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HEALTH, WEALTH, AND HAPPINESS

August 17, 2021

"Proper physical exercise increases your chances of health, and proper mental exercise increases your chances for wealth. Laziness decreases both health and wealth.”

- Robert T. Kiyosaki, Rich Dad, Poor Dad

Hey Everyone,

Although pixelated art can be fun, I think we can all agree that the main innovation of NFTs is yet to come.

For me personally, it is difficult to justify spending hundreds of thousands, or even millions of dollars, on a JPEG image, especially when the token being purchased doesn't come with any sort of copyright privileges and can still be duplicated and distributed by anyone on the world wide web.

The solution for this seems to be coming from the most unlikely of places...China.

Excuse me, Mr. Lucas

The fact that the world's largest online retailer has opened a marketplace for NFTs is pretty humongous news by itself, but the added functionality of adding copyright capabilities takes it to a whole new level.

Don't get me wrong. Alibaba is no OpenSea, and we can expect that they have different motivations and values than the crypto community at large.

Case in point, the copyrighting is actually done by a centralized organization called the Sichuan Blockchain Association Copyright Committee, which operates and maintains the New Copyright Blockchain. Very Chinese indeed.

Further, some Star Wars fan art has already shown up in the new marketplace that has apparently not been sanctioned by Disney. On second thought, maybe China shouldn't be leading innovation in this particular category.

3D Revolution

For the rapidly evolving online community of digital artists and digital art connoisseurs, copyright matters very little.

In fact, the marketplace has made it very clear that people are willing to pay many multiples more for files stored on the IPFS than they would on any centralized server.

If you have any ideas as to why that might be please let us know, as we are always open to new possibilities.

Many thanks for reading the BMJ Newsletter and for sharing it with anyone who might benefit from it. Have a wonderful day.

Best regards,

Mati Greenspan

Analysis, Advisory, Money Management