The Lightbulb Series by Valkyrie

On this episode of the Lightbulb Series, host James O’Brien is joined by Justin Sun, founder of TRON. Justin Sun learned about Bitcoin in 2012 while studying at the University of Pennsylvania. After graduation, Sun started working for Ripple Labs until 2015 when he founded his own company. TRON is dedicated to the stablecoin network while being one of the most popular smart contracts in the world. O’Brien asks Sun about his goal of decentralizing media. Decentralized social and game platforms have become very popular. “TRON is one of the most prominent game developers in the GameFi industry.” Sun describes the numerous games that they have developed. “Decentralized gaming, which we call GameFi, is a very powerful tool to unite users. For example, with decentralized games, most of the users come with their own equipment, and the metals and coins they earn in the game eventually become a digit in a centralized database. You cannot erase them, lose your account, be banned by developers, and you can also earn money. With GameFi, the user dominates their account.” O’Brien asks him how he decided to go proof of stake versus proof of work. Sun states that he has always believed in Bitcoin. When Satoshi first created it as proof of work, the goal was aimed to make it become what it is today. “We need proof of work to keep the network fully decentralized and with so much mining power, it is virtually impossible to sabotage the network which is what Bitcoin needed.” Although, Sun would recommend using proof of stake when creating a coin or protocol today. “Proof of stake gives power to the token holder and users of the blockchain. TRON is one of the first proof of stake networks in the world, and while it was being developed, most other tokens were proof of work.” Sun continues, “the decentralized governance structure of the blockchain is one of the most important aspects of the whole industry. Proof of stake was the best choice I have made while designing the TRON network.” The TRON network has many other offerings. TRON is the largest Tether network with almost forty billion dollars and ten billion dollars in transactions every day making it a very powerful stablecoin network. TRON also offers several decentralized lending protocols. As Sun mentioned earlier, they have multiple GameFi networks as well as NFT trading platforms. Sun is an art collector and is in the process of moving traditional artists’ work into NFTs and displaying them on the blockchain. This would eliminate any traveling one would have to do to see a well-known piece of art and allow more people to view and enjoy these masterpieces. Sun loves sharing his art and currently displays them online. O’Brien states that “TRON is bringing art to the masses in a more accessible format.” O’Brien and Sun wrap up the episode talking about BitTorrent and DLive. Sun believes that people have underestimated BitTorrent and that it is the first and most widely used decentralized network before Bitcoin. TRON recently released the DLive network which is a decentralized live-streaming platform. Sun says, “everyone can use DLive without being shut down by central parties.” Sun ends the episode by sharing his excitement for TRON this upcoming year. Listen to the full episode for more!

Sean Rooney discusses wallets and storage in the latest Lightbulb Series episode. “As crypto continues to grow into an industry of macroeconomic and social significance, mainstream adoption is attracting new users all the time. The types of users in the space range from individuals, to investment firms, to hedge funds, and even nation-states,” he states.     Rooney goes on to explain that, “An important issue that these entities must decide on is which wallets and what type of strategies for custody they want to apply to digital assets. Regardless of whether we are talking Bitcoin, Ethereum, or an NFT, the information to owning a digital asset is on a ledger.”     We have to ask the question, “How do we interact on the blockchain at a verifiable level and in a secure way?” The answer is with a wallet.   Rooney explains that Digital wallets are used to send and receive crypto assets, which is analogous to a physical wallet. However, instead of storing physical currency, the wallets store the cryptographic information used to access the assets that are stored in the wallet. As the industry has evolved so has wallet technology, however, there are a couple of basic types of wallets with key differences.    There are two common types of wallets: hot wallets and cold wallets. A hot wallet connects to devices that use the internet, like a computer or mobile phone. The main feature of hot wallets is that they are convenient and easily accessible. However, being connected to the internet could create vulnerabilities because these wallets create private keys and store them on these internet-connected devices.    “While a hot wallet can be very convenient, there's also the potential for a lack of security.  Just like most people wouldn't carry all of the money they own on their person, it might not be a great idea to store all or large amounts of crypto on a mobile phone,” Rooney explains.   On the other hand, there are also cold wallets. The simplest description of a cold wallet is one that is not connected to the internet. They could stand a lesser risk of being compromised. Many people prefer to look at a hot wallet as being for spending, perhaps on-the-go with a mobile phone. While a cold wallet should be more appropriately compared to a wallet for savings.    Rooney goes on to discuss custody of digital assets that are stored in the after-mentioned wallets and private keys. “Crypto can be used by anyone from single users all over the world, to large institutions. If you control the private keys, it is possible to control the asset. Those private keys are protected.”   What are the options for custody? When exchanges are used to store crypto, the exchange is in control of the private keys and must sign off on a transaction to go through once requested by the user.  If using an exchange as a custodian, it is imperative to utilize the security features available such as 2 Factor Authentication and address white listing if possible. Another option would be self custody (in other words, withdrawing digital assets from an exchange). This could be in several forms such as a hardware wallet, paper wallet, or your own cold storage system.    This option is a little bit more technical and makes private management all the more important. Using a hardware wallet, the method of having a secure backup plan to protect the keys in case of an emergency is absolutely crucial.    Rooney shares that there are alternatives to these wallets, some of which are available as a service. “Multi-party complication or a multi signature wallet is where multiple signers are required to sign off on a transaction or we're the private keys are potentially split up among multiple parties or devices. There are lots of products available and more to come such as trust and funds. Ultimately it is up to every investor to decide on the option they are most comfortable with.” Listen to the full episode for more!   Follow us: Twitter: https://twitter.com/ValkyrieFunds Instagram: https://instagram.com/valkyrie.investments LinkedIn: https://www.linkedin.com/company/valkyrieinvestments Facebook: https://www.facebook.com/ValkyrieInvestments   DISCLOSURE: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results. Past performance is not indicative of future results. Investments may be speculative, illiquid and there is a risk of total loss. There is no guarantee that any specific outcome will be achieved. This is not an offer to buy or sell securities. We do not offer legal, tax or financial advice. Information is purported to be as of the time period provided therein. Charts/graphs are for illustrative purposes only. Cautionary Statement Concerning Forward-Looking Statements: This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this document and other statements made from time to time by us or our representatives might not occur.

