That’s our tech expert, Jeff Brown.
He’s a Silicon Valley insider and early-stage tech investor.
And he’s talking about online NFT (non-fungible token) marketplace OpenSea.
As Jeff reported over at his Bleeding Edge e-letter, OpenSea now has a $13.3 billion valuation in the private market.
It’s up from a $73 million valuation last March.
That’s a 181x rise in value – in less than a year.
Jeff says he’s never seen anything like it in his 35 years as a tech investor.
And it’s got him more excited than ever about what he calls the “NFT Moment” – the chance to profit as this tech goes mainstream.
We’ll get to that shortly. First, some context for that wild growth…
If you’ve been with us for a while, you know NFTs allow us to own digital collectibles.
They exist on a blockchain, the distributed ledger technology behind bitcoin (BTC) and other cryptocurrencies.
And just like you can’t tamper with a bitcoin, this secure tech means you can’t tamper with an NFT.
So we can use them to verify the ownership and authenticity of a unique digital artwork.
OpenSea is already the world’s most popular platform for buying and selling NFTs.
Browsing through NFTs on OpenSea. Source: State of the DApps
You go to the platform… search for what you want… then make an offer using bitcoin or another crypto.
In return for facilitating each transaction, OpenSea takes a 2.5% cut.
I used to be one of them. The concept of a virtual asset having value can seem weird at first.
But fortunately, we have Jeff’s insights to turn to.
And as Jeff has been showing his readers, digital collectibles have many advantages over their physical counterparts. Here he is with more…
NFTs allow buyers to verify they aren’t getting forgeries. That’s something the physical collectibles market has always struggled with.
Digital art may also be more appealing to some collectors. If you buy a Picasso, it’s difficult to show it off to your friends and colleagues. And you run the risk of damaging or destroying it.
But an NFT? It can go everywhere with you. You can share it on social media or display it on your phone. It’s even becoming common for celebrities to use their NFTs as avatars on platforms like Twitter (TWTR). That’s a big deal since we spend so much of our lives online.
And whether the value of NFTs makes sense to you or not, OpenSea’s sales figures show this market is booming.
Last month, OpenSea saw $2.5 billion in token sales. If OpenSea repeats that monthly figure over the next 12 months, that’ll put sales at $30 billion for 2022.
And that’s if we assume no growth.
If we factor in even conservative growth, Jeff says we can expect sales of $35 billion this year…
It’s another clear sign that the “NFT Moment” is here.
Sure, CryptoPunks, Bored Apes, and other NFT art series have been getting most of the attention in the mainstream press.
A Bored Ape NFT. Source: TheStreet
And some of these NFT series may prove to be passing fads…
But representing art is only one of many applications for this breakthrough new technology.
NFTs as a tech are here to stay.
To understand why, you have to see NFTs in the context of the wider trend known as tokenization. Jeff again…
Tokenization is like securitization. When a company is securitized, it represents its equity as publicly traded shares. (To calculate the equity, you deduct debts from the value of the business.) If you own shares, you own a fraction of that company’s equity.
Tokenization is also a process of supporting a claim of ownership on an asset. But you do it using blockchain tech. And you can tokenize and trade anything of value.
You could mint a bunch of NFTs that represent fractional ownership of your home. You could tokenize ownership of real estate… cars… jewelry… or even racehorses. I’ve referred to this idea as a “world IPO,” because anything of value in the entire world can be tokenized and open for trading.
Are you starting to see how big this will be?
If Jeff is right, early NFT artwork is part of a trend that will one day see us using digital tokens to trade and prove ownership of all sorts of assets – digital and physical.
Soon, we could see our license plates… passports… and diplomas issued as NFTs. (More on that in future updates…)
The multitude of applications for this new tech is enough to make your head spin.
That makes it even harder to fathom the scale of the profit opportunity here.
So Jeff is hosting an NFT Moment event next Wednesday, January 26. He wants as many readers as possible to be in the NFT space with the shot at making fortunes.
Most investors will miss out on this boom because they dismiss NFTs as a passing fad.
But if you’re willing to keep an open mind… and see the potential for NFTs beyond art… Jeff believes you can make upwards of four years of tech stock gains in as little as three months with an opportunity he’s found.
He’ll show you how billionaires, blockchain pioneers, and the biggest venture capitalists in Silicon Valley are pouring billions into NFTs to position themselves to profit from the boom ahead.
He’ll discuss a set of cryptocurrencies that could deliver the biggest gains of his career…
And he’ll even give you the name of one of his favorite cryptocurrencies to play this boom.
So make sure to reserve your place for Jeff’s event here. Then clear some time in your schedule next Wednesday at 8 p.m. ET to hear from Jeff about this incredible opportunity.
Regards,
Chris Lowe
January 19, 2022
Dublin, Ireland