NFTs have taken the world by storm in the past 18 months, potentially unleashing a social movement in digital identity and community. As a macro specialist, non-fungible tokens (similar to collectibles) do not get me particularly excited because they don’t suit my analysis framework. I like to look at monetary, social and economic trends and invest into deeply liquid assets that can best capture those trends. So, I have observed the social trends from the sidelines while others have made fortunes trading NFTs. In this article I will lay out a few of those observations. I appreciate that I may just be salty from FOMO, but I will be as objective as possible. Those who are clued-up on NFTs should skip the definition and history, read the critiques and macro conclusions.
TLDR: I appreciate the excitement and am grateful to NFTs for broadening the social movement and could be a very important social commentary in the years ahead, but I worry that they are an expression of the very monetary problems we need to solve through decentralized sound money.
I have launch Sound Money Capital and have posted March’s full article about NFTs here: https://www.soundmoney.capital/insights/nfts.If you would like to receive regular Sound Money market updates via email, send a request HERE