�*s. want to spend money off -- on the nft "s— the nft 's.k you for being on _ the nft 's. fascinating thank you for being on the - the nft 's. fascinating thank - you for being on the programme. we appreciate it. before we wrap up the business news, i want to show you financial markets. wall street saw quite serious losses monday and that is being felt today by japan. japan was closed monday for a public holiday but you can see japan down almost 2%. the hang seng down by one third but yesterday hong kong lost quite a bit of ground and this is all to do with the ever grand property company that is laden with debt currently in china. it is really causing ripples. you can see the american markets and how they ended the day on monday. now let's take you live to montreal and the liberal party's election night headquarters. they are all gathered there. we are expecting justin trudeau to address the crowd fairly soon. we're hoping to go live to that he does. of course he has not got the majority government he was seeking when he called a snap elect

college ip and nfts.e cohen is one of the greatest investors. >> when you think about it nfts, what is it? it is this combination of trading and underlying liquidity of sorts, collecting, gimmick fixation, culture, community. it's background -- his background lends itself to that. his team has been incredible. super thoughtful about how they approached the space. have been in the space for a while, just haven't been outward about it, and we are really excited to be partnering with them. emily:. emily: there is a lot of excitement around nfts, but a lot of skepticism as well. i wonder what he and you think about the skepticism that nfts could be just a get rich quick scam. trevor? trevor: i remember when they were saying that years ago. it is funny to see them say that. i was just going to say the idea of digital ownership is here to stay. people collect digital cards or physical cards, pokemon cards, yeezys. for many, the digital world seems intangible. you can't touch it, you can see people grouped in a

only college based ipas is an nft's./ >> he is one of the greatest investors and art collectors of the past century. he understands ipas -- i entities and the meta-versed. -- meta-verse. -- nft's and the meta-verse. his background lent itself to that the team he has formed around him at agile have -- at digital have been incredible. they have been thoughtful about how they approach the space. they have not been outward about it and we are excited to be partnering with them. emily: there is a lot of excitement and skepticism. i wonder what he and you think about the skepticism that nft's could be a get rich scam? >> i remember when they said that. >> -- years ago. sorry, go ahead. >> the idea of digital ownership is here to stay. people collect digital cards or human cards, yeezy's, for many, the digital world seems intangible. you cannot see it or see people grouped in a stadium. there are hundreds of millions of people in the digital world that love and come around and socialize about things they can socialize -- vacant

the nft craze continues.isteners can buy in on a song for their favorite artist and earn royalties with them. we talk to an international dj about his foray into and fts -- nft',s which he thinks are the future of culture. >> to understand bitcoin, you sometimes have to climb very deep down the rabbit hole. ♪ >> conventional wisdom is wrong about bitcoin. consensus in the investment community is that cryptocurrency prices will be hurt by an increase in regulations, while the launch of the u.s. etf can put prices higher. wall this is likely in the short term, the opposite might be true in the long run. to understand why, consider this. it was created in 2008. bitcoin had been a parallel investment universe that led to wild rallies and crashes. it caused some who may have wanted exposure to steer clear. while private investors and hedge funds are able to buy crypto, pension funds, money managers, and banks largely won't know which boxes to take on their compliance documents. if, however, a regulatory environmen

all you have to do is donate and the highest donation will win that specific nft.t is how it will work. kristen: this is a bigger question, do you own the digital -- what is it you own? any file can be replicated. what makes it valuable? >> any file can be replicated. the difference between you replicating the file and other people having the same file versus having the nft, think of it like having a serial number. there are a lot of stephen king books in the world, but very few have an autograph. if you have the nft, you have the original. it says you have the authentic version. that is what makes it valuable. kristen: is this -- you guys on the end of being a nonprofit hoping to make money, is there some sort of royalty aspects this provides that keeps bringing in money to fund your work? >> i am glad you brought that up. yes. that is one of the things that make and ftes so revolutionary. imagine in the old days, an unknown artist sells a painting for hundred -- for $100, years later it sells for $1 million. that is great for them, but i don't get a penny. with n

of an nft is now $12,000.t's also way up and nft sold for at least $1 million every day in august, but this nft 2.0, which follows that first boom in march, it is being driven in large part by a whole new cast of cartoon characters crypto punks are the most expensive, they average $214,000 each with one trading for more than $7 million. visa bought one for $150,000 to better understand the space. catching up fast are the board ape yacht club seth curry bought one and it became his twitter avatar. and pudgy penguins, they're up more than 7,000% since they were created in june. one sold for half a million dollars, just two weeks ago. now that's been relisted for $2 million. if you missed that pet rock craze in the 1970s, well, ether rock sold to crypto mobile justin sun for $611,000, another one listed for $28 million they only made 100 ether rocks and the cheapest one on the market now is $2 million back to you. >> well if they only made 100, one of these days, back when we're all back in the office, i'll stop

