but nft's soaring popularity has also raised concerns.are calling it just another commercially affordable harry up, where others point to suspicions of washed trading. it was also the ecological impact. still, that is not phasing artists and collectors. >> i am excited about the whole phenomenon at the moment. it is a new field, a new playing field, and i am out there playing and experimenting. >> i think the world is really ready for promoting digital artists, trying to understand what is nft, and the galleries are getting ready to jump into nfts as well. emily: that was bloomberg quicktake's stella ko. that does it for this edition of "bloomberg technology." make sure you tune in tomorrow. we will be joined by a couple of ceos including the cofounder and general partner at e capital group. i am emily chang in san francisco. this is bloomberg. ♪ it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been

nft soaring popularity has raised concerns.credits are calling it just another commercially exploitable hype, while others point to suspicions of wash trading. still, that is not phasing artists and collectors. >> i am excited about the -- going with this phenomenon. it is a new playing field and experiment. >> the world is ready for promoting digital artists, trying to understand nft and the government is ready to jump in as well. emily: that was bloomberg quicktake. that does it for this edition of bloomberg technology. be sure you tune in tomorrow where we will be joined with -- joined by the cofounder and general partner at e capital group. it will be an exciting show. this is bloomberg. ♪ >> good morning and welcome to delbert -- daybreak australia. >> we are counting down to asia's major market open. shery: the top stories this hour. u.s. stocks rise as progress on debt talks and concern over the global energy crunchies. >> the u.s. senate get set to vote on a short-term

that makes it hard to sell nft's.rested if that stance softens, but as it stands, we have to wait and see what marvel and pc-tel everybody. >> why do you think the issue is this bad? if i can sell the physical original, why can't i sell it in a digital format? >> over the years, because artists have moved to a digital platform, that hurts them in terms of selling artwork because they don't have physical artwork to sell. if that difference can be bridged, they can effectively sell nft's, then it will change things dramatically. if marvel and d.c. soften their attitudes towards nft's, i think the marketplace opens. some of those pieces could be sold for thousands. >> as we left the warehouse, it became evident that nft's are a new frontier. but simply put, they are a way for artists to make more money. >> what i wanted to do was a proof of concept. that is the only way i can show to do that was to burn my own artwork, which in its own way was cathartic. it sold for $182,000. and i am watching the oxen and i was like, wh

the word nft does not show up.s only after you get it that you start learning about the technology. you look into the transparency of the marketplace when you want to sell something. wait a second? ebay does not have this. i can't look at every trading card or work of art and see who owns it, how many times it was traded, how much it was bought for, sold for, and who is interested in it, but all of that is transparent on the blockchain, so that is when people start learning about, oh wait, that is what blockchain's. that is how it should be. the technology should be in the background, not in people's faces. caroline: interesting. we only have one minute or so left. demographics, however using that expand? you hear the ultra-wealthy, art collectors, but is the younger generation educating themselves? what financial literacy around nft is growing? roham: the younger generation thinks that volatility and investing in a different way. gamestop and amc are evidence of that. it is almost a social movement. not just an an

what exactly counts as a rare specimen in nfts?ink rare specimens, we categorize it as -- that are less than 1% of a collection. that is specifically for what we determine as psp projects, which are avatars, but there are one on ones that are obviously super rare. ones that are older from an og perspective, i guess is the terminology, as well. emily: what prompted you to start the fund? what is the end goal? >> the end goal for this vehicle is to acquire the rare specimen of nfts. for us, we look at this like an address in time when we are shifting to web 3.0. the assets we are acquiring have historical significance. there is an antiquity aspect to it that we really like. emily: how do you see this as helping artists have more ownership of their creations? >> this traces back to the idea of web 2.0 and web 3.0. using big tech as an example. all of our data is getting repackaged and sold whether it be by facebook, google or whoever. in web 3.0, we have a decentralized system that allows the creator to benefit off the activity they a

say coinbase nft will be a marketplace for minting, buying and discovery nfts it said it's supportingased standards nft are essentially digital collectibles, have taken off this year. this is the latest move by the company to differentiate in a crypto field with robin hood, square and others it also may be a way to diversify away from trading revenue and adds pressure to open c there are others that it adds pressure to. coinbase was almost 3% lower this comes after coinbase disclosed some issues with transfers. there are still issues with certain bank transfers, withdrawals and trades they say they identify the issues with what they say are stuck transactions no word from the company on what is causing that. >> do you think that the likes of square or papal will go into that that seems like a foregone conclusion >> coinbase is following and catching up to other plat fform, but jack dorsey is bullish on it it seems like coinbase will test it out i am sure the scale is making a lot of these other players bullish. >> i think kate nailed it. it is coming after there was a tweet that talke

