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Cannacurio Podcast Episode 24 with Graham McConnell of Nth Round | Cannabiz Media

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In the latest episode of the Cannacurio Podcast from Cannabiz Media, my co-host, Amanda Guerrero, and I discuss hemp licenses, trademarks, and retail point-of-sale data. We also speak with Graham McConnell the co-founder of Nth Round, a comprehensive equity management platform for companies of all stages and sizes.

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Cannacurio Podcast Episode 24 Transcript

Amanda Guerrero: Welcome to the Cannacurio Podcast powered by Cannabiz Media. We’re your hosts, Amanda Guerrero and Ed Keating. Hello, hello, and welcome to the show, everybody. We’ve got a really great show ahead with some very interesting data highlights.

Today, we’ll be joined by Graham McConnell, the co-founder of Nth Round. Nth Round is a comprehensive equity management platform for companies of all stages and sizes. They are also a Cannabiz Media subscriber, hooray. But as always, let’s check in with Ed to see what he’s learned this week for us on the data front.

Ed Keating: Thanks, Amanda. So we brought in some new data last week, a lot of updates actually, from Oregon, where we brought in 57 licenses and Canada where they’ve issued 20 more licensed producers in terms of their marketplace.

And then, we just recently wrote up an article on a recent trademark case with Edible Arrangements where they complained that somebody is using a trademark similar to one that they own. And I dug down into the licenses, and I thought it was interesting to find that one of the reasons why they might be so interested in this is because they are actually growing hemp and manufacturing it in Connecticut, plus they have…

Amanda Guerrero: No way.

Ed Keating: Yeah. Plus they have about a dozen or so licenses in the south where their stores can use CBD in their offerings. So I think they’ve got a very interesting angle in terms of why they’re so interested in defending their trademarks.

Amanda Guerrero: Yeah. That’s interesting. I wonder if we’re going to start seeing more lawsuits like that moving forward within the hemp space specifically?

Ed Keating: It’s a good question. I know that with Edible Arrangements, they’re pretty well-known for defending their intellectual property…

Amanda Guerrero: Yeah.

Ed Keating: … and have done that for a long time so they make that clear in a lot of the news coverage, but this one was just sort of interesting to see having worked on the Connecticut licenses myself, to realize under a different brand, they are growing and manufacturing products. So it’ll be an interesting one to keep an eye on.

Amanda Guerrero: Very interesting. And I see a lot of the data highlights are focused on cannabis. We’ve had a lot of hemp come in over the last few weeks. Are we seeing hemp license updates slow down, Ed?

Ed Keating: Yeah, pretty much. A lot of the hemp licenses, as we’ve talked about in the past, tend to focus on the grow season, so a lot of them get issued in March and maybe April or before that because people want to have licenses so they can put seeds in the ground. And then after that, a lot of the states are done. I mean, they run it through the Department of Agriculture, licenses are issued, and then we wait until the end of the year when they all expire.

A few states have ongoing licensure where you can sign up any time but a lot of the growers now are more in like a harvest situation, so a lot of new licenses are probably not going to be issued at this point. So we expect to see some of them ending in end of November, end of December.

Amanda Guerrero: All right. Well, sounds good to me. Thanks so much for the update, Ed. When we come back from our commercial break, we’ll be joined by Graham McConnell, co-founder of Nth Round. Stay tuned.Welcome back, everybody. I have with us Graham from Nth Round. Graham, welcome to the show.

Graham McConnell: Great to be here. Thanks so much for having me.A

manda Guerrero: Yeah. Thank you for joining us. We’re so excited to have you on here. It’s been a few weeks in the making. So tell us a little bit about yourself, Graham. You and the Nth Round team are providing a pretty interesting solution to a sector within the cannabis industry and beyond. What kind of sparked this idea?

Graham McConnell: Yeah. So I grew up in the Philadelphia area, and after college, I came back home and worked at a startup in a town called Radnor outside of Philadelphia. I got stock options in that company and was really excited to be a part owner in that enterprise only to two years later find out that I really didn’t know what those options were worth and was actually ended up kind of giving them up because I didn’t realize the rules around executing those options. So…

Amanda Guerrero: Yeah.

Graham McConnell: I went from there to a public equities investment manager and kind of got to see the opposite end of things, where there’s so much infrastructure around public companies, the employees of those companies get the benefit of as soon as their options vest or their equity vests, they can turn around and sell it on the open market. So we just started playing around with ideas of how we could make that better in the private world.

Amanda Guerrero: Wow. That’s incredible. And also, really important solution. I come from a recruitment background myself, and the education around options and what that actually means to employees is not something that’s readily available, especially within a startup environment. And unless you have the resources to do that research on your own or really take the time to understand it, it can be a little confusing and overwhelming.

Graham McConnell: Yeah, definitely. And honestly, the VCs that back a lot of those companies, they benefit from the lack of transparency there. They like their golden handcuffs and the fact that everyone’s tied up in the enterprise until there’s some kind of liquidity event, so I think educating people is a big part of this and also kind of just changing the interaction between VCs and their portfolio companies.

Amanda Guerrero: Yeah, absolutely. So with Nth Round, can you tell us a little bit more about some of your most interesting fundraising experiences thus far? I know that you guys just went through a raise and have worked with a few other groups.

Graham McConnell: Yeah, absolutely. So one would be, in the cannabis space, would be a guy by the name of Bob Pease, he used to work at a company called Franklin BioScience in Pennsylvania.

Amanda Guerrero: Oh my God, yeah.

Graham McConnell: He has a new enterprise called Sunrise, and he just completed, in the last month or two, his raise. I don’t want to give too much away, but to be honest, we can’t really take much credit for that fundraiser because he already had success previously and had a great network to reach out to.

So that’s one and then another would be, we’re starting to work with some accelerators. One down in the Miami area is called Rokk3r Labs and they have six of their portfolio companies that they’d like to fundraise for. So we are spinning up sites for all of them and basically improving fundraising automation is what we call it, signing documents, getting accredited investor questionnaires filled out, all of that kind of legwork that’s involved in raising money. So we’re really excited about that as well.

Amanda Guerrero: Awesome. And with Nth Round, do you guys also work with a lot of Canadian groups?

Graham McConnell: We have worked with some. I will say I think the fact that the public markets have, for lack of a better word, just not been so kind to the cannabis companies, and that, I think, has created a little bit of a headwind for us. I mean, I think the market is still strong and will continue to be successful, but for whatever reason, I think that has left a bad taste in some people’s mouth.

But I will say, I think our platform could be argued is a better alternative to going public or at least having that goal as the end state. If you can be an evergreen company, do right by your shareholders, and kind of instill patience in them in terms of being long-term investors in the company, you may not really need to consider going public at some point in the future.