there are over $3 billion of nfts traded in august. nfts are close to $5 billion asset class.o is at all-time highs at $2.4 trillion market cap this morning. this asset class is assets within the crypto ecosystem no longer have a beta of one to bitcoin. bitcoin used to drag along alt coins and ethereum now with nft gaining on top of crypto and seeing crypto equity exploding. there are a lot of different channels which the demand is coming again, we cannot dismiss the fact that investors are looking at crypto and macro markets. to me, what is happening in crypto is no more ridiculous than amc or robinhood. actually, some of the fundamentals are more sound given the fact these assets are limited in supply and starting to become utilized as utilities in the different ecosystems to feel nfts are trading pudgy pen penguins >> i don't know. just because you say you will make it. i don't know if that really makes me feel that much better vida keep trying. >> joe, i'm going to say she is absolutely right you need to have an optimistic coffee today i believe the nfts are great, but loo

joining me is the ceo of nft trading platform artifacts it's great to see you. around there's another headline what's going on here >> kelly, thanks for having me when i was last on in june we were pulling back from the sale and now we are here and have a $3 billion month on our hands. >> it's a huge number. we had $3 million months or weeks to start the year off. we have reports visa is buying some assets in the space, that people joke about why are people buying the dumbest clip art but paying hundreds of thousands of dollars for it what's the real value? where are these memes piling on and why do people view this as a place to store wealth? >> art drove the first surge this surge was driven by collectibles but what's the meat, the value there? it's digital identity. it is and will be quite valuable from avatars to immersive vr experiences. >> you talking about the idea as we enter these digital arenas there's an opportunity for a land grab now that can give you valuable assets in the world of the future what would you say to those who say i don't want to get

talk to me about the nft exchange for doesn't work and can it expand?: it has totally revolutionized the whole world of collectibles. they have created an incredible platform. it creates connectivity that has experiences and you build a relationship between a fanned and an athlete. it is incredible and is changing the game. no longer is it just putting things in your shoe box in the closet at home. now it is living and reading and it is a relationship that is intensified and been enhanced. so nft collectible space is changing the nature and the whole gamut of the fan-athlete dynamic and i am excited to be a part of it. amanda: is also changing the dynamic of the players themselves and ownership of things like their likenesses and collectibles? does it change the power dynamics with the athletes? rent: it does in a way. proactively -- there is no -- pro athletes, there is no revenue using an athlete's name, image, and likeness which is a big issue. when it is sold amongst fans on the secondary market, athletes don't get a chance to participate in that. w

two weeks ago, that same nft listed for $2 million.were unlucky enough to miss the pet rock craze in the '70s, one nft listed for $28 million. there were 100 created the cheapest you can buy right now is $2 million. >> i'm worried, robert i'm really, really, really worried. really worried you pay for an e ether and now that is going up it is the tail wags the dog for buying a pudgy penguin >> yes >> why is there any supply constraint on the penguin you can draw you can make him captain of the ship you can make him anything? tennis player? you can make a penguin do whatever you want and sell for $1 million >> you could, but the original pudgy penguins are a limited amount the same with the board apes same with the ether rocks. the problem with nfts and the limited edition. these are like prints in the art world. because you buy one of 100 warhols, but if he were alive, he could these nfts are limited they could make more there is a whole generation that lives online if now your status and flex and collectibles are online, these could be

we appreciate it josh, i know you go for the nft burrito.ut quick, you own shake shack what's your take on the quick srve market and the economy where the delta is at right now? >> shake shack has held its own through the pandemic the period is now over i think it accelerated in a lot of what the growth plans are and i think that's for the better it really forced them to get serious about people ordering on apps, coming to pick up food get serious about better delivery options and possibly even ghost kitchens in the future which i think every quick service restaurant has to wrap their head around. and it also helped them come up with ways to repurpose, exist in stores in urban areas, more windows, some drive-throughs which they hadn't done a lot of. i think like most cutting edge, fast growing, quick service restaurants like chipotle, like shack, there are going to be winners and losers it's hard to look at the whole category and say i'm bullish or bearish. i think shack is will be one of the winners. we already know chipotle is the gold sta

you have nfts. you love talking about nfts. there is over $100 million a day of nfts., there was a time when there were 1 million per day of nfts transacted. the other thing people see in terms of utility is it is no longer crypto doing the p-to-p in the central finance or creating crazy digital collectibles we are seeing traditional finance people very interested in yields. we are seeing artists. we are seeing companies that license stuff trying to figure out thousand use the nft in order to improve their business and participate. athletes all trying to create social tokens to get in touch with fans directly as opposed to right now. they have to go pay a place like facebook or google to contact their fans suddenly you have a business model with new use cases for finance and all sorts of people. >> the utilitarian and utility getting back to the question it is important to figure this out. people talk about the amount of energy that bitcoin transacts and used talk about the volatility of it as a currency to make it difficult to use it for tr transactions they point to

