Beeple’s NFT Sells for $69 Million – Should You Get In? | Brandon Averill, Justin Dyer | AWM Insights #54

In this episode, Justin and Brandon discuss the week in finance and investment news including the $1.9 trillion stimulus that recently started getting divvied out, a “status quo” Fed meeting, and new inflation worries riding on the tails of a slight interest rate jump. However, the big news this past week – and our main discussion for the episode – is of the digital artist Beeple selling his work The First 5,000 Days as an NFT (non-fungible token) at Christie’s for $69.3 million. Christie’s reported 64% of the bidders for this digital piece of art were under the age of 40.The NFT excitement has hit new highs and we’ve had clients asking about whether they should incorporate them into their portfolios. Justin and Brandon discuss what exactly an NFT is, the arguments from crypto maximalists, and the biggest questions to consider before getting into NFTs, Bitcoin, and other cryptocurrency. Episode Highlights(2:13) How are we helping our clients implement their desire to be in the NFT space?HBO’s Last Week Tonight’s John Oliver describes NFTs as “Everything you don’t understand about money combined with everything you don’t understand about computers.”(3:17) What is an NFT?(4:13) Beeple’s NFT The First 5000 Days sells for $69 million(5:31) Should you be a crypto maximalist?(7:02) The valuation formula(9:13) The two reactions to Beeple’s NFT sale(9:56) Questions to consider before getting into NFTs and cryptocurrency(13:24) Should you just stick your head in the sand? (15:11) Bitcoin’s fork(18:14) Getting your priorities in placeMore info at awmcap.co/insights54