This “Silly” Asset Bubble Is the Future of Finance

|March 19, 2021
Michelangelo's David Head

You’ve surely heard about the artist who just sold a digital image for $69 million.

Beeple, as his 2 million Instagram followers know him, had previously never sold anything for more than a hundred bucks. But now he’s in stiff competition to claim the biggest single sale by a living artist… threatening to overtake the title from our former neighbor Jeff Koons.

It’s all thanks to some odd new digital creation… the next silly asset bubble.

Or at least that’s what the media seems to want you to think.

The truth is non-fungible tokens (NFTs) are way bigger than the silly realm of digital art.

The surface-level media loves to play up the fact that digital images are selling at unheard of “bubble-like” prices… but, as with all things related to money, these truth hackers fail to tell the whole story.

The Solution to a Big Problem

NFTs, or “nifties,” will be behind Web 3.0… one of the greatest evolutions of our economy and our monetary systems of our lifetime.

If you’ve been a reader for a while, you know we’re a bit of a techno skeptic.

The iPhone is the devil’s creation.

Netflix is ruining America.

And Google is setting us up for a generation of know-nothings.

Those are known truths. You won’t sway our opinion.

But NFTs… They’re a different story. A much different story.

For years, we’ve been researching and writing about what we call the “IP economy.” It’s the economy that underpins a digital age. Where a savvy machinist could easily protect his creation with patents and the rule of law in the old world, digital creators haven’t had such luck.

Their work can be spread for free online with just a few clicks of a mouse.

It happens to us. This very column will likely end up on six different sites.

It’s why digital artists like Beeple must have real jobs.

And it’s why the music industry, the publishing game and, yes, the digital art world have struggled over the last 20 years. The digital evolution has yet to offer a smooth conduit for their businesses.

But that’s also why the real estate industry remains so slow and sluggish… It’s why we have to pay somebody big bucks to search a property’s title history and buy insurance to guarantee their work.

Without it, we might not own what we think we own.

NFTs will solve that problem.

Just ask Beeple… and the fella who’s surely looking to sell him a new yacht.

“Smart” Money

NFTs also solve another problem – royalties.

At fault is the reason the textbook publishing industry is such a racket. Authors are constantly coming out with new additions – whether the facts warrant it or not – just to make their previous additions outdated and halt secondary sales (which don’t come with a royalty).

By attaching NFTs to these products, the problem can be solved.

So-called “smart contracts” tied to many NFTs ensure creators get a cut of every future sale.

Beeple and his estate, for example, will make money for decades to come. The NFTs he created ensure he gets a 10% cut of all future sales. The tokens he sold for a buck… are now bringing him as much as $10K with each transaction.

The key to this is to understand that it’s impossible for more than one person to own an NFT.

Therefore, there are no ownership disputes. One simple look at the blockchain tells us who owns it.

And while so many folks are saying the tokens will transform the art and collectibles world, we warn you that they are only partially right.

Their take on things is like focusing on a single drop of rain in a thunderstorm.

There’s a whole lot more to this flood.

Anything unique and valuable can be attached to an NFT – even our identities.

Praise for Bubbles

Is there a lot of junk in the NFT market?

Absolutely.

Are we in the midst of a bubble that will zap oodles of money out of the pockets of the uninformed?

You betcha.

But we argue this is exactly what’s needed to bring this very useful and very powerful technology to the market in a big way.

Tulips once saw quite a big boom. But, by golly, they’re blooming in our garden now.

The tech boom, too, came and went. Lots of folks lost lots of money. But the proponents of it all were dead-on right. The web has changed our lives and our economy.

NFTs are no joke.

They are more than a way to sell silly pictures and oddball online videos. They’ll someday soon be at the center of the financial realm.

This technophobe is convinced of it… and celebrating it.

There is a slew of bad information, lazy logic and half-cocked reporting going on.

Do some digging and think for yourself.

When you do, you’ll see one heck of an opportunity is brewing.

Be well,

Andy

P.S. There’s no question that the blockchain – and the cryptos that grant access to it – has started a digital revolution. It’s why we’re recommending cryptos in our Alpha Money Flow trading service… and why we have our eye on three coins that are poised to skyrocket as this industry takes off. Check out our latest research here.

Andy Snyder
Andy Snyder|Founder

Andy Snyder is the founder of Manward Press, the nation’s premier source of unfiltered, unorthodox views on money and what it means for a free society. An American author, investor and serial entrepreneur, Andy cut his teeth at an esteemed financial firm with nearly $100 billion in assets under management. Andy and his ideas have been featured on Fox News, on countless radio stations, and in numerous print and online outlets. He’s been a keynote speaker and panelist at events all over the world, from four-star ballrooms to Capitol hearing rooms. Today, Andy’s dissident thoughts on life, liberty and investing can be found in his popular daily newsletter,  Manward Financial Digest.