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June 2, 2022

"The crypto revolution ... can best be described as punctuated equilibrium — periods of equilibrium or stasis that are punctuated by dramatic moments of hypergrowth, followed by sharp contractions that settle down to a new equilibrium that is higher than the one before."

- Tyler and Cameron Winklevoss

In Case You Missed It: How to Launch an NFT Collection! Last night's workshop drove more single-day signups than any workshop in Bitcoin Market Journal history.

NFT superstars Kosta Hantzis and Lisa Loveland from Lynx Club NFT gave an outstanding demo of how creators can mint, sell, and promote their own NFTs. Great workshop, great community: Blockchain Believers can watch the replay here.

Not a member yet? Become a Blockchain Believer and get access to our complete library of members-only workshops!

Whale Reads

Worthy news for aspiring whales

Hotels Using NFTs for Lodging Reservations (Wall Street Journal): When we did our original NFT Investing Workshop last fall, we predicted that most NFT collectibles would decline in value, but NFT technology would flourish with new use cases.

Now it's happening: hotels are beginning to experiment with issuing guest reservations as NFTs. If your travel plans change, you can sell the NFT on the open market: think of it like reselling your reservation, like a StubHub for hotels.

Investor Takeaway: This is blockchain as the "Internet of Value," creating new markets to trade things of value (in this case, hotel reservations). Expect to see "reservation flippers" -- like ticket resellers on StubHub -- that buy hotel inventory when it's low, and resell the NFTs when prices go up.

Your Money is Growing

Truth, in numbers

To get a sense of the size of these upcoming NFT markets, here's a look at top-selling NFT collections to date (remember, the "B" stands for "billion"):

Courtesy NonFungible.com

Investor takeaway: Remember that this astronomical growth has been driven by cartoon NFTs. Now, imagine how this market will explode when things of real value (like real estate) start to be offered as NFTs. Stay subscribed!

Block Market Daily

with Mati Greenspan

Hi everyone,

To all our friends and colleagues in the UK and to the Queen, we'd like to wish you a very happy Platinum Jubilee. Truly a once in a lifetime event, and your ultra-British three-day festival does seem kind of cool.

Elizabeth II is now on the 70th year of her illustrious reign, the longest in English history and only two years short of the longest-ruling monarch in history. The record is currently held by King Louis XIV of France, who died of gangrene 307 years ago. It's no simple accomplishment to have ruled this long, and in known history, only seven people have managed to retain a monarchy for more than 65 years.

Perhaps the key to Elizabeth's success is that the role of king and queen of England has been drastically reduced to a figurehead position, with all the critical decision-making powers deferred to Parliament. This way, not only is the blame for decisions rarely hers, but a revolution against the Queen would be absolutely pointless.

Still, it was comforting to see so many people celebrating and being genuinely happy today, and from the images, it seems everyone is enjoying themselves. Except for this little guy, who totally stole the show. He kind of looks like how I felt supporting bitcoin while the price was falling. Happy and proud on the inside, but definitely not enjoying the moment.

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Super clear

To shift from one record-breaking ruler to another, I'd like to take this opportunity to condemn the world's richest man for his recent very public outburst against people working from home. Here's the email that went out company-wide at Tesla, presumably from Musk's office:

442d9249-b5dc-f363-74f2-5cfabc52df45 image

From personal experience, a person working a minimum of 40 hours in the office per week, plus commute, likely spends more time with their co-workers than they do with their own family. Those hours may be fine for some, but I don't think it's fair to force them upon people.

Of course, Elon is a capitalist and is entitled to enforce whatever policies he feels are best for his company, even if it does mean praising Chinese Tesla workers for plowing through inhumane conditions during the ongoing Shanghai lockdown. However, as someone that many leaders look to as an example, he should probably be a bit more careful with his words. No doubt many billionaire tyrants had a good laugh over their caviar luncheons when reading his words.

I've personally never found working 40 hours a week in an office to be very tolerable, or efficient. The main problem in my mind is that the old-world corporate structure simply does not have an incentive model to accommodate proper compensation for value brought by specific workers. They buy people's time in bulk and get killer rates for it. Intellectual property is a big fat bonus that's included in the deal.

Have an awesome day!

Mati Greenspan

Analysis, Advisory, Money Management

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Bitcoin Market Journal is a daily newsletter that makes you a better crypto investor. It is created by Evamarie Augustine, Charles Bovaird, Mati Greenspan, John Hargrave, and Alexandre Lores.

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