport. I’m going to lay out all the reasons that you should mint and invest in an NFT right now .. or why you should just buy any random NFT that interests you today and hope for the best. 😭
VALUE: NFTs are both a long-term and short-term investment. Think 1 year, 5 years and 10 years. You can make $$$ today off the hype (short-term). But in the long-run, if the ecosystem continues to expand and players like CryptoKitties stay relevant, NFTs will only grow in value as new users enter the space. Decentraland raised $25 million with their ERC20 token sale and I believe this is just a precursor of what’s to come. When it comes to which NFTs you want to buy, think of them like collectibles…pokémon, beanie babies and bobble heads !
AIRDROPS: Being a holder of an NFT unlocks access to exclusive events and tokens. That’s right, this is big — NFTs have the potential to make you privy to opportunities that only early investors would ever have. Imagine buying a canary diamond for $3,000 and 6 months later it’s worth $50,000. Now imagine that same scenario happens, but this time you can trade your ‘canary diamond’ with someone who can’t take ownership of it. At some point, the price of crypto will only increase and this will increase the value of your NFTs.
TOKENS: Initial Coin Offerings (ICOs) have opened the floodgates for interesting token launches, where utility tokens are sold in exchange for ETH and other cryptos at the start of a company’s growth. However, there is a problem with utility tokens – they can be spent instead of held. This means that similar to stock options, you give up your right to the future value of a company when you spend your tokens. Many are realizing this fact too late and watching as their opportunity in certain companies goes down the drain.
$APE Token Launch Tmrw at 8am EST
There will be a $1 Billion market cap in the ecosystem and so far I can confirm that Gemini, Kraken, Coinbase will all list the token on their exchanges. The token allocation will be divided between the project’s founders, launch contributors, and NFT holders.
Tokenized ecosystems are the future of commerce and business. Store owners will be able to sell items which are unique and don’t have an alternative (no other items with the same design exists), better known as non-fungible tokens or NFTs. It’s easy to dismiss this as just another cryptocurrency but you can’t ignore that it has its own specialties. This graph further depicts the breakdown.
#TuttleTribe NFT Now Minting
Speaking of long term investments, there is a brand new non fungible token (NFT) now minting from Women in Web3 Equity. The 3050 piece NFT collection will serve as a membership NFT for womxn looking to learn about the web3 space in an inclusive and diverse environment. Full disclosure, I minted two this AM (pictured above) and I am excited to support such a hardworking and passionate group of women! The collection is inspired by Julia Tuttle, the city of Miami's female founder who sold her land to Henry Flagler for $100 back in 1896! She never gained proper recognition for what she started so her legacy will live on with this collection and its holders. Check out the project here.
*This is not financial advice. Please do your own research.
If I want to create NFT by using photos but the objects have a brand name on them, let say a coca cola logo, does that mean they could claim profit for my NFT or stop me from selling it for copyright reasons?