could we make 50 to 100 nft commemorative tickets that mean something to people and mean something tok the answer is yes. >> nfts, now accepting more than just bitcoin, but also ethereum, lightcoin, showing sports, video game tie-ups he's open minded about different areas that the business could take >> no, i respect that, and if you want to be bullish, that's the reason to be bullish, quite frankly. the open mindedness. let me say quickly once again, and we have discussed this, the short thesis, you know, the short squeeze thesis to me, it doesn't really make a lot of sense. this is a stock that's average trading about 105 million shares a day. if you're short the stock, you have ample opportunities not only on a dilly basis but almost on a minute by minute basis to cover your short, number one, and the whole hedge funds blowing up in amc, i'm not sure that's the case. the short squeeze thesis to me is not so i think it is a failing business i think, listen, you go back to 2016, when the stock was sort of at a zenith at the time, business couldn't be better, and they still couldn't f

we talk about ledgers and crypto and nft, there's a whole cohort of investors involved in that who don'tt that regulation. the lack of regulation is a big part of the appeal for investors. nir: that's really the design, it's a way to democratize markets. to put it outside the currency of regulators. that's really the trick, how do you protect investors when you can't really rein in the nuts and bolts of this burgeoning technology. it seems to me that the only realistic way you can do that is to go to investors directly and say these are the things you need to be aware of and these are the ways you need to govern yourself, in a world where there is basically borderless markets. caroline: some of the argument isn't from these new innovations , it's about allowing everyone to take part in financial investments, to not just have $100,000 in the bank to be able to play and make money. it's about financial inclusion in some shape or form. romaine: absolutely, so i guess we will see which side wins out. it's always great to get your thoughts, and i want to keep the conversation going. i turn to

on nft's.core donna -- and core donna affected in the most recent selloff. if you bought solana for $1.50 in january, you are up past $150 today. then online gambling, back in the states that are allowing for it. you have daytrading changing over to sports betting. what does that mean for gamestop? if you have been betting on gamestop, there's an expectation now of one point one $2 billion in revenue today. if you bet on previous earnings, you have been disappointed often, so there is hope when it comes to the firm's chairman, the turnaround strategy here, and the opportunity to benefit off of a consul cycle -- a console cycle. guy: it is interesting, you try and put the fundamentals in the meme stocks together. i a combination. doesn't always work. i look forward to watching the programming in a few hours. taylor: we are going to combine those just for you. guy: i will look forward to that was a great deal of interest. i guess the challenges for everybody in these stocks. the challenge really

lot of discussion around ethereum almost overtaking bitcoin because that's what powers a lot of the nftand we're seeing a lot of action around robinhood, coinbase, and i'm sure there'll be some excitement about reddit if and when they do i portion. cheryl: -- ipo to. cheryl: you mentioned ether. actress reese witherspoon has gotten behind that, and that's giving it a boost. do you have an idea of the academics behind the platform? there was a 9-year-old that made several thousand dollars on the gamestop trade s. that the kind of activity that you're seeing now, and is that the demographic? >> no. actually, i think that narrative is common place but slightly misplaced. you know, we have this remarkable data set that shows the average self-directed investor is actually very responsible. it's a lot larger portfolio, right? we've add had billions of dollars connected to commonstock and the average portfolio is upwards of $400,000, the median is somewhere between 30-40k. so it's really not just teenagers in their parents' basement. these are real thoughtful investors who are, one of the thin

legislation here, what is happening in europe, you're looking at a future in which digital goods like nfts, like some kinds of cryptocurrency transactions are either subject to a 30% rate, which would be bad, or not and i think that digital goods marketplace is booming we all cover it excellently every day. if you put a cap on that and say these kinds of goods are subject to a cut in this dominant mobile platform, you're going to chill innovation there if you just zoom out, and see what is bubbling now, with nfts and crypto and all this other stuff and say should there be a toll on that kind of marketplace developing, the answer is no that's the broad view i think people should look at. >> hmm well, it is interesting to me how apple never in the begin wanted an app store to begin w the developers said we want to be able to write directly to the phone, came up with the app store and everybody was happy until they weren't and apple became dominant. interesting when the underdog becomes the overlord thank you. >> thank you >>> speaking of major platforms, i'm here right now at amazon headquar

" ♪ i'd so like to get to you ♪ >> reporter: and like any celebrity these days, she's all-in on the nfttrait selling for nearly $700,000. but like us, the pandemic has grounded her travels. so she invited "nightline" to her home. >> nervous. sophie yas a big celebrity. >> reporter: the hanson robotics lab in hong kong, to meet her family and creator to see how this cutting-edge technology could soon transform the future of health care. >> welcome, brit. >> nice to meet you. >> i am so happy to finally meet you. >> i am so happy to meet you as well. the subtleties in her facial expressions are just remarkable. you can't help being a little taken aback by them. can i touch your face, sofia? >> please don't touch. >> okay, okay. that's clear. >> how would you feel if i made this face? what about this one? >> reporter: sofia is the brain child of american roboticist david hanson. >> i created sofia to humanize robotics, to make the robotics and artificial intellgence technologies we have today more accessible to people. we were surprised by the level of celebrity that she gained. >> is this

