3rd December 2021 > > Matrix NFTs and an ETF.

tl;dr

An ETF exchange traded fund (ETF) gives much easier exposure than buying them yourself.

Market Snap

Market Wrap

Open interest leverage in futures and options are at an ATH though with only a slight bias to the long side, diminishing the risk of a long or short squeeze. Long term holders have been off-loading 5% of supply accumulated since March, putting downward pressure on prices. No prizes for guessing that I have not been involved in that trade.

Curious Cryptos’ Commentary – Non-fungible tokens (NFTs)

If you followed my recent travails regarding Matrix NFTs, you will be surprised to hear that my persistence paid off. I am the very proud owner of three “plugged in” Matrix NFTs (plus another two for a fellow traveller), despite more than 300,000 people queuing to buy up to five each.

Later this month, there will be a blue pill, red pill event. I suspect most people will opt to unplug from the Matrix (Neo anyone?) meaning that, counterintuitively, sticking with a common avatar that remains plugged in might possibly be a very lucrative choice.

My key point though is that if the whole process came across as being time-consuming, difficult, and fraught with a high risk of simply wasting your time, you would be right.

But there could be an answer – an NFT ETF (exchange traded fund).

Yesterday investment and fintech firm Defiance launched the first NFT ETF (ticker: NFTZ) on New York stock exchange Arca. Though not directly buying and storing NFTs, the fund invests in the stocks of companies that are operating in this space.

The NFT world is experiencing an explosion of activity, with many use cases yet to be explored. This is not simply about digitising art; it is about facilitating engagement with your client base. Sylvia Jablonksi, co-founder, and CIO of Defiance, had this to say:

“The NFT revolution will fundamentally change the economic model for artists, athletes, creators and many more industries that we can’t even conceive of today. NFTs could be bigger than the internet.”

I keep saying cryptos will be bigger than the internet. Claiming NFTs will do that on their own? That is fighting talk Sylvia. I like it.

Some of that fund is going into my pension pot (NOT investment advice).

Reserve Treasury Protocols (before they all go to zero