Monday, April 26, 2021

Today in Global Small Business: Non-Fungible Tokens (NFTs) or All Things Crypto

©iStock/Marina Funt
What's affecting me, my clients, my colleagues and other global small business owners:

  • Fungible (adj.) — able to replace or be replaced by another identical item; mutually interchangeable.
  • Speculative crypto art market takes off.  Why?  "Our digital lives are surrounded by countless digital objects. NFTs are a way to imbue such objects with financial value. When that happens they take on a new level of significance and importance."
  • Lindsay Lohan sold a photo of herself for $17K – and then tweeted about it.
  • Quote of the week:  "Billionaire Mark Cuban is selling a motivational quote as a NFT for $1,700. " – Markets Insider, March 13, 2021
  • Shark Tank celebrity and owner of the Dallas Mavericks Mark Cuban sold a tokenized version of one of his tweets for $952.  The sale was made via the Valuables platform. 
  • A clip of LeBron James blocking a shot sold for $100K last month.

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