Nate Larrivee from Valkyrie discusses the breakout asset class of the year- NFTs. He discusses the non-fungible token’s different use case than an asset like Bitcoin. 2021 was the year NFTs became a multi billion dollar industry. At the surface, NFTs appear to be highly speculative with social media hype, crazy volatility, and many failed products, but it is an entirely new order of commerce. Larrivee goes on to explain the basics of NFTs, and some examples such as video game skins or shields, or a share of a stock, profile pictures on social media, land in the metaverse, the list goes on. He explains that each one of these assets is verifiably rare in supply, portable, and programmable on the blockchain, and goes on to break these points down into digestible ideas. Larrivee shares the opportunities of NFTs, and that the internet is missing ways to verify identity, ownership, and authenticity of assets, the exact thing that makes it possible for creators to get paid for their work. He goes on to explain how the idea of NFTs has shifted from the technical realm to more common, everyday life. A restaurant in New York sells their cocktail recipes as NFTs, NBA fans can buy NFTs of their favorite players.. The possibilities are endless. Listen to the full episode for more! Follow us: Twitter: https://twitter.com/ValkyrieFunds Instagram: https://instagram.com/valkyrie.investments LinkedIn: https://www.linkedin.com/company/valkyrieinvestments Facebook: https://www.facebook.com/ValkyrieInvestments   DISCLOSURE: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results. Past performance is not indicative of future results. Investments may be speculative, illiquid and there is a risk of total loss. There is no guarantee that any specific outcome will be achieved. This is not an offer to buy or sell securities. We do not offer legal, tax or financial advice. Information is purported to be as of the time period provided therein. Charts/graphs are for illustrative purposes only. Cautionary Statement Concerning Forward-Looking Statements: This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this document and other statements made from time to time by us or our representatives might not occur. Source for NFT Revenue Estimates: Digital Asset Council of Financial Professionals

Valkyrie CIO offers a mid week update covering the FED's announcements on raising employment rates, completion of their tapering program, and that they will only be holding treasuries going forward.  McClurg believes the first rate hike will take place in May, and he predicts a 5-8% drop in equity markets over the next few weeks.  Now is a good entry point to the crypto markets for long term value.  He closes out the lightbulb episode with his prediction that the end of the year will hold more All Time Highs for Bitcoin. 

Valkyrie CIO Steven McClurg offers an Inflationary Macro Update. 

Valkyrie VP Trading breaks down Smart Contracts in this episode of the Lightbulb Series.    Twitter: https://twitter.com/ValkyrieFunds Instagram: https://instagram.com/valkyrie.investments LinkedIn: https://www.linkedin.com/company/valkyrieinvestments Facebook: https://www.facebook.com/ValkyrieInvestments Follow Sean Rooney: https://twitter.com/usaRooney DISCLOSURE: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results.

Zilliqa's President and Co-Founder Amrit Kumar joins Valkyrie's COO James O'Brien for an extended episode breaking down the basics of the Zilliqa.  Check out the Valkyrie Zilliqa Trust Follow Zilliqa on Twitter Follow us on Twitter, Instagram, LinkedIn, Facebook DISCLOSURE: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results.

VP Trading and Research Sean Rooney breaks down the concept of Taproot.   Follow us: Twitter: https://twitter.com/ValkyrieFunds Instagram: https://www.linkedin.com/company/valkyrieinvestments/ Facebook: https://www.facebook.com/ValkyrieInvestments Follow Sean Rooney: https://twitter.com/usaRooney DISCLOSURE: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results.

