The NFT Market Might Be Down, But It’s Definitely Not Out

[Inside Wall Street with Nomi Prins]( Welcome to Inside Wall Street with Nomi Prins! It’s the only daily newsletter featuring the insights of renowned author and former Wall Street insider, Nomi Prins. Every day, Nomi shines a light on a massive wealth transfer she calls The Great Distortion. That’s the true cause of the permanent disconnect she sees between the markets and the real economy. And she shares ways you can come out ahead, if you know where the money is flowing. You’ll find all Nomi’s Inside Wall Street issues [here](. If you have questions or comments, send Nomi a note anytime [here]( or at feedback@rogueeconomics.com. The NFT Market Might Be Down, But It’s Definitely Not Out By Nomi Prins, Editor, Inside Wall Street with Nomi Prins In March 2006, then-Twitter CEO Jack Dorsey wrote his first Twitter post. It read, “just setting up my twttr.” In December 2020, he turned a static image of his five-word tweet into a digital file… stored it on a blockchain… and created a non-fungible token (NFT) out of it. And in March 2021, crypto entrepreneur Sina Estavi bought that NFT… for $2.9 million. Last month, Estavi tried to auction off the NFT for $48 million. But there were few interested buyers. At writing, the highest bid is roughly $29,100. Now, many pundits have interpreted the auction’s flop as the NFT bubble bursting. But I believe the NFT story is just beginning… And today, I’ll show you why NFTs are an essential part of a nascent trend that will revolutionize how we live, work, play… and profit. Recommended Link [Jeff Bezos' "Unfair" Playbook Could 49X Your Money]( [image]( Has Jeff Bezos rigged the game? Six mysterious deals have handed him up to $2.5 billion in pure profit... Even Amazon's own executives call these deals "unfair"... Because, every single time, Bezos FORCED his investments to soar. Right now he's getting in position for Deal #7... And for the FIRST TIME ever, regular folks have a chance to ride his coattails. Dave Forest discovered a unique "backdoor" way to jump into Bezos' next big deal... And potentially see a 49X return over the next 12 months. You do not want to miss out on this historic opportunity! [Click here for the full story.]( -- What is an NFT? Firstly, don’t worry if you’ve never heard of NFTs. They haven’t been around all that long. In fact, the first NFT dates back just eight years. But already, they’ve become one of the biggest internet trends. An NFT is a digital image of a real-world item such as a piece of art, a piece of real estate, jewelry, a video, a sports trading card, or a piece of music. And as the name suggests, each NFT is unique. No two NFTs are the same. That’s because NFTs are built on the blockchain. This is the digital database that underpins most cryptocurrencies (think Bitcoin or Ethereum). The blockchain is used to ensure each NFT is authentic. [Featured: Confession: PhD Economist says “Used to think a crash was coming…”]( NFTs took the art world by storm in 2021. That was when an NFT of American digital artist Beeple’s The First 5000 Days sold for $69 million. NFTs have given a new form of expression to artists, athletes, and celebrities. They’ve also given them a new way to make money off their work. NFTs have become a brand-new digital property economy. Additionally, NFTs have provided corporations with a new asset to build marketing campaigns around. It’s no surprise that they’re being adopted by industries as diverse as gaming, finance, and art. Recommended Link [PhD Economist: “America’s New Abnormal”]( [image]( Nomi Prins, who predicted the 2008 recession now warns: “We’re never returning to ‘normal’… in fact, Americans are about to be blindsided by a crisis unlike anything we’ve seen before.” [Go here now to see Nomi’s newest prediction.]( -- Temporary Pullback Now, the NFT market has slowed down in recent months. World month-to-month gross sales of NFTs totaled nearly $5 billion last August. But in March 2022, that dropped to $2.4 billion. The entire NFT market cap has fallen from $23 billion in 2021 to around $10.5 billion. And as I said above, market commentators are already calling time on NFTs. But right across the board, markets are down. Even for more established asset classes. The S&P 500 is down roughly 13% since the start of the year. And the Nasdaq has fallen more than 20%. Cryptos have also taken a hit. Bitcoin is down 18% and Ethereum is down 24% since the start of the year. Even gold is down about 9% over the last two months or so. [Featured: June 1st…7 Billionaires Prepared (Musk, Cuban, More…)]( A few things have had a huge effect on investor confidence. The war in Ukraine… spiraling inflation here in the U.S…. and the market’s fears about the Federal Reserve’s plans to increase interest rates. But as I’ve already explained in these pages, I believe [stocks]( [cryptos]( and [gold]( will rebound. And I think leaving NFTs for dead would be a big mistake. Let me explain why… Down But Not Out To me, the situation with NFTs right now reminds me of the dot-com bubble of the early 2000s. The bursting of that bubble was an extinction-level event for hundreds of tech companies. But the dot-com crash wasn’t the end of tech or the internet. And it wasn’t the end of tech stocks, either. They continue to create enormous wealth to this day. Case in point: Amazon (AMZN). Here’s a chart of Amazon’s share price from the late 1990s to the early 2000s. As you can see, the stock declined 94% between 1999 and 2001. But if we zoom out and look at the big picture, the dot-com crash is an almost unnoticeable blip on the company’s long-term price chart. The same is true for Microsoft, Apple, Nvidia, Adobe, Intuit, and numerous other companies