Chris Curl,
Editor
Jan. 31, 2022
Over the last month, cryptocurrencies and the stock market have been dumping.
In fact, over $1 trillion has been liquidated from the crypto markets while the Nasdaq has seen its weakest start to the year since 2008.
There are many reasons for this — the Fed pledging to raise interest rates and tighten economic conditions, the threat of war in Ukraine, and the end of multi-trillion-dollar stimulus packages (at least for now).
Investors are freaked out and taking profits, particularly from high-risk assets that have performed well in the last year like tech stocks and cryptocurrencies.
Have we seen a bottom? I think it’s likely.
But amidst all of this fear and uncertainty one asset class has been soaring… NFTs.
Every day more and more NFT sets are being launched. And other collectibles are being tokenized and sold off at auction.
John Lennon’s son, Julian, has recently tokenized a number of personal items from his father and other members of the Beatles. The NFT platform, YellowHeart, will be auctioning these items with an end date of Feb 7th. It will be very interesting to see what they go for.
Items include hand-written notes by Paul McCartney, clothing worn on stage by John Lennon, as well as guitars. Now, keep in mind that Julian will still retain ownership of the physical items. People will be bidding on the tokenized digital version of these real-world items only.
All of this is happening on Ethereum, which has made a lot of headlines in the last year and is currently the second-largest cryptocurrency by market cap.
But as I’ve stated before, there are now many competitors seeking to displace Ethereum’s top spot.
Solana is one such blockchain. And its native coin SOL has exploded in value over the last year. At the beginning of 2021, it was trading under $2.00. By November, it had risen to $260.00.
It has since retraced significantly along with the rest of the cryptocurrency market and is a value buy under $100 in my opinion.
A big reason for this is Solana’s utility as an NFT platform. More and more NFT sets are launching on the Solana blockchain and many of them are beginning to explode in value. And Solana’s fees are a fraction of Ethereum’s.
Celebrities are starting to take note.
Mike Tyson, who’s been an NFT advocate for some time, recently converted tweeting:
“All in on Solana…Just copped a Catalina Whale… pow pow!”
You could have minted a Catalina Whale for 1 SOL back in December. The current floor price is 16.7 SOL. This is what’s routinely happening in the NFT space.
And unlike Ethereum, Solana NFTs are in their early stages.
Magic Eden and Solanart are very small compared to Opensea – the largest NFT marketplace by far. And there are rumors brewing about Opensea integrating Solana NFTs in the near future. If and when this happens, I think it’ll be massive. Mike Tyson sees it too.
You might think this NFT phenomenon is a joke and a fad. And you might be right.
But for now, in an uncertain market, I’m going where the profits are.
In Crypto Cycle we will show you how to set up everything you need to start purchasing Solana NFTs along with many other digital assets and cryptocurrencies.
I’ll also show you what I’m buying.
Today is the first day you can purchase a membership to Crypto Cycle. You can do that here.
The first issue comes out this Wednesday, and I’m eagerly looking to start building our $50,000 real-money portfolio of crypto and meta assets.
See how you can do that alongside us here.
Keep coming back,
Chris Curl,
Editor, Daily Profit Cycle