Now in its second decade of existence, cryptocurrency has finally found its way into American culture. Recently, whether music, art, or sports, non-fungible tokens (NFTs) have become ubiquitous. And for investors, that shift in focus means opportunity.
“We’re seeing this convergence of culture, finance, and technology,” Jamie Burke, Chief Executive Officer of VC fund and accelerator Outlier Ventures, told CoinDesk. “It’s no longer just a technological paradigm shift. It’s no longer just a new financial system. It’s also a new way in which culture is made, consumed, and distributed.”
To invest in the culture of crypto, experts recommend focusing on passions, hobbies, and interests that people care about. “When we look at investments we look at passion first and then say, how is this uniquely unlocked by crypto?” Jarrod Dicker, Partner at The Chernin Group, told CoinDesk.
Dicker, who has a passion for music, can be part of that world through cryptocurrency. A project like the decentralized record label Hume lets the community find and nurture talent through NFT ownership.
Similarly, Web3 projects like Arkive and PleasrDAO allow members to be museum curators and vote on which assets to buy. And, you can own part of a golf course through LinksDAO or a portion of a soccer team through WAGMI United, if sports is your passion.
VC funds like Outlier invest early in projects, becoming accelerators. Others who invest later gain exposure through tokens, purchasing them as they would buy shares of stock. Or, they invest in the NFTs or blockchain.
Beyond sports, art, and music, culture could encompass fashion, movies, dating, religion, food, and literature, offering crypto investors an array of potential projects. Essentially, no matter what someone’s passion, there is a way to apply crypto and NFTs to it and deepen investment in it.
It is this possibility of sheer ubiquity that may in the end be the NFT’s saving grace.