Ed Keating: So, Graham, I used to work a lot in the Securities and Exchange Commission, sort of rules and regulations publishing area, so this is a really intriguing business that you’ve created. And one thing that I wonder in terms of regulations is: what do you guys have to abide by? I mean, obviously, and you’ve touched on it, there are accredited investors, there’s also investor communication rules. So what do you have to comply with and how do you manage that process?

Graham McConnell: Well, almost all of the raises that we help with are Reg D filings, so you’re absolutely right that there are rules around accredited investor. There are actually statutes that say you can bring into up to 35 non-accredited and not a lot of people recognize is available to them.

And then in terms of reporting, we’re absolutely trying to make that as easy as possible for companies. We encourage any company on our platform to at least communicate on a quarterly basis, others like to do it on a monthly basis, which is even better, but one other thing that we’re pushing is if you can start to engage with shareholders, with investors using video, it’s actually much faster for the founder to create those kinds of communications.

I mean, yes, you want to report your financials, but creating a five to 10 page document every quarter is actually more time intensive than creating a 5-minute video and just kind of filling in your investors on what’s the latest going on. So I think there are opportunities there to ease that communication.

Ed Keating: Interesting. Now, what about things like valuing these options. I remember trying to understand these fiendishly complex Black–Scholes formulas to value options and whatnot, and it always seemed to be a bit of a dark art. Is that anything that you guys get close to or do you help advise your clients on?

Graham McConnell: We stay out of the business of valuing options. There are plenty of firms out there that do company evaluations and a lot of companies look to [inaudible 00:10:06] evaluations to put a price on their options, but there are other companies that just stipulate a price and that’s at their discretion really. So, yeah. I mean, we try to leave it mostly up to the company. We don’t want to get into any hot water trying to put a value on our customers.

Ed Keating: Right. Right. No, that makes sense. That makes sense. Because what it led me to think about is there’s a company that I was aware of called Computershare, and they bought up a lot of the companies that were in this space for public companies many years ago. Are you sort of like a Computershare for private companies – really handling all those types of functions aside from the valuing of the options?

Graham McConnell: Yeah. I’d say we are pretty comparable to them. I will say, we’re not a… I’m not positive whether Computershare does this, but we’re not a broker dealer, so we were never in the business of trying to market someone’s equity and sell it on the open market.

Ed Keating: Got it.

Graham McConnell: We respect the fact that these are private companies and it’s completely up to them who their investors, who their shareholders are, so we leave a lot of that up to the companies. And that goes back to what I was saying about options. We’re providing a platform for these companies but not trying to overstep our bounds there.

Ed Keating: Right. And some of your brand message really seems to be a lot about founder control, and leaving the founders with as much control is probably a good thing, but that leads me to the next question of: walk us through how do you guys make money? What kind of models are you using to earn compensation?

Graham McConnell: So we have a SaaS model, pretty standard. We charge an annual fee and there are different tiers of that. We tend to base it off of number of shareholders, which to be honest with you is not a great metric, especially, I think, when you look at the cannabis space where you may raise money from 50 individuals and they’re a relatively small check sizes, each one, so it’s difficult.

We’re really trying to align the value delivered with what we’re charging. But just to give you an idea, for companies with over a hundred shareholders, per se, for example, that would bump you up to the next price tier because the more investors, the more shareholders that you’re having to manage, the more value is there.

Ed Keating: Yeah. That certainly makes a lot of sense. I know Amanda touched a little bit about this before, but have you seen any peculiarities about doing this in the cannabis space? Because from what I’ve seen just sort of looking in from the outside, a lot of the raises seem to be around ancillary companies. and I’m sort of curious what you’ve been seeing from where you sit.

Graham McConnell: Well, I definitely think one thing that is attractive about the cannabis space is that there’s really, I don’t know if attractive is the right word, but it’s really an underserved market in terms of banking and capitalization. So a lot of these institutional players just won’t touch cannabis. And I mean, that’s a problem in and of itself, but that means that you have to turn to more individuals, like I was saying, and look for other sources of capital.

Ed Keating: Mm-hmm (affirmative).

Graham McConnell: And I think that lends itself to a platform like ours, where you can kind of take control of taking ownership over the relationship with your investors, commit to being transparent with them upfront, and align them with the long-term goals of the company so that they’re in it for the long run.

Ed Keating: Oh, that makes a lot of sense. Now, one thought that occurred to me as we were talking is one of the most public fundraisers I’ve seen in the space is High Times, where they’ve tried to raise money for a really long time in the public market. Any thoughts on that and how you guys probably could have helped them?

Graham McConnell: Yeah. To be honest, I don’t know a whole lot about their raise. I think it’s difficult to be a player in the public markets when you’re a cannabis company. A lot of people don’t realize that there are really high costs involved with being public.

We helped one company that was actually going private and they were spending, I think, $600,000 a year just to be public. And when you look at that in relation to High Times, I think you have to say to yourself, “Is that really worth all the benefits that come along with being public?” Because I mean, don’t get me wrong, there are definitely benefits to being public, but is it worth that $600,000 every year?

Ed Keating: It’s a great point. At one point in my career, like you, I worked for a small public company, I had some options, and we definitely should probably not have been a public company because you’re right, you have all these auditing fees that you’re paying to get accredited financials, you have directors and officers insurance, you’ve got to hold board meetings and you have to pay listing fees, and you’re right, it gets really expensive.

And so some people like the impression they have, like, “Well, we’re a publicly traded company,” but it certainly does come with a heck of a lot of headache, so I think, if you can keep great companies operating on your platform, that’s probably a much better place to be.

Graham McConnell: Yeah, absolutely.

Amanda Guerrero: So tell us, Graham, how does a company like Nth Round utilize the cannabis media platform? I know John Pohlhaus from your team is the primary user, but for you guys, how have you utilized our platform?

Graham McConnell: Well, we really see it as a source of truth, to be honest. Looking at licenses that have been granted is, conveniently, a great way to find new businesses that are coming out and just hitting the market. So definitely, we use it as a database just to kind of understand the landscape out there.And then also, we rely a lot on word of mouth, but also just on campaigns to kind of reach out to people and get a sense as to whether our platform is a fit for them. We use that, like I said, as a source of truth so that we can get in contact with all of these companies and just see if there’s a fit.

Amanda Guerrero: I love that answer. We definitely like to see ourselves as that as well, so glad that you guys are seeing some benefit from there. Now, looking towards where the end of the year, we’re in Q4 right now, any big, exciting launches, plans, updates for the end of the year or maybe 2021?

