Market Rundown: NFT Sells for $532 Million

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HouseKeeping: This Sunday for GoldFix legacy “Coffee Crew” we will have a masterclass on Zoom. Founder subscribers are invited to attend. If Founders cannot attend, a recording will be made. Full Masterclass archive will also be made available to them next week. Look for a link to be emailed Saturday late afternoon/ evening with the Premium report
UPDATE 8:45 AM: NFT Wash Trade
Good Morning. Big Data Day
The dollar is stronger this morning. Bonds are essentially unchanged. Stocks are lower. Nasdaq and tech stocks are leading the way down this morning after the Amazon earnings miss. Gold is weaker. Most heavily traded commodities are softer with Oil anemically being the exception. Bitcoin is choppy, and Ethereum is a little stronger.
We note that the first 2 quarters under the new CEO have been disappointing for Amazon. Jeff Bezos has good timing right?
Also Note Zuck’s attempt to rebrand Facebook for the younger kids as Meta is bold and his announcement was….a little robotic.
Meta Stupid?
Someone paid over $500 million for an NFT yesterday. For the uninitiated, that is a jpeg with certification via the blockchain it is one of a kind.
CryptoPunks Bot
Punk 9998 bought for 124,457.07 ETH ($532,414,877.01 USD) by 0x9b5a5c from 0x8e3983. https://t.co/dmT6jDRC1W #cryptopunks #ethereum https://t.co/UQlmm1oqkj
This is hard for some people ( us included) to wrap their heads around financially, but we do see a business model in it. it lies at the intersection of the “metaverse”, Facebook’s changed name, and the old fashioned “location, location, location” stuff. We hope to be writing about that this weekend in the premium report. Suffice to say right now, the game is shaping up to be a real estate game like shopping malls were once not too long ago.
Here’s the most recent transaction history in this NFT
UPDATE: The buyer and the seller were likely the same person
GoldFix Podcast
Going off on poor explanations of market behavior- profanity
Technical Excerpt via MoorAnalytics.com
Bitcoin Brief
Trade discussion, Bitcoin spoof behavior
Guidance
Treasury Secretary Janet Yellen this morning said that she would still say inflation in transitory and that energy prices will moderate in the coming months. It seems that markets may no longer be on the same page as Yellen and other policy makers who insist accelerating price rises will only be temporary.There is an update on the Federal Reserve’s favored inflation gauge, the PCE Deflator, at 8:30 a.m. Eastern Time.
Also: Chicago PMI is at 9:45 a.m. and the latest University of Michigan Consumer Sentiment data is at 10:00 a.m. The Baker Hughes rig count is at 1:00 p.m. and Colombia’s central is expected to raise rates by 25 basis points at 2:00 p.m. AbbVie Inc., Colgate-Palmolive Co. and Aon Plc are also reporting results today- .Bloomberg
Complete Watchlist HERE
Zen Moment
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