Introduction
The National Hockey League (NHL), along with the NHL Players’ Association and the NHL Alumni Association, has joined forces with Sweet, a non-fungible token (NFT) firm, to introduce NHL Breakaway. This innovative digital collectibles platform allows fans from all around the world to collect, trade, gift, and showcase highlights and significant moments from NHL history.
A New Phase in Sports Digital Collectibles
NHL Breakaway, developed in collaboration with Sweet and the NHL, marks a new chapter in the realm of sports digital collectibles. By utilizing the vast highlight archives of the hockey league, Sweet has created an immersive experience for users.
Unique Features of NHL Breakaway
The platform offers fans the opportunity to acquire packs that contain highlights, packaged in a unique manner with multiple camera angles and authentic sounds of the game. Sweet's CEO, Tom Mizzone, expressed his excitement about the partnership, stating, "In this groundbreaking collaboration, we are not only launching a platform, but we are also creating a new era where gamified and social digital collectibles serve as a bridge to unforgettable experiences in the sport you love."
The Appeal of NHL Breakaway
The introduction of NHL NFTs comes at a time when NFT sales have experienced a significant decline over the past year. However, similar initiatives have been successful in other sports leagues, such as Major League Baseball (MLB) and the National Basketball Association (NBA). NHL Executive Vice President David Lehanski highlighted NHL Breakaway's "compelling graphics" and authentic sounds, emphasizing that they can transport collectors into NHL arenas.
NFTs and Enriching the Fan Experience
NFTs associated with sports leagues have shown promising performance, as seen in successful collections like Dapper Labs' NFL All Day and NBA Top Shot. These platforms aim to enhance the fan experience by combining NFT technology with immersive sports experiences. Sweet, the NFT company behind NHL Breakaway, has also partnered with renowned brands such as Dave & Busters, the Clemson Tigers, and Burger King.
What are your thoughts on the NHL's venture into NFTs? Share your opinions and insights in the comments section below.
Frequently Asked Questions
What is the best precious-metal to invest?
This depends on what risk you are willing take and what kind of return you desire. Although gold has been considered a safe investment, it is not always the most lucrative. Gold may not be right for you if you want quick profits. You should invest in silver if you have the patience and time.
If you're not looking to make quick money, gold is probably your best choice. If you are looking for a long-term investment that will provide steady returns, silver may be a better choice.
How do I open a Precious Metal IRA
First, you must decide if your Individual Retirement Account (IRA) is what you want. To open the account, complete Form 8606. Then you must fill out Form 5204 to determine what type of IRA you are eligible for. This form should be filled within 60 calendar days of opening the account. You can then start investing once you have this completed. You might also be able to contribute directly from the paycheck through payroll deduction.
For a Roth IRA you will need to complete Form 8903. Otherwise, the process will look identical to an existing IRA.
To qualify for a precious-metals IRA, you'll need to meet some requirements. You must be at least 18 years of age and have earned income to qualify for a precious metals IRA. Your annual earnings cannot exceed $110,000 ($220,000 if you are married and file jointly) for any tax year. Additionally, you must make regular contributions. These rules are applicable whether you contribute through your employer or directly from the paychecks.
You can use a precious-metals IRA to purchase gold, silver and palladium. You can only purchase bullion in physical form. This means that you will not be allowed to trade shares or bonds.
To invest directly in precious metals companies, you can also use precious metals IRA. Some IRA providers offer this option.
However, investing in precious metals via an IRA has two serious drawbacks. First, they don't have the same liquidity as stocks or bonds. It is therefore harder to sell them when required. Second, they are not able to generate dividends as stocks and bonds. Also, they don't generate dividends like stocks and bonds. You will eventually lose money rather than make it.
Are You Ready to Invest in Gold?
This will depend on how much money and whether you were able to invest in gold at the time that you started saving. If you're unsure about which option to choose then consider investing in both.
Gold offers potential returns and is therefore a safe investment. It's a great investment for retirees.
While most investments offer fixed rates of return, gold tends to fluctuate. This causes its value to fluctuate over time.
However, it doesn't necessarily mean that you shouldn't invest your money in gold. It just means that you need to factor in fluctuations to your overall portfolio.
Another benefit to gold is its tangible value. Gold is much easier to store than bonds and stocks. It can also be transported.
Your gold will always be accessible as long you keep it in a safe place. Physical gold is not subject to storage fees.
Investing in gold can help protect against inflation. Because gold prices tend to rise along with other commodities, it's a good way to hedge against rising costs.
Additionally, it will be a benefit to have some of your savings invested into something that won't lose value. Gold usually rises when the stock market falls.
You can also sell gold anytime you like by investing in it. Like stocks, you can sell your position anytime you need cash. You don't have to wait for retirement.
If you do decide to invest in gold, make sure to diversify your holdings. Don't place all your eggs in the same basket.
Don't buy too many at once. Start with a few ounces. Next, add more as required.
Don't expect to be rich overnight. Rather, it's to build up enough wealth so you won't need to rely on Social Security benefits.
Although gold might not be the right investment for everyone it could make a great addition in any retirement plan.
Is the government allowed to take your gold
The government cannot take your gold because you own it. It is yours because you worked hard for it. It belongs to your. There may be exceptions to this rule. You can lose your gold if you have been convicted for fraud against the federal governments. Additionally, your precious metals may be forfeited if you owe the IRS taxes. However, even if taxes are not paid, gold is still your property.
Statistics
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
External Links
irs.gov
forbes.com
- Gold IRA: Add Some Sparkle To Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
bbb.org
cftc.gov
How To
Investing with gold or stocks
Gold investing as an investment vehicle can seem extremely risky these days. This is because many people believe that gold investment is no longer profitable. This belief is based on the fact that gold prices are being driven down by global economic conditions. People believe that investing in gold would result in them losing money. In reality, however, there are still significant benefits that you can get when investing in gold. Below we'll look at some of them.
Gold is the oldest known form of currency. There are records of its use going back thousands of years. It has been used as a store for value by people all over the globe. It's still used by countries like South Africa as a method of payment.
When deciding whether to invest in gold, the first thing you need to do is to decide what price per gram you are willing to pay. You must determine how much gold bullion you can afford per gram before you consider buying it. If you don't know your current market rate, you could always contact a local jeweler and ask them what they think the price is.
Noting that gold prices have fallen in recent years, it is worth noting that the cost to produce gold has gone up. So while the price of gold has declined, production costs haven't changed.
Another thing to remember when thinking about whether or not you should buy gold is the amount of gold you plan on purchasing. If you intend to only purchase enough gold to cover your wedding rings it may be a smart decision to not buy any gold. If you plan to do so as long-term investments, it is worth looking into. Profitable gold can be sold at a lower price than it was when you bought it.
We hope this article has given you an improved understanding of gold investment tools. We recommend that you investigate all options before making any major decisions. Only then will you be able to make an informed decision.
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By: Jamie Redman
Title: The NHL Collaborates with Sweet to Launch NHL Breakaway, a Digital Collectibles Platform
Sourced From: news.bitcoin.com/nhl-dives-into-nft-market-with-breakaway-platform-amidst-shifting-digital-collectible-trends/
Published Date: Wed, 15 Nov 2023 22:30:15 +0000
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