Real Estate Investments

Real estate has been a popular investment option for many years. It is a tangible asset that has the potential to appreciate in value over time. There are various ways to invest in real estate, including rental properties, flipping properties, and real estate investment trusts (REITs).

Rental properties can provide a steady stream of rental income and the potential for long-term appreciation in property value. Flipping properties involves buying a property, renovating it, and selling it for a profit. REITs are companies that own and manage income-producing real estate properties. They offer investors the opportunity to invest in real estate without having to buy, manage, or finance properties themselves.

If you are a Kenyan, one of the REITs you could try is Vuka, a REIT created by Acorn Investments and Approved by The Capital Markets Authority. It allows you to invest for as low as 250/=. Try it today: Vuka Investment Club

Stocks

Investing in stocks is another popular way to grow your wealth. Stocks represent ownership in a company and offer investors the potential for long-term capital appreciation and dividends. There are various ways to invest in stocks, including individual stocks, mutual funds, and exchange-traded funds (ETFs).

Individual stocks can provide higher returns but also carry higher risk. Mutual funds and ETFs offer diversification, which can help to lower risk. They are also professionally managed, which can be an advantage for investors who don’t have the time or expertise to manage their own portfolios.

Cryptocurrencies

Cryptocurrencies have gained popularity in recent years as an alternative investment option. Cryptocurrencies are decentralized digital assets that use encryption techniques to secure transactions and control the creation of new units. They offer investors the potential for high returns but also come with high volatility and risk.

Bitcoin, Ethereum, and Litecoin are some of the most popular cryptocurrencies. Investors can buy and hold cryptocurrencies as long-term investments or trade them actively to try and take advantage of short-term price movements.

Peer-to-Peer Lending

Peer-to-peer lending, also known as P2P lending, is a way for investors to lend money to individuals or businesses through an online platform. P2P lending offers investors the potential for high returns but also carries the risk of borrower default.

Investors can choose which loans to invest in based on the borrower’s credit score, loan purpose, and other criteria. P2P lending platforms charge a fee for connecting borrowers with investors and managing the loan process.

Conclusion

In conclusion, there are various potential medium to high returns investment options available to investors. Real estate investments, stocks, cryptocurrencies, and P2P lending are just a few of the options available. Each investment option carries its own risks and potential rewards, and investors should carefully consider their investment objectives, risk tolerance, and time horizon before investing.

It’s important to note that investing always involves risk and there are no guarantees of returns. Therefore, investors should always do their due diligence and seek professional advice before investing. With careful planning and informed decision-making, investors can potentially grow their wealth over time through a diversified investment portfolio.

Artificial Intelligence:

• Alphabet Inc. (Google)
• Microsoft Corp.
• NVIDIA Corp.
• Intel Corp.

AI technology is revolutionizing numerous industries including healthcare, finance, and transportation by improving efficiency, accuracy and productivity.

E-Commerce:

• Amazon.com Inc.
• Alibaba Group Holding Ltd.
• Shopify Inc.
• JD.com Inc.

E-commerce has disrupted the traditional brick-and-mortar retail industry by providing convenient and accessible online shopping experiences, transforming the way people purchase goods and services.

Clean Energy:

• Tesla Inc.
• NextEra Energy Inc.
• Brookfield Renewable Partners L.P.
• First Solar Inc.

Clean energy is disrupting the traditional fossil fuel-based energy industry by promoting sustainable energy sources such as solar and wind power, reducing dependence on non-renewable resources, and mitigating environmental impact.

Cryptocurrency:

• Bitcoin Investment Trust (GBTC)
• Ethereum (ETH)
• Binance Coin (BNB)
• Ripple (XRP)

Cryptocurrency is disrupting traditional finance by offering decentralized, secure, and transparent financial transactions without the need for intermediaries such as banks.

Automation:

• ABB Ltd.
• Siemens AG
• Rockwell Automation Inc.
• Fanuc Corp.

Automation is disrupting various industries including manufacturing, logistics, and healthcare by automating tasks and processes, increasing efficiency, and reducing the need for manual labor.

Virtual Reality:

• Facebook Inc. (Oculus VR)
• NVIDIA Corp.
• HTC Corp.
• Unity Technologies

Virtual Reality (VR) is disrupting the entertainment and gaming industries by providing immersive and interactive experiences. It also has potential applications in fields such as education, training, and healthcare.

Biotechnology:

• Moderna Inc.
• Amgen Inc.
• Gilead Sciences Inc.
• Biogen Inc.

Biotechnology is disrupting the healthcare industry by developing innovative treatments, therapies, and technologies based on the understanding of biological systems and processes.

Drones:

• DJI Technology Co. Ltd.
• AeroVironment Inc.
• Lockheed Martin Corp.
• Parrot SA

Drones are disrupting various industries including agriculture, delivery, and surveying by providing cost-effective, efficient, and innovative solutions for tasks that were previously performed by humans.

Internet of Things (IoT):

• Cisco Systems Inc.
• International Business Machines (IBM) Corp.
• Intel Corp.
• Alphabet Inc. (Google)

IoT is disrupting various industries including manufacturing, transportation, and healthcare by connecting and automating devices, enabling real-time data collection and analysis.

5G Technology:

• Qualcomm Inc.
• Ericsson AB
• Nokia Oyj
• Huawei Technologies Co. Ltd.

5G technology is disrupting the telecommunications industry by providing faster, more reliable, and more secure wireless communication, enabling the development of new and innovative products and services.

Blockchain:

• Square Inc. (Cash App)
• Ripple Labs Inc.
• Chain Inc.
• Coinbase Global Inc.

Blockchain is disrupting various industries including finance, supply chain management, and real estate by providing secure and transparent record-keeping, reducing the need for intermediaries, and increasing efficiency.

Cybersecurity:

• CrowdStrike Holdings Inc.
• Palo Alto Networks Inc.
• FireEye Inc.
• Symantec Corp.

Cybersecurity is disrupting various industries including finance, healthcare, and government by providing innovative solutions to protect against cyber-attacks, data breaches, and cyber threats.

Renewable Energy Storage:

• Tesla Inc. (Powerwall)
• LG Chem Ltd.
• Enphase Energy Inc.
• Sunrun Inc.

Renewable Energy Storage is disrupting the energy industry by enabling the efficient storage and distribution of renewable energy, reducing dependence on traditional fossil fuels, and improving energy security.

Space Technology:

• SpaceX
• Blue Origin LLC
• Virgin Galactic Holdings Inc.
• Maxar Technologies Inc.

Space Technology is disrupting various industries including telecommunications, earth observation, and space exploration by providing cost-effective and innovative solutions for accessing and utilizing space-based resources and capabilities.

Robotic Process Automation (RPA):

• UiPath Inc.
• Automation Anywhere Inc.
• Blue Prism Group PLC
• WorkFusion Inc.

Robotic Process Automation (RPA) is disrupting various industries including finance, healthcare, and customer service by automating repetitive and manual tasks, reducing errors, and improving productivity.

Quantum Computing:

• IBM Corp.
• D-Wave Systems Inc.
• Google (Alphabet Inc.)
• Rigetti Computing

Disruptive Industry: healthcare, and cryptography by providing exponential computing power and enabling the solution of complex problems that are beyond the capabilities of classical computers.

Electric Vehicles:

• Tesla Inc.
• General Motors Co.
• Nissan Motor Co. Ltd.
• Volkswagen AG

Electric Vehicles (EVs) are disrupting the automotive industry by providing cost-effective, efficient, and environmentally friendly alternatives to traditional internal combustion engine vehicles.

Smart Home Technology:

• Amazon.com Inc. (Ring)
• Alphabet Inc. (Google Nest)
• Samsung Electronics Co. Ltd.
• Control4 Corp.

Smart Home Technology is disrupting the home automation industry by enabling the integration and control of home appliances and systems through a centralized platform, improving comfort, convenience, and security.

Advanced Manufacturing:

• GE Additive (General Electric)
• 3D Systems Corp.
• Stratasys Ltd.
• Materialise NV

Advanced Manufacturing is disrupting the manufacturing industry by providing new and innovative ways of designing, producing, and delivering products through the use of digital technologies such as 3D printing and computer-aided design.

What is blockchain?

A blockchain is a growing list of records, called blocks, that are linked together using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree). The timestamp proves that the transaction data existed when the block was published in order to get into its hash. As blocks each contain information about the block previous to it, they form a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks.

Learn more

What is a cryptocurrency?

A cryptocurrency is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptocurrencies don’t have a central issuing or regulating authority, instead, they use a decentralized system to record transactions and issue new units.

Here is how you can buy your first cryptocurrency

What Are Crypto Tokens?

The term token refers to a special virtual currency token or how cryptocurrencies are denominated. These tokens represent fungible and tradable assets or utilities that reside on their own blockchains. Crypto tokens are often used to fundraise for crowd sales, but they can also serve as a substitute for other things. These tokens are usually created, distributed, sold, and circulated through the standard initial coin offering (ICO) process, which involves a crowdfunding exercise to fund project development.

What is a smart contract?

A smart contract is a computer program or a transaction protocol that is intended to automatically execute, control, or document legally relevant events and actions according to the terms of a contract or an agreement. The objectives of smart contracts are the reduction of the need for trusted intermediates, arbitrations, and enforcement costs, fraud losses, as well as the reduction of malicious and accidental exceptions.

Learn more.

What is an NFT?

A non-fungible token (NFT) is a unique and non-interchangeable unit of data stored on a digital ledger (blockchain). NFTs can be associated with reproducible digital files such as photos, videos, and audio. NFTs use a digital ledger to provide a public certificate of authenticity or proof of ownership, but it does not restrict the sharing or copying of the underlying digital file. The lack of interchangeability (fungibility) distinguishes NFTs from blockchain cryptocurrencies, such as Bitcoin.

Learn more.

What is Web 3?

Web3, also known as Web 3.0, is an idea for a new iteration of the Internet that is based on public blockchains. The term was coined in 2014 by Ethereum co-founder Gavin Wood, and the idea gained interest in 2020 and 2021 from cryptocurrency enthusiasts, large technology companies, and venture capitalist firms.

Learn more.

What is DeFi?

Decentralized finance (commonly referred to as DeFi) is a blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains, the most common being Ethereum.[citation needed] DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts. DeFi uses a layered architecture and highly composable building blocks.

Learn more.

What is GameFi?

GameFi also known as Game Finance, is the gamification of financial systems to create profit from playing play-to-earn crypto games.

Learn more.

What is DeIn?

Decentralized Insurance also known as DeIn or DeFi Insurance is where rather than purchasing insurance coverage from one specific individual or company, you can purchase coverage from a decentralized pool of insurance providers. Interestingly, any individual or company can work as an insurance provider by locking up capital in the decentralized capital pool. The individual or company providing capital to the pool can qualify as a liquidity provider.

Learn more.

Conclusion

I am a follower of the above simply because of how much disruption of traditional methods blockchain can create. In one way or the other blockchain technology is the future of processing. Currently, as of writing this post, there are Decentralized Supply Chain Management, Decentralized Full Proof Voting, Decentralized Real Estate, Decentralized Data Protection, and Decentralized Loyalty + Royalty Programs.

Learn more here: The Importance and Benefits of Blockchain Technology

Blockchain increases trust, security, transparency, and the traceability of data shared across a business network — and delivers cost savings with new efficiencies. Blockchain for business uses a shared and immutable ledger that can only be accessed by members with permission.

This article answers these questions, with the goal of educating users about one of the most important aspects of Web3 access infrastructure.

Wallets or keychains?