. >> coinbase is launching its own platform they say coinbase nfts will be a marketplace for minting, buying and discovering nfts it plans to add social features and talks about making the buying process easier. it's supporting ethereum based standards and will add other block chains down the road they're starting with a wait list nfts have really taken off this year they're essentially digital collectibles it's the latest move by the company to differentiate in a pretty crowded crypto trading field. competition is heating up with robinhood, square, sofi and others it's another way for the company to diversify revenue and adds competitive pressure to open seed, which is still a private company right now. the move comes amid more regulatory scrutiny for the industry coinbase saw that firsthand last month when the sec threatened to sue the company over its proposed crypto lending program. today, coinbase is seeing delays on its platforms with transfers, buys, sells, deposits, withdrawals and some trades. we're keeping an eye on that >> any explanation from the company as to what's causi

jill: solana has been investing heavily in the nft ecosystem. ftx, one of the major crypto exchanges, ftx u.s. just announced their own foray into the nft space, so a competitor to the likes of opensea, which is more ethereum focused. ftx will be basing this marketplace on solana, so that is another bullish signal around the protocol. so that is exciting. it comes back to what developers want, what end-users want which , at least relative to ethereum, is increased scalability, increase in through-put and the ability to get transactions to the system, and also, of course, as ever, lower fees which is always a hot topic of conversation whenever these things take off within ethereum. caroline: of course. the ftx ceo has liked solana for a little while as well. jill, great to have time with you. stay well. cofounder of the open money initiative pennsylvania shows principal. meanwhile, let's talk about robinhood. it is feeling the heat. there is a looming share sale by early investors. also, remember, the whole regulatory environment for crypto is be

jason mentioned nfts are superhot.technology behind nfts. i think it is smart to look at alternative chains to ethereum that support the nft growth. there are a lot of great projects. support ones that support nfts. dive down the rabbit holes. see which projects help those systems grow and bet on those. charles: jason i talked about the suits coming into this. climbing on the bandwagon, you see them on financial television explaining all of this now. of course they were dissing this whole thing a couple years ago. on that note citadel's founder slammed cryptocurrency. he said it is jihadist action against dollar. he said if the youngsters had passion towards crypto would make the united states stronger. what is he missing? you sort of talked about this. this is the attitude. does this make the united states stronger. >> i don't ask my grandmother what the next great cell phone technology is. when i hear these guys, the bubble gang participants, where is peter schiff? charles: [laughter]. we got to get you and peter bac

i don't understand the nft thing, i don't understand the metaverse but you can use your nft while drinkingany of this. >> i did too >> are we crazy? i can't figure out like are we crazy or are they crazy? >> it's like blue pill, red pill, going to the matrix. >> i don't know. i just feel like a curmudgeon lately >>> still up, president biden headed to the hill to get the economic agenda finalized. we're live in washington with the latest. >>> if you haven't already, follow the podcast if you missed "worldwide exchange" check us out on apple, spotify or other 'lbeigasap wel rht back. what if you coule the perspective to see more? at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley. nurse mariyam sabo knows a moment this pure... ...demands a lotion this pure. new gold bond pure moisture

what about nfts?play into this and people never thought about sports cards and then got into nft for the sports nfts and then, wait, i might as well get back into the sports trading cards so i think nfts led people back into the tangible analog things. >> we hear there's a second facebook whistle-blower to go with the woman that appeared on "60 minutes. >> we don't have the name yet but alleges that facebook allowed hate and illegal activity to go unchecked back to you. >> obviously the company themselves hinted more could be coming on twitter this week. >> julia, thank you. >> thank you for watching "power lunch. get the digital baseball cards. >> have a great weekend. >> you, too. "closing bell" starts right now. >>> happy friday, everybody! welcome to "closing bell." i'm sara eisen at the new york stock exchange another mixed session on wall street trying for an eighth win in a row and the nasdaq also pulling back dow positive still near record levels. >> holding up reasonably well. i'm mike santol

right now nft's are very much focused on art -- [inaudible]. using ntf's. i think it is still a really early space but one again where there's tremendous growth for multiple different types of opportunities, whether it's new brands, legacy brands, a lot of space. >> charles: i only got 40 seconds. i've got to give scott the last word. scott, she mentioned the [inaudible]. it sounds like you and me will be stuck outside the meta verse fishing. are you going to jump in any of this? equities, coin base, any other way you will get exposure to the space? >> we have some clients that have some of the blcn, block chain. those are good if you want that exposure if you want. you get exposure to the coins to coin base, trade the exact coins. gucci and all those, at least they are unpreventable that way. [inaudible]. >> charles: got to leave it that way. lauren, indecisive session, but momentum going into the last hour of trading. >> i like it. i heard gucci. that was the last thing i heard. i will take that. charles payne, have a great weekend. ::

