Cryptos and NFTs: Adidas news is ‘probably a big thing’ [Video]
|The latest news from Adidas is shaking the crypto headlines since Adidas Originals tweeted that they partner up with Coinbase to accept payments in cryptocurrencies. This is actually a proof of an increased adoption of the cryptocurrencies by traditional companies.
If this is ‘probably nothing’, the SandBox partnership is something big, as the NFTs are about to become the next advertisement tool and the potential is huge because the digital ads market is huge!
In traditional market news, the market mood is rather ok-ish after the FOMC minutes, although Federal Reserve (Fed) minutes showed that the US policymakers are now considering a faster QE taper and an earlier interest rate hike if inflation continues running higher.
The US 2-year yield continues pushing higher on rising expectations of a tighter Fed policy, but appetite in US equities is not much hit. Nasdaq, which is supposed to be the most sensitive to higher rates closed yesterday’s session higher than the other major US indices, while gold slipped below the $1800 per ounce as the rising yields increase the opportunity cost of holding the non-interest-bearing gold, at a time when the risk rally promises bigger returns to investors who invest in, well, risky assets.
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