With all of the uncertainty and volatility we’re seeing in the stock market these days — inflation, the Nasdaq snapback, etc. — we thought we’d touch on something that has us excited. There’s a new crypto that is sweeping the nation — even more than Bitcoin.
We’re talking about trading the NFT movement.
A non-fungible token (NFT) is an alternative form of cryptocurrency. Rather than a company using an outside crypto, it will create its own NFT — based on blockchain tech like Bitcoin — that can be used as payment.
For example, the biggest NFT right now is from the NBA. On the website, you can buy the rights to video trading cards using the crypto.
By trading your NFTs, you could own the rights to a clip of Lebron James doing a crazy dunk — in fact, one of these just sold for $200,000! Each clip is individually numbered and priced according to popularity, how cool it is, etc. It’s all the rage with kids these days. But here’s the best part:
Both the tokens and the clip appreciate in value. As the clip becomes more popular and the site expands, you could have a double whammy of increasing value.
Trading the NFT Movement: A New Wave of Crypto
For our readers that have been following, you’ll know we’re not big on certain trends like GameStop Corp. (NYSE: GME) and cryptos. We like to trade stocks and stick with what made us.
But we’re excited about the possibilities of the NFT movement. The NBA video cards are just the beginning. More and more companies are creating their own NFTs, and the technology of this is just beginning.
Who knows where it could lead us?
And one thing we’ve noticed is that GameStop is moving just like a crypto. Its volatility is insane but its movement is similar to how cryptos suddenly rise and fall.
People are looking at this company like it’s going to be the future of the video game industry, just like they believe cryptos are the future of currency.
And to some of us, that sounds crazy.
But we’ve got a big trading tip for you as technology advances and the world changes: Keep an open mind!
Check out our video below as we sit down with WealthPress Senior Strategist Roger Scott to discuss trading the NFT movement, the markets and more.
Feel free to email your trading questions to jeff@joyofthetrade.com and make sure to stay ahead of the markets by subscribing to our YouTube channel.
P.S. Every single day, right around 3 p.m. EST, a market anomaly forces Wall Street to start bleeding cash… giving everyday traders the opportunity to make consistent overnight returns.
This 3 p.m. “Burn Window,” as we call it, allows anyone to buy low and sell high just 18 hours later. In fact, we’ve already used this strategy to bag dozens of overnight winners for our readers.
Now, we’re getting ready to reveal exactly why these massive profit opportunities happen — and how you can start taking advantage of them right away.
