ROLLUP: 3rd Week of January

Celebrities & NFTs

Celebrity involvement in the crypto space is increasingly evident, with figures like Soulja Boy exploring NFTs. David Hoffman and Ryan Adams discuss how celebrities are drawn to NFTs due to their resonance with creative expression, unlike the failed attempts to launch personal cryptocurrencies in 2017 1. They highlight the shift from creating individual tokens to leveraging NFTs as a more fitting medium for artistic endeavors.

We don't need a currency per celebrity. However, celebrities are fine to make art because that's kind of what they do already.

--- David Hoffman

This trend signifies a stronger product-market fit, aligning with the natural inclinations of artists and entertainers 1.

   

Mainstream Finance

Mainstream finance is beginning to recognize the potential of Ethereum, as seen in Fundstrat's bullish prediction of ETH surpassing $10,000. Ryan Adams notes that while these predictions are gaining traction, there remains a gap in understanding Ethereum's true value and function 2. The report's assertion that blockchain computing could be the future of the cloud reflects a growing interest in crypto assets among traditional investors.

If they did understand it, they'd probably be a higher valuation.

--- David Hoffman

This shift in perception indicates a broader acceptance of cryptocurrency as a viable investment, despite lingering misconceptions 2.