- Real Vision CEO Raoul Pal says he has made an investment in “utter insanity” because it’s going to be a part of the next big trend.
- Macro Expert revealed in a blog post that he has entered the NFT market with his purchase of Yuga Labs’ Bored Ape Yacht Club (BAYC) NFT collection.
- Pal is the ardent believer that social tokens are the future and will eventually get integrated into different facets of the social and economic part of society.
Raoul Pal, the co-founder of Real Vision and macro expert, reveals that he is investing in some assets that he describes as “utter insanity” since they are going to be a part of the next big trend.
The former Goldman Sachs executive notes in the latest blog post that with his purchase of a Bored Ape, he has entered into the non-fungible token or NFT market.
Pal believes NFTs such as the Bored Ape Yacht Club (BAYC) collection, created by Yuga Labs, is a beginning of a new trend of social tokens, or crypto assets that are the representation of shares in communities.
According to Pal, social tokens are the future. Social graphs are created starting with communities (the Thousand True Fans model). He reveals that the potential social token around BAYC is what got him attracted to the collection.
The Real Vision CEO further says that eventually the social tokens will get blended into different societal and economical aspects of the society. Moreover, Pal says that Bitcoin can also be deduced as a social token, however including different features and a different community.
The macro expert goes on to say that social tokens are Universal Basic Equity and the future of different aspects of society such as municipalities and charities, culture and community, and business models and economies. He says at last Bitcoin is a social token that has unique features and all these social tokens are working for different models of digital sovereign states, which is where the world is heading.
He then describes social tokens as a “get rich slowly” scheme rather than a “get-rich-quick” scheme, in case the community develops a utility that has a long-term value.
He explains that developers can create value over time if they “build utility, a vibrant, growing community and some quantifiable scarcity” allowing everybody to participate either by providing value to the community and being rewarded in tokens or through investing in the utility token (as deferred future utility). “The brand or creator is on an equal footing. All incentives are aligned,” Pal adds.
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The post What Are These “Utter Insanity” Assets That Macro Expert Raoul Pal Believes The Next Big Thing? appeared first on The Coin Republic: Cryptocurrency , Bitcoin, Ethereum & Blockchain News.
Source: https://www.thecoinrepublic.com/2022/03/28/what-are-these-utter-insanity-assets-that-macro-expert-raoul-pal-believes-the-next-big-thing/