The National Hockey League (NHL), in partnership with the NHL Players' Association and the NHL Alumni Association, has joined forces with Sweet, a non-fungible token (NFT) firm, to introduce NHL Breakaway. This digital collectibles platform allows fans from around the world to collect, gift, trade, and showcase highlights and significant moments from NHL history.
A New Era in Sports Digital Collectibles
NHL Breakaway represents a significant milestone in the realm of sports digital collectibles. Sweet, in collaboration with the NHL and its associates, has utilized the hockey league's extensive highlight archives to create an immersive experience for users.
Through this platform, fans can acquire packs that contain highlights, packaged in a unique way with various camera angles and authentic sounds of the game. Sweet's CEO, Tom Mizzone, emphasized the groundbreaking nature of this partnership, stating, "We're not just launching a platform; we're forging a new era where gamified and social digital collectibles become a bridge to unforgettable experiences in the sport you love."
Revitalizing the NFT Market
The introduction of NHL's NFTs comes at a time when NFT sales have experienced a significant decline over the past year. However, similar initiatives have been successfully undertaken by other sports leagues, including Major League Baseball (MLB) and the National Basketball Association (NBA). David Lehanski, NHL Executive Vice President, highlighted the appeal of NHL Breakaway's "compelling graphics" and authentic sounds, which aim to transport collectors inside NHL arenas.
NFTs associated with sports leagues have proven to be popular in the past, with successful collections like Dapper Labs' NFL All Day and NBA Top Shot. These platforms aim to enhance the fan experience by combining the technology of NFTs with immersive sports experiences. Sweet, the NFT company behind NHL Breakaway, has also partnered with other well-known brands such as Dave & Busters, the Clemson Tigers, and Burger King.
What are your thoughts on the NHL's venture into NFTs? Share your opinions and ideas in the comments section below.
Frequently Asked Questions
How is gold taxed by Roth IRA?
A tax assessment for an investment account will be based on the current market value, and not what you paid initially. If you invest $1,000 into a mutual fund, stock, or other investment account, then any gains are subjected tax.
But if you put the money into a traditional IRA or 401(k), there’s no tax when you withdraw the money. You pay taxes only on earnings from dividends and capital gains — which apply only to investments held longer than one year.
The rules that govern these accounts differ from one state to the next. For example, in Maryland, you must take withdrawals within 60 days after reaching age 59 1/2 . In Massachusetts, you can wait until April 1st. New York has a maximum age limit of 70 1/2. To avoid penalties, plan ahead so you can take distributions at the right time.
Can I keep physical gold in an IRA?
Gold is money. Not just paper currency. It is an asset that people have used over thousands of years as money, and a way to protect wealth from inflation and economic uncertainties. Today, investors use gold as part of a diversified portfolio because gold tends to do better during financial turmoil.
Many Americans today prefer to invest in precious metals, such as silver and gold, over stocks and bonds. It’s not guaranteed that you’ll make any money investing gold, but there are several reasons it might be worthwhile to add gold to retirement funds.
Gold has historically performed better during financial panics than other assets. Gold prices rose nearly 100 percent between August 2011 and early 2013, while the S&P 500 fell 21 percent over the same period. Gold was one asset that outperformed stocks in turbulent market conditions.
Another advantage of investing in gold is that it’s one of the few assets with virtually zero counterparty risk. You still have your shares even if your stock portfolio falls. You can still own your gold even if the company where you invested fails to pay its debt.
Gold provides liquidity. This means that, unlike most other investments, you can sell your gold anytime without worrying about finding another buyer. The liquidity of gold makes it a good investment. This allows you take advantage of the short-term fluctuations that occur in the gold markets.
Is gold a good IRA investment?
Gold is an excellent investment for any person who wants to save money. You can also diversify your portfolio by investing in gold. There’s more to gold that meets the eye.
It’s been used throughout history as a currency, and even today, it remains a popular form of payment. It’s sometimes called “the world’s oldest money”.
Gold, unlike other paper currencies created by governments is mined directly from the earth. It is very valuable, as it is rare and hard to create.
The supply and demand for gold determine the price of gold. If the economy is strong, people will spend more money which means less people can mine gold. The result is that gold’s value increases.
The flip side is that people tend to save money when the economy slows. This leads to more gold being produced which decreases its value.
This is why both individuals as well as businesses can benefit from investing in gold. If you invest in gold, you’ll benefit whenever the economy grows.
Also, your investments will earn you interest which can help increase your wealth. In addition, you won’t lose any money if gold falls in value.
What precious metal is best for investing?
