I saw this chart today over on Twitter and said this:
We have two financial markets right now. One with incredible volatility (crypto) and few rules, and the other with too many and not enough enforcement that has seen no volatility – the S&P…
Real estate, smartphones, used cars and luxury watches seem to be the physical assets that people in both financial markets are willing to part with on their way back and forth between the markets.
The crypto exchanges have been the huge winners so far in the digital markets, but with the interest in NFT’s and digital goods and art, the ‘wallet’ has become a very important part of the market. as my friend Kyle at Multicoin told me… ‘owning the front end is a position of power’.
I finally got a Rainbow wallet after it was mentoned to me 10 times the last few months and if you are at all interested in the world of NFT’s or digital goods the Rainbow wallet is good.
As my friend Justin says (who is very deep in all of this)…the wallet is like Venmo meets Pinterest meets Robinhood.
The digital wallet is the new internet browser with the extra cool spending layer built in. Obviously you better take your security seriously and start small.
Have a great weekend.
PS – Two great riffs on crypto this week – the first from Fred Wilson totled ‘The Opening’and the second a Chris Dixon Twitter thread which is a must read as well.
