Sunday Reads – Here Comes Crypto …Again

Good morning.

Morgan Housel has a good piece out on investing titled ‘How People Think‘ which is important given today’s post. Have a quick read.

I am in a lot of Telegram rooms dedicated to crypto because Social Leverage has been allocating capital to crypto venture funds.

A lot of the technical banter goes right over my head, but I am starting to read about more apps and products that I would use myself.

The other day in the 6th man Ventures Telegram they were talking about a fitness app called ‘Stepn‘ and it immediately made sense to me.

Here is their ‘Litepaper‘. The gist:

All this makes me wonder why Nike and the other fitness companies have not yet offered products for the metaverse that work like ‘Stepn’, but maybe they will now that they see this working.

What makes all this so extra cool is that ‘Stepn’ is already trading on the exchanges. The early users and adopters and people in the community can own the tokens.

In the month that it has started trading the ‘green metaverse’ token has gone from 15 cents to $2.60.

I have no idea how to value these type of coins/communities/ecosystems, but this is the new financial and digital world we are living in right now and I am trying to take part in it.

At minimum, I completely understand why a whole generation of investors has moved over to crypto.