although not illegal, nfts are considered a gray area in china, where crypto trading has been banned.lackstone is targeting the rich through wealth managers, private banks, and family offices. it is planning to double its team focused on high net worth individuals. blackstone set up its private wealth team a decade ago, and its asian business has a target of raising $250 billion by 2027. haidi: taking a look at the day ahead for australia and new zealand starting off in new zealand, it posted a record beat in september as imports surged. data for the third quarter is likely to show inflation eased. quarterly trading updates show higher sales in both australia and new zealand year-on-year. however, the outlook remains uncertain, challenges could come with the upcoming christmas season. next, our conversation with former australian prime minister malcolm turnbull about emissions target. this is bloomberg. ♪ moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know

neil: someone took a picture on the set, nft us? susan: nft us.s for a cartoon ape? neil: let me ask, 30 bucks? no. the pretty dicey. susan: really. neil: sorry. well, thanks that was a great report. she is right. i don't know if they ever call it a market top, anything happens they will trace back to this time a lot of this stuff was going on. maybe they won't. they will say it is still going on. but i doubt that. we're up 500 points right now. more after this. as someone who resembles someone else... i appreciate that liberty mutual knows everyone's unique. that's why they customize your car insurance, so you only pay for what you need. [ nautical horn blows ] i mean just because you look like someone else doesn't mean you eat off the floor, or yell at the vacuum, or need flea medication. oh, yeah. that's the spot. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ i looked on ancestry and just started digging and found some really cool stuff... it was just a lot of fun. just to talk to my parents about it and to send it to my gr

we have blue chip nfts on rally.n 23ts with the headlines and proven themselves it can't be done with crypto or linking a wallet we want to make that on-ramp as accessible as possible seeing new investors coming to rally to invest in something they understand and first time and to do that with cash and investing capital is unique. for us building the on-ramps is what we want to do this is a big value added for investors. >> i mentioned some of the investors, kd, bill simmons, john stamos. celebrities are the new venture capitalists. how do you tack advantage of this to get the word out about the company? >> for us having the team and kevin durant and bill simmons part of the table is bigger than the investor or the celebrity name on a piece of paper for us they are collectors and proven with the expertise in the individual domain. to bring them in to educate and build the on-ramps and with the wheelhouse team to think about a television show, podcast, more live con thtent with names and faces that people recogniz tak

i mean, i think as you think about nfts and crypto and mention those, the truth is epic games is onepartners, equity holder in our company and serve on our board they're creating the metaverse all of this will live in. i have a 13-year-old daughter who this idea that there's a metaverse, what is it? it's not -- it's normal. i have a digital life with a house and an animal and pets and i have my real life with my friends and things so those worlds merging and the creation of the metaverse is where all is this will live, digital currency, nfts, all this we'll absolutely be on the forefront of all that with our partnership with epic. >> fascinating please come back you have your hand in everything. >> absolutely. i will. >> great to see you, man. >> thank you for having me >> thank you, jon and julia. >>> products you may or may not like if you're a third party retailer amazon pushing their own products to the top of the search list. washington looks to take legal action >>> plus, watch shares of gogo hit hard by elon musk tweet where the tesla ceo said he's talking to airlines about in

know it seems like a bit of a stretch, but what they reported was terrific >> todd, nfts are for 10 that understands it it is certainly not me >> i'm 42 and i'm just catching up with it, kelly. look, i think, first, we have to let the technicals kind of pull into the fundamentals. it has been an underperforming market as you said if you look at a nice little consolidation this year, until we get above 20, 22 and a half, i wouldn't check it. you have to let the technicals take you in. bob said they were proactive securing their supply chains, they made room in ocean freights to get product here, they've embraced an online ecommerce strategy to go direct to consumers and barbie hot wheels still very popular hasbro was a strong competitor, trades at higher pe, better free cash flow. i would watch the competition. it is kind of a no-touch for me. street's predicting about $1.32 next year, which puts it at about a 15.64 multiple, so not really expensive again, kind of a boring chart. no opportunity for me here >> gina, a quick word. would you own it here? >> i actually would. i think it

nft auction, i haven't seen many transactions conducted with crypto that said, i don't know how anyonehe other day the bulk traded on robin hood was in doge coin that exist only as a joke a joke where the whole concept is the punch line. people love it for musk factor and it's only 30 cents today they shot down a leverage bitcoin etf. it would have been nuts. most have been disaster for home gamers as long as you recognize the very real possibility the whole investment case for crypto rest in greater full theory, you have to speculate on it i'll take the eagles and give them three and a half on sunday. i don't have any particular attachment and i'll ring the register on the rest of my position when i think it's going liar by all means speculate on your favorite crypto currency that's what i'm doing but do it like an investor and not fan i like to say there's always a bull market summer i promise you i'd find it for you. see you tomorrow the news starts now. >>> former new york governor andrew cuomo charged with a sex crime. i'm kelly evans in shepard smith. this is "the news" on cnbc t

