This Week in Crypto: Blockchain Adoption, NFTs and the Metaverse

August 31, 2021

Although many are returning back to work (or school) from summer vacations and other endeavours, we know blockchains have continued to evolve and crypto never sleeps. Here are some of the latest trends we would like to highlight for you from the past week.

Visa is further embracing blockchains by putting focus on NFTs and promising “new concepts and partnerships” that will support the NFT space. To symbolise their interest, Visa has purchased a CryptoPunk NFT for 49.5 ETH for its portfolio. Budweiser has joined Visa in obtaining non-fungible tokens (NFTs) and it seems the trend will continue with institutions not only creating (minting) their own but also investing in the HODL of NFTs as part of their portfolio.

Blockchain has achieved its goal of becoming mainstream! As reported by Cointelegraph, a new survey from Deloitte auditing firm polled finance executives and 81% of them agree that blockchain technology has achieved mainstream popularity. In addition, Blockchain and Crypto adoption is picking up steam! CNBC and Momentive published a new survey showing that 1 in 10 people in the U.S. are currently investing in cryptocurrency. 60% of those who invest are doing it for the long-term potential growth. These surveys only mark the beginning of further market adoption and yet unimagined use cases for crypto currencies.

Metaverse full of AI-Avatars? Alethea AI is doing it! After creating the first “intelligent NFT” or iNFT, Alethea AI has convinced investors like Crypto.com Capital, Mark Cuban and Dapper Labs, among others – to believe in the idea. Alethe has raised $16 million in funds with its private token sale. Alethea will introduce “talking, intelligent NFTs (iNFTs)” that will be able to learn and have “human-like conversations.” This seems right out of a scifi movie! What will NFTs and crypto do next?

By Ivan Dimov

Disclosures: Not investment advice. It should be assumed that Sarson Funds or its affiliated managers hold positions in all projects that are discussed. It is not possible to invest in any project directly through Sarson Funds, Inc. or its affiliated managers. Any investment product offered by managers affiliated with Sarson Funds should be assumed to be only available to Accredited Investors and subject to the individual terms and conditions of that offering including but not limited to those eligibility requirements associated with U.S. Securities Regulation D, section 506c. Talk with your financial advisor before making any investment decisions or have them contact Sarson Funds directly at info@sarsonfunds.com

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