>> there's a lot of discussion, he spent a lot of money in investing in nft.oing it too. it is a new product coming to the market. buyer beware. stuart: it is a market. what it represents, the value, i don't get it. okay. another one for you. softbank investing in nft startup it has to do with soccer. >> a block chain soccer game, something people can play and what it works, the players by the licensed cars and trade them on this league. softbank, $680 million here. so they think there is something there. we better get on board. stuart: $680 million. >> when we look at that, valuation is $4.3 billion. stuart: okay. my head is shaking. california gas station charges $6.74 a gallon for regular gasoline. >> not a political person. >> the current president is spending money as we used to say when i was in the military like a drunken sailor. stuart: that is one gas station in california, $6.74. we are told gas prices across the nation could go up some more. jeff flock has the report from philadelphia after this. dad, we got this. we got this. we got this. we got th

my "talk of the table" is the selling of big bucks, nft. you remember this? back in 2013, 2-year-old chloe seemed less than enthusiastic when her mom surprised her and her sister with a trip to disneyland. there it is. her unimpressed face quickly became a classic meme. okay, another buzzword. on friday the nft of side eye cloudy sold for -- a cryptocurrency equivalent of more than $75,000. 3f music based in dubai bought it. she plans to buy a horse. ethereum, nft, memes, can make money. >> somebody bought that picture for $25,000 fake. >> it's not fake dollars. >> $75,000. >> okay. >> $25,000 ethereum. it's crazy the world we're living in. >> i don't understand it. >> we did understand chloe's face. >> i did get that. >> there's real money in this stuff. >> if they panned the camera to dad, he was probably crying, too. he doesn't want to go to disney world. he's happy now. >> you don't understand chloe's face. >>> actress vanessa lachey is in the studio. find out about her role on "ncis hawaii" on cbs. she said, you know what, nick lachey, we're going to mov

ethereum and other smart contract protocols sit behind the nft layer.hings like nfts and we have seen the beginning in the nft space there is also other interesting things happening in terms of smart contracts and making data available to people in a decentralized way as well as other innovations. you're right to look at the upper layers and understand how those aspects of the industry are growing too. >> and you think bitcoin dominance just continues to go lower to the point where, you know, that's just another coin >> i don't think it will be just another coin largely because bitcoin space in the crypto industry is one of store value. it is a strong inflationary hedge. particularly in the face of $4.5 trillion potentially coming back into the economy and the united states as a result of fed action, people are always going to look to bitcoin as an inflationary hedge in a store value. that said, as the industry grows, and as new projects are introduced, it is inevitable that bitcoin dominance will continue to shrink over time, because it will be just be

banksie nft auctions are in no way affiliated with the artist. >>> the inspinirg paralympian who lostto go on to win gold in tokyo. ♪ ♪ everyone's looking forward to the school year... but sometimes... the best part about being back... is the excitement of heading home. kohls. from the very first touch, pampers, the #1 pediatrician recommended brand, helps keep baby's skin drier and healthier. so every touch will protect like the first. pampers i'm 53, but in my mind i'm still 35. that's why i take oste bi-flex to keep me moving the way i was made to, it nourishes and strengthens my joints for the long term. osteo bi-flex, plus vitamin d for immune support. you don't get much time for yourself. so when you do, make it count with crest pro-health. osteo bi-flex, plus vitamin d it protects the 8 areas dentists check for a healthier mouth. the #1 toothpaste brand in america. crest. i took my favorite cereal and made it waaay better, tony. shaq you're using my crunchy, delicious kellogg's frosted flakes. i added cinnamon basketballs. cinnamoooooooonnnnnnn!!!! ha! they're gr-r-reat!!! whic

the first nft track in space and one company is investing more accurately.stand on cryptocurrencies as in transactions? >> we were happy to bring the kings of leon nrg up to orbit to help st. jude's children's hospital. i think the blockchain is interesting. we are a ways away from crypto being a main form of currency and i say that as the ceo of a payments company. i don't think we are there yet, it's just too volatile. we are not ignoring it so we are making investments so consumers can do business with our merchants the way they like. that will probably be an alternative payment method in the future. >> will you go back up into space? >> it's got to be more than a word but if there is a mission that can have a meaningful impact on the world, i would be there. >> jared isaacman, the commander of the inspiration for mission. back to you. alix: that was a great interview. i would be too scared. this is bloomberg. ♪ >> this week we lost robert chin , he was the first to makebtv what it was today by expanding our footprint globally was part of the team that la

