Stock Market Themes & NFT Ponzi Schemes | Midas Letter RAW ft @ClassicValueInv @NewlyInstitute
NFTs, or non-fungible tokens hit the market last year and like their crypto cousins have exploded in supposed value. In an ideal world, NFT’s can provide secure revenue opportunities for artists who will have greater protection for their work due to blockchain technology. On the other hand, there are stories like Doodled Dragons.
Doodled Dragons was an NFT project that was supposed to donate proceeds to the World Wildlife Fund. Before its owner pulled the rug out from under their investors feet.
“actually. f*ck that. our charity will instead now be… my bank account. cya nerds,” wrote the Twitter account behind Doodled Dragons before running away with at least $30,000 worth of donations.
This rightly had a lot of backlash highlighting the issue of regulation or lack-there-of in the entire NFT market. Not all NFTs are created equal. Some, if not, most are just money grabs with little to no liquidity, others are great pieces of art, and others have utilities built into them to provide their owners exclusive perks.
Those who minted Doodled Dragons NFT were sold a lie and are now left holding the bag of worthless jpg’s.
What are your thoughts on NFTs as a whole, NFT security and regulation?
This week’s episode of Midas Letter RAW has two exclusive interviews:
MicroCap Explosions Founder Mariusz Skonieczny
MicroCap Explosions is a private membership website focused on finding investment opportunities in the microcap and small-cap space where the competition from retail and institution investors is extremely limited. Mariusz started with $10,000 in 2009. By the end of 2021, the account reached $7 million or 700x.
The Newly Institute CEO Arthur Kwan interview
By fusing a bio-psycho-social-spiritual treatment model with medical-assisted therapies, The Newly Institute is helping patients overcome deeply embedded traumas, addiction, and pain that prevent them from living fully in their everyday lives.
00:00 – Midas Letter RAW
00:20 – Coming Up
01:08 – Audience Questions
01:11 – USA legislation affecting Canadian cannabis businesses
01:54 – Why James sold $GMG?
02:32 – Buy the dip? & $META drop
03:59 – Midterm elections vs Fed changing rates
04:46 – Standout earnings reports?
05:49 – $GOOGL 20—for-1 stock split
06:44 – S&P 500 performance
07:20 – Mainstream media’s “strong economy” narrative
09:09 – Reactions to TikTok’s
10:02 – Doodled Dragons NFT scam
11:01 – NFT valuations
12:06 – MicroCap Explosions Founder Mariusz Skonieczny interview
23:30 – Voxtur Analytics $VXTR $VXTRF chart
23:54 – The Newly Institute CEO Arthur Kwan interview
32:56 – The Newly Institue Pre-IPO round
33:12 – Spotify $SPOT Joe Rogan/Artists drama
33:48 – Ottawa trucker protests