Graham McConnell: Well, we’re definitely doing a lot around tax reporting. The tax season is a huge pain for a lot of companies. If you have to send K-1s or if you have to send some kind of document to all of your investors, why not make that really easy instead of sending PDFs with password encryption on there? Why not upload them to your investor portal and tell everyone, “Here’s your full history of documents spanning back five years.” So we’re trying to make that process really easy.

And then the other thing, I think we’re leaning into this idea of slightly more institutional players like accelerators or incubators that they would like to onboard the platform for their portfolio companies and help them to fundraise. So…

Amanda Guerrero: Oh, that’s exciting.

Graham McConnell: … we’re excited about that and we’re continuing to build out features there.

Amanda Guerrero: Very cool. Very cool. That actually seems like it would be a perfect match for those accelerator groups. Have you guys gotten a lot of traction there?

Graham McConnell: We have. We’ve gotten some early traction. It’s difficult with any new product initiative. You don’t want to get too far ahead of yourself. You want customers there that are paying and getting value out of it so that you can get feedback from them, but it’s just a tough balancing act because you don’t want to build too much upfront without having the validation there. But we’re confident. We’re feeling confident at this point that we have enough customers in that space, so that’s why we’re making the investment.

Amanda Guerrero: Wonderful. Well, thank you so much for joining us on the show today, Graham. We look forward to hopefully seeing you sometime in 2021, once COVID is over and yeah. Hope to see you around.

Graham McConnell: Absolutely. Thank you so much for having me.

Amanda Guerrero: Yeah. Thank you. All right, Ed, let’s take a look ahead and see what updates we’ve got from the data vault.

Ed Keating: So we’re digging into the point of sale data. So for most of the summer, we’ve been calling into dispensaries and retailers across the country trying to find out what kind of point of sale they’re using.

So far it looks like there’s at least a dozen or so new vendors that have appeared on the list since last year. A bunch of them appear to be what we call one-state wonders, mostly in Oklahoma because that’s where most of the dispensaries have appeared as you well know.

Amanda Guerrero: Yeah.

Ed Keating: What’s been interesting in some of the early conclusions I’ve seen are a couple of companies are offering a free point of sale system, and it looks like it’s all paid for through upgrades. So if you want to delete something, you have to pay for that or whatnot. So I thought that was kind of interesting and odd. And then…

Amanda Guerrero: A free point of sale. Can you do that?

Ed Keating: Why not? If you don’t get the upgrades, you’re probably going to have a really hard time. And then, I also have found a few what I’ll call cannacurious point of sale systems, where they already operate and exist in other industries like pharmacy and retail, and now they’re coming into the cannabis space. So they don’t have a big install base, but they’re testing out the water. So we’ll see how that progresses, and that’s really what I’ll be working on really through the end of the month until you and I present this on another podcast for NCIA members.

Amanda Guerrero: That’s right. Coming up on the 28th, we’ll be joining the NCIA team for one of their webinars for members, so if you are a member of NCIA, don’t forget to RSVP. We’ll share the link with this posting as well so that you guys can register to get to know [00:21:15] a little bit better and review some of the point of sales data.

Thank you, Ed, for that update. Everyone, this is the Cannacurio Podcast powered by Cannabiz Media. We are your hosts, Amanda Guerrero and Ed Keating. Thank you for joining us. Stay tuned for more updates from the data vault.

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Source: https://www.cannabiz.media/blog/cannacurio-podcast-episode-24-with-graham-mcconnell-of-nth-round

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Absolute Nature CBD Review

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Absolute Nature began when the founders discovered the therapeutic effects cannabidiol (CBD) had to offer. However, they quickly realized how “wild west” this industry felt when it came to shopping high-quality products. As many of us have, they’ve run across low-quality, improperly labeled products that didn’t provide the true benefits hemp has to offer.

With over 20 years in health, fitness, and natural supplements, Absolute Nature makes it their focus to craft only the most effective CBD products. All it takes is a visit to their website and a read through their hundreds of reviews to see that these supplements might be able to help you with a particular ailment.

Absolute Nature also focuses on making sure their manufacturing process is as environmentally-friendly as possible. They ensure that every ingredient that goes into their products is developed only under organic methods. Furthermore, all packaging and material is made from recyclables – ensuring they aren’t adding to the plastic crisis currently facing our planet.

If you’re new to CBD, we definitely suggest using Absolute Nature as a hub for your needs. Beyond the fact that they offer high-quality products at a reasonable price, their website also hosts a ton of information surrounding the hemp plant, cannabinoids, and health. If you’re unhappy with your experience with Absolute Nature, they offer a 14-day return policy on all opened products.

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Source: https://americanmarijuana.org/absolute-nature-cbd-review/

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How Many Devs Does It Take to Fly To Mars?

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Natasha Nel Hacker Noon profile picture

@natashaNatasha Nel

👋 I’m the Managing Editor here at Hacker Noon. I also make podcasts and write stories.

What’s David’s hot take on Facebook’s pivot to audio? Hands up if you think the Mars Helicopter video is a deep fake! ALSO: are kids growing up during a global panini more likely to get face tattoos? 😱 Shoot the shit with Hacker Noon‘s Editors —

This Week on Planet Internet:

  • Props to the 12k open source devs Github says contributed to Ingenuity’s maiden voyage! (0:33)
  • Hands up if you think the Mars Helicopter video is a deep fake (3:52)
  • Catch David’s Hot Take on Facebook’s pivot to audio (06:18)
  • Hey WTF happened to Libra? (07:23)
  • Are kids growing up during a global pandemic more likely to get face tattoos? (08:50)
  • Is Substack’s margin really Facebook’s opportunity? (11:03)
  • Find out how Facebook’s moderators accidentally helped Hacker Noon sell more t-shirts (15:46)
  • Is any system that claims to be blockchain voting “neither blockchain, nor voting?” (17:13)
  • Do you stan #decentralization? (22:42)
  • What worldwide crypto adoption sounds like (25:23)
  • Oh hey, happy 4/20, everybody! (30:12)

You can listen to this episode of This Week on Planet Internet (a production of The Hacker Noon Podcast) on Apple PodcastsSpotifyGoogle Podcasts, or wherever you get your pods.

You can also watch the recording on Hacker Noon’s Youtube channel:

Read the tech stories talked about this podcast: 

1. Open source goes to Mars by Nat Friedman for The GitHub Blog

2. Five takeaways about Facebook’s pivot to audio by Casey Newton from Platformer

3. 3 Reasons Why Blockchain Won’t #ReleaseTheKraken: An Interview with John Sebes of TrustTheVote.org by Benjamin Bateman for Hacker Noon

4. Cannabis banking act passes U.S. House with bipartisan support by Matt Burns (lol) for Tech Crunch

Episode Transcript*

*This transcript was generated by the robot that lives inside Descript and has not yet been fully edited for human-level correctness.