>> last time, we were talking about sushi swap now nfts. >> really?ink we're talking about continued use cases developing around the ecosystem trying to avoid counterfeiting it is an early part in the crypto system for sure. >> thanks, michael see you. you are a worry wart you worry about the tulip. you see "anchorman" pudgy penguin. $12 million. >> we had this question. 5 years from now, 10 years from now? >> why 10 years from now >> i'm long nfts in the context of smart contracts and all sorts t rolngs. >> iisli into break. >> a tim cook picture. >> announcer: what's working is sponsored by comcast business. bounce forward at com comcastbusiness.com. we help make them healthier. we are the people of abm. for more than 100 years, we've been a leader in making spaces cleaner, from the things you touch to the air you breathe. today, more than 100,000 of us are innovating to ensure spaces are more efficient, healthier and safer. abm. making spaces healthier for you. before we talk about tax-smart investing, what's new? -well, audrey's expecting... -twin

four nft artworks inspired freddie mercury are being auctioned for an aids charity to mark what wouldtool, surrounded by a pond of swimming goldfish. they'll be sold in a timed auction on digital art marketplace super rare. you can reach me on twitter — i'm @ bbc baxter hello. well, most of us had some pretty decent weather on thursday, some warm spells of sunshine. friday's not looking bad for most of us, but not for everybody — we are expecting some rain across western parts of the uk. and on the satellite picture, you can see the reason — a weather front is approaching. in fact, it's already been cloudy and damp across northern ireland and parts of western scotland. and this weather front, as it approaches the british isles, it is slowing down and, in fact, it's going to stall across western parts of the uk over the next 2—3 days. so here it is through the early hours of the morning, approaching western parts of the uk. as i said, it's already damp in the north—west but very mild — these warm southerlies ahead of it mean that temperatures in some spots in the north—west won't be an

he believes in blockchain, so offering some nft product fits into that. this is the bare minimum, authenticating someone owns something is one thing. but imagine moving forward, it might be the kind of place someone could buy or sell an fts. they are not doing that yet but that is where it might be headed. emily: kurt wagner, thanks for that extra detail. twitter's push into cryptic o -- crypto is powered by strike, a payment network. ceo jack wallace joins us to talk about the partnership. how much new business do you think this will bring to bitcoin and strike itself? >> the simple answer is a lot. but i think the integration of the bitcoin and lightning monetary network has more implications for twitter just for strike than independence. you are talking about a monetary network that spans the globe and can achieve instance, nearly free global cash finality, and comparing that with a widely distributed internet company like twitter, this is a huge deal. we are going to see a knock on effect. twitter will not be the last. this is the beginning of a broad

ethereum has been the big winner for developers and the go to especially with the rise of nfts and the decentralized finance apps most of the projects have been built on top of ethereum as ethereum has gotten more popular it's more popular to use and is slow compared to solana it's either ethereum, the more proven, expensive and slower network or the new kid on the block or the block chain solana. it's more from child but is a cheaper and faster network >> a lot to keep up with, kate what does it tell us more broadly speaking it was interesting to hear ray daal yes talk about bitcoin. people are always looking for the next thing where they're going to make a done dalio's support suggests bitcoin is becoming more and more entrenched >> reporter: some of the mainstream wall street-type analysts are saying that bitcoin being boring is a bad sign jpmorgan pointed to the solana rally and other cryptocurrency they pointed to a share of the market dropping in august something like 78% and is now 67% lower. other fans and crypto enthusiasts say this may remind people of ethereum but a retail f

it enables a lot of other crypto tokens and nft's whereas bitcoin, the design goal was to be a stablerm of money, much like digital gold. i think ethereum is a very different beast comparing the u.s. dollar, the petrodollar, they say it is tied together and so on but the reality is the different kinds of commodities in the world and going forward, i think we will see bitcoin succeed. that is not to the advantage of ethereum succeeding. i think they can succeed on their own. there will be many other crypto currencies coming up as well. >> never mind for next time. if you are a bloomberg subscriber, you can catch up on all of our interviews by using our interactive function which is called tv . >> join the conversation, send us instant messages. of course not during the show but you can. this is bloomberg. >> we will have a couple of business flash headlines. here is the end of the complicated swap. we have the u.s. mobile phone operator. they will use this as collateral for financing and hedging purposes. this is on the supply and a moment of batteries by 2030. there is greater dem

. >> we need an nft something.itcoin got as low as 44, it was down 6% at one point i wanted to check the ten year right away to see if we were at 1.2. i thought there -- >> not much movement there, interesting. >> no. i think if we were really worried this was going to turn into something even worse, you'd see the ten-year rallying. it's been a slow decline we'd say it's not declining, up 200 in the morning and then down 200 by the end of the day. we're down 3% or so from the highs? >> we should put that in perspective, only 3% from the highs. >> if you add the one -- down today less than 2. >> 1.6% for the dow. >> we're going to eunice >> let's talk about what happened in hong kong overnight because that has a large part to play, at least some of the feeling here stocks in hong kong plunging more than 3% overnight and and eunice joins us with a story that has a lot of people on pins and needles. good morning. >> reporter: good morning. a lot of investors across asia and, of course, hong kong are worried that china

it is over and nft. cracking the code. speak to the cofounder of online learning giant baidu on its acquisition of tinker to expand into the u.s. and when the company might make its public debut. this is bloomberg. ♪ emily: india's most valuable start up has 100 million students on board, more than double last year. it is expanding to the united states hoping to reach 60 million more students in 100,000 schools. online education is paying $200 million to hire a new coating -- coding platform called tinker for kids kindergarten and up. joining us now is the ceo. like your joining us from india on an early morning there. talk to us about the growth you have seen over the last year and how the pandemic has driven that and how you've met students where they are. co-ceo: fintech has been on important -- unfortunate. this is reported in terms of numbers. in the first four years, we had -- million students. in the last 60 months, we had 55 million more students. it has been put in the spotlight and i think online learning itself,

