What are NFTs and should I be investing in them?

If you’ve been browsing the internet trends in 2021 you might have noticed the term NFTs being tossed around left and right. A lot of people seem to be going crazy about it, and it also looks pretty expensive.

So, you might wonder what exactly are NFTs and if you are already missing out on giant monetary potential. No worries, here we will give an explanation on NFTs and why some of them are worth so much. We’ll talk about the pros and cons, and provide you with enough information to decide if you should be buying these digital goodies.

What are NFTs?

NTF stands for a non-fungible token, and what it basically means is that the token is not interchangeable. In economics, we have currency like $1, $5, or $10 and these are all interchangeable, you can change 5 one-dollar bills for one five-dollar bill. NFT means it has a unique value on its own, like a painting of the Mona Lisa. Meaning if you can produce a near-perfect replica it still wouldn’t have the same value.

These NFTs are used for digital goods and allow people to own the assets like the first tweet ever made, a video of James LeBron dunking, or the original Grumpy Cat meme. This does not necessarily prevent people from copying or altering the original, but you can still hold the rights for the first and the original version of the content made. It might look strange to older generations but for digital natives, this seems to be a growing trend and there is a lot of money going around for buying and selling NFTs.

NFTs and Cryptocurrencies

You might have also seen that NFTs are being compared to cryptocurrencies, and there is truth to that. They basically both works on blockchain technology, and the whole NFT trend started as a blockchain collectible game. Here you could breed cats and each cat was unique in its own way, much like digital art. By using blockchain an owner of a particular NFT has a confirmation that he is indeed the owner, as it’s confirmed on multiple ledgers, much like the ownership of cryptocurrencies.

However, cryptocurrencies have their own system of value and they are interchangeable. Some of them even have higher utility as businesses accept them as a payment method. Nowadays they are often used in online casinos as you can fund a real money account via bitcoin. British players who play at fast withdrawal casino in UK can both make a deposit and withdraw money fast using cryptos. So, these instant payout platforms are what increase utility and value by extension of digital currencies.

Problems with NFTs

So far this looks like it’s another hobby for the rich. It’s basically an act of randomly assigning monetary value to things on the internet. As a result, you don’t know whether you’ll get your money’s worth by investing. People who buy it do so because they want to own that thing not necessarily re-sell it. Given how it’s mostly a thing of prestige you would have to gauge whether you’ll have a big customer base for a specific NFT before you purchase it if you wish to resell it.

Another problem is power consumption. Mainly that so long as we continue to fuel this trend we are likely saying that we are okay with all the power it takes to maintain it. Right now blockchain requires massive computing power and that creates issues. To put this into perspective bitcoin uses 240 kilowatt-hours of electricity per transaction, which means the whole network is using as much power as the whole nation of Serbia. Given all the eco-friendly initiatives this might grow into a bigger problem unless they make necessary adjustments on the supply side.

Finally, this is just another trend so it’s hard to say how things will play out. It’s likely that it’s just another bubble that will burst in a few years like dot-com. On the other hand, the fear of missing out is real, and for all, you know you are losing money by ignoring the trend.

Conclusion

Hopefully, this was all insightful enough for you to decide whether to start buying NFTs or not. If you decide to do so, stick to the things you know and that you strongly believe will have value in a certain community. This way you might not mind if you only end up owning something you genuinely love.

Ebony Smithson Alexander is a professional writer who works as a content strategist. She covers topics related to the iGaming industry, gaming, and tech. Leslie loves to explore new gambling platforms, play League of Legends and organize poker nights with her close friends and co-workers.

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How small businesses can save on taxes with Biden’s COVID-19 relief programs

The COVID-19 crisis has hit many US small businesses hard, but with an estimated $5 trillion being set aside for financial relief schemes, no one has to struggle through the coming months alone.

Under Joe Biden’s leadership, the government stimulus programs have focused on tax breaks for the year 2021, but there are other sources of funding that can deliver additional support when it’s needed. Along with these smaller county resources, five federal schemes are open to small businesses across the US. Not all companies will be eligible for every scheme, so take the time to review what you’ve spent over the lockdown period and find out whether you can make a claim.

The carryback of losses scheme

A tax benefit born as part of the Cares Act, this scheme is aimed at companies that made a loss in 2018, 2019 or 2020. It represents a huge change in standard tax rules and is a one-time-only offer allowing employers to carry back losses they have experienced. Essentially, companies that have previously paid tax can use their losses to reduce the amount they owe in 2021 and many could be due money back. Businesses that have recorded a loss in any of the qualifying years should act fast to be included in the refunding process. Once a corporate return is filed, it could be around six weeks until the funds are released. To maintain a beneficial tax rate in future, speak to the experts at Capital Preservation Services. They assist employers with financial planning and suggest legal tax strategies to significantly lower your annual bill.