that survived the dot-com crash. Many went on to become industry dominators. Recommended Link [If you’ve got any money in a U.S bank account or retirement plan... READ THIS]( [image]( A sinister plan is being rolled out across America… Buried on page 314 of a leaked document by Speaker of the House Nancy Pelosi... Our government is rolling out a plan to enact enormous changes to the appearance – and value – of our money. A change that could impact the savings of millions of Americans, especially those with more than $2,500 in the bank. Renowned investment analyst Jeff Brown, founder and lead investigator for Brownstone Research has connected all the dots, and what he's found is troubling. This scheme is backed by our government – and also a handful of global elites including... The United Nations The Gates Foundation And the Federal Reserve... Most people think inflation is today's biggest financial risk. But what’s about to happen will make rampant inflation look like a minor inconvenience in comparison… [Click here to see what you need to do right now to prepare.]( -- The Long Game We have a comparable situation today with NFTs. And like the bursting of the dot-com bubble, the recent bursting (or deflating) of the NFT bubble is a healthy development. It will cleanse some of the irrational exuberance from the space and help separate the wheat from the chaff. And it will lead to higher-quality, more professional innovation in the space. This doesn't mean that every NFT will sell for millions of dollars. As with any market, there will be winners and losers. But the overall NFT trend will stick around. Bottom line: Mr. Estavi may have misjudged the current market when he put the Dorsey tweet NFT up for sale last month. But he hasn’t misjudged the overall trend. That’s because NFTs are part of a bigger trend in the blockchain world. That trend is called [Meta-Reality](. Meta-Reality is where the real world and the digital world meet. It is based in a virtual environment. But using an avatar, you can “live,” work, and play there. Essentially, you can do pretty much anything you can do in the real world. I know, it sounds far-fetched. Or maybe, you think it’s something from a sci-fi novel. But, [as I showed you in this recent essay]( it’s already happening. And [big-name companies like Disney, Microsoft, and JPMorgan are getting behind it](. I believe Meta-Reality will revolutionize multiple industries. That’s why it’s one of [my five key investment themes](. NFTs are an essential part of that revolution. And they will create trillions of dollars in value in the process. Look no further than the sports industry. NFTs of player cards and video clips of iconic sporting moments have already generated billions in revenue for sports leagues, teams, and individual athletes. For instance, fans spent more than $800 million on digital collectibles of NBA highlights in 2021. And global consultancy Deloitte estimates that more than $2 billion will be spent on NFTs for sports media this year. It says that up to 5 million people will own an NFT sports collectible by the end of 2022. What This Means for Your Money So how do you position yourself to profit? First, you can simply own Ether (ETH). Ether is the native cryptocurrency of the Ethereum network. It is the second-largest crypto by market capitalization. Most NFTs are built on the Ethereum blockchain. I expect Ether will surge in popularity as the Meta-Reality and NFTs are more widely adopted. You could buy Ether on a crypto exchange such as Coinbase and store it in a crypto wallet. Or you could purchase it through PayPal. The company offers a more convenient option for someone buying Ether for the first time. With PayPal, you can start your crypto portfolio with as little as $1. So it’s a good solution if you only want to buy a small amount of Ether. Alternatively, you could capitalize on the Meta-Reality trend by buying The Roundhill Ball Metaverse ETF (METV). This is an exchange-traded fund that’s listed on the Nasdaq. It invests in companies with exposure to the growing Meta-Reality space such as Nvidia, Microsoft, Roblox, Tencent, and Unity, among others. Happy investing, and I’ll be in touch again soon. Regards, [signature] Nomi Prins Editor, Inside Wall Street with Nomi Prins --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=RE: Reduce Your Trading Risk With the Right Strategy). --------------------------------------------------------------- MAILBAG In the [latest Friday mailbag edition]( reader Vaughn C. asked for Nomi’s opinion on the possible effects of the Environmental, Social, and Governance movement… May I ask what your take on the impact of Environmental, Social and Governance (ESG) is? This is related to my fears of the ESG rating system being brought down to the level of the individual and then programmable digital currency being a political weapon. Thank you for any thoughts you may have on this. – Vaughn C. In her response, Nomi said, “I don’t see ESG metrics being used for individuals. We are all too different.” But one reader disagrees… You are wrong about ESG metrics not being used against individuals. Ken Paxton, the Attorney General of Texas, was thrown out of Charles Schwab after 22 years of association for being a “reputation risk.” This designation was given to him because of his lawsuits against the Obama and Biden administrations. He said none of the big banks will do business with him. As you must know, ESGs are meant to control behavior and are a main component of “The Great Reset.” – Karen S. Are you worried about ESG as much as Karen is? What are your thoughts on investing in Nomi’s Meta-Reality theme? Write us at feedback@rogueeconomics.com. 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