Boom! Utsav you weren’t here last time. Basically what we did was whoever picked the articles, summarize them pretty shortly, and then we discuss anything that, that makes you think of, and then we retire is the idea.

Got it sounds fun.

this week on planet, internet with the hacker noon editors, we have

David Utsav, Amy and myself, Natasha. Speaking of planets. Let’s start with some props to the 12,000 developers GitHub says contributed to ingenuity software via open source. this is referring of course, to the Maiden helicopter voyage in the Martian atmosphere. pretty cool initiative from GitHub.

They’re going to put Mars 2020 helicopter mission badge on the GITHUB profile of every developer who contributed to the specific versions of any open source projects and libraries. Used by ingenuity. What do you guys think of that? And what do you think of space as a concept? As a destination on your list, or nah?

This is truly the beauty of open source, I feel

I would like to go to, I definitely would like to go to a space.

Yeah.

I know how I feel about that.

Like, how do you guys notice that whenever, like something is like related to governments space, it’s always open source, close source, like stairs, just empty offices. We had this big news come out of the idea that every government employee was asked to learn how to use Lennox, because nobody wanted to pay for windows.

And we can see something very similar with these guys. They have billions of dollars of budget, but they always want to go up. And so it’s what do you guys think? Is it because of the security or does it because people want to save that last time

I think it’s definitely like saving the cost for sure. If they go open source and it’s like community driven and more marketing, perhaps a better word of mouth, and then they don’t have to pay the developers. Woo. What a win,

whoever and sources. It naturally has an powerful market position. So the government wants to not have space be privatized. So I think if the government comes in from an altruistic point of view and says these best thing about space should be open-sourced, they’re more likely to gain. Market share of the space industry in the future. So I think it’s all selfish and people are self-driven. And also really, it’s a badge on a profile, don’t get too crazy.

People will go nuts for those badges though. I feel it’s like a pride badge of honor licking me. I helped develop the Mars.

How would you describe the design of the badge? Who wants to do that for our audio listeners?

It looks like a drown on its way to Mars against a nice purple space looking sky.

Have you seen what you’re describing as a drone is the helicopter

Have you guys seen the video of the helicopter flights? This is what I love about space travel the most, I think and all of the recent news around it is that every time you hear Amazing footage of X, Y, Z, happening on space. And then you check it out. this video for our listeners, first of all, get like spotting aforementioned drones slash helicopter,

it likes like getting placed in the middle of the Sahara desert.

Exactly that

there’s nothing. See, this is why I don’t really necessarily want to go to space. It looks like there’s nothing,

it looks like a mosquitoes flying, as you say, in the juice of some kind of Sub-Saharan African landscape, but this is a big deal. And I think it was 39 seconds.

Absolutely. No life there. There’s no plants. There’s no animals, nothing. It’s just rock. It’s just a giant rock.

All right. Let me be the paranoid one. Anyone thinks this is a deep fake,

Probably.

That’s why they have to save money on it has to go open source. They did not have the budget. Makes sense. Somewhere that it was saying that even landing these tags on whether it is the moon or the surface of Mars, it needs to be at a very specific speed. It cannot go over. It cannot go under, they have to control the speed, right from the light. Detachment from the actual whatever shuttle goes in and then what gets dropped over there. And they have lost so many rovers or whatever they called, just because they were not able to get the speed. It was all a few like meters per second or something like that. And they lost those little words. It’s quite exciting when you like, read about these things and say, okay, now we can do that.

Exactly. And just how territorial everybody gets about it. There’s a lot of grades thinking and rising about space on hacker noon, for example shout out to one of my favorite space writers, Monica Hernandez, and Anthony Watson recently wrote about the United States and using the space race. It’s always yeah, hyper competitive.

But speaking of races being raced and won. Well Last what do we think of Facebook’s pivot to audio? Casey Newton, independent journalist. Quote unquote launched a discord server called side channel over the weekend with some fellow independent journalists. And then just as casually interviewed Zuckerberg on it on Monday. And this is obviously part of, some kind of PR Zuckerberg is doing there’s a lot of creator first messaging around it. The summary of what Newton means when he talks about the Facebook’s pivot to audio is sound soundbites, which is a new format for creative short form audio. Much like TikTok then also long form audio, obviously trying to capitalize on podcasts, and then of course, compete with clubhouse compete slash copycats. However you want to look at it. So how do you guys feel about Facebook’s pivot to audio?

I think it’s so interesting. obviously millennials. Are extremely drawn to podcasting. I think that’s the, they’re the big age group that’s interested in the audio format. And I think it’ll be interesting to see the short term audio format, like a TikTok version and how that interacts with gen Z.

Spoken like the hacker noon podcast hosts.

Yeah.

A few things here. Stand out to me. Real validation for clubhouse that. Facebook has to partner up with Spotify to power this. So that’s like really big validation for clubhouse in terms of the big boys have to team up to try and take out your market share relating to hacker noon. Great to see that they’re experimenting with an emoji as processing the tip, as we look at using the money bag emoji for our writers.

So Cool to see that that behavior is happening, even if we didn’t get there first, obviously we’re not even in the same realm as a, whatever the hell Mark Zuckerberg is doing on a Tuesday much different than our Tuesday is it’s. Yeah, I think Facebook just waits for someone else to do it well, and they do it.

It’s almost at this point where it was a German company, the rocket and internet that they just waited for every imitator and then they rebuild it in Germany. I think like the older Facebook gets the more some of their choices seem to be about that and not about their users.

Yeah. Did anybody notice that it said Facebook’s currency stars. What happened to Libra?

What happened to Libra?

MasterCard pulled out. Visa pulled out, everybody else started to fall out and I’m seeing like Facebook currency is now stars. Okay.

Did you hear of stars before this article?

No. I just saw this.

Super casual, Mark Zuckerberg, super cash. The other cool thing about this article that I think Casey actually does. A good job of explaining is like when Facebook did pivot to video, they made, positioned it publicly as this is something for the little guy, but really they were commissioning all the big guys, CNN on down to produce videos on their platform. And then once they had enough videos, they started cutting off distribution of the big guy. And here you see again, Zuckerberg is saying, this is all about the little guy, but what they’re going to do is seed the marketplace heavy. And they’re going to bring in the influencers. They’re going to bring in the power players and bring in these big audio rooms and compete with clubhouse.