In the context of blockchain and Web3, a “wallet” is essentially a cryptographic key management system that doubles as a user interface allowing you to interact with network applications and services by reading and/or modifying the state of the blockchain. It is in this sense, therefore, that we will use the term “wallet” from now on.

Although the use of the term is already widespread, it is somewhat misleading, and it is worth dispelling a common misunderstanding right away. Contrary to popular belief, when you make a transaction on the blockchain you are not “sending” tokens from your wallet to someone else’s wallet. In fact, you are using your private key to sign a transaction and transmit it to the entire blockchain network. Only after the network validates your transaction will it be executed, and then this change will be reflected in the updated balances of your address and the recipient’s address.

In this sense, the term “wallet” is misleading because the applications we use to interact with the blockchain do not store money the way physical wallets do. Instead, they store the private keys that allow you to sign and make transactions, and the public keys that allow you to receive assets. A more apt analogy would be to a keychain, with the important difference that in the case of the blockchain this “keychain” not only manages the keys needed to interact with the network but also shows the record of transactions and the balances of the addresses associated with these keys.

But what exactly are the “keys” that digital wallets manage, and what are they used for?

Keys and seed phrases

A “key”, in the sense in which the term is used in cryptography, is the basis of a transformation, usually mathematical, of an ordinary message into an unreadable (encrypted) message.

In public-key cryptography, which is the standard used to implement blockchains, a pair of correlated keys are created for this purpose: the first is called private because it must be kept secret; the second is called public because it can be shared with anyone who wants to receive it. Any participant that has access to your public key can encrypt a message using that key, but only you can read it, using your private key. In addition, you can use your private key to “digitally sign” a message, allowing others to verify that you were the sender; this verification is also done using your public key.

Public-key cryptography — Source: Network Encyclopedia

A wallet stores and allows you to manage this key pair to interact with a blockchain.

• A public key refers to an address that allows you to send and receive transactions.
• A private key proves that you own the assets associated with your address.

You can think of your public key as analogous to your bank account number, and of your private key as analogous to the password you use to access your account and make transactions. As with banking, your public key can be shared with anyone to receive funds, but your private key, like your password, must be kept secret.

Public & Private Keys — Source: Crypto.com

Most modern wallet implementations use a single master key, also known as a seed phrase, to generate the public and private keys. This key generation system is called deterministic because in it the public and private keys are correlated and can always be reproduced from the same seed.

Seed phrases are represented as a list of English words (usually 12, sometimes 24) that you can write down and keep somewhere, and can reuse to retrieve your wallet if for some reason you lose access to it (say, by having a device stolen or damaged).

Example of seed phrases — source: Realt Academy

There are a set of industry standards for wallet implementations that ensure interoperability between different applications. Thanks to these standards, you can easily export and import your keys between wallets from different vendors.

More than keychains — wallets as Web3 identities

The keychain analogy helps, but it doesn’t catch all the functions of wallets. In a blockchain, nodes are constantly synchronizing the state of the network and updating the history of transactions made. As we saw above, wallets connect you to the blockchain nodes and allow you to read this history and also make transactions, registering new data in the network. In this sense, we can also say that wallets work analogously to a traditional web browser, serving as a gateway to access and interact with Web1 / Web2. Wallets, in turn, are your gateway to Web3. But they go further, and can also serve as your identity in this new environment.

In Web3, identity and reputation work very differently from what we are used to today. As a rule, in Web2 our identities are tied to some centralized provider, which almost always requires users to hand over confidential and personal information. Examples of such identities are your Google account, Facebook, Twitter, etc.

Web2 Login — Source: Dev.to

In Web3, you simply link your wallet to a decentralized application (dApp) to be able to interact with it. And unlike Web2 authentication methods, wallet addresses are pseudonymous by default. If a user chooses to connect the same wallet with multiple dApps, her (pseudonymous) identity can be easily transferable between those dApps, which means that over time the user can build up a sort of portable reputation, even without having to reveal her personal information.

Web3 Login — Source: Coinbase

As more and more aspects of our lives come to be experienced on Web3 — communication, work, education, entertainment, finance, and so on — all “orchestrated with tokens” (see Dixon and McCormick’s definition of Web3), our very identities will become more and more intertwined with the content of our wallets. For this reason, having a portable, privacy-preserving, and secure digital identity will become of paramount importance in this emerging future.

(I delve deeper into issues involving risks to our identities in Web3 and in the Metaverse in this article.)

Types of wallets

Types of Wallets — Source: Odyssey DAO

The first important distinction for categorizing wallets concerns whether or not they are connected to the Internet. So-called “hot wallets” are connected to the Internet, while so-called “cold wallets” are kept offline.

Hot wallets

In hot wallets, the user’s keys are stored and encrypted in the application itself, which is kept online. Examples of hot wallets include:

• Web-based wallets (websites or browser extensions)
• Wallets for mobile devices (Android or iOS applications)
• Desktop Wallets (applications installed on your OS)

Using a hot wallet, in its different forms, is generally quite convenient, but along with convenience also comes more risk, since computer networks tend to have hidden vulnerabilities that can be targeted by hackers or malware programs, among other forms of a system intrusion.

Hot wallets can be subdivided into two further categories, having to do with the way the keys are controlled in each case.

Custodial hot wallets

These are wallets managed by an exchange (for example, by Binance, Coinbase, Crypto.com, etc.), and require you to log in with a username and password to access them, just as you would do to access any traditional web application.

With a custodial wallet, you do not own your keys and therefore are not in full control of the assets they manage. As a popular saying in the crypto community goes, “not your keys, not your coins!”

Because of this, when using custodial wallets you must trust the service provider to securely store your assets and implement strong security measures to prevent unauthorized access. These measures include two-factor authentication (2FA), email confirmation, and biometric authentication, among others. Many exchanges will not allow you to transact until these security measures are properly configured by you.

Non-custodial hot wallets

These are self-managed wallets. The keys and assets these applications manage are fully under the control of the users. But since with great power comes great responsibility, this means that users of non-custodial wallets must take care of their own security regarding key and seed phrase storage. If any of these are lost, recovery may be difficult or even impossible, since they are not usually stored on any third-party server.

Cold wallets

Cold wallets are, by default, offline. This makes them less convenient than hot wallets, but as a rule, also makes them more secure.

Examples of cold wallets include:

• Paper wallets: as the name implies, a paper wallet is a physical location where private keys and/or seed phrases are written or printed. Since hackers cannot access these records remotely, this method is generally more secure than using a hot wallet connected to the internet. On the other hand, it opens up the potential risk that the piece of paper will be destroyed or lost, which could result in unrecoverable funds.
• Stainless steel wallets: To avoid the risk of destroying a paper wallet in case of fire or flooding, you can also engrave your private keys on a stainless steel plate. Some manufacturers even offer ready-made kits for this type of wallet.
• Hardware wallets: A hardware wallet is an external, dedicated device (usually a USB or Bluetooth device) that stores your keys. You can only sign a transaction by pressing a physical button on the device, which malicious actors cannot control.

Wallets with multiple signatures (multisig)

Also known as “multisig”, these are wallets that require two or more private key signatures to authorize transactions. This solution is useful for a number of use cases:

• An individual using a multisig wallet can avoid losing total access to the wallet in a scenario where one key is lost because then there will still be other keys able to sign transactions.
• Multisig wallets can make misuse of funds and fraud more difficult, which makes them a good option for hedge funds, exchanges, and corporations. Since each authorized person will have a key, and a transaction requires the use of most keys, it becomes impossible for any one individual to unilaterally perform unauthorized transactions.

(All the wallet types described above have multisig versions — hot, cold, hardware, and so on.)

How to secure your wallet

If your wallet’s private key or seed phrase gets lost or stolen, you not only risk losing access to your assets but, given what was said before, an integral part of your identity on Web3 will be jeopardized. Therefore, it is crucial that you learn how to secure your wallet to avoid fraud and identity theft.

Here are some tips to ensure the security of your wallet:

1. Store your private keys and your seed phrases in a safe place. Consider copying them to paper or stainless steel and storing them very well, or, if you prefer to have online access, use a password manager (such as 1Password or LastPass).
2. Never share your private keys or seed phrases with anyone. No matter who asks — just don’t share!
3. Protect your password. If your wallet has a separate password, anyone who obtains it can obtain your private key. So choose a secure password, preferably saving it in a password manager, and using 2FA.
4. Don’t leave valuable assets in your everyday hot wallet. Instead, put those assets in a cold wallet or in a separate hot wallet with reinforced security. If you have a lot of assets in your wallet and share your address publicly, sooner or later someone will try to pull a scam using this information and some social engineering techniques.
5. Carefully check any website URL, email address, or social network profile before taking any action involving your wallet. Scammers usually pose as a trusted platform to phish your seed phrase or private key.
6. Turn off private messaging in apps like Discord and Telegram, and never interact with unknown assets (such as NFTs) that appear “out of nowhere” in your wallet. These are two common attack vectors that scammers use.

In addition to these general tips, here are some suggestions of best practices for using cold wallets specifically:

1. Your seed phrase is more important than the device itself. If your cold wallet is damaged, you can always recover your assets by importing your seed phrase into another wallet. Therefore, prioritize the safety of the seed phrase as indicated above.
2. Do not use the seed phrase from a hot wallet in your cold wallet. The purpose of the cold wallet is to store a seed phrase offline. Reusing a hot wallet seed phrase in the cold wallet means bringing back all the problems of online storage.
3. Be very wary of cold wallet phishing attempts. Buy a cold wallet only from the official websites of the manufacturers (such as Ledger and Trezor). Do not respond to “support” emails, letters, or private messages asking for your seed phrase.

Common frauds involving wallets, and tips to avoid them

One of the main goals of scammers regarding the Web3 space is to trick you into sharing your private key or your seed phrase. Here is a list of common scams for this purpose, and tips for avoiding them.

Phishing attacks by fake customer support accounts

Scammers send a message via email, social network, SMS, etc., informing you that there has been some kind of problem with your wallet — for example, “Your Metamask account has been hacked.” The criminals then try to convince you to share your private key or your seed phrase, supposedly to verify that you really own the “hacked” account. If this happens:

• Carefully check the website URL, email address, social profile, or phone number from which the message originated.
• Even if the source seems reliable, remember: no reputable platform will ask for your private key or seed phrase!

MetaMask’s Fake Support Attack — Source: Odyssey DAO

Trust Wallet Fake Support Attack — Source: Rainbow

Airdrops of fake tokens and NFTs

Since wallet addresses are public, literally anyone can send tokens or NFTs to these addresses. This is usually not a big problem, because you can simply choose to ignore them; but some cybercriminals have developed ways to send tokens that can execute transactions on your account as soon as you interact with them. In this sense, one could compare these tokens to a trojan that allows hackers to access your computer as soon as you interact with a malicious file. A more detailed analysis of this type of scam, including an explanatory video, can be found here.

As a precaution, be very careful with “freebies” and “gifts”, usually offered by fake profiles on social networks or by private instant messages on Discord servers or in Telegram groups. Never interact with a token of unknown origin in your wallet!

Blind-signing

Another recent and still little-known type of attack used to steal digital assets from wallets is blind signing. This attack takes advantage of the fact that users who employ their wallets to interact with dApps and NFTs often do not review the code of the smart contracts underlying these applications and therefore may end up signing and authorizing transactions without knowing exactly what they are signing and authorizing.

For example, it is sometimes necessary to grant a third party — say, cryptocurrency exchange or an NFT marketplace — permission to conduct transactions involving tokens within your wallet. Once third-party access is approved, users can exchange tokens or list NFTs for sale without paying additional fees each time. The attackers have found ways to trick victims into giving them third-party approval over the contents of their wallets, which can be transferred to other addresses controlled by the criminals.

