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HEALTH, WEALTH, AND HAPPINESS |
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| "Surplus wealth is a sacred trust which its possessor is bound to administer in his lifetime for the good of the community."
- Andrew Carnegie |
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| Coinbase NFT Sales Metrics(Dune Analytics): One of the coolest things about blockchain is that it gives you insight into company numbers, in real time ... including sales numbers.
As we reported a few weeks ago, Coinbase's new NFT platform allows users to browse and buy NFTs (think OpenSea meets Instagram), and we can see real-time sales on the blockchain.
Investor takeaway: Since its beta launch on March 1, Coinbase users have made 1,600 NFT transactions worth over $600,000 -- a modest entrance for a company with $7.84 billion in annual revenue.
Still, we're bullish on the business, as it puts NFTs within reach of ordinary users, with a user-friendly interface and easy integration with their Coinbase account. We'll watch its progress -- in real time! -- and see how this business develops. |
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Coinbase (COIN) investors should also bookmark this Dune Analytics dashboard showing recent sales volume on OpenSea and LooksRare (the top NFT platforms) vs. Coinbase: |
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| Source: Etherscan
Investor takeaway: So far, Coinbase is not even a drop in the bucket. But remember that dedicated NFT platforms are still geeky and hard to use for the majority of investors. If Coinbase can succeed in bringing NFTs to the masses -- and stick with the business long enough to make it work -- it could become not only the top "bitcoin bank," but the top "NFT bank" as well. |
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| Hi Everyone,
It seems nearly everyone is trying to create a metaverse these days, but the one person who I never in a million years thought would get swept up in the hype is the pope.
Yes, that's right. It has now been confirmed that the Vatican is launching an NFT series and will, in some capacity, be joining the metaverse. The exact capacity is still largely unknown.
So far, there's been little coverage of this upcoming historic event, most likely because the tiny country has been extremely cryptic about its plans so far.
Vice's tech arm, Motherboard, publicized its shocking correspondence with Humanity 2.0, an affiliate of the church that deals with transformative technology, and its recent partnership with Sensorium, a metaverse platform currently in beta. |
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Makes no senso
From what is publicly available, the plan is to create a virtual gallery of the artwork and other treasures of the Vatican.
In a statement, father Philip Larrey, chairman of Humanity 2.0, stated that the purpose of the partnership is "to democratize art, making it more widely available to people around the world regardless of their socio-economic and geographical limitations."
Please excuse my cynicism, but simply publishing art in order to open access for all could have easily been done using JPEGs on Web 2.0 technology many years ago. My guess is that the main reasons for publishing assets as NFTs are hype and monetization.
In a bull market, an announcement like this might have sent Sensorium's native digital asset SENSO token to the heavens, but this is clearly not a bull market, and despite a very positive outlook for many metaverse projects, short-term prices are dumping along with the rest of the market. |
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The rest of the market
As we can see across the board the markets are not having a great day. There was a brief rally last night after the Federal Reserve's rate hike.
Fed Chair Jerome Powell's statement that the central bank's policymakers are not considering raising rates by 0.75% at their next meeting gained a lot of coverage and may have provided some relief for weary investors, but isn't an extremely reassuring statement if you think about it.
Rates are going up fast, and the Fed has moved from buying assets to selling them.
Bitcoin is trading at its lowest price since February, and many altcoins are getting pummeled.
As analyst Alexandre Lores pointed out yesterday in his newsletter, there's little correlation between long-term bullish news and short-term price action these days.
Still, according to his latest research piece, a vast majority of U.K. residents expect bitcoin to rise this year, or at least they did when the survey was commissioned.
Wishing you an amazing weekend. |
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| Mati Greenspan Analysis, Advisory, Money Management |
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Remember: You usually get what you pay for. |
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