I have spent a lot of time and typed a lot of words of late looking backwards and pontificating about what used to be. Fact is, time is moving forward, and it’s all the more essential for those of us who have relied upon legacy behaviornfor our livelihoods to embrace both the complexity and the significant opportunity of emerging industries. Few are as intruging–or as potentially lucrative–as NFTs.
I admit I’m not as well-versed on this subject as I should be, and apparently I’m not alone–a reported 70% of adults who have heard of this acronym don’t know exactly what NFTs are. Well, we’re all in luck!. An actual in-person one-day expo will be held at the end of this month at the gorgeous Marriott Marina Del Rey that will provide attendees with a chance to not only learn what and who are already in this world, but solid reasons why that can provide immediate potential for you to capitalize.
The first of a series of Los Angeles-area NFT Expos will be held on July 28th, courtesy of Art and Living, Inc, According to its press release, the NFT EXPO will “provide the creative community with the basics that need to be understood before entering the NFT world. Aimed at brands, creators, and investors, these expos will focus on how to create and protect assets created, simplifying the process so creators feel well educated and welcome to get involved.
Said Jeff Marinelli, founder/publisher of Art and Living Magazine:
“From the beginning, Art and Living has been about the creator sharing a vision that art is meaningful and should be accessible so it can be experienced by everyone,” NFTs offer a unique opportunity to artists and brands, but only if they understand how to navigate this new landscape. We are at the forefront of a groundbreaking phenomenon with the potential to link NFT’s to real-life assets and promotions, which is why it is so important to educate those in the creative space before they jump in feet first.”
And according to a report in this week’s Variety!, the timing of this conference cannot be more ideal. There’s an awful lot of misinformation about there that lumps NFTs in with crypto, which has seen a significant drop in valuation and a toxic stench among investors of late. NFTs are not crypto. As VIP+’s “Web3 Demystified” special report notes, an NFT conceptually is a blockchain ledger detailing ownership. How this is utilized depends on the individual, and it is now that non-image NFTs are rising to prominence”
This perception has not been helped by the impact of what’s being called “crypto winter”: The recent drops in the value of cryptocurrencies has seen corresponding declines in the value of NFT sales, which makes sense considering many markets were pegged to that value.
While it is accurate to say that the collectibles NFT market is slowing, when looking at total volume of transactions, the decline is muted. June saw an 11% drop in total transactions from May, a significantly lower fall than the 72% seen in sales value.
The full article in the below link graphically demonstrates the magnitude and recency of declines. January was indeed the high watermark; there has been erosion. But in many worlds, that signals opportunity. And with numerous music, sports and entertainment icons still very much involved, there are clearly people with stronger portfolios and savvy than most that see it.
And you have a unique opportunity to see them and others with similar aspirations in person. Because the business may be virtual, but at long last the conference won’t be.
You’ll read more in the coming days about this. A section of this will be fully dedicated with active links to purchase your tickets. We both benefit if you do that, so I’ll slyly urge you to do so from these pages. Below will be your first of many chances to do that.
I’ll be there, Jeff will be there, and a lot of other smart people will be there. I’ll be dressed classy; no sweatpants allowed here. And I sure hope you’ll be there too.
Until next time…