Fake hardware wallets

One very ingenious scam involves sending some sort of correspondence — it can be an email or even a physical letter in the mail, “signed” by a CEO of a hardware wallet manufacturer — that tries to convince the user that their wallet has suffered some sort of attack and needs to be replaced. Sometimes a new device is even sent along with the letter. But these new devices have been hacked to provide access to the fraudsters, who then clone the wallet using the previously created seed phrase to gain access to the user’s funds.

If something like this happens, simply throw these devices in the trash and inform the manufacturer of the attempt.

A fake letter signed by “Ledger CEO” — Source: Ledger

Speaking of Web3 Identities, Unstoppable Domains is on a mission to create the best web3 domains and identities on the planet. Their domains fix a lot of issues such as long complex crypto addresses, sign-in with your web3 ID, and more. My Web3 Domain is stephenajulu.crypto. Get your own now at a discounted price. Free minting and no renewal fees: Unstoppable Domains

Blockchain.com Premium Domains

Sources and Further Reading

• Wallets as web3 identities By Jônadas Techio — Blockchain Solutions Architect & Web3 Evangelist @ Axur(Medium)
• What is a Crypto Wallet? A Beginner’s Guide (Crypto.com)
• What is a crypto wallet? | Coinbase
• Public Key Cryptography — Network Encyclopedia
• Seed Phrase 101 (Realt Academy)
• How to use a hot wallet? (Odyssey DAO)
• The Anatomy of MetaMask. An X-ray of Web3’s Beloved Fox | by Julia Wu | Jun, 2022
• How to use a cold wallet? (Odyssey DAO)
• What is a Hardware Wallet and How Does it Work? (Crypto.com)
• How to avoid crypto scams (Rainbow)
• How to avoid wallet scams? (Odyssey DAO)
• Digital Risks in Blockchain and Web3 (Axur — Free Ebook)
• Digital risks in the Metaverse (Medium)

2. Coinbase: for Cryptocurrencies and NFTs

3. Hisa: for US Stocks and ETFs

4. G-Kuze: for Kenyan Stocks

5. FXPesa: for Forex

6. Vuka: for Real Estate Investment Trust

7. Gemini: For Cryptocurrencies

We should all remove our coins, tokens, and crypto from exchanges and into secure wallets where only the user has the private key and can access the wallet.

Here are some great wallets for holding your crypto:

1. Coinbase Wallet
2. Metamask
3. Exodus
4. Trust Wallet
5. Ledger Nano X(Hardware/Cold)
6. Trezor Model T(Hardware/Cold)
7. Ledger Nano S(Hardware/Cold)

Photo by olieman.eth on Unsplash

1. Verasity

2. Green Life Energy

3. Veechain

4. Decentraland

5. Ethereum

To buy any of these cryptocurrencies I suggest you use Binance.

Binance is a cryptocurrency exchange that is currently the largest exchange in the world in terms of the daily trading volume of cryptocurrencies.

Register by visiting this link: Binance

Photo by Ferhat Deniz Fors on Unsplash

NFT Generator

1. Bitcoin
2. Solana
3. Luna
4. Green Metaverse Token
5. Synthetix
6. Alpine
7. Lazio
8. Kusama
9. Apecoin
10. Ethereum
11. Filecoin
12. Veechain
13. Keep3r
14. Polygon
15. Green Life Energy
16. Basic Attention Token
17. Monero
18. Mines of Dalarnia
19. Project Galaxy
20. Decentraland
21. Verasity

NOT FINANCIAL ADVICE

Part 2 + short term coins coming soon.

To buy any of these cryptocurrencies I suggest you use Binance.

Binance is a cryptocurrency exchange that is currently the largest exchange in the world in terms of the daily trading volume of cryptocurrencies.

Register by visiting this link: Binance

Photo by Quantitatives on Unsplash

Let’s start with the name. NFT stands for non-fungible token. Don’t worry; it’s not as complicated as it sounds. ‘Fungible’ means that something can be traded, like physical currency or cryptocurrencies. So, a non-fungible token means that this particular token can’t be traded for another one. Why? Because NFTs are digital representations of assets, and those assets can be nearly anything. An NFT isn’t a currency; it’s basically a certification of authenticity for a digital asset. Frequently, these assets are collectibles, like sports memorabilia, but they’re digital.

You might be asking why anyone would bother flipping NFTs or paying for something like this, and it’s a good question. Digital art is one of the best examples to explain this. If we think about physical art and how much people value it (think of a painting from a renowned artist like Monet selling at a world-class auction house for tens or hundreds of millions of dollars), the actual value lies in having the original. Anyone can go online and look at a digital representation of a Monet painting, but only one person in the world will be the owner of that piece. Scarcity creates demand, and NFTs allow for scarcity to be created around digital items.

Next, let’s talk about how NFTs are created and why they’re secure. If you’re familiar at all with how cryptocurrency works, then you’re well on your way to understanding how NFTs are created. NFTs use the same blockchain algorithm that cryptocurrencies like Ethereum use. This allows the NFT creator to build in unique information to each NFT, making everyone unique and distinguishable from all other NFTs. This also means that you can easily transfer ownership, and NFTs can be added together to create an entirely new NFT with its own identifiers.

Where Do NFTs Get Bought Or Sold?

Non-Fungible Token (Non-fungible Token) – NFT – Digital Art Stored on Digital Ledger (Blockchain) – Conceptual Illustration

There are a few main places for buying and selling non-fungible tokens, but more and more are popping up as this trend grows.

Rarible – This peer-to-peer platform is great for perusing collectibles and getting your feet wet in the NFT world.

OpenSea.io – Similar to Rarible, OpenSea is an established peer-to-peer NFT platform that connects artists and sellers directly with buyers.

Foundation – Foundation is a different setup than Rarible and OpenSea in that there is a cost for artists to put their work on Foundation, and they must also be endorsed by a current artist to be approved. This promotes legitimacy and high-quality work but can also mean a higher price point for buyers.

All of the platforms mentioned here require you to purchase NFTs with cryptocurrency. Not all platforms accept all forms of crypto, so you’ll have to make sure you have a digital wallet and the approved form of crypto to purchase NFTs on these platforms.

Why Are NFTs So Talked About Right Now?

More and more of our daily lives are moving online, including how we perceive value. Remember way back when, in the days that digital music was first coming out, how inconceivable it seemed then that you would pay money, like real money, never to get a physical copy of your music? Crazy! Why would anyone ever pay for something they’ll never really have, right? Cut to today, where most of us have online libraries of music the size of which we’d never have had the space to store, and it comes with us right in our pockets.

This is the type of pivot point we’re getting to with NFTs. There are an increasing number of things in the digital space that matter enough to us that we want to own them, to know for sure that they’re ours. NFTs allow us to do that in a traceable and verifiable way. It might seem like an odd concept now, but just wait until you come across a digital asset that speaks to the collector in you!

3 Main NFT Categories

Anything digital that can be tokenized can be made into an NFT, but some main categories have been established, and some have, albeit short, track records.

NFT Digital Art

Digital art is one of the most popular ways that NFTs are used. The process of creating a unique token for a piece of artwork allows the artist to verify the authenticity of the piece, thereby creating scarcity around it. On the buyer side, the NFT use of blockchain means that hacking the NFT and creating a fake is much less likely.

Of course, like physical art, there is the opportunity for hackers to “forge” artwork, but it becomes much less likely using blockchain. Similar to art, NFTs can be used to prevent the counterfeit selling of luxury goods, such as rare wines and whiskies. Wine and whiskey NFTs not only ensure the authenticity of these ultra-premium products but also reduces the risk of damage to the product because they must be securely stored when backed by an NFT**.**

NFTs In Real Estate

NFTs in real estate are broken into two categories, entire asset (EA) and fractional ownership (FO). Fractional ownership NFTs are more common because they essentially work as stock in a company. You could purchase an NFT representing a portion of a real estate company, and you would be paid out accordingly based on profits. In this case, an NFT is treated similarly to stock and is intended to be registered with the Securities and Exchange Commission.

Entire asset NFTs are much more complicated because we don’t have the class of ownership in place yet to tokenize an entire property.

Here’s a fun, very 21st-century concept—online real estate. Metaworld platforms like Roblox and Decentraland are virtual worlds that now offer real estate opportunities. Essentially, they work just like physical world real estate. There are a limited number of parcels available in varying locations, and they are bought and sold as NFTs. The future is here.

NFTs In Gaming

Gamers, get ready! Going on quests and winning battles with game characters that are in themselves NFTs can now earn you crypto, which you can exchange for traditional currency. Axie Infinity is a great example of one of these types of games, where characters are NFTs called Axies, and their trainers win more in battles or breed new ones from their existing Axies. These trainers can then sell their Axies to other players.

Another significant way the NFTs show up in gaming is in wearables, like sneakers. Digital artists create 3D sneaker designs that players can wear in games like Fortnite. The train doesn’t stop at shoes, though. Game skins, avatars, and all kinds of in-game options are being created and tokenized.

What About Music NFTs?

NFTs in music are a potentially game-changing swing in the industry for musicians. By tokenizing their work, artists can monetize their songs while at the same time bringing fans on board for the journey of that piece of work. An additional benefit is that an NFT can be created or “minted” with programming that automatically gives the musician a royalty each time the NFT is sold. Given the significant challenge that digital music has presented artists with over the past two decades, tokenizing their work could be a great way to help ensure our favorite musicians are getting paid for their work.

Can I Make Money On NFTs?

Simply put—you can. But, they can also suddenly become worthless with no notice. The value of an NFT is in what someone else is willing to pay for it. Once you’ve purchased one, you can’t simply trade it in for a cryptocurrency, exchange that for real-world money, and be on your way. You have to find someone who sees value in whatever your NFT represents and is willing to purchase it.

Of course, this can be likened to any number of real-world examples. Say you purchase a home, and then a massive overpass is put up right next to it. Your property value won’t be zero, but it will lose value because the perception will be that it’s now less desirable and therefore worth less than it was when you paid for it. Or, to make it even more simple—Beanie Babies, anyone?

The Future Of NFTs

NFTs have only been around for a few years and have only started becoming more mainstream in the recent past, so predicting their future use is murky at best. There are essentially two camps—those that think NFTs will be adopted as commonplace and will revolutionize the way we interact online, and those that believe NFTs will go the course of the Beanie Baby.

The notable difference between something that is purely a collectible, like the classic Beanie Baby example, and NFTs, is that NFTs can be used to verify the ownership and authenticity of an individually created product like art or music. NFTs have more of a function than a traditional collectible, so what happens remains to be seen!

Now that you have the nuts and bolts of what an NFT is, how they are made, and where to find them, you can decide whether this is an experiment that you’ll be trying for yourself or whether you’ll let some more time go by before dipping your toe into the NFT waters.

Article by Pamela Tatam

Source: Porch

1. Bitcoin(BTC): As you know from a previous article, I hold some bitcoin. In 2022 I’ll be buying more with the goal of reaching 3 BTC in my portfolio.
2. Ethereum(ETH): Same as Bitcoin. The goal is to reach 10 ETH
3. Solana(SOL): Named the Ethereum killer. Lots of interesting projects are being developed using its blockchain.
4. Ripple(XRP)
5. Stellar
6. Decentraland(MANA)
7. Enjin Coin(ENJ)
8. The Sandbox(SAND)
9. Star Atlas(ATLAS)
10. Metaverse Index Token(MVI): This is not really a cryptocurrency but definitely worth checking out. It contains all/most of the metaverse tokens.
11. Polkadot(DOT): Has potential
12. Chainlink
13. Polygon(MATIC): A must-buy for me. Amazing projects built and more coming.
14. Pancake Swap(CAKE)
15. Uniswap
16. Illuvium
17. Moonriver
18. Loopring
19. Cardano(ADA): I have some and want more
20. Veechain
21. Shiba Inu(SHIB)
22. Dogecoin(DOGE)

NFT domains are domains that live on a public blockchain and give users complete ownership of their stored data. The main benefits to owning one are simplifying crypto transactions by replacing long complicated wallet addresses with the domain name and easily creating and hosting websites on web3.