the first digital nft track in space.ey are going to partner more actively in cryptocurrencies. where do you stand on cryptocurrencies? jared: we were happy to bring that to orbit to raise funds for st. jude's children's research hospital. i think the blockchain is really interesting and i am a supporter. we are away from crypto became an mainstream. i say that as the ceo of the payments company that powers $200 billion a year. we are not there. it is too volatile. we are not ignoring it. we are may sing -- making investments to make sure consumers are able to do business with merchants the way they like and that is probably going to be an alternative payment method like crypto in the future. emily: will you go back up into space? jared: it has to be more than a word but i would say if there is a mission that can have a real meaningful impact on the world, i would be there. emily: jared isaacman on her very own ed ludlow. that does it for this edition of bloomberg technology. stay tuned for wall street week next with davi

i don't understand the nft boom.d the basics of a non-fungible token i don't understand why someone is paying tens of billions of dollars for a fat penguin or bored ape. >> it is an exciting development, brian i would not say you are missing anything we are starting to see the potential of the industry. it does require a change in mind set. let's cast back. art collecting has been around for centuries. it has been part of the culture for decades. i don't know if you collected baseball cards when you were younger. my kids collect pokemon cards. we live in the digital world the younger generation did this started before the pandemic the pandemic consolidated it our digital lives will not go away with our reopening. we are now able to carry on our collecting active which is part of the way we express ourselves into the digital world here is the interesting thing. what we are doing by porting our collectibles to the digital world is transforming from the risk of fire or flood or stolen from you or decay. we are protectin

, i'm seeing a lot of different cute animals. >> yes. >> that you can buy nfts on.e is too many, a supply problem? >> yeah. >> i'm not sure. >> isn't that the problem? >> if i would go for one, i would think of what animal the bored apes i think it is funny. >> self reflective >> yeah. >>> in global news shares of china evergrande group tumbling again with the property giant on the brink of collapse company dealing with $300 billion of debt. evergrande is so big, experts feel the failure to ripple throughout the china economy and possibly markets outside that country. earlier today, the editor in chief of the state backed newspaper warned evergrande shouldn't bet on the government bailout. saying it is not too big to fail >>> meantime, along the big events today committee of outside advisers meeting with the fda to discuss the pfizer application for the booster dose for the covid-19 vaccine is expected this afternoon. meg tirrell said there is a fierce debate over whether boosters are needed. we will have more with dr. scott gottlieb in the next hour. >>> general mo

. >> i was reading some stuff, the hot money for the meme stocks has gone into nfts, some of the bricks other things people are doing that are more difficult to understand. let's go to something you do understand, bottom up stock picking. we know you love dividend pairs. dividends don't get as much love as they should nor does bank of new york, bk. why not? >> bank of new york is a good company. good long-term prospect. interest rates are going to move up and bank of new york is a direct beneficiary we think this stock easily should be 20 to 30% higher very low risk in the meantime. >> gis as well, general mills. big company. everybody knows their product. i watch cnbc all day long and it's not a name i ever see come up what are you seeing out of the minneapolis company that you like >> consumer staples is like watching paint dry they've really had a fairly miserable 12-month period. they normally sell at a premium to the market or at least at a market multiple. the whole group is now selling at a decent discount to the market general mills has reasonably good long term prospects 3.5% y

people say we're buying our nfts because we're going to display it in the metaverse.s just an aspect of sim city. there's going to be competing metaverses that's why it's interesting. does one just have to win? how will they all talk to each other? there are people say the way that epic wins the battle with apple in the long run, fine, you can win the battle with the app store, but we're going to build a better mess averse and win the war. >> all of a sudden they want to launch a concert i took my kid to the concert on kigo on friday think about the digital merchandise, everything you could sell, subscriptions. there's all kinds of different things you can get out of this so ultimately i think it's going to be a group of vendors that benefits mark zuckerberg called this out on the last earnings call. it would be like nvidia in the semi world, facebook, hardware providers that you'll have to put glasses or headsets on to start this off companies like unity, that so we're really early, and, again, there's going to be a payment component to it, the civility to change and

