Their popularity has surged over the last decade, with the asset class growing from just over $3 trillion in 2008 to more than $10 trillion in 2019, according to data provider Preqin.
Institutions have fueled a large part of this growth, but 'average' investors are increasingly seeking a slice of the markets for crypto, real estate, art, music royalties, and private equity.
Veteran investor Eric Satz realized how difficult it is for the average person to invest in alternatives when he first tried to deploy money from his IRA into private companies.
Using self-directed IRA companies to make such investments was costing Satz over $500 a year in fees, a problem he aimed to solve for others by launching Alto in 2018.
Alto’s self-directed IRA platform provides a simpler, more affordable option for individuals to invest their retirement savings into alternatives. The company provides its users with access to a host of alternatives through its partnerships with ~75 investment platforms.
NFT marketplace OpenSea raised $300MM last week, boosting its valuation to a monster $13.3 Billion.
Founded in 2017, the company has now raised a total of $427 million, according to Crunchbase.
Is this yet more evidence of how overheated things have become in the NFT and crypto collectible space? After all, OpenSea last raised at a fraction of its new valuation around six months ago, adding $100 million to its accounts at a $1.5 billion valuation in July.
Related: User-friendly NFTs. OpenSea is reportedly in talks to purchase Dharma Labs, a digital wallet platform that could make NFT purchases more user friendly. (We live in hope).
Eminem spent over $400,000 on a Bored Ape NFT that is supposed to look like him. The rapper reportedly owns 15 NFTs on OpenSea under the name Shady Holdings. Enough said.
Apocalyptic Apes are a derivative collection of the famous Bored Ape Yacht Club.
One World Universe Inc. (OWUV) is a publicly traded company that invests in sports related businesses, distressed assets, and business opportunities within emerging industries.
Dana Salzarulo of OWUV stated:
"We feel the Apocalyptic Apes is a 3rd tier and a perfect price range for Ape NFT enthusiasts on a budget can invest in. This morning we swept the floor and grabbed 10 of them to HODL in our Metaverse Holding portfolio."
(We forgive Dana for his 3rd-tier grammar)
NFT marketplace OpenSea froze 16 Bored Ape and Mutant Ape NFTs after they were reportedly stolen from a New York art gallery operator.
The freeze on buying and selling the NFTs had some traders decrying a lack of decentralization, one of the cherished aspects of the crypto industry.
(Surely this action makes a mockery of the word "decentralized?")
“Trustworthy” Site Disappears
Arbix Finance, an audited and supposedly trustworthy yield farming platform, has been flagged as a 'rugpull.' The company deleted its website, Twitter, and Telegram channel and transferred $10 million worth of deposited cryptocurrency.
The Russian chess grandmaster - ranked No. 1 from 1984 to 2005 - sees the world with a certain clarity. So it will delight many in the blockchain industry to learn that Kasparov is now a champion of cryptocurrency.
Bitcoin offers protection against rampant government spending, says Kasparov, "because you're protected by math" - by the logic of the code itself.
Smash Digital - a growth agency, filled to the brim with unicorn images and SEO memes. A team of SEOs with actual skin in the game, ranking their own portfolio of profitable businesses, and offering the exact same services to clients. An agency with so much link juice you’ll need a mop and bucket to clean it all up.
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