What is the Ethereum Naming Service?

Ethereum Name Service is a blockchain protocol for users who want to have their own unique and memorable usernames over Web 3.0. Using the service allows you to nail all of your wallet addresses and decentralized websites to a single unique name. For instance, “alice.ETH.” This makes you more recognizable and easier to find across the decentralized space.

The service also allows you to use your domain name to create a decentralized website or to link an existing domain to your Ethereum (CCC:ETH-USD) wallet.

How to buy an “.ETH” domain?

How to Register Your First “.ETH” Domain

1. Go to https://app.ens.domains
2. Use the search bar to find a domain you want.
3. Tap on your chosen name to see an estimate of how much it will cost.
4. Get a free Ethereum wallet. I recommend Rainbow or MetaMask
5. Buy enough Ethereum using the wallet to cover the cost of your domain (add a little extra just in case)
6. Go back to the ENS domain website, click the menu in the top right and connect your new wallet.
7. Once connected, you’ll be able to click the blue “Request to Register” button on the domain.
8. Open your wallet & confirm the first transaction request. The transaction may take a few minutes, and then you’ll see a 1-minute countdown begin on the ENS site.
9. After the 1-minute countdown is done, you’ll be able to finalize your registration. Click the register button to initiate a transaction in your wallet.
10. Confirm the transaction in your wallet, then wait for it to complete.
11. You now have your very own ENS name! Congratulations!
12. Lastly, go to your account on the ENS website and set your reverse record to the new name you’ve purchased.

You can now use your “.ETH” address to send/receive Ethereum and other crypto assets. In the future, it’ll be used for more things too!

If you’d like to learn more, go check out the previous article here.

First,

What is an NFT/WEB3 Domain?

NFT domains are domains that live on a public blockchain and give users complete ownership of their stored data. The main benefits to owning one are simplifying crypto transactions by replacing long complicated wallet addresses with the domain name and easily creating and hosting websites on web3.

If you haven’t heard yet, NFT domains are the newest kids on the block(chain) and they have the power to change what we know of as the internet today. But before we dive into all that goodness, let’s take a step back to run through what traditional domains are and define NFTs — that way, you can truly understand the superpowers behind NFT domains.

Typically, you interact with a traditional domain when you type the address (like Twitter.com) into your browser. But did you know traditional domains were originally built to do so much more on the internet? Think of functionalities like email and payments. Hard to believe, right?

But as we can see, traditional domains haven’t progressed much beyond displaying websites. This might be because traditional domains have been controlled by centralized servers since the internet was created. This made it much more difficult for developers to innovate on top of that technology.

Luckily for us, the tech that powers NFT domains (a.k.a. blockchains) opens up a whole new realm of possibilities for us on the web!

What is an NFT?

NFT (non-fungible token): a digital certificate of authenticity used to assign and verify ownership of a unique digital or physical asset. Unlike fungible tokens, NFTs are not interchangeable with one another.

How Do They Work?

Great question! NFT domains are essentially a suite of smart contracts, which is a fancy term to describe software written on a public blockchain. This means that instead of one company controlling your data online, the power is transferred back to you as the user. And by being built on blockchains, anyone can look at the data stored there, creating a level of ultimate openness and transparency.

On top of that, there is the benefit of enhanced security — only you hold the power to make updates to your NFT domain, which minimizes worries about servers getting hacked or domains getting stolen.

All that to say, blockchain superpowers give everyone a safer way to surf the internet while also giving control back to you over what gets shared and where it gets shared.

Cool, I’m starting to get the power of blockchain but am still not 100% sure what I can DO with an NFT domain?

Uses of an NFT Domain?

1. Simplify crypto transactions by replacing all your complicated wallet addresses with your domain name as your username.
2. Use your domain to receive 275+ coins and tokens across multiple blockchain networks.
3. Login to apps with your domain name as your universal web3 username.
4. Unlike traditional domains, fully own and control your domain. You buy it once, you own it for life!
5. Easily create and host websites, ranging from personal websites to NFT galleries.

Reasons to get one?

#1) Zero Renewal Fees

Unlike traditional .com domains, you fully own and control your Unstoppable Domain, so you never have to pay renewal fees. Ever. You buy it once, you own it for life!

#2) Seamless Crypto Payments

No longer fear your payments getting lost in the ether (pun intended). Instead of copy and pasting your wallet address (which is similar to a bank account number and can look like: 0xc6b0562605d35ee710138402b878ffe6f2e23807), use an Unstoppable Domain as your one-stop-shop username to store all of your wallet addresses for sending and receiving crypto.

#3) Multi-Chain Compatibility

Your NFT domain comes with the superpower to receive over 275 supported coins and tokens, with many more on the way! Now you can navigate crypto transactions with ease, regardless of the blockchain network. Browse the complete list of supported cryptocurrencies here.

#4) Decentralized Websites

Want to create a website on the decentralized web? Create one in just a few clicks with our pre-made templates. Own any NFTs? Create a gallery-style website to show off your favorite collectibles as your collection grows. We’ll be adding more features and templates in the future, so stay tuned here.

#5) Own Your Identity on Web3

As the world shifts to web3, it’ll be more important than ever to own your part of the new internet. By owning an Unstoppable Domain, you’ll not only help progress the digital world, you’ll ensure your identity is secured for the next wave of technology.

How to get one?

1. To buy one visit this link and follow the prompts: Register for Unstoppable Domains.

Cryptocurrencies such as bitcoin and ether offer a number of benefits, and one of the most fundamental is not requiring trust in an intermediary institution to send payments, which opens up their use to anyone around the globe. But one key drawback is that cryptocurrencies’ prices are unpredictable and have a tendency to fluctuate, often wildly.

This makes them hard for everyday people to use. Generally, people expect to be able to know how much their money will be worth a week from now, both for their security and their livelihood.

Cryptocurrency’s unpredictability comes in contrast to the generally stable prices of fiat money, such as U.S. dollars, or other assets, such as gold. Values of currencies like the dollar do change gradually over time, but the day-to-day changes are often more drastic for cryptocurrencies, which rise and fall in value regularly.

Stablecoins in a nutshell

Stablecoins try to tackle price fluctuations by tying the value of cryptocurrencies to other more stable assets – usually fiat currencies. Fiat is the government-issued currency we’re all used to using on a day-to-day basis, such as dollars or euros.

Usually, the entity behind a stablecoin will set up a “reserve” where it securely stores the asset or basket of assets backing the stablecoin – for example, $1 million in an old-fashioned bank (the kind with branches and tellers and ATMs in the lobby) to back up one million units of a stablecoin.

This is one-way digital stablecoins are pegged to real-world assets. The money in the reserve serves as collateral for the stablecoin – meaning whenever a stablecoin holder wishes to cash out their tokens, an equal amount of whichever asset backs it is taken from the reserve.

There is a more complex type of stablecoin that is collateralized by other cryptocurrencies rather than fiat yet still is engineered to track a mainstream asset like the dollar.

Types of stablecoin collateral

Using this framework, stablecoins come in a range of flavors, and the collateralized stablecoins use a variety of types of assets as backing:

• Fiat: Fiat is the most common collateral for stablecoins. The U.S. dollar is the most popular among fiat currencies, but companies are exploring stablecoins pegged to other fiat currencies as well, such as BiLira, which is pegged to the Turkish lira.
• Precious metals: Some cryptocurrencies are tied to the value of precious metals such as gold or silver.
• Cryptocurrencies: Some stablecoins even use other cryptocurrencies, such as ether, the native token of the Ethereum network, as collateral.
• Other investments: Tether’s USDT was once supposed to be backed 1-for-1 with dollars but its collateral mix has shifted over time and in a breakdown provided in 2021 the company said nearly half its reserves are in commercial paper, a form of short-term corporate debt. It has not disclosed the issuers of this paper but claims it is all rated A-2 or higher (A-2 is the second-best grade available for a corporate borrower from credit rating agencies like Standard & Poor’s). Circle’s USDC, similarly, lists unspecified “approved investments” alongside accounts at federally insured banks (notably, it does not say whether the accounts themselves are insured) in its monthly disclosures.

Popular Stablecoins

• Tether(USDT)
• USD Coin(USDC)
• Binance USD(BUSD)
• Terra USD(UST)
• Dai(DAI)

Alien Worlds

In this game, players join an alien universe consisting of several planets where they must fight for scarce resources and mine the game’s native cryptocurrency, trillium (TLM). Players can also battle each other, go on quests and earn additional income by renting out their land to others.

Alien Worlds was the first game to break through 100,000 users and currently boasts over 2.5 million players. This was, in part, due to its free-to-play nature and the fact its metaverse world spans multiple blockchains including WAX, Ethereum, and Binance Smart Chain.

• Native crypto token: trilium (TLM)
• Blockchains: Native WAX blockchain, but also runs off Ethereum and Binance Smart Chain (BSC)
• Monthly user base: 1,000,000
• The initial investment required: You are required to buy NFT game cards such as land in order to mine.

CryptoBlades

CryptoBlades is a web-based role-playing game that emulates traditional games like Skyrim or Dark Souls. Players can battle monsters or complete in-game raids to earn SKILL tokens. To help with battles, players can craft weapons to build an advantage over their opponents or boost their power. These items can then be traded in an open marketplace.

The gameplay itself is straightforward. There are four main components – fire, earth, lightning, and water – allocated to each character, weapon, attribute, and enemy. Each component will have its strengths and weaknesses, which players must then utilize and build strategies to beat their opponents.

• Native crypto token: cryptoblades (SKILL)
• Blockchain: Binance Smart Chain
• Monthly user base: 510,000
• The initial investment required: Users will need to purchase around 0.2 BNB to play and pay for transaction fees in-game.

Axie Infinity

A Pokemon-inspired universe where you can buy, take care of, breed, and trade digital monsters called “Axies.” Axie Infinity runs off its own specifically built sidechain so that it can optimize gameplay and scale effectively.

The game has a high earning potential but requires high involvement to breed, care for and trade rare or unique Axies. These monsters can battle each other to earn SLP tokens or be sent on quests for resource farming.

• Native token: axie infinity (AXS) and smooth love potion (SLP)
• Blockchain: Ethereum
• Monthly user base: 308,000
• The initial investment required: You need to purchase three Axies from the in-house marketplace before you can play.

Upland

Upland is an NFT metaverse made to parallel our world where players can buy, sell and trade properties linked to real-world addresses. Users can then play, run businesses and connect with other Uplanders across the world.

Players have an Upland avatar that can roam throughout a city to look for available properties for purchase. Or they can visit other players’ properties. To earn special UPX rewards and increase a property’s earnings, users can complete a Collection. This is similar to Monopoly; the more properties you have of a single color, the more valuable they are.

• Native token: upland (UPX)
• Blockchain: EOS
• Monthly user base: 155,000
• The initial investment required: To open an account, you need to first purchase a virtual property.

Splinterlands

This is a digital collectible card game where players build up a collection of cards with various abilities and stats and use them to battle other players. Each card is represented by an NFT and is tradable or can be exchanged on the open market. The game relies on one-on-one fighting where players are randomly assigned battle parameters.

Both players then have a limited amount of time to build a deck of cards they will use to fight each other.