nft's, a lot think there's a bubble there. there certainly elements of it.nk will look back in 3-5 years and it will be much bigger market than it is today. it means for nft's about what the launch of a bitcoin futures etf means for bitcoin. it's an important move. emily: a good comparison, matt. always good to have you here. goldman sachs was the first big u.s. bank to enter the crypto market, back in 2017 when lloyd blankfein was ceo. now it is impressed that he is impressed by its resilience as an asset. his thinking and talks about the need for regulating it. >> a lot of bright people think it has a bright future. i'm telling you, i'm into the old world and it's not something that i gravitate to. i can think of a lot of reasons why won't work, but i remember when they were auctioning off spectrum to cell phones and saying why would anyone need a cell phone? you just drive in your car and pull up to a phone booth. who would carry that clunky thing? there are a lot of things in this world that have worked out awfully well. >> you sound pretty constructive

and while they largely still trade with the price of bitcoin, they made this big announcement about nftser day i think open seed is the market leader how big do you think the market could get for coinbase >> well, they haven't launched it yet, the company you just mentioned i believe has somewhere around you know, 45,000 accounts or active users. when you look at coinbase, they have 7, you know, around 7.5 million active users so we think giving the sort of the customer base, this could be a big opportunity. and just coinbase overall, i think this nft market is you know, what it is, it's in the market for crypto. anything positive for crypto and crypto credibility, which we think this etf points to that, and there will be other futures etfs we think about five over the next several weeks that will begin to trade so anything that legitimizes bitcoin and crypto currency we think in the long-term is good for coinbase >> thank you very much for being with us. you can read more about coinbase and some of the other biggest analyst calls of the day by going to cnbc.com/pro. >> and after the bre

content creation they go the next step into nft crypto >> their own currency. >> if this is sanctioned by them c they could reap the rewards. >> that's what i'm saying. >> but if they're not, this is almost like a piracy >> first they ignore you then they laugh at you then they copy you then you win >> i'm feeling left out of this. >> have a great weekend, guys. thanks for watching, everybody closing bell starts now. >>> big fan of squid games welcome to closing bell. last trading day in a strong month for the market the stocks are at their best levels of the session as we head into the final hour of trade >> we look at what's driving the action the nasdaq closing out a wild earnings week with losses from amazon and apple offset by gains today for facebook, microsoft and tesla. chevron is higher on earnings with the energy sector pacing for a double digit pop on the month and crypto is capping out of a strong month as well. bitcoin is u

there's clear excitement for the etf, for the adoption we're seeing even in trends like nfts but the inflation hedge is another concern for many investors and many investors are coming to bitcoin because of that. >> whenever we speak about bitcoin who invest in more traditional assets one of the critiques of crypto is it doesn't move on fundamentals it can move for technical reasons or reasons many of us have a hard time figuring out what the impetus is for the move do you agree with that or do you think that the more and more we're talking about bitcoin the more and more it could be used as something like an inflation hedge, the more reasons it has to move for fundamental factors? >> so the main reasons we see for price changes in bitcoin are typically around adoption or around new technical advances and between both of those, any announcement, like this etf that gets greater adoption and signals strong market movement is going to signal price but you can see, the fundamentals for bitcoin, this is open source money, the fundamentals are really the technical changes. you can see thes

in this bull market where the joke -- you know, the old line from last year, stocks never go down nfts0,000, who is to say whether it is going to pay off or not i hear people passionately speaking about how much the tokens will be worth in the future in the meta verse it could be years or decades before we know if it is true or not. >> in a bull market it is easy to make a right call, to make a good trade, right. we won't know, that's the truth. if you look at the meme stocks or doj for instance, some people made a for tour on all of this if you got in at the top because you are following the crowd you aren't so lucky. >> i still have a lot to learn about all of this going on here. >> the metaverse >> yes >> the look of incred ulity is amazing. >> can i stream this >> yes >> be sure to catch the premiere of "generation gamble" tonight here on cnbc at 8:00 we need a qr code for that as well melissa, we appreciate it. still ahead, the esg investing trend is extending beyond stocks green muni bonds have seen an up tick in popularity speaking of regulators, senator elizabeth warren joins "

how about nfts and blockchain technology they're proving out the concepts before our eyes.arket, but beyond that let's go to games let's go to play-to-earn blockchain gaming, speaking of daily active users, over a million active users a day, an $8 billion company go to artists again, i will point over my shoulder the artist that rhymes with duck render, he is building out his most recent project which involves crystals like these, cost over $30 million. that's one single artist >> it is beautiful behind you. i can see the hand holding the crystal. it is moving and shimmering. if i own something like this in the metaverse, whose metaverse is that and where is facebook in all of this? >> this is the most fascinating question, right. this is a land grab right now. we have smaller metaverse companies trying to pave their way like decentralland, for example, a nice call out there >> light >> now you have those like facebook who see an opportunity, they see the writing on the wall, they see the billions of dollars, they see a way to own the digital assets in the form of nfts, now