And so they’re there. They are doing this thing where like, how are they spending their money versus how they’re talking about it. And there’s a clear diconomy happening that Casey can call him out. Cause he, he can message Mark Zuckerberg and he knows them enough, but he also wants him to message again and come back to his discord server. So he’s not going to go as far as calling out exactly how this money behavior is different from what he’s saying, but you walks the line. If you go back and forth on this article that I appreciated it. Yeah.

Facebook is always about making money and never about their user. Not rarely about small businesses either.

So yeah. Can I share a random face thought with you guys? So I was in the park. All right. Watching my daughter. And there’s all these kids with masks. And I was thinking like how this changes their development and here’s obscure gut prediction is people that live during the pandemic from four to 10 are much more likely to get face tattoos later in life than the generation before them.

Whoa. Oh, yeah. What do you think outside the box? This is what Facebook made me think of. I hope not. I hope not either, but there are good. I think there are some developmental things is going on that may not be healthy for future tattoos, with the volume of mass that everyone’s wearing. But this is probably something I should put all of our listeners under NDA for let them know. This is a thought that I don’t want distributed. That’s all interesting.

I’d be budded about what is it that these guys would be bad doing on their faces? Cause our changes like every five or six years, and we just have no idea what is it that they find cool? That is a very different definition of school back in our days, or at least my date because the museum.

You have face tattoos, travis Barker, who, for those of you who were born around my sort of generation is the drama for blink one 82 So anyway, Travis Barker posted a happy birthday, Instagram too. Was it Chloe Courtney, a Kardashian of her sucking his, he’s heavily tattooed, which is the lens. It’s a crazy time to be alive. to bring it back to Zuckerberg I’m with Amy on that, on, I just don’t trust it. I don’t trust anything, no. Cause he seems like all he wants to do is affect his triple bottom line. He doesn’t give a shit about what effects his users or small businesses or anything like that.

Like on Facebook as a small business, you can’t do anything unless you put money into your post. And yet he would still rather let you own your audience and then pay you. I believe one of the takeaways from this is that he’s going to follow the sub stock model of you can take your subscribers with you, should you want to leave one day which is apparently a big Juul card as opposed to monetization, which I think is interesting and maybe not that’s sustainable.

Don’t you love this right here. Stop on that line. The stub stack margin is Facebook’s opportunity. See my ethics disclosure about sub stack. Every time it’s mentioned, he has to put it’s okay, great. They take 10% and they send your email. Like it’s that’s what they do. And Zuckerberg is coming in and this is where Zuckerberg is clearly. Going closer to the credit card fee is much more reasonable and being more like two or 3%. Like sub stack taking 10% of your subscriber base. Great. I can take my emails list with me, but your tax is like higher than the state income tax or depending where you are sales tax. You is generally less than 10%. So it’s pretty high to process a transaction. So I think Facebook doing this is going to make sub stack drop their revenue, share to stay competitive, which is a good thing for anyone who sends an email.

That’s interesting because the draw of in the marketing sense of these kinds of platforms is that like you, the, your audience lives on that platform and you can’t take them anywhere else and you don’t own them. So whatever happens to Facebook, if it blows up, if something happens, if they change their policies, you don’t own any of your audience there.

Not only do you not own it, but once you leave, they will feed your audience related content. Like it’s like an ADM. They just looked at our subscriber list and send them all a zero, one stories about tech.

And it’s that’s look alike or just send them similar stuff. It’s Once you have the platform. I can’t export all my Twitter followers. What’s a matter of 15,000 people. Follow me. If the Twitter doesn’t feel like surfacing my tweet, I can’t reach those people. So I think this whole movement of email contacts and creators, valuing email contacts and platforms offering portability, it’s all the right direction. It’s just, it feels like the wrong people are doing it.

I think the two things that were super interesting for me to sum up on this article were that zuckerberg understands that keeping uses in app to consume content is paramount to the success of his platforms. And then the last kind of takeaway from article is phrased as, and I’m quoting Zuckerberg argues that some of the negative attitudes about Facebook are explained by the same forces, propelling, the success of creators, the shift in power from institutions to individuals, which I just, yeah. Was, is he arguing that it’s like a Republican agenda that is, away from the individual that is pushing for the regulation of big tech and appealing to like, the left here or what? I’m not in America. I don’t understand the right probably as well, but it feels very political, the statements. He’s talking about this regulation. Earlier asserts that audio moderation is going to be more difficult. Read, like you’re not going to be able to stop extremist stuff from happening on podcasts that are hosted on Facebook or in groups because he predicts, for example, the clubhouse version going to be very popular with groups. So that’s going to be almost possible some moderates and then there’s this kind of low level attack on moderation and the forces and the negative attitudes. Yeah, I also found that interesting. I don’t know what your thoughts are on that,

and yet they are willing to shut down Facebook and entire countries.

Yeah. Australia does find it. Interesting. Okay. So I want to just ask you guys really quick. Do you guys think that moderating audio is like all that hard? Like we have been able to moderate video as like YouTube doesn’t, but moderating audio shouldn’t be hard. It’s just like tracking those like bars or gloves or whatever.

YouTube has a lot of dark rabbit holes. They get shut down, but then there are like, you’re going to be the host of those dark rabbit holes for some period of time. And then they try and shut them down that period of time to get the darkest things off the internet. So whenever you’re at their scale, a dark rabbit hole may only last a day, but suddenly you’re live streaming, a killing, which has happened many times on Facebook that you don’t see in this discussion here.

That’s for sure.

Yeah. I think it. It’s hard to monitor everything of course, but as content goes viral as with the cases of certain killings that happened on Facebook alive or whatever Facebook will be more in tuned and notified into what’s going on with their audio programs. I guess they’ll have to monitor it for at least a while to make sure that it’s working.

Okay. And it’s Facebook at the end of the day. These guys are best. They train their dogs off, like moneybags like they have the means to pull stuff off in the best way possible. Like they have the money for that, whether they can or not, they would answer that question.

Okay, Mark Zuckerberg, please. Don’t penalize any of our posts. We’re sorry. We play verbalizing in the game as well.

Did I tell you about the one hacker noon thing that got monitored from Facebook? It was our hacker new. When we released a special edition of the hacker noon t-shirt were $10. Once the eff for every tee shirts sold, it got marked as a sex item. And because the cert was so sexy that you couldn’t have it filtered or be promoted.