Families First Coronavirus Response Act tax relief

Recently amended as part of the Tax Relief Act of 2020, the Families First Coronavirus Response Act gives small to medium-sized businesses another way of recouping losses related to COVID-19. This tax credit is designed to cover the costs of employee sick pay and family leave when it has been taken as a result of the pandemic. The refund matches exactly what employers were obliged to pay out to comply with the initial FFCRA. Staff were able to take up to 80 hours of paid time off to care for others, or themselves. Business owners can claim a rebate on their payroll tax return depending on what they had to payout. This credit is available until September 2021, although compliance with the FFCRA is voluntary.

Continuation of Health Coverage tax credit

Created as part of many new stimulus plans, COBRA or the Continuation of Health Coverage is a federal law that provides employers with tax credits for the health plans of their employees. Currently, employers must enroll staff in their corporate plan when they have lost their health plan or a group health plan because of a reduction in their working hours or losing their job. This is to ensure people still have access to healthcare insurance when they are no longer working due to COVID-19. Employers will be able to claim during the six months between April and September 2021, assuming they support previous employees by covering their health insurance premiums. Business owners can find out more and claim by speaking with their designated COBRA administrators.

Work Opportunity tax credit provisions

Just like choosing when to invest cash, choosing when to invest in new employees is a big step. However, as the economy moves into a more stable position, a new tax credit delivered to companies that are hiring is being extended until 2025. The Work Opportunity tax credit provides a credit on the tax of employers who hire a person who was on welfare or unemployed for over six months or is a veteran.

Employee Retention tax credits

Employee Retention Credit or ERC encourages business owners to hang on to their team for the duration of the pandemic and can be claimed until December 31st 2021. The tax credit matches up to 70% of wages paid to employees and the maximum that can be claimed for each employee is $28,000, or $7,000 per quarter. The first step toward making a claim is proving your eligibility. These credits are available to companies that have been forced to close entirely or partially, or those which have seen their revenue decline by over 20% in the quarter they are claiming for – compared to the same quarter in 2019. If the amount that can be claimed is larger than the tax owed, the business will be reimbursed in cash.

Small businesses have not been left high and dry by the Biden administration, but if you’ve been affected by the ongoing pandemic, you’ll need to be proactive in seeking help. Many of these tax breaks and cashback schemes have a limited shelf life, so start researching what’s available soon or speak with your tax advisor for more information.

 

 

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Here are a four important items to consider before investing your hard-earned money

If you truly want to create lasting wealth, investing is the way to go. Unfortunately, even parents and schools that are good about teaching skills for personal finance often don’t show you how to do this. No matter if you’re investing in the stock market or mutual funds or currencies or certificate of deposits or permanent life insurance; some of it much more complicated but all it requires research and serious consideration. 

So before you even get started, you need to think long and hard about your resources and the approach you want to take. The four investing points below all need consideration before you move forward on how to best-invest your hard-earned money.

Review Your Financial Situation

First, you need to organize your finances. Investing can be both fun and lucrative, but it might not make sense if you are paying more in interest on debts than you will earn on your investments. The sensible thing in that situation is to pay off the debts first or get lower interest rates on the existing balance. For example, if you are paying off student loans, you can find out in just two minutes if you are eligible for lower rates. This can also cut years off what you owe. You can use the money that you save to put toward investments. You should also have an emergency fund before you start, with enough to cover at least three months of expenses.

Time and Interest

You need to consider how hands-on you want to be. This is a function of how much time and energy you have and how much you want to learn. There’s nothing wrong with approaching investing passively, putting your money in funds and largely allowing it to do its thing. This would be the case with mutual or index funds. You could also have a robo-advisor select a strategy for you. You probably won’t get super-rich taking the passive approach, but you can do very well. On the other hand, if you have the passion to do the research, you could make a huge amount of money if you become more active.

Budget and Risk Tolerance

Whether you have $100, $10,000, or even more, will it affect the kind of investments you can make? There is actually a lot you can do with $100, but some approaches will require larger minimums. Whatever you decide on, it should be money you can afford to lose or at least not have access to for a certain period of time. This is where your risk tolerance comes in. When assessing your appetite for risk, consider your age and your aim as well. If you are older and hoping to boost your retirement savings, you may not want to be too risky because you have less time to recover from setbacks. On the other hand, you also have less time to watch your money grow, so if you’ve got some cash to spare, you may want to throw it to risky prospects and see what sticks.

