Rachel’s note: Jeff Brown, editor at Brownstone Research, jumped on the bitcoin trend early, before the asset exploded.
Now, Jeff is pounding the drums on another innovation in the blockchain space called non-fungible tokens (or NFTs).
To him, NFTs are experiencing their “bitcoin moment.” Many investors still misunderstand and underappreciate these digital assets. However, as more people realize the impact of this technology, that will change.
For us, though, the time to get exposure is now.
That’s why Jeff is dedicating his first summit of the year to NFTs.
Tonight, on January 26 at 8 p.m. ET, he’ll share a group of NFT coins that represent one of the most exciting ways to play this space. Reserve your spot, for free, right here.
To learn more about the technology behind NFTs, read on…
By Jeff Brown, editor, The Bleeding Edge
In 2017, JPMorgan CEO Jamie Dimon had some choice words for bitcoin…
“If you’re stupid enough to buy it, you’ll pay the price for it one day.”
Back then, many agreed with him and widely misunderstood the blockchain industry. They called the digital asset a “scam,” a “ponzi scheme.” Some even said that its true price “might be zero.”
But I saw something different. I saw a decentralized, permission-less asset supported by a radical technology.
I had first profiled bitcoin in 2015. And in 2017, we officially added it to our Near Future Report portfolio.
I’m sure we know what happened next…
A lot of people now see bitcoin and other digital assets as legitimate investments. There are currently several bitcoin futures exchange-traded funds (ETFs).
And major companies like Tesla, MicroStrategy, and Square (now called “Block”) hold the asset on their balance sheets.
The Latest Megatrend in Digital Assets
2021 was the year that a unique class of digital art and collectibles… enabled by the rise of blockchain technology… finally hit the mainstream.
NFTs are digital assets that are cryptographically secured and authenticated on a blockchain. They can include everything from digital works of art to audio recordings, videos, and much more.
And just like bitcoin in 2012, NFTs are hitting a major inflection point right now.
In 2021, global marketplaces like OpenSea and Crypto.com saw a surge in sales volume as more users snapped up NFTs. Total sales for NFTs on the Ethereum blockchain exceeded $23 billion last year alone.
Individual investors, venture capital firms, and even legacy financial institutions are investing millions in this megatrend as I write.
And just like bitcoin in its early years, we’ve seen a lot of mocking coverage directed at NFTs. But we will prove these detractors wrong… once again.
NFTs represent a revolution in the art and collectibles market. And what few see is that the applications for this technology go beyond just digital collectibles.
More Than Digital Art
At a high level, NFTs are a way to authenticate and represent ownership of a digital asset using blockchain technology. Right now, this technology allows for the ownership of digital artwork.
But NFTs are part of a larger trend known as “tokenization.”
Tokenization is a way to represent ownership of an asset. It’s similar to the process of securitization we see with stocks. The difference is that tokenization uses blockchain technology to confer ownership. And the types of assets that can be tokenized are nearly limitless.
Let’s imagine a piece of property like your house. Typically, one person would be the sole owner of that asset. Maybe your spouse is also on the title, but that’s usually where it stops.
But if we were to tokenize that home, we could confer fractional ownership to hundreds or even thousands of token holders. The value of the tokens would fluctuate just like any other security.
Source: Square Select
That’s just one example. Now imagine tokenizing commercial property, rare cars, jewelry, or even racehorses. Anything of value can be tokenized and traded.
How to Profit From This Megatrend
People rarely appreciate new technologies right away. For instance, investors did not fully understand bitcoin during its early years. And at one point, the public even glossed over revolutionary technologies like the internet.
Similarly, NFTs are experiencing their “bitcoin moment.” Many investors currently misunderstand – or mock – these digital assets. But as the market matures and the applications of this technology become easier to understand, that will change.
For serious investors, the time to get exposure is right now. That’s why I’ve dedicated my first investment summit of the year to NFTs.
Tonight, on January 26 at 8 p.m. ET, I’ll share a group of NFT coins that represent one of the most exciting ways to play this space.
I’ll also give away the name of one of my favorite NFT coins. I’ll even be giving away a series of NFTs for free. To learn how to claim your free NFT – and the name of my free NFT coin recommendation – reserve your spot right here.
I look forward to seeing you there tonight.
Editor, The Bleeding Edge