And it was a plain black t-shirt with the packer noon logo. Because of that one. Then we pop, utilize that and sold more. T-shirts yup. That’s great. Everybody wins in the end. All right. Onto the next piece on speaking of things people want to regulate and moderates. Blockchain. And that’s a, that’s why I’m glad that’s not us here today with us. Our resident experts on the subject, this article from hacking is called three reasons why blockchain weren’t released the cracking. And it is an interview with John of trust, the vote.org. I really liked the setup for this article. So I’m just going to read that to you real quick.

Echo chambers are arguably the worst thing to come out of our social media centric lives. Since that onto your viewers, your comments not grown up, you now look on every photo that you post while it’s a lot of fun discussing big topics with people. I wholeheartedly agree with what’s life without a little heated debate. And thanks to Free Ton’s active role as a member of the government blockchain association, I get to chew the metaphorical code with those on both sides of the fence.

So this interview with John Steve’s by Benjamin Bateman sets up is the fact that the author disagrees with the interviewee on a controversial statement.

And that statement is such. Any system, which claims to be blockchain voting is neither blockchain nor voting. thoughts.

Let’s go to our blockchain editor.

I’m going to call it friend.

I would definitely like anything we got always ready with pens and paper than we are like, I’m so glad you asked. So I have that mentality right now. So it’s a very like controversial claim because when you talk about blockchain voting and the claim over here, it is that it is neither blockchain, nor as voting because let’s us, you back.

There will always be certain drawn votes, cost, or bad valid cost, like people in the U S might remember about that butterfly ballot scandal, which is given us the reason why I am not sure whether I’m getting the names. But that’s the reason why people say I’ll go lost or like some other people.

The president lost. So the last matters that people are very likely to make mistakes and on the blockchain, you are not allowed to make mistakes. So when you make a mistake, then you cast a wrong vote. Or if the machine fumbles and registers a wrong vote, can you go back and change it? No, you cannot because the diagram Trump that you see over here, it is called a Michael root, how this works. And again, I’m very happy to explain that the ones are the lower and the ones had to say. Harsh transaction. He had hashed transaction beat. You need both of them. Like both of these are cryptographic proofs. You need both of these to get an answer, which will give you the one just above it. And then just above it is the root or what you call the Merkle root. So it allows like storage of transactions in a very distributed manner. Say space. It’s very good from a database standpoint. But it doesn’t answer that question. Once somebody goes in there, you cannot change it. And a big part of voting is like, whenever you have cast your vote, as we see sometimes in Switzerland, I guess it is where you can recall your votes.

So you can say that. Okay. I do not like that person who I had voted and by a majority of sorts you can do can call that guy back. That is called direct democracy on the blockchain. You cannot have anything like that. The same goes for the blockchain side of things. It takes time to process a vote. It won’t get validated easily.

There can be 51% attacks. How do you fight back? When there are billions of dollars, like loading on stuff and people in Russia allegedly like trying to interfere with the elections in the us, which is at least in my opinion, one of the strongest democracies after my own India shout out to definitely we are the largest.

So how that goes is like, when there is so much meddling happen happening when there is so much money at stake powered at stake, how do you like get people to act in the right manner? And these questions of locked in cannot answer it as just a black box and virtual. Tell you what it has been told it doesn’t have something off at individual judgment of sorts.

It just works by how it restricts. It works by. Grand centers, protocols. It won’t answer the questions that you want, whether something gets right. Let’s say that there is a Saddam who said again, allegedly a bad person, because I have heard both sides of the stories. Let’s say that he is a bad person and he gets the most number of votes now because his election is on the blockchain.

Can you invalidate it? And if you can, how do you do that? And as you do that, then you are saying that code is not low. Then you say code is not low. Now the blockchain does not even exist. I hope I made sense

if you voted for the wrong person. Yeah. It’s your fault. Like you can’t go back and change it.

That’s yeah, I dunno.

That’s what I’m saying. Like when, like what happens at least in my country is that every time you press a button to vote, you’ll get a paper trail of your. Like off your vote as well. And sometimes like when it goes to the wrong person, you can always go back and say, Hey so this happened and hopefully that can let you vote again.

And you cannot do that on the blockchain. Once a war discussed, it discussed,

what is the voting process like? Is it literally just a click of the button?

There is I can give you the answer from India. So there used to be ballots over here, which I think us hasn’t certain effect States, but now what we have is called an electronic voting machine.

It is again, a black box machine, not connected to the internet cannot be hacked or whatever, and you just need to press a But not that your vote gets registered. And once of all task, you’ve registered to get a paper crane, which is called a VPAT a verified voter paper audit trail. I got that, right?

Yeah. So yeah, that’s how that works.

We’ll be teaching classes. You can sign up@hackernoon.com

Yeah. And do you check out our blockchain stories@hackernoon.com

part of the decentralized internet writing contest. So anyone that submits a story with decentralized internet as the tag you opt in for some prizes from FreeTime. So yeah.

So I would like to know what are your thoughts on this entire decentralization movement? Like personally, I believe that I am too far down the rabbit hole to have an objective opinion on it. But what do you guys think is that hope for me? Are you guys going to join me down the rabbit hole?

What rabbit hole are you down?

Decentralization? Everything should be decentralized. There cannot be anything Centralized.

I’m all about that. A friend of ours just bought a house with Bitcoin, just done. Everybody is losing their minds in the friendship circle, because now suddenly it’s like a very real, tangible example of the fact that this can happen. And I think that Venmo, I believe it was right. Just added cryptocurrency.

The Bitcoin price speculation side of it. Isn’t really decentralization like your friend buying a house because they were smart enough to buy an asset that a thousand X is good for them. That’s not really decentralization. That’s more of business acumen. And I guess it is like of sensing that this would become worth a lot more. I, I get really excited about it from Hey, we’re like how many public companies are we dealing with? We’re looking at a Chrome browser on a zoom call, talking about Venmo, who’s owned by PayPal.

Like the trees are, they owned by Braintree now who knows. They pass these little companies around, train them up. I would like it to be like, I think when it wins, like clubhouse beating back to the early article, it’s more descent. It’s more an argument for decentralization. If clubhouse can do clubhouse and Facebook, can’t imitate it. And that, and clubhouse can just win that little section of the market. The more like. The all these businesses can have little more sustainable little circles, the more they don’t have to consolidate. So that’s where I get really excited about decentralization is where means businesses don’t have to consolidate to survive because if the, if you. Where are you getting the problems of monopolies and all is like people reach a certain level of their business and they have to consolidate, or a consolidation is the logical business choice. And that means competition is dying in my mind. So there is a purity of decentralization that also is in a way, like very capitalistic of keep the competition healthy. And that is like where I get a little. Confused about what I believe, because they seem to be competing things, but they’re really, sometimes they’re not.

It’s me, how it isn’t decentralization to have the Capitol taken away from the banks in terms of financing a home on the individual level.

