The Pellucid Perspective - January 2022 - 7

The current valuation of cryptocurrencies is
almost $3 Trillion; but that is only the tip of
the iceberg for the future of the Blockchain
technology underneath it. NFTs are simply
one manifestation of how it can be used.
In his 2018 book " Life Beyond Google, "
famous futurist George Gilder outlined
how Blockchain will alter the technology
landscape. It will impact the way we live
our lives and will ultimately influence the
way you run your golf courses and relate
to your customers. And it is going to happen
faster than we think - Gamestop just
announced a foray into NFT based video
gaming (WSJ, January 7, 2022). It's only a
matter of time before you can play a match
on a golf course of your choosing against a
Tiger Woods avatar.
Trying to understand the value of NFTs
and the cryptos used to purchase them
is hard, at least for me. But wait, I have a
framed share of Green Bay Packers stock
on my wall. The stock pays no dividends, cannot be transferred
and if the team is sold (latest estimated value $1.5 Billion+) the
proceeds go to the Green Bay Packers Foundation, a non-profit
Trying to understand
the value of NFTs and
the cryptos used to
purchase them is hard,
at least for me.
charitable organization. Until 1997, the
beneficiary was a local VFW Post for goodness
sake. The only non-fungible value is
being able to say I am an NFL Team owner
and knowing that my purchase helped pay
part of Brett Favre's salary. When we were
able to buy my youngest daughter a share in
the 2011 offering, she joined the rest of the
family and helped pay Aaron Rodgers' salary.
The most recent offering late last year
has raised $61 Million more - no doubt to
help further compensate Mr. Rodgers in
what will be an interesting re-negotiation.
Maybe one of the creators of the NFT concept
used the Packers as a model for people
who are willing to buy stuff that is more
about bragging rights than actual value.
After all, Rodgers may need new money
- he is one of 5 NFL players to get part
of his salary in crypto (ESPN, November
21, 2021). The first was Russell Okung
who got the Carolina Panthers to pay half
of his $13 Million salary in Bitcoin in December, 2020. To give
you an idea of the volatile and speculative nature of crypto, the
$6.5M paid to Okung is now worth almost $10M - even afPartner
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7
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The Pellucid Perspective - January 2022

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