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Non-Fungible Tokens (NFTs): Hype or New Asset Class?

Released on Wednesday, October 6, 2021•ALTERNATIVE INVESTMENTS

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Demand for Non-Fungible Tokens (NFTs) are showing on OpenSea alone, an NFT exchange, with sales of more than $300M in daily volume across more than 40,000 daily users. Visa has purchased a CryptoPunk, and NBA superstar Steph Curry acquired a Bored Ape Yacht Club NFT. What is it about these NFTs that has celebrities, artists, billionaires, and professional athletes tweeting and collecting them? These tokens have done what no other digital system has done, they create verifiable proof of virtually anything through the blockchain. This makes pictures of apes, music royalties, and one-of-a-kind art pieces, that live in the digital world, actually have immense value. The question is, will it last or is this hype as opposed to a new asset class?

Noble Drakoln

WarePlay Games Inc., CEO

Noble A. Drakoln is a 30-year veteran of the futures and commodities industry. After writing the trading books published by Wiley and Sons, Winning the Trading Game and Trade Like a Pro, he retired from the industry and stumbled upon a little-known technology that combined augmented reality with real world items. Once the pandemic hit, he converted that knowledge into game called Carousel World; combining NFTs, crypto and augmented reality and sold over $200,000 in NFTs at the end of 2020 - beginning of 2021. Carousel World is now developing its own metaverse combining crypto, NFTs, and augmented reality to take the "Play-to-Earn" world by storm.