Blending tradition with innovation to meet evolving customer needs
Ric Edelman: It's Tuesday, June 6th. Hey, yesterday I told you how Mastercard is using crypto to make its transactions safer. Now Venmo is letting its customers transfer crypto to friends and family. They do it with just a few simple steps. You open the app, you tap the transfer arrows, and then you hit send. With Venmo, you can now send your crypto to another person's Venmo account. You can send it to a PayPal account. You can even send it to an external crypto wallet, meaning you can use Venmo to send crypto to anybody, anywhere.
And Sotheby's is now engaging with crypto as well. The big auction house is now selling NFTs Non-fungible tokens and a Metaverse platform. You can buy NFTs from Sotheby's via an auction just like you buy any other piece of art from them. You can also sell your own NFTs to other people. In secondary sales, everything is facilitated entirely through smart contracts. It's all automated. No humans are involved. You pay for the art and collectibles using Ethereum or the Polygon token called Matic. And Sotheby's Virtual Art House is offering a rotating selection of leading artists that it curates.
So you've got one of the biggest art houses in the world choosing some of the most prominent artists who are creating digital art, and it's curating their artwork the way it would the masters from the Renaissance. And it's changing up the selection of artists every few months. Right now they've got NFTs from 13 artists in their virtual site.
Think about this. Sotheby's was established in 1744. They aren't going to rest on their laurels. They say they're committed to using the latest technology to serve art collectors. This is how a company that's over 300 years old gets to be around to be 400 years old.
Ask yourself, are you staying as current as Sotheby's is?
Hey, if you're a financial advisor or an accredited investor and you want to get a deep dive into the world of crypto, come to VISION. It's the longest running Digital Assets Investment Conference specifically for financial advisors and accredited investors. You'll get the cutting-edge educational content and actionable ideas from leading investors and industry thought leaders. This event is June 12 to 14in Austin. Our keynote speakers include Downtown Josh Brown from CNBC. Patrick McHenry, who's the chair of the House Financial Services Committee, and Dave Hirsch, who heads crypto enforcement for the SEC. We're also going to teach you how to mint your own NFTs. A ton of fun, lots of great knowledge and wonderful networking. Check out the details at DACFPvision.com.