How South Florida’s artists and entrepreneurs are cracking the crypto code
You know, with all the economic ups and downs lately, a lot of folks are looking for new ways to make ends meet, or even get ahead. And down in Miami, more and more people are finding their answer in cryptocurrency. For some, it’s not just about investing; it’s genuinely changing their lives.
How one Miami artist struck gold with NFTs
Take Marlon Pruz, for example. He’s an illustrator and muralist in Miami, and he told CBS News Miami that he’s really hit the jackpot in the crypto world by selling these things called NFTs, or “non-fungible tokens.” Basically, an NFT is like a digital certificate that proves you own a unique digital item. For Marlon, it’s been the perfect way to sell his digital art.
He mentioned how another artist, Beeple, sold an NFT for a jaw-dropping $69 million. That really opened everyone’s eyes to what was possible, including Marlon’s!
Why crypto is becoming such a big deal
Miami has really become a hotbed for people who are into digital assets. Crypto consultant Danny Brownwolf shared with CBS News Miami that she first got into crypto back in 2017 while she was working in international policy.
She was captivated when the United Nations started a pilot project using this tech to track humanitarian aid distribution. “I was like, what is this magical technology they are using to solve a real-world problem?” she recalled. “And I dug in and I just went down the rabbit hole ever since.”
Quick cash, no bosses: the appeal of crypto
Danny even showed how crazy fast you can send cryptocurrency using the platform X. In just a few seconds, she zipped $1 in crypto through the platform, and boom! A digital wallet automatically popped up with the funds.
“You can think of crypto as any asset that’s digital and lives on the internet, and the best part is, there’s no middleman,” Danny explained.
Unlike traditional money that’s controlled by central banks, cryptocurrencies are decentralized. They run on something called blockchain technology, which means a whole network of computers verifies transactions instead of just one single organization.
New rules and wider acceptance
Recently, Danny helped out startup advisor and investor Ethan Appleby with his first steps into the crypto world at The Lab Miami in Wynwood, which is a cool spot for tech pioneers.
“You’re officially on chain!” Danny cheered, as Ethan replied, “Thank you so much. Amazing!”
On a bigger scale, the GENIUS Act was just signed into law, which is a huge deal for regulating digital assets across the country.
“It basically lets the U.S. dollar be issued as a crypto,” Danny clarified. “So now you have something that acts just like cash. It’s backed one-to-one either by a real U.S. dollar or by U.S. bonds.”
Getting started: tips for crypto rookies
For anyone just starting out, Danny recommends using platforms that are really easy for beginners. She suggests checking out Robinhood, Coinbase, Gemini, and Kraken.
And what about protecting your money from hackers? “Once your money is in any kind of digital form, you absolutely need to guard your password, your access, and use best practices like two-factor authentication,” she emphasized.
It’s a learning curve, but worth it!
For Marlon Pruz, jumping into the crypto scene has been a game-changer. “I keep telling my friends, ‘You need to get into this. You need to take the deep dive,'” he said.
He admitted it took him nearly two years to really get the hang of it and start seeing serious profits. Danny also added a great piece of advice for everyday folks looking to invest: “Look for things that solve problems in the industry you already work in, or in a field you know a lot about.”
