Why JPEGs are selling for $1M+
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Vibe Check
🖼️ NFT FOMO got me in my feelings
🤝 Amazon and Affirm partner up (it’s a trap!!)
⏪ OnlyFans hit us with the uno reverse card
This JPEG of a rock sold for $1.3 Million
What Happened: NFT hype has taken over the internet. NFTs are selling for MILLIONS of dollars, some have 10x - 50x in value in less than a month. The above rock sold for $1.3 Mil, and some kid made $400k in like 2 months.
My Take: The internet has LOST IT’S FUCKING MIND. And yes, I’m only saying this because I missed out on making a bag with NFTs. I’m a huge fan of crypto but I’m still constantly flipping between “ok I kinda understand why NFTs are cool” and “why the FUCK would someone drop 10x my entire net worth on a JPEG of a penguin or rock that looks like dog-shit.” I fully realize I’m being a hater. Apologies for the rant.
But real talk, I actually think NFTs are pretty cool, especially the ones with utility (I’m still learning). But I’m just struggling to understand the hype for NFT art. Maybe I’m just salty that teenagers are becoming millionaires and I didn’t get any action. I might need to YOLO into an NFT to really understand it.
Should I make my own NFT?
Learn More: What Are NFTs
Amazon and Affirm link up (Definitely a trap)
What Happened: Amazon and Affirm are forming a partnership. Affirm is a company that allows users to “buy now, pay later” (BNPL) by breaking up big purchases into small monthly payments. And now, (some) Amazon customers have access to these services for purchases of more than $50.
My Take: I’m kinda surprised Amazon didn’t come out with our own BNPL services and instead chose to partner with Affirm. My prediction is that Amazon is going to fuck over Affirm. If the data shows that BNPL is successful on Amazon, they will end it with Affirm and make their own service. Amazon has done this in the past.
But for now, Affirm shareholders are ready to party. The stock was up more than 30% after the news was announced (stock still down from highs of $140ish in February). This might be a short-lived rager.
OnlyFans “Bring Back the Naughty Stuff”
What Happened: OnlyFans decided to reverse their decision to ban “sexually explicit content.” OnlyFans threw the banks under the bus blaming them for the ban. The CEO literally NAME DROPPED them in an interview (BNY Mellon, Metro Bank and JPMorgan). These banks didn't want to do business with OnlyFans and refused to wire money from the OnlyFans bank account to the creators’ bank account.
My Take: OnlyFans’s initial ban MADE NO SENSE. Why would they self implode their INSANELY profitable business? But this makes a lot more sense now. After some public shaming, I guess these banks decided to continue working with OnlyFans. Banks deal with shady shit all the time, but all of sudden they don’t want to deal with a website that shows naughty content? Come on man.
Btw, I did a TikTok about this.
Rich Guy of the Week: Tim Cook
Congrats to Timmy Cook for 10 years as Apple’s CEO. And because Apple added like $2 TRILLION to its market cap in the time Tim’s been CEO, he got a $750 Million dollar bonus. Technically he was awarded 5 Million of Apple stock, which he sold for $750M.
Now he can afford an NFT. Good for you Tim 👍🏼
In Case You Missed It: I GOT VERIFIED ON TIKTOK
It FINALLY happened. TikTok has blessed me with the blue checkmark. I’ve been making TikTok for nearly 2 years now (started in Nov 2019). Feels good to cross this milestone. Now if only IG can hook me up…
Here is the link to my latest TikTok / YT Shorts. I skit about OnlyFans reversing their bank on sexually explicit content.
Thanks for reading my newsletter! If this didn’t suck, maybe share it (or at least DM me on Instagram to let me know). If this did suck, I’m sorry for wasting your time. Just go back to watching me on TikTok and YouTube and pretend this didn’t happen.
Why JPEGs are selling for $1M+
I like the addition of hyperlinks in this newsletter. Very beneficial, thank you Zaid!