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People angry about a jpeg 🖼 selling for $1 mn fail to see the big picture. If you understand the nature of assets & long-term macro backdrop, it’s easy to see why NFTs will grow exponentially. Here’s a simple framework to help wrap your head around this new asset class. WHAT ARE ASSETS? They are instruments to transfer ownership of value across time and space. Your Amazon stock is ownership on Amazon future earnings. Your…

If you mint a NFT based on a physical asset, e.g. a 💎 , how much should it be worth? It seems a complex question, but is actually easy to answer w/ classical asset pricing principles. Let’s see how to set a floor price for my diamond NFT & learn some asset pricing methods 👇 For background, I’m doing a destroyed-diamond NFT experiment, where I buy a real diamond—> create an associated NFT—> destroy the…

Me: I bought a diamond yesterday. Mom: Nice. They’re good investments. Me: I’m going to smash it & sell it as a NFT. Mom: Say again? So I tried to convince my mother (accountant w/ 30 yr experience) that NFT is a better asset than diamond. Did I succeed? Let’s find out 👇 First off, if you’re out of loop, this all started b/c I’m doing an experiment inspired by all the brilliant comments people…