HomeLatestInstagram Announces Plans for NFT Marketplace
Instagram Announces Plans for NFT Marketplace
December 22, 2021 at 5:05 pm - by Kevin Flynn
The battle lines are being drawn. Following the dawn of Meta (FB) last month, Instagram has now thrown down their gauntlet for early control of the Metaverse. Company CEO Adam Mosseri announced over the weekend that Instagram will “actively pursue” building features for incorporating non-fungible tokens. They’re looking to be the leading NFT marketplace.
We need to find Luke Skywalker. The evil emperor (Zuckerberg) and his sidekick Darth Vader (Mosseri) are pushing the dark side of corporate control into the Metaverse. As the top two social media platforms, they have an advantage. The rebellion is undermanned and short on resources. Can they wrest control from the emperor’s stormtroopers?
Winklevoss Twins, Nike, and Disney are in the Fight
It’s been nearly twenty years since the Winklevoss twins lost their first-round fight with Mark Zuckerberg. They have not been idle. Cameron and Tyler established the Gemini Crypto Exchange and partnered with crypto podcaster Andrew Steinwold and Andreessen Horowitz to create a $100 million NFT fund. They are in the fight for Metaverse control.
NFTs are the key to ownership in this virtual universe that’s being created. Nike (NKE) made their move on the technology earlier this month when they purchased RTFKT (pronounced “artifact”), a creator of virtual sneakers and collectibles. The company also makes 3-D avatars. Can we expect to see “pumped-up kicks” in the metaverse? Nike seems to think so.
Disney (DIS) won’t be denied their piece of the pie. CEO Bob Chapek announced in an earnings call last month that the creation of a “Disney Metaverse” is already under way. With their production capabilities and resources, it certainly won’t be a “Mickey Mouse” effort. The Magic Kingdom might be the most formidable adversary to the Evil Empire.
Independent Players Could Tip the Scales
Personally, I do not, nor will I ever, invest in Meta, Nike, or Disney. I will invest in Gemini if they ever go public, which might happen next year. The other three are just different versions of the same problem. Each of them stifles creative freedom in their own way, something that cannot be allowed in the metaverse. I’m betting on the independents to tip the scales in this war.
Roblox (RBLX) is one company I can get behind. Gamers, despite the negative stereotypes, are some of the coolest people I know. The stock is up 45% this year. On that same note, I also like Immersion (IMMR). The makers of “touch” virtual technology have taken some hits this year, but the price is right to buy and the metaverse is a huge opportunity for them.
With tax-loss harvesting season coming to a close next week, now is the time to look for bargains in this space. Check out Tokens.com (SMURF). The Canadian “crypto staking” firm has an innovative business model and is positioning as a “vertically integrated real estate company for the metaverse.” That should be fun to watch. I bought in this morning.
Share this article:
Disclaimer
This communication was produced by Prism MarketView, an affiliate of PCG Advisory Inc., (together “PCG”). PCG is an integrated investor relations, communications and strategic advisory firm. The information contained on this is ‘Paid Advertising’ for purposes of Section 17(b) of the Securities Act of 1933, as amended (together with the rules and regulations there under, the “Securities Act”). “PCG” and its affiliates are compensated by respective clients for publicizing information relating to its client’s securities. For more information in terms of compensation received for services provided by PCG, see the pertinent advertising materials relating to the respective client. By accessing this Site and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy…
This communication was produced by Prism MarketView, an affiliate of PCG Advisory Inc., (together “PCG”). PCG is an integrated investor relations, communications and strategic advisory firm. The information contained on this is ‘Paid Advertising’ for purposes of Section 17(b) of the Securities Act of 1933, as amended (together with the rules and regulations there under, the “Securities Act”). “PCG” and its affiliates are compensated by respective clients for publicizing information relating to its client’s securities. For more information in terms of compensation received for services provided by PCG, see the pertinent advertising materials relating to the respective client. By accessing this Site and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy.
“PCG” and its affiliates are not a registered or licensed broker, dealer, broker-dealer, investment adviser nor investment manager, nor does “PCG” engage in any activities that would require such registrations. “PCG” and its affiliates do not provide investment advice, endorsement, analysis or recommendations with respect to any securities, and its services to or statements about its clients should never be construed as any endorsement of or opinion about any security of any client. No information contained in this communication constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other similar product or service regardless of whether such security, product, or service is referenced in this communication.
Our articles, reports/releases and videos are a commercial advertisement and are for general information purposes ONLY. We are engaged in the business of marketing and advertising companies for monetary compensation. We only publish favorable information because we are compensated to publish only favorable information. We are not objective or independent and have multiple conflicts of interest. The Profiled Issuers and parties hiring us have conflicts of interest.
The contributors may buy and sell securities before, during and after any particular article, report and publication. In no event shall “PCG” or affiliates be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or made available by “PCG”, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages.Further, nothing in this communication is intended to provide tax, legal, or investment advice and nothing in this communication should be construed as a recommendation to buy, sell or hold any investment or security or to engage in any investment strategy or transaction. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investors investment may be lost or impaired due to the speculative nature of the companies profiled. Never invest in any stock featured by “PCG” and its affiliates unless you can afford to lose your entire investment.We urge Investors to conduct their own in-depth investigation of the Profiled Issuers with the assistance of their legal, tax and investment advisers. An investor’s review of the Information should include but not be limited to the Profiled Issuer’s financial condition, operations, management, products or services, trends in the industry and risks that may be material to the profiled Issuer’s business and other information he and his advisers deem material to an investment decision. We encourage our readers to invest carefully and read the investor information available at the web sites of the U.S. Securities and Exchange Commission (SEC) at www.sec.gov and the Financial Industry Regulatory Authority (FINRA) at www.finra.org.
For full disclaimers, including compensation received for professional services, please visit www.pcgadvisory.com/disclosures.
Even the Elf on the Shelf can’t convince this fund to focus on being good. With the apt ticker of…
Share This Article
About the Author
Kevin Flynn
A former financial professional and founder of AdvisorScale Financial Writing, Kevin lives in Leominster, Massachusetts with his wife Evelyn, two cats, and nine wonderful grandchildren.