🛍️ Don't Be Left Holding

This week I discuss opportunities with newsletters and ENS domains, and why I'm not holding an NFT bag right now

Hey there 👋,

In this week’s newsletter, I discuss:

  • A newsletter arbitrage play

  • Not getting left holding an NFT bag

  • Waiting for an entry on ENS domains

But first up a poll.

In this high inflation, rising interest rate, recessionary environment…

Which digital asset are you most bullish on right now?

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INVESTING IN ONLINE BUSINESS

Newsletter Arbitrage

Beehiiv just announced that they have partnered with Slingshot to supercharge newsletter referrals, and I’ll definitely be integrating some great swag as rewards for this newsletter:

As Beehiiv continues to build out market-leading functionality, I can see more and more newsletter acquisition arbitrage plays.

Buy newsletters that are on less advanced platforms such as (dare I now say) Substack, like this one on Duuce, move the list and content across to Beehiiv and tap into the growth features to boost revenue.

Then continue to run the newsletter as a separate business, or move as many subscribers over to your core newsletter through one-click magic links and then flip the asset for a profit.

ps last chance to get my The Newsletter Is The Business product at the $97 prelaunch price, it’s going up to $247 when launches next week, join 40 other savvy customers who have picked it up:

Pick Your Operators

WebStreet, (formerly Empire Flippers Capital) Round 5 is currently open to new investors but is filling up quickly with over $3M raised. It enables investors to build diversified and passive portfolios of online businesses. The first year of data is in for Round 1 and investor cash has yielded 14.6% over the last twelve months.

INVESTING IN NFTS

Proof of Implosion

It continues to be a terrible time to hold NFTs with floor prices of almost all collections dropping:

I’ve sold all NFTs that I don’t consider core assets (long-term holds and ones I’m using to market projects, such as Lazy Domains), including a Checks-VV Edition today.

The Fed is expected to continue to raise rates at their meeting today, despite the banking turmoil which has boosted crypto prices - this increase will likely continue to hurt NFT floor prices.

But if the Fed does not raise rates or is overly dovish, then the price of ETH will likely continue on its run, and NFT floor prices can get whacked that way too.

Really does feel like a lose-lose situation for NFTs right now, especially Proof assets:

I published what’s been happening to Proof last week here:

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INVESTING IN DOMAINS

Waiting on .ETH Renewals

The price of Ethereum Name Service (ENS) domains have also been dropping. The floor of the 10K club (i.e. 4 digit .eth domains 0000-9999) is now 0.75ETH vs over 3ETH six months ago:

And I think we are going to see a much more dramatic reduction next month as renewals hit the market for the first time.

The 10K club was created (minted out) at the end of April of last year as you can see in the expiry dates of the floor names here:

And if we look up one of those names above 4166.eth on ENS.domains you can see that they cost 0.089ETH ($160) to renew for a year which is 11% of its price.

I think a lot of people will choose not to pay the renewal and look to floor their names at lower prices. Or will simply forget to renew.

I’ll be watching the price action to look for a good entry.

🔍 Community Spotlight

I recently connected with Danny V who is super knowledgeable in the world of wealth building and personal finance. His newsletter Wealth2 is a goldmine of information:

Wealth² NewsletterBuy Cash Flow • Build Passive Income • Diversify Your Net Worth

Ok, that’s it from me, until next week, be well and share this newsletter to get my referral rewards:

Cheers!

Richard Patey - @richardpatey

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Disclaimer: Nothing in this email is financial advice and I am not a professional investment adviser. I send weekly updates on digital asset news and what I'm doing personally - consider it informational and for entertainment purposes only. This newsletter is monetized through sponsorship and affiliate revenue.

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