let's talk about coin base and nft platform.dy? stuart: the platform overloaded. >> coin base has 66 million customers, nfts are booming, a $10 billion business in the third quarter, $10 billion, that is a 2000% increase. everybody is getting in on it. the largest crypto exchange could be worth $9 billion and sales volume a month. do we have those pictures of the nfts but sold for astronomical amounts? stuart: the nfts of done very well. >> there is one called boring apes which is a colorful cartoonish picture of an ape that sold for $1 million, a digital picture. >> you can't put it on the wall. >> the point is it is verified and you own it. selling for these, 3000 in march, a little expensive. stuart: $1.5 million. >> i really missed out on that. here it is. what do you think it is. $1.5 million. stuart: for that, just a digital image. >> it is rare, collectible. i think i've got it. dr barton, this guy, right hand side of the screen thinks this is going to be a melt up by christmas. they built up for the stock market, a huge

is that good or bad for the nft market?t's yours. roll it. >> so many people across the country are purchasing more goods online and that is leading to a massive increase in volume. stuart: see, it is all the stuff that you want to buy. ceo of overstock is on the show. i will ask him if he agrees with jen psaki. ♪. our retirement plan with voya, keeps us moving forward. hey, kevin! hey, guys! they have customized solutions to help our family's special needs... hey, graduation selfie! well done! and voya stays by our side, keeping us on track for retirement... ...giving us confidence in our future... ...and in kevin's. you ready for your first day on the job? i was born ready. go get 'em, kev. well planned. well invested. well protected. voya. be confident to and through retirement. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire ♪ say it's all right

interesting idea it's a modern take on old art opposed to the sort of nft craze which is totally new.esis and tech enabled classes and the peers in the venture and growth equity world pursuing things whether felt faddish or smaller ranging from pokemon cards or wine and farm land and i think those can be viable but the research comes back to contemporary fine art. historically inaccessible to anyone and constituency and institutional works and this is the first ties to the inaccessible asset class and a special opportunity and scott and the team the ceo and the team there are extraordinary and found the founder product market fit is second to none so we were privileged to work with them and consumed the summer was prospecting and working on that. everyone else on vacation we were hard at work preefforting that. >> as you say everybody wants a piece of everything and this fractionalization of securities and sneakers and art and just everything memorabilia exploded as the quest to demock ra tiz moved forward. how do you know that's not a bubble or a sign of the exess going on in thedemo

. >> how much does this relate to the world of nfts and people are thinking of music as nfts? issue? >> it's a separate opportunity okay that, you know, what's taken place in crypto and block chains and nfts are unlocking value for artists. so typically, artists they have to find a record company in order to find an audience. now they find an audience before they find a record company so they can retain their rights, get paid in different, choose how they want to get paid and always maintain control, own their future, which is something that has never taken place historically in the music business >> in terms of what's happened to concerts and the like, how has it changed the dynamic around both leed needing a label. not leed needing a label i would assume it was great for your business? >> labels are closed listen to this, it's unbelievable now artists have to wait six months to get paid. when you look at the invoice and the statement, the transparency, car, ride, this, that and the third, you have to unpack it i've never seen an artist do an audit and fought make money, they

there are the technology and funds that want to invest in the nft platform, and then there are the specter-- speculators with the new meme coin. it is all part of the crypto world right now, and it is what makes it so interesting and exciting. i don't think it would be the last one. emily: how would you compare it to dogecoin? michael: i have no opinion about one coin versus another coin. i stay in my lane, emily. bitcoin. that does it for this edition of "bloomberg technology." emily: so, look. michael: bitcoin is my lane. emily: let's talk about your bitcoin lane. we have seen a massive crackdown in china. we are expecting waves from that shock to impact the bitcoin ecosystem in the u.s. one of the interesting things we have been talking about is the talent flow out of cryptocurrency companies because u.s. regulation has remained uncertain, and there are these other companies that potentially have more certainty. do you think that will have a negative impact on the industry and the enthusiasm we have seen over the last couple of years? michael: well, i think the china crackdown was the b

caroline: and nft social network you call it, diamond hands is your pseudonym.nterested in why this helps against misinformation and content that is not uplifting. sometimes being divisive gets you more likes and can incentivize people to earn more money. nader: absolutely. if you look at content today, it is a monopoly by a handful of companies and when misinformation is spreading, we, the public, the government have very little transparency into how and why it is spreading. private companies are often misaligned in that they make more money when misinformation spreads because they can show more ads and more effective ads on misinformation or truth. we have put that on its head and made it utility anyone can build on. and suddenly the best machine learners in the world without asking for facebook's permission can build strong models to bind harmful comment -- content we have access to today and there is more transparency. even the federal government can be involved in watching the spread of misinformation when the content is an open utility, and doing something

