Last week I got a direct message on Twitter.
It was from former AFL player at Fremantle Dockers and now co-host of Sportsday WA radio show on 6PR Perth, Paul Hasleby.
He wanted to see if I’d be willing to speak with him and co-host Karl Langdon (also former AFL player, but for the West Coast Eagles) about cryptocurrency in sports.
I jumped at the chance. Any opportunity to speak to a wide audience about the truth behind cryptocurrency, and I’m there. Last Friday, 14 February, the discussion went live to their listeners. You can find the link to the full interview at the end of today’s essay.
The discussion arose because during the week, A-League side Perth Glory had agreed to sell a majority stake in the club to London Football Exchange (LFE). LFE is a blockchain and cryptocurrency based business that’s currently buying up stakes in football clubs around the world.
They’re looking to build a fully integrated football club exchange where people can buy and sell stakes in some of the world’s most well-known football clubs.
On top of this they’re looking to implement through these clubs blockchain-based systems for ticketing, fan engagement, merchandise, even food and drink at stadiums. And their network is built on the Stellar blockchain.
The move to acquire a big chunk of Perth Glory sent shockwaves through the football world, the crypto world, and even the traditional finance world. That’s because it opens up a whole new world of capital, tokenised assets, access to investment for the masses. It’s a huge change to traditional, fenced-off areas that people used to never even get a look into before.
But think about the potential for clubs to raise capital and even attract bigger valuations. If they can easily tokenise and sell parts of the club as real equity to their fanbase using blockchain technology, it’s a game changer.
That of course is just one exciting new development with crypto in sport. And over our 11-minute chat about crypto in sport, we went into these topics and much more.
The idea of crypto functioning in sport is new to a lot of people. But it’s just one area of potential that cryptocurrency and blockchain technology has.
And that’s why I believe it’s so important to open people’s eyes to the real story here. This crypto revolution, at its very heart, is a technology revolution. It challenges our very concept of long-standing ideas like money, assets, ownership, networks, and transactions and interactions with each other.
It’s not just about the price of bitcoin. It’s far more nuanced and complex.
Read this book before you step into crypto
That’s why before anyone starts on their journey into the crypto world, I tell them to clue up on the basics. To understand why it exists, where it comes from, what impact it had (has and will have) on the world.
But to find the right information is hard.
And that’s why I wrote a book back in 2016, Crypto Revolution: Bitcoin, Cryptocurrency and the Future of Money. The idea was to explain all the requisite knowledge needed in simple English for people to get started in cryptocurrency.
Of course, the crypto world moves at breakneck pace. And the Perth Glory and London Football Exchange deal is evidence of this.
And that’s why I’ve updated the book, fresh for 2020. With updated and relevant information, and exciting new chapters. It’s what I consider a must read if you’re at all interested in crypto.
And for that matter, if you want to get your hands on my new, updated book Crypto Revolution and get the inside track on three crypto I think are set to explode in value during the next crypto boom, I’d suggest tuning into a special broadcast coming at 1pm AEDT, today!
Without the whole picture you can’t appreciate the full value
After reading my book I believe you’ll have the foundation introduction to crypto needed to properly get going. In fact, I think that if you couldn’t be bothered reading the book and trying to understand crypto, then you probably shouldn’t even bother with crypto at all.
You wouldn’t tear off corner of a Keith Haring or Rembrandt or Banksy piece of art to admire its full beauty and value.
You’d want to have the whole picture to really understand its worth and value.
And when you see the whole picture that crypto now represents, I think you’ll be as excited about this massive wealth creation event as I am.
What also excites me about the future for crypto markets is the fact it’s not like the ‘traditional’ markets. Traditional ideas and ideals of the past don’t apply here. For example, Warren Buffett famously talks about companies he invests in as having economic moats.
It’s a competitive barrier that protects a company from threats, like the way a moat would work in medieval times against an invading army. Companies with great moats can see out an attack and remain strong and valuable.
But the crypto world isn’t about protection and moats. It’s about distributing information, sharing, connecting everyone into a large, healthy, thriving network. Your competitive advantage can be shared freely so that you build a better, stronger, more vibrant ecosystem.
This is the approach that Zcash, for example, takes. Its encryption trickery is now being adopted by other cryptocurrency networks. Has this open source approach killed Zcash? No, quite the opposite, it continues to thrive and develop as well.
Decentralisation and connecting the mass intelligence is a way to fuel success. It also helps add value and growth. And that’s a very polar view to the old-school crony capitalism ways.
Perhaps this is why Buffett is such an anti-crypto proponent. Perhaps that’s why so many traditional market ‘experts’ still don’t understand the cryptocurrency world.
That’s okay, because their opportunity lost is your potential opportunity to seize. And for me, I continue to operate in the crypto world to understand and impart my work with people like you who are ready to get involved too.
It’s why I head up a special crypto advisory service, Sam Volkering’s Secret Crypto Network, and it’s why I wrote my book, why I updated the same book. And it’s why I’ve put together this special presentation going live today for people like you to see.
If at the end of this you’re not convinced of the huge opportunity in crypto in front of you…well I’ll be very surprised. Keep an eye on your inboxes at 1pm today, to learn about the crypto resurgence and the new wave of wealth I believe is about to be created.
Also, if you want to hear my full interview on Sportsday WA talking crypto in sport, you can listen below.
Editor, Money Morning