• Native token: dark energy crystals (DEC) and splintershards (SPS), which is the governance token
• Blockchain: Hive blockchain
• Monthly user base: 120,000
• The initial investment required: You must buy the summoner’s spellbook for $10 if you want to unlock the play-to-earn features and receive DEC tokens.

Source: CoinDesk

Unlike many traditional online games, which operate on a “pay-to-win” model and allow players to purchase upgrades in order to gain an advantage over others, GameFi introduces a “play-to-earn” model. This concept involves giving players financial incentives to play and progress through games. In some cases, this has allowed gamers to earn a full-time income by doing so.

How it works

All objects in these types of games are expressed as NFTs – digital tokens used to prove ownership of scarce intangible items. Think of things like plots of land, avatars, costumes, weapons, and gold bars. Once players find and accrue these items through gameplay, many have the option to trade these with others in digital marketplaces for different NFTs or sell them in exchange for cryptocurrency.

Depending on which game is played, users can increase their earning potential by dedicating time leveling up and improving their characters, creating monetized structures on their land that other gamers pay to use, or by competing against others in tournaments.

In order to keep track of what every player owns, all NFTs and cryptocurrency transaction data are stored on a public blockchain. This is a type of distributed, digital record-keeping technology maintained by a global network of computers. Leveraging this technology in gaming provides a number of benefits, including:

• Players can easily prove ownership of their in-game items.
• There is no single point of failure, meaning players will no longer be at risk of losing track of what they own if the underlying gaming company experiences technical issues.
• Items accrued during gameplay cannot be counterfeited, removed, or destroyed.
• Game-native cryptocurrencies can be sent and received without the need for intermediary settlement, clearing, or custody.

Some games also include DeFi elements such as staking, where players can lock away certain tokens in order to earn annual interest, and other rewards they can save to purchase other in-game items or unlock new content.

What you need to play

In order to take part in any of these play-to-earn games, users will need to do the following:

• Create a cryptocurrency wallet: To store their virtual currency and NFTs, and make in-game transactions. Which wallet you need will depend on which blockchain the game was built upon. For example, MetaMask – an Ethereum-based crypto wallet service – will work with any GameFi game built on Ethereum.
• Purchase starter items: All GameFi games are free to download. However, many require players to first purchase characters, native crypto tokens, decks of cards, or upgrades in order to begin.
• Pre-funded crypto wallet: You will need to pre-fund your crypto wallet with a particular cryptocurrency in order to purchase starter items and proceed. Cryptoblades, for example, requires users to download MetaMask, purchase Binance coin (BNB) and exchange it for the game’s native cryptocurrency, SKILL.

Where did GameFi come from?

The emergence of GameFi comes from a combination of factors that dates back to 2017 and the emergence of the NFT phenomenon CryptoKitties. The digital collectibles economy proved a viral success, with CryptoKitties amassing over 14,914 users a day at its peak. CryptoPunks, a collection of 10,000 pixelated NFT characters also built on Ethereum, enjoyed similar success, surpassing $1 billion in sales over 2018.

Unfortunately, the success of these NFTs showed both the good and bad sides of the state of blockchain technology at the time. Games like CryptoKitties caused heavy congestion on the Ethereum network, leading to extreme spikes in transaction fees and much slower than normal transaction confirmation times. These technical issues highlighted a clear gap in the market for more efficient and scalable platforms that could handle the rising demand from online gamers and virtual asset collectors.

Since then, a number of new “Ethereum killer” blockchains have emerged that promise faster transaction speeds, greater scalability, and cheaper fees. These include the likes of Solana and Cardano, both of which have recently set new all-time highs as investors bet big on new dapp competitors.

The proliferation of decentralized finance (DeFi) platforms over 2020 was the next critical component enabling GameFi’s growth, introducing a range of blockchain-native financial platforms that run entirely using smart contracts. This provided the infrastructure for decentralized exchanges where in-game cryptocurrencies could be launched from and traded, as well as additional features like lending and staking.

In September 2020, Yearn.finance founder and DeFi developer Andre Conje tweeted about the gamification of monetary policies in a decentralized environment. He recognized the multiple benefits DeFi and NFTs could bring to the online gaming industry, and GameFi applications quickly started to form. Axie Infinity was one of the first play-to-earn games to take off in a big way, surpassing $1 billion in revenue on Aug. 9, 2021.

Coming Soon: Top GameFi Games

Source: CoinDesk

A typical way many try to make a return in crypto with little to no involvement is through buying and holding crypto – also known in the industry as “HODLing.” This means an investor is prepared to purchase a digital asset with the mindset that its price will hopefully rise significantly sometime in the future. Such investors are ready to go the distance as this long-term strategy might require them to hold their positions anywhere between six months to five years. Through the duration of this investment, an investor does not have to be proactive in the crypto market. They only need to buy the digital asset and store it in a secure wallet – preferably a non-custodial wallet.

• A wallet is a device or app where you can store a special key (private key) that gives access to your cryptocurrencies. The non-custodial variants let you store the private key in your personal devices, including a computer, mobile phone, or purpose-built wallet devices. With this, you have complete control over your private keys and, ultimately, your digital assets. By comparison, with a custodial wallet, a third party controls your private keys.

However, simply buying and holding a crypto asset for any length of time does not guarantee you will make a profit. In fact, it’s very possible you could lose money. As such, exclusively HODLing crypto cannot be considered a truly passive income generator.

Proof-of-stake (PoS) staking

Proof-of-stake is a type of blockchain consensus mechanism designed to allow distributed network participants to reach an agreement on new data entering the blockchain. Note that blockchains enable open and decentralized networks where participants contribute to governance and processes involved in validating transactions. This is critical because such a community-focused approach eliminates the need for central authorities like banks. In most cases, blockchains randomly pick participants, elevate them to the status of validators, and reward them for their efforts.

The systems used to pick validators vary from blockchain to blockchain. Some blockchain networks require users to deposit or commit their financial resources to the network. Here, the blockchain selects validators from a pool of users that have staked a specified sum of its native digital asset. In return, validators earn interest on the staked funds for contributing to the validity of the network. This validation mechanism is what is called proof-of-stake. It provides an opportunity for holders (those in it for the long haul) to generate passive income.

Knowing fully well that transaction validation might be technically tasking, you could opt for PoS blockchains that allow you to delegate your stakes to other participants who are ready to take up the technical requirements of staking. Understandably, the reward distributed to validators is slightly higher than that of a delegator. Some of the PoS blockchains you could consider are:

• Cardano
• Ethereum 2.0
• Polkadot
• Solana

For even more convenience, you could adopt one of the several staking services available today. With these platforms, you can deposit a fraction of the number of digital assets required by the blockchain. For example, you normally have to deposit a minimum of 32 ETH on the Ethereum 2.0 blockchain to become a validator. With a third-party Ethereum staking service, however, you could deposit as little as 5 ETH to start accruing interest.

Interest-bearing digital asset accounts

Holders can take advantage of interest-bearing crypto accounts to earn fixed interest on their idle digital assets. Think of this as putting money in an interest-earning bank account. The only difference is that this service supports only crypto deposits. Instead of holding digital assets in your wallets, you can deposit them in these accounts and receive daily, weekly, monthly or yearly earnings, depending on the predefined interest rates. Crypto service providers that offer such products include:

• Nexo
• Celsius Network
• SwissBorg
• BlockFi

Lending

Lending has become one of the most popular crypto services in both the centralized and decentralized segments of the crypto industry. As an investor, you can lend your digital assets to borrowers for a chance to earn interest. There are four main lending strategies you could opt for:

Peer-to-peer lending: Platforms that provide such services enable systems that allow users to set their terms, decide the amount they want to lend and the interest they intend to generate on loans. The platform matches lenders with borrowers, similar to how P2P (peer-to-peer) trading platforms match buyers and sellers. Such lending systems provide users with a certain degree of control when it comes to crypto lending. However, you have to deposit your digital asset on the lending platform’s custodial wallet beforehand.

Centralized lending: In this strategy, you rely solely on the lending infrastructure of third parties. Here, the interest rates are fixed, so are the lock-up periods. Like P2P lending, you have to transfer your crypto to the lending platform to start earning interest.

Decentralized or DeFi lending: This strategy allows users to execute lending services directly on the blockchain. Unlike the P2P and centralized lending strategies, there are no intermediaries involved in DeFi lending. Instead, lenders and borrowers interact with programmable and self-executing contracts (also known as smart contracts), which autonomously and periodically set interest rates.

Margin lending: Lastly, you could lend your crypto assets to traders interested in using borrowed funds to trade. These traders amplify their trading position with borrowed funds and repay the loans with interest. In this case, crypto exchanges do most of the work on your behalf. All you need to do is make your digital asset available.

Cloud mining

Unlike the proof-of-stake mechanism explained earlier, some blockchains, including Bitcoin, opt for a more computer-intensive approach where users need to prove the eligibility of their claim to become validators (more commonly called miners) by competing against each other to solve highly complex mathematical puzzles. This process is called crypto mining. Due to the competitiveness of this consensus mechanism, miners have to invest in powerful computers and pay exorbitant electricity bills.

Undoubtedly, this venture is time-consuming and technical. And so, investors often opt for an alternate approach called cloud mining. With this, you can pay third parties to take up the technical aspect of crypto mining on your behalf. In essence, you pay a platform that offers such services a lump sum to rent or buy mining machines from their mining facilities. After this first payment, you might have to pay a daily maintenance fee so that the cloud mining service provider can help you manage your mining rigs.

As exciting as this sounds, it comes with lots of risks. Cloud mining has been a subject of controversy ever since it became widely adopted. There have been several cases of scams due to the remote nature of this mining venture. Therefore, you should carry out due diligence before opting for this option.

Dividend-earning tokens

Certain tokens offer holders a fraction of the revenue of the company that issued them. All you need to do is hold the token, and you are automatically eligible to receive a certain percentage of the company’s revenue. The number of tokens you own determines the share of the revenue you would receive. An example of this is KuCoin Shares (KCS), where holders receive a daily share of transaction fees accrued by the KuCoin blockchain asset exchange. The amount received is proportional to the amount of KCS tokens each holder stakes.

Yield farming

Yield farming is another decentralized, or DeFi, method of earning passive crypto income. This is made possible by the dynamic operations of decentralized exchanges, which are basically trading platforms where users rely on the combination of smart contracts (programmable and self-executing computer contracts) and investors for the liquidity necessary to execute trades. Here, users do not trade against brokers or other traders. Instead, they trade against funds deposited by investors – known as liquidity providers – into special smart contracts known as liquidity pools. In turn, liquidity providers receive a proportional amount of trading fees from the pool.

To start earning passive income via this system you first have to take up the role of a liquidity provider (LP) on a DeFi exchange such as Uniswap, Aave, or PancakeSwap.

To start earning these fees, you have to deposit a specified ratio of two or more digital assets into a liquidity pool.

• For example, in order to provide liquidity to an ETH/USDT pool, you will need to deposit both ETH and USDT tokens into it.

Once you deposit liquidity, the decentralized exchange will transfer LP tokens representing your share of the total funds locked in the liquidity pool. You can then stake these LP tokens using supported decentralized lending platforms and earn additional interest. This strategy allows you to earn two separate interest rates from a single deposit.

The crypto passive income opportunities listed in this guide are just some of the many ways you can make extra profit with your idle digital assets. Note that none of these opportunities are risk-free. Hence, it is advisable to carry out your own research, seek professional guidance from a qualified financial advisor, and determine what best suits your investment goals.

I’d like to introduce to you: Binance.

The best crypto exchange. Binance has a specific feature known as the Binance Vault that enables you to earn passive income on the crypto you hold with relatively low risk. With Binance, you can just buy crypto, add it to your Earn Vault and sleep knowing your crypto is growing.

