Elon Musk the tweeting billionaire, co-founder of SpaceX, former CEO of TESLA, and father of X ᴁ A-12 added $140 billion to his net worth in the year 2020. He had started the year with $30billion dollars, his net value surged to a whopping $167 billion. He surpassed Amazon CEO, Jeff Bezos to become the richest man in the world at some point.
Here is a revolutionist, pushing star wars ideas, space exploration, and electric cars to investors; sounds crazy, but enough to make him that rich within a short space of time especially when there was an economic downturn and a worldwide pandemic.
Elon Musk has been actively involved in the cryptocurrency surge most especially from his aggressive endorsements via tweets and acquiring more Bitcoins & dogecoin. Bitcoin sits at a market cap of $1 trillion dollars.
Why the emphasis on SpaceX co-founder? The take-home lesson is in the concept of revolutionary ideas. More wealth has been created in the 21st century since human existence and how could it have been possible.
Here are 5 ways to make your $1 worth over $1million dollars!
NON FUNGIBLE TOKENS (NFT)
Recently Jack Dorsey, Co-founder, and CEO of Twitter sold his first tweet for $2.5 million dollars, wow! His first tweet was on March 6, 2006 — the first tweet on Twitter. The highest ever sold NFT was an artwork, “first 5000 days”. It was purchased for $69million dollars, making it the most expensive artwork ever sold by a living artist; within a day of being auctioned off in the NFT auction market, its price rose from $100 to $1million dollars. Eventually settling at $69.3million dollars — record-breaking!
What then is NFT? — This is a unique digital file (digital art, video game items, music, tweets, memes…..anything digital) that is stored on the blockchain.
Yeah! Memes too can be worth over a million dollars.
It is non-fungible because it cannot be mutually interchanged. This allows for digital items to be commoditized. An IG post can be auctioned on the NFT auction market, thereby creating a copy of the file, which is then recorded as an NFT on the digital ledger. This can then be bought with cryptocurrency and resold. Cryptocurrency is fast becoming an acceptable and globally recognized means of exchange — dubbed the future currency, NFT provides a great opportunity to sell practically anything digital to those who see the value in the item.
CRYPTOCURRENCIES/DIGITAL TOKENS
A digital currency with a public ledger (blockchain), requiring codes for confirmation of transactions to recent environmental implications on mining of these coins, all started with correspondent emails from the creator of the first-ever crypto (Bitcoin) — Satoshi Nakamoto.
Cryptocurrency is a broad name for digital currency, some coins sell for less than $1 presently, acquiring and holding these coins could make you X1000 wealthier a few years down the line. You can never go wrong in purchasing value-added assets like crypto, but beware of the Ponzi scheme! Cryptocurrency Ponzi schemes are quite common, due to the disinformation out there and the get rich quick mentality of some investors.
EQUITY CROWDFUNDING SITES
Crowdfunding has become synonymous with non-profit or charitable deeds, in reality, it’s far from that. Small donations from a large number of people with the aim of reaching a financial target are what crowdfunding is all about. Social media have been a huge catalyst for crowdfunds lately. A simple IG post or tweet could generate as many impressions as possible, imagine if a quarter of those impressions lead to donations, hence the reason for crowdfunding.
Funds have become a major determinant in the growth of start-ups, equity-based crowdfund sites are the go-to resource for such. You can invest in a start-up with $1 and get a percentage of the company’s equity. Eventually, when this company goes live on IPO, your $1 investment could be worth over $1million dollars. Quite a number of start-ups are fast adopting this method of funding. Over £1.1 billion had been raised by SeedInvest, one of the equity crowdfunding sites.
PEER TO PEER LENDING SITES
Quite different from borrowing from financial institutions or online lenders. It connects the borrowers directly to investors (creditors). It’s a unique way of putting your funds to work in a low-risk industry. Loans offered range from short to medium term, annualized rate varies depending on the sites. A credit score is assessed and your funds can be invested into various loans with different ROI
Technology is making most big corporations obsolete, fast-rising platforms are becoming widely accepted in comparison to these old institutions of lending.
ONLINE COOPERATIVE THRIFT AND CREDIT SOCIETIES
Member-based societies that provide avenues for savings or soft loans via your contributions (daily, weekly or monthly). Your daily contribution of $1 can be worth over $100(40,000 nairas) in 4months, this can qualify you for loans up to $2,000 (800,000 Naira). You can afford yourself the leverage offered by these communities.
It is worthy to note that majority are still in the oblivion of these recent developments. The information though out there is not within the reach of many. A rather unfortunate state to find oneself.
An illustration might help bring home the importance of information. The story of a former artist who drew the wonder woman on the transformer comic book 1970s and 1980s, recently sold his drawing as an NFT for $1.85 million dollars, making him a millionaire. An 87-year-old artist was able to take advantage of the recent developments!
Information out there is vast and enormous, nevertheless, you can join our telegram community for various updates and courses on everything investment in the 21st century — in a simple and easy-to-understand teaching approach.
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