Valkyrie's CIO Steven McClurg offers a market update for mid November mentioning inflation's increase to 6.2%, the infrastructure bill that got passed in hopes to beat inflation, the negative reaction of this bill in the markets, and more! Listen to the full episode.   Follow us: Twitter: https://twitter.com/ValkyrieFunds Instagram: https://www.linkedin.com/company/valkyrieinvestments/ Facebook: https://www.facebook.com/ValkyrieInvestments Follow Steven McClurg: https://twitter.com/stevenmcclurg DISCLOSURE: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results.

Valkyrie's Chief Investment Officer Steven McClurg offers an early November macro overview, including updates on the US Federal Reserve's tapering program and inflation.  The Lightbulb Series covers crypto topics in 5 minutes or less. Submit requests to lightbulb@valkyrieinvest.com. Follow us: Twitter: https://twitter.com/ValkyrieFunds Instagram: https://www.linkedin.com/company/valkyrieinvestments/ Facebook: https://www.facebook.com/ValkyrieInvestments Follow Steven McClurg: https://twitter.com/stevenmcclurg DISCLOSURE: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results.

Valkyrie's VP Trading and Research offers a break down of On-Chain Highlights from 2021.  The Lightbulb Series covers crypto topics in 5 minutes or less. Submit requests to lightbulb@valkyrieinvest.com. Follow us: Twitter: https://twitter.com/ValkyrieFunds Instagram: https://instagram.com/valkyrie.investments LinkedIn: https://www.linkedin.com/company/valkyrieinvest Facebook: https://www.facebook.com/ValkyrieInvestments DISCLOSURE: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results.

Valkyrie's Head of ETF Portfolio Management Bill Cannon offers a 101 on ETFs. The Lightbulb Series covers crypto topics in 5 minutes or less. Submit requests to lightbulb@valkyrieinvest.com. Follow us: Twitter: https://twitter.com/ValkyrieFunds Instagram: https://instagram.com/valkyrie.investments LinkedIn: https://www.linkedin.com/company/valkyrieinvest Facebook: https://www.facebook.com/ValkyrieInvestments DISCLOSURE: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results.

Valkyrie's VP Trading and Research offers a 101 on NFTs, one of the hottest topics in the crypto industry. NFTs (Non-fungible tokens) are a digital object a user can own that is stored as data on a blockchain. (Although Rooney reminds us that not all blockchains are created equal).  The term "Non-fungible" refers to the fact that it is unique and cannot be replaced by something else. On the blockchain, there is a permanent and verifiable record of digital ownership. Rooney explains that digital objects have a history we are familiar with that range from art, gifs, social media handles, and objects within games such as avatars, skins, etc.  Although these objects are attainable and in most cases can be bought and sold, he explains how ownership is a different story for these items that are stored on a centralized platform where rules can be changed and sites can be deleted. He compares these to NFTs stored on a decentralized blockchain. Artists and creators usually profit only from the initial sale of their work. For example, many musicians may never have the chance to own the masters to their songs, or receive a fair cut of profits from an album. Smart contracts that support NFTs are programmable, which means they can potentially allow the artist to profit from the secondary or tertiary sale of their work and so on.  Looking forward, Rooney calls us to have an open mind for the future of digital objects. It is important to ask questions such as "What role will KYC and regulators play in this space?", "Will Bitcoin ever host NFTs?", and so on.  We can't ignore NFTs as forever being avatars and cartoons, because if given a little bit of time and breathing room, there's potential to create a new economy for artists and creators using these programmable tokens.    Listen to the full episode to learn more.    DISCLOSURE: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results.

Valkyrie's Chief Investment Officer Steven McClurg offers a September macro overview, including updates on Inflation and China.   The Lightbulb Series covers crypto topics in 5 minutes or less. Submit requests to lightbulb@valkyrieinvest.com.   Follow us: Twitter: https://twitter.com/ValkyrieFunds Instagram: https://instagram.com/valkyrie.investments LinkedIn: https://www.linkedin.com/company/valkyrieinvestments/ Facebook: https://www.facebook.com/ValkyrieInvestments Follow Steven McClurg: https://twitter.com/stevenmcclurg DISCLOSURE: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results.

Valkyrie Chief Investment Officer Steven McClurg offers a macro update on September's Bitcoin drop as well as El Salvador's recent Bitcoin adoption. The Lightbulb Series covers crypto topics requested by our listeners in 5 minutes or less. Submit requests to lightbulb@valkyrieinvest.com. Follow us: Twitter  Instagram LinkedIn Facebook  Follow Steven McClurg: Twitter DISCLOSURE: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results.

Valkyrie VP and Trader Sean Rooney launches the first episode of the Lightbulb Series with a breakdown of the digital asset ecosystem.  The Lightbulb Series covers crypto topics requested by our listeners in 5 minutes or less. Submit requests to lightbulb@valkyrieinvest.com. Follow us: Twitter  Instagram LinkedIn Facebook  Follow Sean Rooney: Twitter DISCLOSURE: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results.