To use this, kindly register with Binance using this link: Register With Binance and Get 20%

Source: CoinDesk

The original concept behind the invention of blockchain technology is still a great application. Money transfers using blockchain can be less expensive and faster than using existing money transfer services. This is especially true of cross-border transactions, which are often slow and expensive. Even in the modern U.S. financial system, money transfers between accounts can take days, while a blockchain transaction takes minutes.

2. Financial exchanges

Many companies have popped up over the past few years offering decentralized cryptocurrency exchanges. Using blockchain for exchanges allows for faster and less expensive transactions. Moreover, a decentralized exchange doesn’t require investors to deposit their assets with the centralized authority, which means they maintain greater control and security. While blockchain-based exchanges primarily deal in cryptocurrency, the concept could be applied to more traditional investments as well.

3. Lending

Lenders can use blockchain to execute collateralized loans through smart contracts. Smart contracts built on the blockchain allow certain events to automatically trigger things like a service payment, a margin call, full repayment of the loan, and release of collateral. As a result, loan processing is faster and less expensive, and lenders can offer better rates.

4. Insurance

Using smart contracts on a blockchain can provide greater transparency for customers and insurance providers. Recording all claims on a blockchain would keep customers from making duplicate claims for the same event. Furthermore, using smart contracts can speed up the process for claimants to receive payments.

5. Real estate

Real estate transactions require a ton of paperwork to verify financial information and ownership and then transfer deeds and titles to new owners. Using blockchain technology to record real estate transactions can provide a more secure and accessible means of verifying and transferring ownership. That can speed up transactions, reduce paperwork, and save money.

6. Secure personal information

Keeping data such as your Social Security number, date of birth, and other identifying information on a public ledger (e.g., a blockchain) may actually be more secure than current systems more susceptible to hacks. Blockchain technology can be used to secure access to identifying information while improving access for those who need it in industries such as travel, healthcare, finance, and education.

7. Voting

If personally identifiable information is held on a blockchain, that puts us just one step away from also being able to vote using blockchain technology. Using blockchain technology can make sure that nobody votes twice, only eligible voters are able to vote, and votes cannot be tampered with. What’s more, it can increase access to voting by making it as simple as pressing a few buttons on your smartphone. At the same time, the cost of running an election would substantially decrease.

8. Government benefits

Another way to use digital identities stored on a blockchain is for the administration of government benefits such as welfare programs, Social Security, and Medicare. Using blockchain technology could reduce fraud and the costs of operations. Meanwhile, beneficiaries can receive funds more quickly through digital disbursement on the blockchain.

9. Securely share medical information

Keeping medical records on a blockchain can allow doctors and medical professionals to obtain accurate and up-to-date information on their patients. That can ensure that patients seeing multiple doctors get the best care possible. It can also speed up the system for pulling medical records, allowing for more timely treatment in some cases. And, if insurance information is held in the database, doctors can easily verify whether a patient is insured and their treatment is covered.

10. Artist royalties

Using blockchain technology to track music and film files distributed over the internet can make sure that artists are paid for their work. Since blockchain technology was invented to ensure the same file doesn’t exist in more than one place, it can be used to help reduce piracy. What’s more, using a blockchain to track playbacks on streaming services and a smart contract to distribute payments can provide greater transparency and the assurance that artists receive the money they’re owed.

11. Non-fungible tokens

Non-fungible tokens, or NFTs, are commonly thought of as ways to own the rights to digital art. Since the blockchain prevents data from existing in two places, putting an NFT on the blockchain guarantees that only a single copy of a piece of digital art exists. That can make it like investing in physical art but without the drawbacks of storage and maintenance.

NFTs can have varied applications, and ultimately they’re a way to convey ownership of anything that can be represented by data. That could be the deed to a house, the broadcast rights to a video, or an event ticket. Anything remotely unique could be an NFT.

12. Logistics and supply chain tracking

Using blockchain technology to track items as they move through a logistics or supply chain network can provide several advantages. First of all, it provides greater ease of communication between partners since data is available on a secure public ledger. Second, it provides greater security and data integrity since the data on the blockchain can’t be altered. That means logistics and supply chain partners can work together more easily with greater trust that the data they’ve provided is accurate and up to date.

13. Secure Internet of Things networks

The Internet of Things (IoT) is making our lives easier, but it’s also opening the door for nefarious actors to access our data or take control of important systems. Blockchain technology can provide greater security by storing passwords and other data on a decentralized network instead of a centralized server. Additionally, it offers protection against data tampering since a blockchain is practically immutable.

14. Data storage

Adding blockchain technology to a data storage solution can provide greater security and integrity. Since data can be stored in a decentralized manner, it will be more difficult to hack into and wipe out all the data on the network, whereas a centralized data storage provider may only have a few points of redundancy. It also means greater access to data since access isn’t necessarily reliant on the operations of a single company. In some cases, using blockchain for data storage may also be less expensive.

15. Gambling

The gambling industry can use blockchain to provide several benefits to players. One of the biggest benefits of operating a casino on the blockchain is the transparency it provides to potential gamblers. Since every transaction is recorded on the blockchain, bettors can see that the games are fair and the casino pays out. Furthermore, by using blockchain, there’s no need to provide personal information, including a bank account, which may be a hurdle for some would-be gamblers. It also provides a workaround for regulatory restrictions since players can gamble anonymously and the decentralized network isn’t susceptible to a government shutdown.

Blockchain is in its infancy

Blockchain technology has only been around for a dozen years, and businesses are still exploring new ways to apply the technology to support their operations. With the growing amount of digital data used in our lives, there’s a growing need for the data security, access, transparency, and integrity blockchain can provide.

Source: The Motley Fool

More specifically proof-of-work solves the “double-spending problem,” which is trickier to solve without a leader in charge. If users can double-spend their coins, this inflates the overall supply, debasing everyone else’s coins and making the currency unpredictable and worthless.

Double-spending is an issue for online transactions because digital actions are very easy to replicate, which is what makes it trivial to copy and paste a file or send an email to more than one person.

Proof-of-work makes doubling digital money very, very hard. It’s much what it sounds like “proof” that someone has done a significant amount of computations.

How proof-of-work works

Bitcoin is a blockchain, which is a shared ledger that contains a history of every Bitcoin transaction that ever took place. This blockchain, as the name suggests, is composed of blocks. Each block has the most recent transactions stored in it.

Proof-of-work is a necessary part of adding new blocks to the Bitcoin blockchain. Blocks are summoned to life by miners, the players in the ecosystem who execute proof-of-work**.** A new block is accepted by the network each time a miner comes up with a new winning proof-of-work, which happens roughly every 10 minutes.

Finding the winning proof-of-work is so difficult the only way to provide the work miners need to win bitcoin is with expensive, specialized computers. Miners will earn bitcoin if they guess a matching computation. The more computations they churn out, the more bitcoin they are likely to earn.

What computations are the miners making exactly? In Bitcoin, miners spit out the so-called “hash,” which turns an input into a random-looking string of letters and numbers.

The goal of the miners is to create a hash matching Bitcoin’s current “target.” They must create a hash with enough zeroes in front. The probability of getting several zeros in a row is very low. But miners across the world are making trillions of such computations a second, so it takes them about 10 minutes on average to hit this target.

Whoever reaches the goal first wins a batch of the bitcoin cryptocurrency. Then the Bitcoin protocol creates a new value that miners must hash, and miners start the race for finding the winning proof-of-work all over again.

Source: CoinDesk

To put it simply: Proof of stake is basically a process used to validate crypto transactions through staking.

Both proof-of-work and proof-of-stake are what are called “consensus mechanisms,” the method by which a blockchain maintains its integrity. Consensus is what addresses the “double spending” problem of digital money. If there were any way the user of a cryptocurrency could spend their coins more than once, it would undermine the entire system. The currency would be worthless.

This is a tricky problem, especially with online currencies that have no central authority, such as a bank or a government, to keep track of how much money each person has, how they’re spending it, and whom they’re paying.

The Bitcoin network was the first to solve this problem with proof-of-work. Proof-of-stake has emerged as a possible alternative that some researchers think is both more energy-efficient and more secure, though there’s debate about this.

In PoS, the nodes of the network commit “stakes” of tokens for a set period of time in exchange for a chance at being selected to produce the next block of transactions. The node that’s chosen - referred to as the “validator” - will receive the block rewards in the form of the native token of the network.

How does proof of stake work?

To answer the question “what is proof of stake,” we must first define what it means for blockchains to achieve consensus.

Blockchain is a decentralized distributed ledger of transactions. Because there’s no single server controlling the network, there has to be some way for everyone to agree on which transactions are valid. Otherwise, it would be possible for people to create fake transactions.

The servers in a blockchain are called “nodes.” Nodes process transactions. Some nodes have the ability to add blocks of transactions to the chain, maintaining and growing the ledger. In Proof of Work (PoW) networks (which we’ll cover later) like Bitcoin, these nodes are referred to as “miners.”

For PoS, nodes commit funds to the network - a process known as “staking” - for a chance to be chosen as the next block writer instead of nodes competing with each other to be rewarded for solving cryptographic puzzles, as is the case with PoW.

In PoS networks, nodes that can add blocks are called “validators,” which are individuals who are responsible for verifying transactions on a blockchain. Each validator has a chance at being selected to write the next block and receive its rewards.

It’s kind of like a lottery - the larger the stake of tokens committed, the higher odds that node has of being chosen. “The choice of the next block writer, the next validator, is a pseudo-random process that’s determined by the size of the stake that you as the user have dedicated to the network,” says Daniel Gould, CEO, and co-founder of Nodamatics.

PoS can improve upon some of the biggest problems presented by PoW, namely:

Energy consumption: PoS requires less energy than PoW.

Transaction throughput: PoS networks can handle more transactions than PoW.

Scalability: PoS networks can scale more easily than PoW networks.

A quick tip: For a deeper understanding of PoW and how it first made digital currency possible, read the Satoshi Nakamoto white paper.

Which cryptocurrencies use proof of stake?

A growing number of the most popular cryptocurrencies use some variation of the PoS protocol. Here’s a partial list:

• Cosmos (ATOM)
• Cardano (ADA)
• Polkadot (DOT)
• Solana (SOL)
• VeChain (VET)
• Tezos (XTZ)

These networks aim to accomplish a variety of different tasks.

Cardano and Solana are focused on providing smart contract functionality, much like Ethereum.

Cosmos helps different blockchain communicate with each other.

Tezos is designed to allow for the creation and trading of security tokens.

Because there is no “mining” involved in PoS, PoS networks often start with a “pre-mine,” where the entire supply of tokens is brought into existence at once.

SUMMARY

• Proof of Stake (PoS) is a consensus protocol - or a set of rules or system of agreement - that’s used to validate cryptocurrency transactions.
• PoS redefines how blockchain nodes agree on which record of crypto transactions is accurate and improves upon the Proof of Work (PoW) system.
• PoS requires validators to stake tokens to validate transactions, while PoW requires miners to solve a cryptographic puzzle.

The code and the agreements contained therein exist across a distributed, decentralized blockchain network. The code controls the execution, and transactions are trackable and irreversible.

Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism.

Smart contracts are made possible by blockchains, a network of computers that work together to enforce rules on the network without requiring the help of an intermediary.

How smart contracts work

Smart contracts work by following simple “if/when…then…” statements that are written into code on a blockchain. A network of computers executes the actions when predetermined conditions have been met and verified. These actions could include releasing funds to the appropriate parties, registering a vehicle, sending notifications, or issuing a ticket. The blockchain is then updated when the transaction is completed. That means the transaction cannot be changed, and only parties who have been granted permission can see the results.