emily: there are thousands of nft projects. how will you cut through the hype and rise above?are your typical risks you would see from any sort of venture capital fund. whether they are tracking how many twitter users or folks on discord or what the demand is like when -- when there is an actual drop. we look at data points like that but really, there is more art than science. this is arch to some degree and beauty is in the eye of the beholder. thinking back to sneaker culture where your traditional collectibles, or whether you collected baseball cards or beanie babies, there is certainly some aspect of that here. there is something for everybody, which i think is so attractive about and fts. there is something for everyone. once you do start collecting, and once groups like coinbase who are doing their own marketplaces make it easy for someone to acquire these, i think you will start to see it proliferating even more. emily: we will keep our eye on you. brandon buchanan, thank you for joining us. we've got plenty more coming up. let's take a look at tesla, which closed at a

an artist in argentina used a bomb to blow up his painting so they only exist as digital nft but if younew sopranos movie from the works of landro being wired with explosives. he picked it up from watching youtube videos. he's telling his work as an fts which are virtual files they can only be accessed through the crystal ball of the psychic life coach. now he's designed them so the digital work is truly one-of-a-kind. bang back. ♪♪ oh say can you see ♪ ♪. kennedy: i've seen an artist self-destruct like that johnny depp. you know what they say, when it comes to art, it's in the eye of the beholder. now they are only available online. they are sold for $70000 combined encryptor critique which equals 12 -- 20000-point depending on what time of day it is. i'm rich, i'm broke. topic number three. are you tired of waiting until lunch to ruin your day? now you can poison yourself first thing in the morning with a brand-new office treat. wendy's frosty's cereal, the only serial official classified as a comorbidity. chocolate flavored promotional pieces and 60 koco bites in combination with the

quite based nft nonportable token but quite itself has been on a tear, moderating just a bit over the last 24 hours down 1450 weber stated that 95% year-to-date and considering sub 30000 recently as july it's much closer to touching all-time high in april of around 64000 the huge tailwind the sec approved the very bitcoin focused etf to a name not known like wisdom tree and some other names, we have the fund manager who pulled it off in just a few minutes. forget the snowbirds big business flying south to set a permanent shop one of the leading real estate executives is here to tell us how the sunshine state is now dealing with the boom in commercial real estate and warehouse space and it's not just in palm beach and miami the closing bell ringing and 49 minutes the dow is down 52 points and "the claman countdown" is taking you to florida next. ♪ (sfx: video game vehicle noises, horns beeping,) (engines revving, cars hitting one another.) (sfx: continued vehicle calamity.) just think, he'll be driving for real soon. every new chevy equinox comes standard with chevy safety assist, incl

ethereum because we think there's an ethereum alternative, a cheaper, more efficient way to access nfts platform and our assets for those protocols are increasing every single day >> interesting so i guess as we head into the end of the year and beyond, i mean we just had fidelity on yesterday and they're talking about the possibility of bitcoin hitting $100,000 where do you see it going? >> interesting question because i said it was going to be $100,000 six to eight weeks ago and i still believe in that, i believe that bitcoin will be at $100,000 by the end of the year. we're seeing that increase in price, and i'm -- i am well behind $100,000 price target by the end of the year. >> all right we'll see. we'll see how volatile it is if it does, indeed, get there we appreciate it >> thanks for having me. >>> coming up on "tech check" a big show including an interview with lebron james business partner maverick carter with his company getting funding from nike, epic games and others. on ipo watch, software development getlab going public in the nasdaq and the ceo will jo us. "squawk on the

the agenda includes advocating for risk-base regulation for example, nfts probably don't need the sameunt of scrutiny as stable coins and the sec or any of the existing agencies may not be right for the job >> we think it's going to be important to recognize the great diversity of use cases and applications in the space. understand that this technology is not a monolith, and do what we can to get regulation that is fit for purpose for 21st century technologies >> a16z wants washington to create a regulatory sandbox, update disclosure requirements and get better guidance on tax rules. >> there are likely few areas that will be more consequential in determining the long-term success of a country in the 21st century than the quality of its digital infrastructure and in the united states right now we're not only losing this race, but it's unclear that many of our policymakers even recognize that there is a competition under way. >> now remember, the battle of the summer over irs reporting requirements galvanized the industry into action and now a16z says it's in this fight for the long hau

. >> the collection will be sold in the form of an nft or non-fungible token, which is a crypto assetigital art distinctive and unique. the whole collection may touch nearly 2 million at the end of the online auction on monday. >>> that's it for me in atlanta. thanks so much for joining neon cnn "newsroom." . bipolar depression. it made me feel like i was trapped in a fog. this is art inspired by real stories of people living with bipolar depression. i just couldn't find my way out of it. the lows of bipolar depression can take you to a dark place... ...and be hard to manage. latuda could make a real difference in your symptoms. latuda was proven to significantly reduce bipolar depression symptoms and in clinical studies, had no substantial impact on weight. this is where i want to be. latuda is not for everyone. call your doctor about unusual mood changes, behaviors, or suicidal thoughts. antidepressants can increase these in children, teens, and young adults. elderly dementia patients on latuda have an increased risk of death or stroke. call your doctor about fever, stiff muscles, a