This question depends on how risky you are willing to take, and what return you want. Although gold has been considered a safe investment, it is not always the most lucrative. For example, if you need a quick profit, gold may not be for you. If patience and time are your priorities, silver is the best investment.
If you’re not looking to make quick money, gold is probably your best choice. If you want to invest in long-term, steady returns, silver is a better choice.
What precious metals could you invest in to retire?
These precious metals are among the most attractive investments. They are both simple to purchase and sell, and they have been around for a long time. They are a great way to diversify your portfolio.
Gold: The oldest form of currency known to man is gold. It is stable and very secure. This makes it a good option to preserve wealth in uncertain times.
Silver: Silver has been a favorite among investors for years. It’s a good choice for those who want to avoid volatility. Silver is more volatile than gold. It tends to rise rather than fall.
Platinium is another precious metal that is becoming increasingly popular. It’s resistant to corrosion and durable, similar to gold and silver. It is, however, more expensive than its competitors.
Rhodium – Rhodium is used to make catalytic conversions. It is also used to make jewelry. It is relatively affordable when compared to other types.
Palladium: Palladium is similar to platinum, but it’s less rare. It’s also more accessible. Investors looking to add precious and rare metals to their portfolios love it for these reasons.
What are some of the benefits of a gold IRA
The best way to save money for retirement is to place it in an Individual Retirement Account. It’s tax-deferred until you withdraw it. You are in complete control of how much you take out each fiscal year. There are many types of IRAs. Some are better suited for college students. Others are made for investors seeking higher returns. For example, Roth IRAs allow individuals to contribute after age 59 1/2 and pay taxes on any earnings at retirement. However, once they begin withdrawing funds, these earnings are not taxed again. This account is a good option if you plan to retire early.
Because you can invest money in many asset classes, a gold IRA works similarly to other IRAs. Unlike a regular IRA you don’t need to worry about taxes while you wait for your gains to be available. People who want to invest their money rather than spend it make gold IRA accounts a great option.
An additional benefit to owning gold through an IRA, is the ease of automatic withdrawals. You won’t have the hassle of making deposits each month. You could also set up direct debits to never miss a payment.
Finally, gold is one the most secure investment options available. Because it’s not tied to any particular country, its value tends to remain steady. Even during economic turmoil, gold prices tend to stay relatively stable. This makes it a great investment option to protect your savings from inflation.
Can I purchase gold with my self directed IRA?
You can purchase gold with your self-directed IRA, but you must first open an account at a brokerage firm like TD Ameritrade. Transfer funds from an existing retirement account are also possible.
Individuals can contribute as much as $5,500 per year ($6,500 if married filing jointly) to a traditional IRA. Individuals are allowed to contribute $1,000 each ($2,000 if married or filing jointly) to a Roth IRA.
If you do decide to invest in gold, you’ll want to consider purchasing physical bullion rather than investing in futures contracts. Futures contracts are financial instruments that are based on gold’s price. These contracts allow you to speculate on future gold prices without actually owning it. But, physical bullion is real bars of gold or silver that you can hold in one’s hand.
Statistics
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item’s value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- If you take distributions before hitting 59.5, you’ll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
External Links
bbb.org
finance.yahoo.com
wsj.com
- Saddam Hussein’s Invasion Helped Uncage a Bear In 1990 – WSJ
- You want to keep gold in your IRA at home? It’s Not Exactly Lawful – WSJ
irs.gov
How To
Gold IRAs: A Growing Trend
Investors are increasingly turning to gold IRAs as a way to diversify and protect their portfolios from inflation.
Gold IRA owners can now invest in physical gold bullion or bars. This IRA can be used to grow your wealth tax-free and is an alternative option to stocks and bonds.
Investors can have confidence in their investments and avoid market volatility with a gold IRA. They can also use the gold IRA as a protection against potential problems like inflation.
Investors also have the benefit of physical gold, which has unique properties such durability, portability and divisibility.
In addition, the gold IRA offers several other advantages, including the ability to quickly transfer ownership of the gold to heirs and the fact that the IRS does not consider gold a currency or a commodity.
This means that investors who are looking for financial safety and security are becoming more interested in the gold IRA.
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By: Jamie Redman
Title: The NHL Collaborates with Sweet to Launch NHL Breakaway, a Digital Collectibles Platform
Sourced From: news.bitcoin.com/nhl-dives-into-nft-market-with-breakaway-platform-amidst-shifting-digital-collectible-trends/
Published Date: Wed, 15 Nov 2023 22:30:15 +0000
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