Within a smart contract, there can be as many stipulations as needed to satisfy the participants that the task will be completed satisfactorily. To establish the terms, participants must determine how transactions and their data are represented on the blockchain, agree on the “if/when…then…” rules that govern those transactions, explore all possible exceptions, and define a framework for resolving disputes.

Then the smart contract can be programmed by a developer – although increasingly, organizations that use blockchain for business provide templates, web interfaces, and other online tools to simplify structuring smart contracts.

With conventional contracts, a document outlines the terms of a relationship between two parties, which is enforceable by law. If one Party A violates the terms, Party B can take Party A to court for not complying with the agreement. A smart contract fortifies such agreements in code so the rules are automatically enforced without courts (or any third party) getting involved.

Benefits of smart contracts

• Speed, efficiency, and accuracy: Once a condition is met, the contract is executed immediately. Because smart contracts are digital and automated, there’s no paperwork to process and no time spent reconciling errors that often result from manually filling in documents.
• Trust and transparency: Because there’s no third party involved, and because encrypted records of transactions are shared across participants, there’s no need to question whether information has been altered for personal benefit.
• Security: Blockchain transaction records are encrypted, which makes them very hard to hack. Moreover, because each record is connected to the previous and subsequent records on a distributed ledger, hackers would have to alter the entire chain to change a single record.
• Savings: Smart contracts remove the need for intermediaries to handle transactions and, by extension, their associated time delays and fees.

What can smart contracts be used for?

Some common ways of using smart contracts are:

• Multisignature accounts: Funds can only be spent when a required percentage of people agree.
• Encoding financial agreements: Manage agreements between users. Say, if one person buys insurance from an insurance company, the rules of when the insurance can be redeemed can be programmed into a smart contract.
• Agreements based on the outside world: Pull in data from the outside world (financial, political, or whatever) with the help of oracles.
• Provide the third party: Similar to how a software library works, smart contracts can work with other smart contracts in a chain.
• Storage: Store information about an application, such as domain registration information or membership records. Storage in a blockchain like Ethereum is unique in that the data is immutable and can’t be erased.

Examples of blockchain platforms supporting smart contracts

• Bitcoin: Provides a Turing-incomplete script language that allows the creation of custom smart contracts on top of Bitcoin like multisignature accounts, payment channels, escrows, time locks, atomic cross-chain trading, oracles, or multi-party lottery with no operator.
• Cardano: A blockchain platform for smart contracts, using proof of stake
• Ethereum: Implements a Turing-complete language on its blockchain, a prominent smart contract framework.
• EOS.IO: A blockchain platform for smart contracts
• Tezos: A blockchain platform modifying its own set of rules with minimal disruption to the network through an on-chain governance model

You’ll find that these blockchains and cryptocurrencies are being used to create more cryptocurrencies and blockchains. Most are also involved in the metaverse and web 3.0 development.

Buy their cryptocurrencies by registering here: BINANCE

NB: NOT FINANCIAL ADVICE!

1. Axie Infinity(AXS): $136 or Ksh 15,320.40
2. Decentraland(MANA): $4.5 or Ksh 496.79
3. Enjin Coin(ENJ): $3.40 or Ksh 383.10
4. Gala(GALA): $0.605 or Ksh 68.11
5. The Sandbox(SAND): $6.31 or Ksh 710.82
6. Illuvium(ILV): $1,699.31 or Ksh 191,342.31

To buy these, I recommend you use Binance: The best cryptocurrency exchange where you can make passive income just for holding your crypto in their savings vault: Register for Binance Today and Get 5%

To find more gaming tokens, check out: CoinMarketCap

What is an NFT?

An NFT is a digital asset that represents real-world objects like art, music, in-game items, and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.

Although they’ve been around since 2014, NFTs are gaining notoriety now because they are becoming an increasingly popular way to buy and sell digital artwork. A staggering $174 million has been spent on NFTs since November 2017.

NFTs are also generally one of a kind, or at least one of a very limited run, and have unique identifying codes. “Essentially, NFTs create digital scarcity,” says Arry Yu, chair of the Washington Technology Industry Association Cascadia Blockchain Council and managing director of Yellow Umbrella Ventures.

This stands in stark contrast to most digital creations, which are almost always infinite in supply. Hypothetically, cutting off the supply should raise the value of a given asset, assuming it’s in demand.

But many NFTs, at least in these early days, have been digital creations that already exist in some form elsewhere, like iconic video clips from NBA games or securitized versions of digital art that’s already floating around on Instagram.

For instance, famous digital artist Mike Winklemann, better known as “Beeple” crafted a composite of 5,000 daily drawings to create perhaps the most famous NFT of the moment, “EVERYDAYS: The First 5000 Days,” which sold at Christie’s for a record-breaking $69.3 million.

Anyone can view the individual images—or even the entire collage of images online for free. So why are people willing to spend millions on something they could easily screenshot or download?

Because an NFT allows the buyer to own the original item. Not only that, it contains built-in authentication, which serves as proof of ownership. Collectors value those “digital bragging rights” almost more than the item itself.

How Is an NFT Different from Cryptocurrency?

NFT stands for non-fungible token. It’s generally built using the same kind of programming as cryptocurrency, like Bitcoin or Ethereum, but that’s where the similarity ends.

Physical money and cryptocurrencies are “fungible,” meaning they can be traded or exchanged for one another. They’re also equal in value—one dollar is always worth another dollar; one Bitcoin is always equal to another Bitcoin. Crypto’s fungibility makes it a trusted means of conducting transactions on the blockchain.

NFTs are different. Each has a digital signature that makes it impossible for NFTs to be exchanged for or equal to one another (hence, non-fungible). One NBA Top Shot clip, for example, is not equal to EVERYDAYS simply because they’re both NFTs. (One NBA Top Shot clip isn’t even necessarily equal to another NBA Top Shot clip, for that matter.)

How Does an NFT Work?

NFTs exist on a blockchain, which is a distributed public ledger that records transactions. You’re probably most familiar with blockchain as the underlying process that makes cryptocurrencies possible.

Specifically, NFTs are typically held on the Ethereum blockchain, although other blockchains support them as well.

An NFT is created, or “minted” from digital objects that represent both tangible and intangible items, including:

• Art

• GIFs

• Videos and sports highlights

• Collectibles

• Virtual avatars and video game skins

• Designer sneakers

• Music

Even tweets count. Twitter co-founder Jack Dorsey sold his first-ever tweet as an NFT for more than $2.9 million.

Essentially, NFTs are like physical collector’s items, only digital. So instead of getting an actual oil painting to hang on the wall, the buyer gets a digital file instead.

They also get exclusive ownership rights. That’s right: NFTs can have only one owner at a time. NFTs’ unique data makes it easy to verify their ownership and transfer tokens between owners. The owner or creator can also store specific information inside them. For instance, artists can sign their artwork by including their signature in an NFT’s metadata.

What Are NFTs Used For?

Blockchain technology and NFTs afford artists and content creators a unique opportunity to monetize their wares. For example, artists no longer have to rely on galleries or auction houses to sell their art. Instead, the artist can sell it directly to the consumer as an NFT, which also lets them keep more of the profits. In addition, artists can program in royalties so they’ll receive a percentage of sales whenever their art is sold to a new owner. This is an attractive feature as artists generally do not receive future proceeds after their art is first sold.

Art isn’t the only way to make money with NFTs. Brands like Charmin and Taco Bell have auctioned off themed NFT art to raise funds for charity. Charmin dubbed its offering “NFTP” (non-fungible toilet paper), and Taco Bell’s NFT art sold out in minutes, with the highest bids coming in at 1.5 wrapped ether (WETH)—equal to $3,723.83 at time of writing.

Nyan Cat, a 2011-era GIF of a cat with a pop-tart body, sold for nearly $600,000 in February. And NBA Top Shot generated more than $500 million in sales as of late March. A single LeBron James highlight NFT fetched more than $200,000.

Even celebrities like Snoop Dogg and Lindsay Lohan are jumping on the NFT bandwagon, releasing unique memories, artwork and moments as securitized NFTs.

How to Buy NFTs

If you’re keen to start your own NFT collection, you’ll need to acquire some key items:

First, you’ll need to get a digital wallet that allows you to store NFTs and cryptocurrencies. You’ll likely need to purchase some cryptocurrency, like Ether, depending on what currencies your NFT provider accepts. You can buy crypto using a credit card on platforms like Coinbase, Kraken, eToro and even PayPal and Robinhood now. You’ll then be able to move it from the exchange to your wallet of choice.

You’ll want to keep fees in mind as you research options. Most exchanges charge at least a percentage of your transaction when you buy crypto.

Popular NFT Marketplaces

Once you’ve got your wallet set up and funded, there’s no shortage of NFT sites to shop. Currently, the largest NFT marketplaces are:

• OpenSea.io: This peer-to-peer platform bills itself a purveyor of “rare digital items and collectibles.” To get started, all you need to do is create an account to browse NFT collections. You can also sort pieces by sales volume to discover new artists.

• Rarible: Similar to OpenSea, Rarible is a democratic, open marketplace that allows artists and creators to issue and sell NFTs. RARI tokens issued on the platform enable holders to weigh in on features like fees and community rules.

• Foundation: Here, artists must receive “upvotes” or an invitation from fellow creators to post their art. The community’s exclusivity and cost of entry—artists must also purchase “gas” to mint NFTs—means it may boast higher-caliber artwork. For instance, Nyan Cat creator Chris Torres sold the NFT on the Foundation platform. It may also mean higher prices — not necessarily a bad thing for artists and collectors seeking to capitalize, assuming the demand for NFTs remains at current levels, or even increases over time.

Although these platforms and others are host to thousands of NFT creators and collectors, be sure you do your research carefully before buying. Some artists have fallen victim to impersonators who have listed and sold their work without their permission.

In addition, the verification processes for creators and NFT listings aren’t consistent across platforms — some are more stringent than others. OpenSea and Rarible, for example, do not require owner verification for NFT listings. Buyer protections appear to be sparse at best, so when shopping for NFTs, it may be best to keep the old adage “caveat emptor” (let the buyer beware) in mind.

Source: Forbes

1. Register in a Cryptocurrency Exchange. There’s Binance, Coinbase, and more. I suggest Binance. So if you’d like to register. here’s the link: Register on Binance Today!

   You’ll be required to submit proof of identification.

2. Set up how you will buy them e.g card, bank, or mpesa

3. Go buy your first crypto. I suggest Ethereum or Bitcoin

Simple as that!

Once a transaction is carried out in a traditional banking system, its details are recorded in a private ledger owned and monitored by a financial institution. However, in DeFi, the financial transactions are stored in a computer code on a decentralized public ledger. All participants using DeFi applications and platforms have an identical copy of the general ledger.

This ledger holds the information of every transaction in encryption code. Since decentralized blockchain platforms and applications are immutable, the records of ownership cannot be modified or deleted by a third party providing security in verifying transactions and storing their data.

Decentralized Finance works on the traditional financial system and replaces the intermediaries or central authorities with smart contracts. A smart contract is an automated merger, enforces agreements without intermediary involvement, and is easily accessible by anyone with an established internet connection. Most of the protocols work on the Ethereum blockchain, and the decentralized applications are often created using Ethereum.

Ethereum(ETH)

With the advent of WEB 3.0 and Ethereum 2.0, Ethereum is set to become the most popular and most used cryptocurrency. Then there’s the Ethereum Naming Service. Look just own 0.01 of ETH. Please do. Ethereum is that crypto that has so much potential. It can be used for so many things. Most metaverse tokens are built on Ethereum. Most Defi tokens are built on Ethereum. This should tell you something about the coin. So just make an effort to own this. Even just 0.01 ETH. That’s enough.