 

Professional Help

These days, going online makes it easy to get started with needing a professional, especially since you can use a robo-advisor. However, just for peace of mind and to better understand various strategies and the landscape ahead of you, you might feel better if you meet with a professional to discuss your goals. Friends and families may be able to provide recommendations.

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The 7 key benefits of taking out payday loans in Ontario

Sometimes, you may find yourself in need of a loan for personal reasons. For instance, you might want to take a holiday to some amazing places or visit unusual cities worth seeing in your lifetime. Or maybe you suddenly need to have a medical procedure done ASAP, but you lack sufficient funds in your bank account.  Continue reading “The 7 key benefits of taking out payday loans in Ontario”

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How online casino VIP programs are setting trends In business

It’s no secret that customers love special treatment and individual attention. It makes sense that they also like being treated like kings. Gamblers and casino customers are no difference.

Players love to be showered in presents and attention, and as the research by Casino Hex says online casino bonuses are the best thing a player can receive. And VIPs receive them by the dozen all the time, that what makes them come back to the same land-based or online casino venues time and time again.

I’m not saying that casinos started the trend, but they keep it at it’s fullest. They know exactly what to give to their VIP customers and how to create the atmosphere around them to make them come back again and not once. And every company wants this type of success and loyalty.

How profitable are the VIP programs for business in general?

There’s a statement that we like, and it’s “Those who join your VIP program are worth more.” You set a task to push your clients to move from one tier to another one – they will inevitably become more loyal and committed to your company and brand. They will gain more value with every new purchase.

You can benefit from creating a VIP program as your clients can stay with you for a very long time. There’s a high chance to see returning clients – about 45% of VIP customers will make one more purchase. The more they buy, the more they get.

How will your profit increase? Let’s imagine a customer that goes through the VIP tiers and makes some purchases. The frequency of such purchases and the average order value are growing. VIP customers are likely to spend more than average clients. Experts state that you can expect them to bring you more profit up to 5 times.

How do VIP programs influence customers?

It’s not a secret that people tend to be better than their friends, relatives, colleagues, and others. VIP programs can give them a better social status. Let’s remember the mid-west Tribal casino, they had too many elite players, so many that the elite status lost its glory and this is how they came up with “above and beyond” status. And who doesn’t want to be on that level? They get the exclusive experience that a more significant part of your clients doesn’t receive. You will let your clients enhance the feeling of self-satisfaction, and it will make them come back to you in the future.

You can create the names for each tier that you have. Your clients will see that their status will change after making some actions and achieving some specific results. You can motivate your clients to achieve new levels and create attractive customer journeys. The upgrade of social status will attract people and stay with your brand for a long time.

What makes an excellent VIP program?

We consider two things to be the most important when creating a VIP program. The first is preventing or overcoming the client’s frustration and the second one is adding the things that will improve customer experience and make them feel engaged. These issues are not complicated to implement in the business processes.

You should prepare your clients to become members of a VIP program. If you run an online business, it can be an email with the information about the VIP program and its benefits. You can grant your current customers with a new status for a while for testing this idea. If you run an offline business, you can offer a VIP parking lot or something like that.

If you organize any events, you can think of comfortable conditions for the kids of your clients. There might be a babysitter that will take care of them. It can be free alcohol for VIP clients or any other perks that will surely make everyone feel pleased.

To improve the experience, you can offer your clients to become members of a community. You should provide some privileges for the member of such a club and remain a high level of services all the time. Your goal is to make people enjoy staying with you, have no problems with making a purchase, and solve all of the issues in no time.

The bottom line for VIPs

As the casino industry proved, creating VIP programs is good for business as it attracts people; you can make them spend more money and come back to you in the future. You can give your clients a new social status, unique privileges, and positive experience while staying with you and your company.

Your product or services can be of high quality, and there should be something more than you can offer. Personal communication, comfortable conditions, self-satisfaction, and great experience, in general, will increase your revenue and turn one-time buyers into regular customers.

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Could gambling be a legitimate alternative to the traditional ways of making money online?

Online gambling is becoming very popular in the last few years due to the ultimate convenience it provides. You can enjoy casino games in your home, on your phone; wherever your comfort zone is. Continue reading “Could gambling be a legitimate alternative to the traditional ways of making money online?”

PayPal sucks, raises foreign currency conversion fees from 3.25% to 3.75%

In the fall of 2019, PayPal increased their currency conversion fees, hiding the new terms in a user agreement update.

