Find Profitability in These 2 NFT Projects
In this visually engaging segment, Financial News Anchor Jessica Borg interviews crypto expert Joel Kruger, editor of NFT Wealth Builder, about the traits of successful NFT projects, two recommendations that are on the rise and Joel's own dynamic digital creation.
You can watch the video segment or continue reading for the full transcript.
Jessica Borg (narration): Non-fungible tokens (NFTs) have become a vast and vibrant marketplace.
And it's just getting started.
JB: People want to know what to look for in an NFT. I ask you, Joel Kruger, how do you assess one? What qualities do you look for?
Joel Kruger: For me, it's always looking for something that speaks to me in a way where I understand it.
Many times, I like that it's trying to do something different, or it's looking to push the boundaries as far as the experimentation of where we might be able to go with this technology.
JB (narration): Currency expert Joel Kruger is the mind behind NFT Wealth Builder.
He helps investors navigate this new space, where unique digital assets have value, and anyone can trade them, without intermediaries.
If a piece is cutting-edge, Joel is paying attention.
JK: I always say art, community, culture, and utility are the things that I look for.
Do I think there will be a community around it and a culture around it that will be able to sustain itself?
JB (narration): He says those qualities are in the Tom Sachs Rocket Factory.
It's a recent recommendation that's already "skyrocketed," showing great returns.
JB (narration): Joel interviewed Sachs for NFT Wealth Builder subscribers.
JB (narration): Sachs has been a renowned artist for decades.
JK: You're known as a sculptor and you're coming from that world, and you're coming into the digital space and yet, you have so much of a connection to all these incredible films.
Tom Sachs: I like art in any form, and I don't care if it's a canvas or a marble, or a JPEG (Joint Photographic Experts Group).
JB (narration): The Rocket Factory is a chance for collectors to essentially create their own NFT. They can buy three separate components and combine them in any way they want.
Real brands are part of the art.
JK: There's a Simpsons rocket, there's a 7-Eleven rocket.
If you're collecting them, you can form what he calls a "Frankenrocket," like a Frankenstein rocket, which is a blend of the different brands.
We've since seen Budweiser (BUD) come out and collect its rocket.
JB (narration): Tiffany & Co. just bought its rocket for $380,000.
JK: It's been really nice to see that. It was something that I thought about when the project was launched, like how cool would it be if these brands get involved and they want to participate and they want to buy into this project. It's a way for them to have exposure to NFTs and dip into the space.
Tom is asking the question about the relationship between the physical and digital and how they can coexist. It is something that he believes.
As a project, it's just going to become more and more important.
JB (narration): Joel guides investors to pieces that he thinks will appreciate over time. The Tom Sachs project is one of them.
JK: And so, for me, it's a no-brainer. The value proposition is already there in just how interesting this is, and then we have the opportunity to be a part of something with somebody who is already so accomplished.
JB (narration): Another notable NFT project is Streetlab, which a brand-new platform for street art. It's a form of art that hasn't always been accepted in the mainstream.
JK: We're talking about a time where you have all these platforms now, these big platforms that people use for NFTs — they're like these mass repositories — and now, when you're talking about these niche verticals that are happening, niche platforms around specific forms of art or whatever it may be, well, that sort of becomes interesting, too.
So, to me, it was just like, "I love street art, I think it's super cool and now there's a project that's sort of embracing that."
I love the idea of anywhere being a canvas.
JB: Do you imagine that this niche will take off?
JK: We've seen that street art and graffiti art has been around for a long time, and so, if they can capture that market and they can bring artists that are already in that field into this project, then I think it can be very, very successful.
JB (narration): Joel says that in general, the secret to success is to get in early.
And specifically with Streetlab, right now prices are appealing.
JK: The cool thing is the value proposition is always something I think about and to buy one of these NFTs, it's going to be less than .1 Ethereum (ETH). So, .1 is $300, depending on where ETH is trading, so it's pretty cheap.
And certainly, when you compare it to other projects that I've been talking about recommending, this one is on the low end of entry price.
From a risk-reward standpoint, it almost becomes silly not to want to participate because the upside is so tremendous, and the downside is basically nothing.
JB (narration): And here, the utility aspect — the different benefits you get for investing — means more art.
JK: The nice thing about the utility of this project is that there are different levels of participation, based on how many you collect.
Just by owning one of these NFTs, you are effectively given the right to participate in future NFT drops that the public wouldn't have access to early on.
So basically, even on the smallest level of participation, you're ensuring yourself rights to future drops and future art that comes out through the project.
JB: And I know, Joel, you don't like to talk about your own digital creations, but you have a striking new piece out.
JK: It's called WAGME's Fry Shack. "W.A.G.M.E." is an acronym for "We Are Going to Make It."
There was just a vibe that I wanted. I wanted it to be this beach bar feel, and just a fun place where you can hang out and sit and chill and have a good time and maybe take in some art and some live music.
JB: If I could jump through the computer screen and enter that beach screen and listen to the music all day, that would be a good thing.
JK: Thank you. I have entertained the idea or teased the idea of perhaps buying a place and making a real-life version of WAGME's Fry Shack. I've been talking about doing something like that for years, so maybe it'll happen.
JB (narration): That's just one example of the intersection between the digital and physical realms.
Expect many ways to invest and profit from it in the coming months and years, as blockchain technology advances, and different uses for NFTs gain more and more momentum.
JB: NFT analyst Joel Kruger, thank you so much for your expertise today.
JK: Jessica, my pleasure, always.
Best wishes,
The Weiss Ratings Team