. >>> and one in the nft platform accused of insider trading opensea product featured on the home pageelling after highlighted and the price already went up. opensea acknowledged the incident in a blog post. conducting an immediate review on the matter. >>> staying with crypto. protesters in el salvador burning a kiosk. the video circulating on the int internet the adoptions face criticism within the country over the rapid manner in which it was approved brian, what do you think about that well, i don't know people in el salvador not buying bitcoin right now. back to you, brian >>> all right. let's get more on the growing story on the global energy markets. recent price on natural gas, particularly in europe if you are not paying attention to this, you should be wholesale, natural gas prices gone to par abolically record highs. first, the recent storms impacting u.s. production and increasing competition for gas also, lower supplies of gas to europe from russia was also a recent fire at the uk power plant and the shortage of power is not made up by renewables because literally the wind

mean, along the fridges of the market, there's a persistent speculative flow in things like crypto, nfts, stock options from retail traders. there's a stock of the day so the question is can they remain separate? does it mean the core of the market is insulated from whatever excesses might be built up there hasn't been a overshoot in terms of sentiment or aggressiveness or in terms of evaluation in the core of the market and i think the question is, you know, might it change? might we get some kind of bleeding over or some of this activity as risk appetites perhaps continue to flourish right here. >> thank you very much >>> let's ask the question and get answers on how does one invest in the push/pull market the next guest said look to the bond markets we'll bring in jim paulsen, michael farr welcome. jim, let me begin. why are bonds the key predictor, if your view what have they told us in the past what are they saying now >> some ways, tyler, they've one of the best predictors bond marketed started to fall in 2020 of february they continued to do it over and over again bond yields peak

. >>> the nfl the first to get into the nft business, the company has signed a deal with the nfl and the players association to create digital video highlights. >>> the times may change but the craze over pokemon apparently does not according to reports a rare new cookie is selling for hundreds even thousands of dollars on ebay thousands of dollarsor f a cookie "worldwide exchange," back in a moment i'm not here to judge. >>> welcome back to "worldwide exchange." time for your big money movers, three stock stories of the morning stock one warby parker, prices pulling back after they soared from the reference price of $40, the stock opened at $54 roughly. stock two, amazon, the company settled a case with two former employees who alleged they were wrongly filed. the report claims the women were terminated for speaking out about amazon's record on climate and working conditions amazon is required to pay back wages and post notices it cannot fire people for organizing and exercising their rights. stock three, virgin galactic, the faa cleared it to continue launches virgin galactic said

. >> and then they will make an nft out of the shredded pieces.ught it know that it was going to be shredded -- >> did the person who bought it know that it was going to be shredded? >> i guess spence of art is in the eye of the beholder of a lot of cash. >> that would not be any of us here. it's a competition designed to get you to marvel at nature and laugh at it. check out some of the finalists in the 2021, the wildlife photo awards. 22 images made the final cut. a pair of photographers came up with the idea to promote wildlife conservation through humor. last year's winner pulled off a shot of a turtle at the great barrier reef seemingly giving the camera the bird. you can help pick a winner at comedy wildlife photo.com. >> >> did i see that right? >> and the turtle looked angry. >> some of those shots are great. the ones where you feel lik lik there is some interaction between nature and the viewer, there are some great shots. >> nature is so marvelous and i love every nature program i can get my hands on. it makes you laugh at it but delight

guys, in stakes higher than ever given the participation in not just bitcoin but nfts we appreciate your time on the ramification of china's moves. coming up the iphone 13 and the variations shut the shelves today. shares of apple on pace for their third straight week ofs losses why are investors selling into the launch plus two banks are becoming one in the latest financial tie up the ceo of valley bank about the merger and how they're looking to expand their tech and vp banking business the stock has had a stellar run. we're back in a moment ♪ ♪ this is "the exchange" on cnbc ♪ ♪ ♪ ♪ ♪ ♪ in business, setbacks change everything. so get comcast business internet and add securityedge. it helps keep your network safe by scanning for threats every 10 minutes. and unlike some cybersecurity options, this helps protect every connected device. yours, your employees' and even your customers'. so you can stay ahead. get started with a great offer and ask how you can add comcast business securityedge. plus for a limited time, ask how to get a $500 prepaid card when you upgrade. opreza: trabajar en

about on "fast money" over the past three or four weeks especially as we've gotten into the boom in nfts and what's been going on in the art world and you're seeing people think about things and do conversions back to ethereum and what things actually cost. we're still so early on this you know, i think i said on today's call earlier is that i think people are licking their chops on this pullback, especially when brian reenforced this is not fundamentally based, really i think there's a lot of people that are starting to get some sense of where commercial use is beginning and even if it's in what i still think are going to be a lot of boom bust dynamics in call it the art world for now, there's been a lot of value that's been created and we'll see. but i think again, this is a very large headline in terms of el salvador and the sentiment. there are a lot of countries around the world where there's zero confidence in their currency and those will be countries that will adopt faster >> really bad news for coinbase on a day when trading volume is really heavy, guy, for an exchange to have d

football and now we're taking it to another level with legalized gambling and the nfl embracing that the nftsry day nfl vernacular, the owners who are embracing it, the owners are making deals left and right, so are the players, it is just another revenue stream for the monster, the revenue monster that the nfl is, and they do a great job of tapping into it. it is great for the league and great for the economy. >> yeah, and some would argue great for crypto we'll hear a lot about it even during the games tonight drew, we can't wait, we look forward to talking to you all season long. thanks >> look forward to that as well. take care. >>> we're getting some news now on proxy battle between starboard and box. leslie picker has that news for us >> hey, david. yes, according to one person familiar with the vote count, i'm told that box was successful in electing its three nominees to the ten-person board for the company. as you mentioned it had been in a proxy battle with dissident starboard, for those three board seats, something that has gone on for several months now and was a victory for the c

