95% of NFTs Are Worthless, is Ai Next? El Alfa Inks $70million Music Deal | Wealth Wednesday

The Latin Wealth

Welcome to a new weekly series we are launching on the Latin Wealth platform, Wealth Wednesday! On Wealth Wednesday, we will be discussing trending news, Latino culture and topics surrounding business, host by @chrisbelloso and @ricoramirez86.

On today's episode we discussed:

Your NFTs Are Actually Totally Worthless

• New report from industry researchers finds that 95 percent of the once-hyped crypto assets have hit rock-bottom valuation
• Upon analysis of 73,257 NFT collections, the authors found that 69,795 have a market cap of zero Ether (ETH),

https://www.rollingstone.com/culture/culture-news/nfts-worthless-researchers-find-1234828767/amp/

Why Ai and Ai stocks are not considered to be in a bubble

• The valuations of the stocks leading the market are not as stretched as in previous periods, such as the internet bubble that collapsed in 2000, and the companies have unusually strong balance sheets and returns on investment.
• We believe we are still in the relatively early stages of a new technology cycle that is likely to lead to further outperformance

https://www.goldmansachs.com/intelligence/pages/why-ai-stocks-arent-in-a-bubble.html

Dominican superstar rapper El Alfa inks multi-million-dollar deal with Sound Royalties

• Confirmation from El Alfa’s team, Complex reported that the deal was worth $70 million.
• Established in 2014, Sound Royalties provides royalty financing for music creators, independent labels, publishers, and distributors.
• The firm offers royalty advances of anywhere from $5,000 to tens of millions. It does this by advancing artist, producer and songwriter royalties paid through music labels, distributors, publishers
• Has helped big artist like Lil Wayne fund his projects in 2018

https://www.musicbusinessworldwide.com/el-alfa-inks-multi-million-dollar-deal-with-sound-royalties/

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