that's how much nft trading volumes hit last quarter according to data from dat radar. that's a 704% increase over the prior quarter. it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. >>> all right. that's a live shot of times square in new york city. manhattan, things are just getting going it's 5:18 a.m. eastern time just a little over maybe half an hour, 45 minutes away from the start of "squawk box." they're in times square. let's check the other top headlines we go to phillip mena in new york with the latest there. good morning. >> good morning. we'll start with the deadly flash flooding that has left entire communities i

technology is new, so we don't have anything up to date on things like virtual reality orbit coin or nftsen without the whistleblower report we knew algorithms change what we see online. so we have the data, we have the research. what we need now is actual efforts on the part of lawmakers to make actual change. section 230 is one thing they could be working on, but a lot of proposals are not attacking the root of the problem, which is the privacy and data and potentially maybe looking a little bit at the anti-trust and anti-competitiveness we see as well. >> our colleague stephanie ruhle had facebook's global head of safety antigone davis on. >> i think people ultimately would like to see some regulation. we have discomfort in owning the entire problem and would like to see regulation as well. >> and here's the thing. facebook says it wants to be regulated. last week the head of instagram told me they're open to regulation. i got the impression they just want to make sure they're not the only ones being regulated, that it's not just their platforms, that it's social media in general. what

are there going to be nft's associated with this?e are taking the position that the way this has gone up and the way we have seen bitcoin come down from some of the highs, we are prepared to see similar downward pressure on shib. emily: we will see what tomorrow brings. thank you so much. facebook could have a new name in the next 24 hours. the company is expected to reveal a new moniker that signals its meta-verse ambitions. will it be enough to spin the new cycle away from the troubling facebook file? i want to bring in our reporter who covers facebook. we are not going to let the news cycle just spin away but what are you expecting to hear from facebook tomorrow? >> not a lot has been made officially public about what facebook plans to announce. there was some reporting elsewhere that facebook was considering a new name tomorrow. but i think what we can definitely expect is, whether there is a new name, facebook is going to be making the case that this is not a company that is just focused on social media. this is a company that w

so a lot of people are talking about nfts, which is essentially digital art, right?m. and so for a lot of people, you know, that's an exciting opportunity to buy these al alternative assets. again, it's anti-establishment, it's not regulated by any one institution. >> well, it's not regulated but something that -- sorry to interrupt you, we're running out of time, but it's also something that surprised me about this. this is something that's really appealing to young people but it's terrible for the environment. young people care about the environment, so these two interests to be competing, i don't think enough people know it's horrible for the environment. >> that's right because in essence you're paying what we call a gas fee, which is a mining and transaction fee to actually not only get the bitcoin but then if you are making a transaction, for example, for an nft, you have to pay fees to put that up onto the block chain, and it's essentially like crude oil, right? you've got to pay to mine it, and then you've got to clean it and then you've got to transport it a

the coinbase will move into wallets, nfts lending and proactive approach to regulation by the recentin mind at the moment it went public in april. the high is $409. bitcoin is down $238. ethereum higher by just a fraction. litecoin down just a fraction. we do have xrp moving higher by 2%. a buck 11. >>> the race for runup supremacy since the pandemic lows, talking about indexes the nasdaq appears to have the lead. dow up 92% since march 23rd lows of 2020. s&p seeing a gain of 105. nasdaq up 124%. but the come from behind winner, the little guys, the russell 2000 small and mid-caps with a gain of 133% since the march 2020 low. let's bring in brian smollett. river capital management with some of his favorite names. semiconductor timing company. i looked at this. we were talking about price to earnings ratios this hour, 73, that is kind of rich, is it not but you love it? >> it is expensive at 73 times earnings. what we like in small caps those earnings estimates looking out 12 to 24 months could be really inefficient. this one is inefficient. the whole market of timing device are movin

now they'll get involved with nfts and staking and pre-paid credit cards and i just feel like if you'llon adoption this is the eastiest bet that you can make and it will have a handle >> let's move to best buy, reiterate at overweight. stephanie link, you own that company's stock. >> yeah. i thought they've done a good job in terms of execution throughout covid and supply chain issues they've laid off people and they have tough comparisons ahead for gross margins and same-store sales. i kind of think that's in the stock at 12 times earnings, but that's just something to be mindful of i'm keeping a little bit of powder dry so i can add if there's any disruption because i do like the long-term story and this management has done a phenomenal job >> disney gets reiterated market perform and price target remains 195. i told you in the last two, three weeks, chramer's charitabe trust, degas, you own it and there's the stock at 170 >> yes so what we're seeing is definitely a market perform for disney the streaming service will be the laggard for disney, but the re-open play into the part is wh