nfts. >> well, the fortunate thing is you don't have to transport them they're digital.of the capsule or anything like that morgan, thank you. >> reporter: sure. they'll have other things too. >> morgan brennan. steve grasso, you're in this space of space through space, right? >> i am. and even if this just brings to light saint jude charity, it's one of my favorite charities so let's get that out there i think it's well worth it when you start to look at how you can invest in space, i'm still in virgin galactic i entered into this trade probably a couple years back now, and i entered around 15 1/2 dollars. i sold some when it popped recently in the last couple of months it can't get out of its own way. it continues to get more press coverage, but when you look for events, i treat these stocks, melissa, like biotech stocks there's always an event. it's always binary spce virgin has an event coming up at the end of the month in october. m ilin. >>> up next, final trades. commercial real estate exchange. you see it. you want it. you ten-x it. it's that fast. if i could, i'

you can also point to people stretching for yield in the riskiest parts of the junk bond market or nfts been the talk for a month. people spending six and seven figures for digital images we know about how much activity and how much mind share this is all taking up. the way i think you can square these things is to say it is probably okay to believe that there are these sort of fringe areas of the market that have become hyperactive from time to time and the rest of the market remains relatively insulated from those forces. you saw the ipo, the arc, the solar stock, the cannabis stocks, all these massive peaks in the early part of the year. they have underperformed and the overall market is managed to kind of absorb that. and move on and move higher. >> one might say it is a function of liquidity. i love that first chart, it reminds me of the discussion we had last hour with the head of oak mark select, in that a trade that involves both megacap tech and financials need not be exclusive. >> both moving higher over the last six months. just they had switched off in terms of outperformanc

they announced they're putting $250 million looking into the nfts, how they can use their ledgers forouse deeds, car titles, et cetera. so it is illegal but i think that with, really basically neutral carbon it is one of the best coins out there. we're hoping at some point the sec comes in, at that point, may not be too late to buy it. charles: hopefully. hopefully american investors will get the bite at apple without going through convoluted routes. michelle, good stuff. i hope people were taking notes. >>> amazon, folks they have the personal robot. it is ready. will only cost you a grand. tell you it is not exactly looking like what they thought you would. our vision what the first house robot was a little different. we'll still talk about buying the stock. also kids are finally back in school with their friends. only problem they can't talk to each other at lunch. we'll have the details after the break. 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

rates moving up that's a bonus but think to yourself whether it's all these nontraditional asset, nfts, crypto currency there's so much collect out there. it's all about the management, pricing, trading of assets that's why goldman and morgan stanley are doing so well. balance sheets of these institutions, financials have totally recreated themselves they are buying back their stock. they are experiencing loan growth both commercial and residential if we're going to see this re-opening trade. there's so many different trade winds that could benefit financials it's the cleanest and most c beneficial way to play >> we have a good debate to be had on energy in and of itself as goldman sachs raises its brent target to $90 a barrel go ahead joe >> remember oil can go to 90 and energy equities don't perform concurrent with that we went through that same experience several months ago and that led to a significant unwind of energy equities. so be very careful extrapolating because the price of oil is $90 you're going to get that same performance in energy equities history will tell you that's

i think the reason ether has come up so much is because of the nfting craze, right -- nft craze, rightin research, and it shows this massive selloff in spac deals has wiped about $75 billion off the companies that recently went public through spac, special purpose acquisition companies. does that spell the end of the spac craze to you, nancy? >> thanks, lauren it may, actually. stocks have one advantage over a traditional ipo in that the underlying businesses can make business projections which they're not allowed to do in an ipo setting. a number of those prove to be troublesome, even fraudulent. and i think that began to start -- or that started the unwinding. you add to that manager like -- something like space which is the recent, the old virgin galactic, and you have founders issuing $500 million, so they issued 13.7 million shares to raise $500 million and promptly sold out of their shares entirely, and then sir richard branson sold about $500 million worth of his shares. so i think, you know, there's a bad taste at least in my mouth about how some of these vehicles are utilized,

if you think of an nft or a token, essentially a digital collectible right now, what in the olden daysave been the equivalent of a baseball card, why should that be regulated as a financial product and service? we don't think it should be. >> another risk, kelly, competition if china there is nuance. while beijing has outlawed most crypto activity it has also built its own central bank cryptocurrency, she tells me the u.s. should do the opposite and allow innovation and work with the private sector here. she says the u.s. needs to move a little bit faster to keep up with the pace of innovation, at least on stable coin >> i thought it was interesting how she drew the contrast with china and saying we should do the opposite it was a great interview thank you for the highlights. >>> that does it for "the exchange." stick around, "power lunch" begins right now >>> as we wrap up september, welcome to "power lunch," everybody. here's what's ahead on this last show of a bumpy month. the dow takes a dive is it time now to go bargain hunting? a veteran trader has identified two stocks that he s