Bitcoin(BTC)

Bitcoin is the biggest crypto right now and it still has the potential to grow. Buy it now and forget about it.

Metaverse Index Token(MVI)

The metaverse is hyped right now. I believe it’s going to continue to grow. Buy this and you should be good.

Others to include that have potential: Dogecoin, Solana, Decentraland, Binance Coin, Uniswap, Binance USD, and Shiba Inu

NB: This article is not financial advice. Do your research. I recommend you start with Web 3.0, Metaverse, and Defi.

To finalize, if you’d like to invest in the aforementioned cryptocurrencies then invest with Binance and get 5%: Buy and Trade Crypto With The Best Exchange: Binance

Have a great day everyone!

Photo by Executium on Unsplash

I believe these have the ingredients necessary to 10x or even 100x before the end of the year.

1. Ethereum(ETH) - Because of the Ethereum 2.0 upgrade
2. Bitcoin(BTC) - Gut feeling
3. Solana(SOL) - Speculation
4. Decentraland(MANA) - Specifically because of all this metaverse hype
5. Illuvium - Gut feeling
6. Pancake Swap - Speculation
7. Chainlink - Speculation
8. Metaverse Index Token(MVI) - Metaverse hype
9. Moonriver - Gut feeling
10. Dogecoin and Shiba Inu - Speculation paired with recent findings
11. Polygon
12. Sandbox
13. Binance Coin - Good to have if you are using Binance

Always research before applying any advice you read/watch online. Plus develop an investment strategy and allocate a percentage of funds that should go into speculations.

Want to invest in these? Register for Binance, the best crypto exchange!

Blue Chip Stocks: 20%

Other Stocks + Remaining NSE 25 Share Index: 15%

Mutual Funds: 30%

Cryptocurrencies: 30%

Others(REITS and additional): 5%

I currently don’t own any real estate investments aside from Stanlib Fahari I-REIT but I’ll soon start investing directly in Real Estate which would total up to 35% I’d then use mutual funds for savings instead of investing.

I’m also looking forward to buying Ugandan and American stocks soon, so index funds will be joining the list in which I’ll allocate 20% and then move a few of the others down.

Aside from these, I am planning to buy ETFs like the ABSA NewGold ETF and more.

I am very interested in the crypto market so that percentage isn’t likely to change anytime soon. The reason for this is as I mention in my previous post which I’ll link down below. Crypto has been my “golden goose” out of all my investments crypto has brought me the highest returns on investment and as such I will stick with it for a while. To top this off the crypto market is still growing. Then there are the metaverse crypto tokens that are growing as well. So I believe crypto will remain my golden goose unless something else brings in more.

I’d like to make myself clear, every investment listed above aside from Mutual Funds will be held long-term for ATLEAST 6 months and ATMOST 30 years.

Mutual funds act as lifesaver jackets for me, as long as nothing “life-threatening” comes my way, then I am likely to hold them for the same period 6 months to 30 years.

Everything above is subject to change depending on my research and findings. Always research your preferred investments.

I’ll link all the posts I believe can help you make your own investment strategy down below. I’d love to hear more about your investment strategy and portfolio down below in the comments. So please feel free to share.

I use Genghis Capital for Kenyan Stocks(They also have a money market mutual fund), Equity for Ugandan Stocks, and Binance for Cryptocurrencies. I am slightly dissatisfied with Genghis but it’s a great company and they provide free market research as well as recommendations. Use this link to register with Binance, to use Genghis, just download their app from the Google Playstore or Apple Store and register. They have made it that simple. As for Ugandan Stocks use their online portal.

Note: I haven’t listed savings, retirement funds, life insurance, and the likes, simply because they don’t belong in this category. If you’d like me to talk about them kindly comment down below.

My plan is to live solely on investments.

That’s it for today.

Hope you have a great one!

Quote of today

Saving is puting your money to rest, investing is making your money work for you even while you are asleep

Additional Resources

Also Read:

Also Read:

Also Read:

Also Read:

Today I’ll be revealing my investment portfolio in a bid to encourage young people in their teens, twenties, and thirties to invest.

Starting up with stocks, mutual funds, crypto, and finally, my future “to invest in” list.

Stock Portfolio

Market Value: Ksh. 6,988

Total Cost: Ksh. 6,600

Profit/Loss: +358

Stocks: ABSA Bank, Britam, East African Cables, CIC Insurance, Co-operative Bank, Stanlib Fahari I-REIT, Sameer Africa, HF Group, KenGen, Kenya Re, Kenya Power, Scangroup, TransCentury, Uchumi, and Liberty Holdings.

Mutual Funds

Value: Ksh. 17,404

Cost: Ksh. 16,000

Profit/Loss: +404

GenCap Hela Imara Fund: Ksh. 6,250

Cytonn Money Market Fund: Ksh. 11,154

Cryptocurrency Portfolio

Market Value: Ksh. 14, 661.16

Total Cost: Ksh. 6,400

Profit/Loss: +8,261.16

Cryptocurrencies: Binance Coin, Ethereum, Bitcoin, Shiba Inu, Cardano, Dogecoin, Mines of Dalarnia, Manchester City Fan Token, Basic Attention Token, and Binance USD

Total Cost: Ksh. 29,000

Profit: +9,029

Time Frame: 7 Months

My “To Invest In” List

Stocks: MTN Uganda, Safaricom, Equity Bank, Kenya Commercial Bank, B.O.C, Kenya, Centum, Total Energies, NSE, The Remaining NSE 25 Share Index, Vanguard 500 Index Fund(US), ABSA NewGold ETF, Facebook/Meta(US), Google/Alphabet(US), and Tesla(US)

Cryptocurrencies: More Ethereum, Decentraland, Axie Infinity, Enjin Coin, Metaverse Index Token, Chainlink, Loopring, Polkadot, Solana, Polygon/Mantic, Illuvium, and Veechain

Others: Bonds, Bills, Vuka(From Qwetu), and Real Estate

The “metaverse” might be a new term for many, but it has actually been around for decades. The metaverse is the zenith of all science fiction fantasies that were played out in films such as ‘Ready Player One’, ‘Sword Art Online’ and ‘Tron.’

It’s therefore not a surprise that companies such as Facebook are investing heavily in the metaverse. But, what exactly is the metaverse, and what tokens should you know about if you are looking into investing in it?

Read on to learn more about the metaverse and what investment opportunities exist in the crypto markets that provide you with exposure to the growth of the metaverse.

What is the Metaverse?

Before we take a look at the metaverse investment options you can consider, let’s first take a look at what the metaverse is.

The metaverse is a convergence of both our physical and digital lives — a new phase of the Internet that will see the coming together of augmented reality (AR), extended reality (XR), and virtual reality (VR) with our physical world.

The world as we know it today will change greatly with the arrival of the metaverse. The metaverse will provide an alternative digital universe where human beings will not only be able to live and work in, but also play.

So, why should you care about the metaverse?

As an investor, why should you invest in it? According to Bloomberg, the metaverse’s market size is expected to grow to $800 billion dollars( 89 Trillion Kenyan Shillings) by the year 2024. This signifies how lucrative the metaverse could become in the coming years.

But, what metaverse investments can you make? How can you get started investing in the metaverse? What tokens should you consider investing in?

Decentraland (MANA)

A metaverse token you should know about is MANA, Decentraland’s token.

Decentraland is a blockchain-based virtual reality platform where users get to buy, sell, and develop land, all while playing games, creating content, and interacting with each other.

Decentraland is the biggest virtual universe in the NFT space and is represented as a non-fungible ERC-71 token known as LAND. Each parcel of LAND on Decentraland is unique and owners can choose what they get to do with their portion of land.

Users can purchase LAND on the platform using MANA. Besides being used to purchase LAND, MANA is the main token used in Decentraland. As a native utility token, it’s used to pay for goods and services. It’s also built on Ethereum and can be bought and sold for other cryptocurrencies or for fiat currency.

MANA’s total supply is fixed at 2.6 billion MANA. That means that there will never be more than 2.6 billion MANA at any given time.

Axie Infinity (AXS)

Axie Infinity is an NFT-based online video game that uses the Ethereum-based digital tokens AXS and SLP. In the play-to-earn game, players breed, raise, and battle their digital pets known as Axies. The Axie Infinity game uses the governance token AXS.

Token holders are able to vote and shape the direction of the game world. This is different from traditional games, where the game developers make all the decisions. AXS owners are not only able to stake their tokens and earn more, but they are also able to vote for different governance proposals.

The Axie universe also uses the Smooth Love Potion (SLP) token. The SLP token is primarily used for breeding purposes. Players can earn the SLP token by winning adventures and battles in the game. The main difference between the SLP and AXS token is that it’s not a governance token. Hence, it’s not used to vote. The AXS token has a total supply of 270 million.

Enjin Coin (ENJ)

Enjin Coin is another metaverse token that you could look into. It’s an Ethereum-based token that seeks to make it easy for individuals, brands, and businesses to use NFTs. However, NFTs that are built with Enjin use the ERC-1155 standard, which is different from the commonly used ERC-721 standard.

NFTs minted within the Enjin environment are directly backed by ENJ. ENJ is the native currency used on the platform. Whenever a new NFT is produced on the network, a certain amount of ENJ is minted into the token. These locked funds are what give the newly built tokens real-world value.

Additionally, Enjin recently raised close to $19 million that will be used to build Polkadot-based blockchain for NFTs. ENJ token has a maximum supply of 1 billion tokens.

The Sandbox (SAND)

With a maximum supply of 3 billion, SAND is another token that should be on your metaverse radar. The Sandbox is a virtual world that, like most platforms on this guide, is built on the Ethereum blockchain.

On the platform, players are able to build, monetize, and own their gaming experience. The platform uses the SAND token, which is an ERC-20 utility token that is used for governance, staking, and transfers.

Star Atlas (ATLAS)

Star Atlas is a huge online multiplayer game that occurs in a virtual gaming metaverse. The game is built on Unreal Engine 5 and features real-time, cinema-quality environments.

In the game, there are three major factions that exist and are competing for control and resources. The game is also partly a flight simulation and also allows for role-playing.

The Star Atlas game is currently being built on the Solana blockchain and players will use the ATLAS tokens. ATLAS tokens will be the in-game currency that will be used to purchase assets as well as buy NFTs in the NFT marketplace. The ATLAS token has a maximum supply of 36 billion.

Metaverse Index (MVI)

The Metaverse Index (MVI) token is another interesting example of a metaverse token. Represented by an ERC20 token, the token is built to capture the trend of business, entertainment, and sport migrating to virtual worlds.

With the MVI token, owners are able to get exposure to a wide variety of tokens from various crypto projects that encompass sectors like online gaming, NFTs, and virtual worlds.

Think of the Metaverse Index token as a metaverse ETF but for the crypto markets. The Metaverse Index token has a maximum supply of 39,602 tokens.

Source: 7 Metaverse Tokens By Trust Wallet Blog

To buy any of these cryptocurrencies I suggest you use Binance.

Binance is a cryptocurrency exchange that is currently the largest exchange in the world in terms of the daily trading volume of cryptocurrencies.

Register by visiting this link: Binance

Science Fiction is slowly becoming non-fiction

These are the industries I believe will shape the future. Many in this list are already in use now. I’ll explain each at a later time. For now, have a nice day!

1. Bitcoin(BTC)

2. Ethereum(ETH)

3. Dogecoin(DOGE)

4. TetherUS(USDT)

5. Ripple(XRP)

Go check them out, especially with Dogecoin. Implement the HODL technique. This drop and rise so don’t be afraid and only invest money you don’t mind losing.

To buy these I suggest you try Binance using this link, you’ll get 5%: Binance

See you next time. Stay safe!