you're seeing it within nft's, seeing it with gaming, seeing it with file storage and i think for manyals, as well as institutions, there's really now an appreciation that what was once thought to only be currencies or determining or transferring value is really the use case for digital assets, you're starting to see them move into other areas of the market which is causing investors to think about diversifying, so not with any particular token that would call out, but this is definitely exciting to see as the market develops. liz: well i would think so because as you start to see the approval of at least two , the pro-shares, etf which is sort of a step for step matching, the bitcoin futures market and same with the btf, you really are seeing an inch-by -inch approval, i guess, by the sec. tell me where you stand with your move in the sec because yours be the very first that would actually reflect, track the bitcoin itself. >> well this is a really important topic, so for a lot of investors, there's certainly been no shortage of enthusiasm or excitement in gaming exposure to bitcoin,

the environment is here for not just the creative aspect but creating nfts here in the middle east. a chance to get out there. you see all activity across the board. charles: ray, to that point is our government too resistant? i'm a self-admitted ludite. i have got an excuse. our government feels like they're so inintimidated by these things, blockchain, crypto. all you hear about is regulations and eye recking walls. could we miss out on the biggest thing that will happen in the world over the next decade or two? >> i think we might but i think from the regulatory side, the good news they're not adding regulations at the moment. they're talking about it, which is better than other countries that are actually putting regulations in. but we sometimes need some regulations to actually legitimatize the market, right? so here, for example in dubai you see a lot of investment by the government in empowerment zones. these are industrial centers. these development centers where a lot of this is happening. charles: right. >> companies like vu thin, color star, morro, are launching metaverse

not real bitcoin, but what we don't know is how those are going to perform i just saw in an article nftay, a reference to overcollateralization of 35% on bitcoin-backed loans, but when the average draw down is 68%, you can see how that map doesn't quite work some that have that kind of leveraged exposure might not survive the next bear market cave caveat emptor, do your homework. so many people have been explaining to investors for free the issues with investing in futures-based etfs, so educate yourself there's no substitute for that >> it would be a wild rideif w have something like a 75% drawdown, which is not what you are saying but kind of directionally hinting it, at sort of how the system is set up caitlin, i appreciate it thank you for your time today and kind of explaining the architecture to us and the latest product we appreciate it >> thank you my pleasure. >> caitlin long is the chair and ceo of evente bank >>> coming up, senate democrats are expected to propose a new threshold for bank accounts to report in flows and outflows to the irs after big blowback we have e te dait

from our intellect ual properties we introduced barbie radio, see opportunities in digital gaming, nftand a lot of other opportunities to capture value in addition to the great work that we do inside the toy -- >> we were worried when the pandemic was going to wind down that we would stop playing games. i'm a rummikub addict. did people find that games were something that was better than what they were doing and are doing it now or even more than during the lockdown period >> you know, toys is an industry that is growing. it's experiential, parents love it, and especially when it comes to quarterly product and trusted brands, they resonate so well with consumers you know, we're seeing consumer demand continuing to grow. we're seeing a lot of momentum in the fourth quarter, and we're off to a great start and we expect to continue growing for the balance of the year, gain market share, and have a strong holiday season very much looking forward to having plenty of toys for children to play with during the holiday period. >> and one of the hottest ones so i can -- our viewers can get a hea

is up about let's call it 5.5%, and so is the tech company created as it plans to offer trump photo nft's fun wear, is down 18% but again it gained as much as 1,400% on friday, so there's a lot of speculation running around the trump spac halo effect. all right, as the biden administration pushes for wider implementation of esg or environmental social governance policies one wall street firm at the forefront could definitely stand to benefit from this shift joining us now, charlie gasparino. charlie, the firm, the name, what is it? charlie: it's blackrock and liz i want to point out that just because you have a confluence of things doesn't mean it's causation. i'm not saying that there's some great thing here, where great scandal here, where the people at blackrock purposely put people in the biden administration to push a certain agenda that's benefiting block rock and these same people hold stock in blackrock that it could all just be a coincidence, but it is happening, and i'll tell you this was happening in the trump adminitration, you'd be reading a lot about this. let's just backup

you say is a key resistance level, you say bitcoin has more room to run that is despite a number of nft 100%, seema if you look at it from an infrastructure standpoint, you're looking at more institutions getting involved. we saw the u.s. bank is offering institutional custody services we're also seeing bank of america implementing research on bitcoin as well. so i think there is still more room to run. you see the bitcoin bailed out in el salvador that seems to be going well with 2 million users. twitter and strike partnership, that's also going to be rolling out. i think that's another use case for bitcoin as well. over the next two months a better news flow than we saw previously and i think that's going to drive a little bit of the momentum and spike forward if we get more price up for more volume in the buying i think that could push us a little bit higher. so i'm still buying. i think it's an opportunity for investors to really do some more due diligence and see if it makes sense for them as well >> bitcoin up 7% today where does it land by year end >> i do think we can get to 60,