On this segment of Money Never Sleeps with Louis Velazquez we are talking about the impact of cryptocurrency on the future. Main Street is meeting Wall Street and crossing over with Tech Street and basically everything is pointing towards the future of it all.
From Non-Fungible Tokens to cryptocurrencies such as Bitcoin, Ethereum, Ripple on down to exchanges such as Coinbase, the future is pretty bright and clear to those that see it. When the utility of a cryptocurrency is evident and it can be seen as value, maybe not at that exact moment but as its set out to be, then those are the ones that you want to keep an eye on as their utility becomes a true store of value not just a number on a board.
Institutions such as Goldman Sachs, JP Morgan Chase, BNY Mellon and so many other family offices and hedge funds have joined the party by either becoming custodians of these assets or by inserting big money into these projects so that they can see achieve their goals and thus creating extreme value.
When evaluating any cryptocurrency or digital asset, first and foremost you need to ask yourself what is the goal, if the goal makes sense and achievable then it may be a keeper. NFT’s should allow for monetization of the digital asset, if not then I don’t see it much more than a collectible such as a baseball card. I doubt that many if any artist that sells their artwork retains the right to that piece of art in order to monetize it. Promoting it is one thing but actually making money on it is a different story entirely.
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