And if that deal happened without even a bank mortgage, and it was just a big point transfer from one owner to another. That’s amazing like that. That is a great example. I just mean the increase of value of the Bitcoin itself was all speculative and that’s something that like it’s one of the mixed on it, of the value of it to cryptocurrencies, because it gets people attracted to look at the price of the currency. Like how often are we comparing the Euro to the dollar? Not much, but we’re consistently comparing Bitcoin to everything. And that’s Very good marketing, but it’s not sustainable. The point of Bitcoin as a store of value is all debt. If you don’t know how much it’s worth, so in the long-term, you really need it to be steady.

So you know how much it’s worth. So then you know how much money you have and how many goods you can buy. And you’re not just seeing if it like. Has a good day. Let’s go buy all of our groceries this week and let’s wait for Bitcoin to wait for Bitcoin to go back up and we can buy food again. Yeah.

You’d like to get to the point where it’s steady so that people understand its value; so what metric are you using to describe value?

Yeah. Yeah, I get what you’re saying. Like with the dollar itself I don’t think about it as much. Oh, the last time I took a plane, it felt cheaper. It felt, and lately it’s felt cheaper cause we’re still in this pandemic, whatever. But, price of groceries has gone up slightly, but it’s hard to tell when you’re in the grocery store, you suddenly you come out the other side and it’s more, and you think you just bought more food or you look around, you bought the nice fish or you bought something today. That’s different. So it doesn’t. Like we’re the dollar is so trusted. People don’t think about its fluctuations. Like it’s within the internal use of the dollar within America. Some people, it, obviously when price goes up, it changes them. But most of the time they’re not thinking about it. A dollar is worth a dollar. That’s like true psychological, like domination and belief, even though the dollar is fluctuating. All the time people don’t think about it. And that’s where like real trust is of Hey, I can just use the currency as a exchange of transaction of value versus every, how many count in your head? The last 10 times people mentioned Bitcoin, did they mention the exchange rate? And did then look at your Euro. Think about the last time someone said Euro and you bought something around Amsterdam. And did you think about the exchange rate and the answer is probably no, but when it Bitcoin, they do. So it’s I think to mature, you have to not think about what the price of it is.

And that means like the cryptocurrency has become an even more mainstream and it’s, it could be, I like it.

It’s just another currency. Yeah. You wouldn’t monitor the rate of the day.

But is it not like really good or that the price of something is like just a function of the supply and demand like, yes, their dollar is stable, but it is backed by those same big banks and the government that like pretty much, I guess nobody likes. The same thing about the Phottix markets. Yes, like we do not talk about the euros, but if you look at the governments, they only talk about the price of particular currencies and Bitcoin cryptocurrencies. It’s the little guy at least according to me from my laboratory downstairs is that it is the little guy showing it to the big guy. Hey, don’t need your dollars. I have my own thing. Price. Might be volatiles, but at the point when I need to spend it, I know exactly what it’s for because it’s on blockchain. So that’s amazing.

Yeah. People driven exactly people driven versus bank driven. That makes sense.

So there was this fire in China, the hash rate, which is like how much like computing power goes into solving those cryptographic puzzles that generate Bitcoins. So that went down when that went down, the price of Bitcoin crashed five or $10,000, I guess it was like hitting 64 when it was there. When the fire started next day, 55 K like dollars. So that’s the reliability, like it’s the real version of a butterfly flap that gets to being somewhere that is like leading to something else, because there is nobody else to back that up. Then I know market makers in the traditional sense as you have in the government.

That’s true. I’m all for decentralization because I want to take down big Corp. Big Corp equals less diversity in North America and the world. And I am all for a more diverse and inclusive workplace and equal more equal opportunity for everyone to become employed and to have a career. And I think that big Corp really limits that in a lot of cases.

So I am all for decentralization to take down the Facebooks of the world and promote the clubhouses or for it to take down the match.com tinders and boost up the bumbles. I think we should start a new company called meritocracy and become the biggest corporation in the world. Okay. I love it sounds good.

I follow you on your radio. Sweet. All right.

Last, but certainly not least. Have you fought 20 everybody with this. From tech crunch that the cannabis banking act has promised in the U S house essentially what this means is that it is safe for banks to interact with cannabis operators and stay surfacey with the legislation makes allowances for cannabis operators.

And I think this is really great news. The safe. Act it’s called secure and fair enforcement banking act, providing safe Harbor for financial institutions. And yeah. What do you guys think about that on this holiday of four 20?

I think that’s super interesting because I remember I don’t know, maybe two years ago, three years ago when we became legalized in Vancouver. And obviously Vancouver is very close to the U S border. So a lot of people were investing into more cannabis industry related Stocks and any, and there was a point in time where anyone who tried to go down to the States who had invested heavily in cannabis, was getting barred from the States and not being allowed entry. So this is a very like different turnaround from like where we were three years ago when people were like, literally not being able to enter the States because they had crypto because they had cannabis in their portfolio.

I’ve got to say, I’ve been really surprised by how I don’t know what to call it, but Biden has been pretty. Aggressive on some radical. And I’m seeing that in inverted commas. I feel like he’s coming Hotspur on a lot of these subjects and that’s exciting. And I hope to see that the same sort of carries through in terms of the issues that you have of the criminalization of these substances and just how disproportionate the representation is in prisons are on but I think that this is a really interesting step forward. And I guess the government is just realizing now that it’s more profitable to work with cannabis than against it.

I’m in a state where Colorado revenue was significantly benefited from legalizing marijuana and that. It’s a lot of money. So the taxation of that is a lot, but the really important part of this, I went to school in California and I saw the movement from medical and to legalization and early medical. The why this matters so much is they were getting robbed, left and right, because the, all the medical institutions, number one, they’re dealing in cash. Number two, they’re good as high value on the black market. And then you have a one person, two person shop and they are just sitting on this perfect thing to Rob. So they would start to invest in all these like security things. So they had nowhere to put their cash in their good, as opposed to if it’s like a fancy purse, it’s going to get tracked. If it’s a computer, it has a serial number. If it’s marijuana, it’s actually easier to move it in the black market. So all of these people are getting robbed like this definitely. It’s going to stop a lot of crime around the cannabis industry by letting them work with banks. And by letting them work with banks, it means the government’s going to get more of the money cause they’re going to be easier to tax. So I think it’s a really Probably something that’s overdue. Once it’s like the, they legalize it and then they don’t know what to do with the cash and the regulation. And none of these private banks want to take on the risk of it’s only legal in Colorado, but illegal elsewhere. So we’re going to seize your money if you do business with them.