Before September, there was a fee on currency conversions, which was 3.25% to 3.75% for cross-currency payments, and 2.5% to 3.75% for simple balance conversions. Continue reading “PayPal sucks, raises foreign currency conversion fees from 3.25% to 3.75%”

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How imposing screen time limitations saves you time, money and your health

Save Money by Limiting Your Screen Time  

“Stop smartphone addiction — limit your screen time”

We hear these words too often in the era of digital technology when smartphones are literally stuck to our hands. Since we can’t help it, time waste issue is apparent. Continue reading “How imposing screen time limitations saves you time, money and your health”

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Counterpoint: 10 reasons why buying a condo or co-op is a good investment (vs. renting)

I’ve read a handful of articles in the last few years around the idea that buying a condo/co-op isn’t a sound investment mostly based on a few rationales that it’s not a true investment; that it’s not liquid and doesn’t pay you money every month. Continue reading “Counterpoint: 10 reasons why buying a condo or co-op is a good investment (vs. renting)”

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Freemium Gaming: What mobile games like Candy Crush and online slots have in common

Source: Candy Crush Saga via Facebook 

Freemium gaming is a fairly recent phenomenon, a way of marketing games that has risen to prominence during the smartphone era. In simple terms, it is a pricing strategy that allows the user to download a game for free. Continue reading “Freemium Gaming: What mobile games like Candy Crush and online slots have in common”

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‘Lucky Dragon Hotel & Casino’ is first Vegas casino to cater to Chinese gamblers

Being Chinese-American, I’ve always noticed that family of Chinese friends of the family had an affinity for gambling. Continue reading “‘Lucky Dragon Hotel & Casino’ is first Vegas casino to cater to Chinese gamblers”

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The 34 times Jeopardy players have won the most money in one day

With players like James Holzhauer and Austin Rogers lighting up the Jeopardy! scoreboard with their gutty wages and record-setting single-day winnings, we were curious about the which contestants have took home the most money in one day of the popular trivia game show. Continue reading “The 34 times Jeopardy players have won the most money in one day”

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For a limited time, ClassPass offering 20% discount off 10-class plan

For a limited time, ClassPass is offering one of their best long term promotions — a fall sale that dangles 20% off off their standard 10 class plan for six months! Continue reading “For a limited time, ClassPass offering 20% discount off 10-class plan”

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Will Zara have a Labor Day sale this September?

The summer is winding down quickly with the fall coming fast. This year, the last day of summer will be in three weeks — that gets us thinking about warmer fashions and muted color palettes. That gets us thinking about shopping Continue reading “Will Zara have a Labor Day sale this September?”

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AMC Theatres announces HUGE discounts on movie tickets every Tuesday

Get matinee pricing at AMC every Tuesday through October via their new promotion. In a move to improve their slowest days, AMC Theatres are dropping their ticket prices on Tuesdays to just $5. Continue reading “AMC Theatres announces HUGE discounts on movie tickets every Tuesday”

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The promo code for ‘&Pizza’ (andpizza) for $5 off a pizza with unlimited toppings

Wow, I went to &pizza for the first time last night and was amazed by their custom, fast casual pizza concept (but was less impressed by their ampersand naming). Continue reading “The promo code for ‘&Pizza’ (andpizza) for $5 off a pizza with unlimited toppings”

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Source confirms Zara ’17 Spring/Summer sale date is June 16th (Corrected)


UPDATE 06/16/2017: Our apologies, Zara didn’t start their Spring/Summer sale today in the United States. We should have checked up on our source thoroughly (but in our defense — why would they lie?!) We’ve been duped again! We will update this post and others to reflect any new info. – Ed. Continue reading “Source confirms Zara ’17 Spring/Summer sale date is June 16th (Corrected)”

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The Hale and Hearty promo code good for $2 discount off soup (2017)

Hale and Hearty: Let Them Have Soup If you’ve spent anytime in New York City the last few years then you’ve definitely seen an influx of fast casual restaurants pop up around the city. Continue reading “The Hale and Hearty promo code good for $2 discount off soup (2017)”

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Here’s a Dig Inn promo code for $5 off your next meal at DIG

Over the years, it’s been interesting to see what is and was considered healthy. Continue reading “Here’s a Dig Inn promo code for $5 off your next meal at DIG”

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The Liquiteria promo code and good for $2 discount off juices (2018)

If you’ve spent anytime in New York City the last few years then you’ve definitely seen many of the juice bars that have popped up, and continue to pop up, all around the city. Continue reading “The Liquiteria promo code and good for $2 discount off juices (2018)”

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Review: Why I love using the TodayTix app to get Broadway tickets

Flat out, TodayTix is an awesome app for theatergoers and Broadway fanatics. Their user interface is easy to navigate and makes browsing for shows and purchasing tickets simple. Continue reading “Review: Why I love using the TodayTix app to get Broadway tickets”

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