More than half of millennials and nearly three-quarters of Generation Z are considering including NFTs into their investment portfolios, reveals a new survey.
The findings from a global poll carried out by deVere Group, one of the world’s leading financial advisory, asset management and fintech organisations, show that 52% of those born between 1980 and 1996, and 74% of those born between 1997 and 2012, would welcome the inclusion of Non-Fungible Tokens (NFTs) into their portfolio mix.
More than 600 of the organisation’s clients under the age of 42 were surveyed across Europe, North America, Asia, Africa, Australia and Latin America.
An NFT is a digital asset, such as an image, audio clip or GIF, whose ownership is recorded on a tamper-proof digital ledger known as a blockchain.
This emerging asset class took off in a considerable way last year with a digital-only piece of art selling for $69m. Since then, an increasing number of celebrities, and artists, as well as fashion, music, tech and sports brands have been creating, buying and selling NFTs.
According to deVere CEO and founder Nigel Green: “The findings of this poll underscore that digital natives – those who have grown-up immersed in a fully accessible digital life – understand that unique, highly portable and transferable digital assets have an intrinsic value and that this is a trend that will inevitably grow moving forward.
“They know that how we live, study, work, interact and enjoy downtime is increasingly digitally orientated. As such, it’s natural to want to take digital representations of fashion brands, music, sport and art into the digital space – and now we can with NFTs.”
He continues: “Clearly, this groundswell of digital engagement is creating new business models across many sectors.
“Sensibly, younger generations – who instinctively better understand it – appreciate that, therefore, it’s going to shape the future of investing.
“They’re keen to have a stakeholding in this new financial ecosystem by including NFTs in their portfolios.
“We expect this could be a sound strategy. Not only because NFTs are likely to be an intrinsic component of the global digital architecture of the future, but also because this hot new asset class can act as a major diversifier in investment portfolios.”
This last reason, says Nigel Green, is arguably the most important for the majority of investors.
“Proper diversification of a portfolio across asset class, sector, region, and currency is the best way an investor can best position themselves to mitigate risks and to seize opportunities when they are presented.
“NFTs have a very low correlation to other assets, such as stocks and bonds, and can, therefore, lower your portfolio’s overall risk and volatility levels.”
As NFTs become increasingly mainstream by those wanting to seriously build wealth for the long-term, earlier this month, deVere Group launched dV Gems, a non-fungible token (NFT) platform that aims to give investors access to an emerging asset class and streamline digital ownership.
At the time of the launch, the CEO noted: “deVere has always been ahead of the trend in financial services. Our new NFT platform is another first.
“Uniquely positioned to help investors see value and opportunity in a digital financial era, dV Gems will provide immediate access to the decade’s hottest emerging asset class – an asset class that will become a standard feature of investment portfolios within a few years.”
Of the findings of the recent poll of clients, Nigel Green concludes: “As the token economy and decentralised technologies develop at pace, the huge investment potential between millennials, Gen Z and NFTs looks ever-more undeniable.
“No longer content to consider only traditional portfolio components, such as stocks and bonds, younger generations are set to own a raft of different digital assets too. And this makes sense in today’s world.”
Bitcoin Bulls Run Amok: Short Traders Hit with $90 Million Loss Amidst Unstoppable Surge
The relentless surge in Bitcoin’s prices has left short traders reeling as highly leveraged futures bets against the cryptocurrency incurred losses totaling $90 million on Tuesday alone.
This follows an additional $70 million in short liquidations on Monday, contributing to Bitcoin’s remarkable climb from $39,000 to $44,000 this week.
According to data from CoinGlass, most of these liquidations transpired on major crypto exchanges, including Binance, OKX, and Huobi.
The substantial liquidation figures have the potential to signal either a local top or bottom in a significant price movement, providing valuable insights for traders looking to strategically position themselves.
The surge in trading volumes, up by 25% in the past week, coupled with the growth in open interest from $17.2 billion to $20.2 billion since the beginning of December, underlines the increased market activity around Bitcoin.
Several factors are contributing to Bitcoin’s recent growth. Optimism is swirling around the potential approval of a spot exchange-traded fund (ETF) in the U.S., with traders factoring in anticipated rate cuts, buoying riskier assets like technology stocks and Bitcoin.
Additionally, the possibility of sovereign adoption is gaining traction as leaders in major economies express a Bitcoin-friendly stance.
Over the weekend, a notable group of traders committed to a $200 million BTC futures position, emphasizing the sustained demand for exposure to Bitcoin.
Amid continuous updates and changes in spot ETF applications, some industry observers foresee Bitcoin prices surpassing the $48,000 level in the coming weeks, further intensifying the cryptocurrency’s bullish momentum.
Dogecoin (DOGE) Rides Bitcoin Surge, Gains Over 10% in 24 Hours
The cryptocurrency market is witnessing a resurgence of risk appetite as more investors jump on unconventional choices such as Dogecoin (DOGE), Shibacoin, Memeland, etc.
In the past 24 hours alone, DOGE has surged by over 10% to $0.10 a coin for the first time since April following Bitcoin’s climb from $38,000 to $44,000.
This surge, coupled with the rising price, validates the upward trajectory of DOGE, signaling growing investor interest.
Funding rates on various exchanges have also experienced a substantial surge, hitting an annualized 50% or more.
These rates, reflecting a steep premium in perpetual futures relative to spot prices, indicate a prevalent bullish sentiment among investors.
It underscores their collective optimism, suggesting a belief that prices are poised for further upward momentum.
Joke cryptocurrencies like DOGE have historically exhibited high-beta characteristics, closely mirroring Bitcoin’s movements but often with greater intensity.
Investors are advised to exercise caution and monitor DOGE’s potential for extreme bullish action relative to Bitcoin, serving as a potential indicator of speculative exuberance typically observed in the latter stages of a widespread bullish trend.
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