So there’s a lot here that I haven’t gone into all the details of how many businesses it’ll protect, but those businesses were They were hit pretty hard in the beginning. Like it would be so weird. Like, why is there like two security guards, four cameras, and two metal doors in order to get into this tiny shop. It’s because everyone’s trying to Rob them all the time

in the U S are the windows also frosted?

And not anymore in Colorado, but I haven’t been in California

cause there’s no there’s legislation here that says that any dispensary that opens needs to have their windows covered so that no one can see inside, which is wild too, for security reasons, because someone is going in there with guns no, one’s going to see.

And it’s such a waste off, like it’s such a waste of resources, double standards, or work out like the rationale for banning marijuana was like what they got, it’s a gateway drug. So they say let’s pan it not look at alcohol, like one of the biggest reason for drunk and driving drunk and that domestic abuse. And they’re like, let’s regulate that. Like it should’ve been the other way around alcohol

yes.

Like I have my like, own reasons. There’s part the way I see it as that marijuana should have been the one that is regulated instead of the other way around, but I don’t know like why they have to think about this when there are so many other things for these girlfriends to think about.

And they’re like, okay, cannabis owners can access banking. Okay.

Six sec, happy four 20 everybody. Yeah,

D: This isn’t medical advice. These are just for average people reading the internet. Very average people. Okay. I’m an average person. You are three extraordinary people. How about you? Excellent. But still not real advice. Not real medical advice, three extraordinary people and one average person that’s me see on the internet. Read hacker noon.

A: Aye.

U: Bye guys.

You can listen to this episode of This Week on Planet Internet (a production of The Hacker Noon Podcast) on Apple PodcastsSpotifyGoogle Podcasts, or wherever you get your pods.

You can also watch the recording on Hacker Noon’s Youtube channel:

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Playboy is up 143% since going public via SPAC this year as the adult lifestyle brand lures investors with pivot to NFTs

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Published

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  • Shares of Playboy’s owner PLBY have surged roughly 143% since the company’s public debut in February.
  • Playboy is partnering with NFT marketplace Nifty Gateway to offer investors a chance to buy fractional shares of Playboy’s archival artwork.
  • Playboy went private in 2011 but reemerged with a focus on lifestyle and sexual health.

Playboy’s stock has been on a tear as investors cheer the adult entertainment company’s reinvention and foray into non-fungible tokens.

Playboy’s parent PLBY Group has skyrocketed 143% since the company’s public debut via SPAC on February 11. The stock hit an all-time-high of $44.50 last week but has pulled back to around $32 as of Tuesday.

Earlier this month, Playboy announced its partnering with online NFT marketplace Nifty Gateway to offer investors a chance to buy fractional shares of Playboy’s digital artwork.

Playboy told Insider’s Kari McMahon it plans to use the partnership to showcase its art photography archive and release original works from artists on Nifty’s blockchain marketplace.

While Playboy is most known for its provocative centerfold images and magazine covers, the company also owns works from artists including Pablo Picasso, Salvador Dali, and Andy Warhol, McMahon reported.

Playboy went private in 2011 amid declining ad sales but rejoined public markets this year with a focus on reshaping its iconic brand. The NFT launch appears to be part of a broader effort by Playboy to pivot its adult entertainment brand to a brand focused on lifestyle and sexual health.The PLBY investor relations homepage reads:

“Our mission – to create a culture where all people can pursue pleasure – builds upon nearly seven decades of fighting for cultural progress rooted in the core values of equality, freedom of expression, and the conviction that pleasure is a fundamental human right.”

Playboy also said it’s preparing a THC-based cannabis line for launch upon regulatory approval, and building out its cosmetics, apparel, and gaming businesses.

Source: Markets InsiderPlayboy is up 143% since going public via SPAC this year as the adult lifestyle brand lures investors with pivot to NFTs

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Source: https://spacfeed.com/playboy-is-up-143-since-going-public-via-spac-this-year-as-the-adult-lifestyle-brand-lures-investors-with-pivot-to-nfts?utm_source=rss&utm_medium=rss&utm_campaign=playboy-is-up-143-since-going-public-via-spac-this-year-as-the-adult-lifestyle-brand-lures-investors-with-pivot-to-nfts

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Cannabis

Playboy is up 143% since going public via SPAC this year as the adult lifestyle brand lures investors with pivot to NFTs

Avatar

Published

on

  • Shares of Playboy’s owner PLBY have surged roughly 143% since the company’s public debut in February.
  • Playboy is partnering with NFT marketplace Nifty Gateway to offer investors a chance to buy fractional shares of Playboy’s archival artwork.
  • Playboy went private in 2011 but reemerged with a focus on lifestyle and sexual health.

Playboy’s stock has been on a tear as investors cheer the adult entertainment company’s reinvention and foray into non-fungible tokens.

Playboy’s parent PLBY Group has skyrocketed 143% since the company’s public debut via SPAC on February 11. The stock hit an all-time-high of $44.50 last week but has pulled back to around $32 as of Tuesday.

Earlier this month, Playboy announced its partnering with online NFT marketplace Nifty Gateway to offer investors a chance to buy fractional shares of Playboy’s digital artwork.

Playboy told Insider’s Kari McMahon it plans to use the partnership to showcase its art photography archive and release original works from artists on Nifty’s blockchain marketplace.

While Playboy is most known for its provocative centerfold images and magazine covers, the company also owns works from artists including Pablo Picasso, Salvador Dali, and Andy Warhol, McMahon reported.

Playboy went private in 2011 amid declining ad sales but rejoined public markets this year with a focus on reshaping its iconic brand. The NFT launch appears to be part of a broader effort by Playboy to pivot its adult entertainment brand to a brand focused on lifestyle and sexual health.The PLBY investor relations homepage reads:

“Our mission – to create a culture where all people can pursue pleasure – builds upon nearly seven decades of fighting for cultural progress rooted in the core values of equality, freedom of expression, and the conviction that pleasure is a fundamental human right.”

Playboy also said it’s preparing a THC-based cannabis line for launch upon regulatory approval, and building out its cosmetics, apparel, and gaming businesses.

Source: Markets Insider- Playboy is up 143% since going public via SPAC this year as the adult lifestyle brand lures investors with pivot to NFTs

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://spacfeed.com/playboy-is-up-143-since-going-public-via-spac-this-year-as-the-adult-lifestyle-brand-lures-investors-with-pivot-to-nfts?utm_source=rss&utm_medium=rss&utm_campaign=playboy-is-up-143-since-going-public-via-spac-this-year-as-the-adult-lifestyle-brand-lures-investors-with-pivot-to-nfts

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