industry
Best Sites Like Fiverr To Make Money As A Freelancer
Fiverr is an incredibly popular platform for freelancers, but there are a lot of good Fiverr alternatives you may want to consider as well.
The post Best Sites Like Fiverr To Make Money As A Freelancer appeared first on Bible Money Matters and was written by Marc. Copyright © Bible Money Matters – please visit biblemoneymatters.com for more great content.
Hereâs a Hurricane Preparedness Checklist for Your Car
Gas up, visit your mechanic and donât forget an emergency kit. This post will help you make hurricane preparedness plans for your car.
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
What Is Digital Fashion, And Why Is It Important?
From Big Tech boardrooms to podcasts and tweets, the metaverse hype is everywhere. However, as with many emerging technologies, excitement around the expected future impact often outshines its actual readiness for mainstream adoption.Â
But even among all the hoopla, it’s foolish to dismiss Web3 and the metaverse completely. Within the next decade, emerging technologies might change life as we know it. In the same way, the television and the internet democratized access to information and entertainment, the blockchain and the metaverse will change the way we shop, game, and craft our digital identities.Â
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Whether physical or digital, fashion is a core layer of our being. It serves as one of the purest forms of self-expression while acting as a direct extension of our emotions and beliefs. As humans, we care deeply about our appearance and as we spend more time in virtual environments, the same behavior is expected to continue. By 2030, Morgan Stanley estimates that the digital fashion market alone could be worth $50 billion.Â
While this prediction is ambitious, and far from a guarantee, industry leaders have recognized the potential and are already beginning to heavily invest in the trend:
- Nike (NKE) acquired RTFKT and announced the launch of CryptoKicks, alongside their own virtual world in Roblox (RBLX).
- Rebecca Minkoff partnered with The Dematerialised to release a collection of NFT dresses, hoodies, and accessories.
- Bob Iger invested an undisclosed sum into Genies, a company that produces metaverse-ready digital avatars for stars like Jennifer Lopez, Rihanna and Lil Nas X.Â
With that in mind, there’s a compelling case that the winners of this emerging sector could be sound investments for years to come. But before we even think about investing, it’s important to cover the basics of digital fashion.
What Is Digital Fashion?
Digital fashion is virtual 3D clothing designed with both humans and digital avatars in mind. Rather than using fabric and textiles, digital garments are created with special 3D computer programs like Blender and CLO3D.Â
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Relative to traditional garment manufacturing, digital fashion is inexpensive and wildly sustainable. More importantly, it comes with zero creative constraints or production limitations. This is where the true beauty of digital fashion shines. The only limits are our imaginations. We don’t need to be the same people online as we are in real life. We can be whoever we want to be.
According to Jackson Bridges, NFT Project Advisor and Showcase Guide at Alterrage, digital fashion allows for a new medium for individual expression. Â
“In the metaverse, we can decide our own identities compared to the physical world in which we cannot choose our own race, gender, or cultural background. Digital fashion builds upon this idea by enhancing self-expression outside of the constraints of the physical world and by leveraging technologies such as augmented and virtual reality. The ability for one to express themselves with limitless creative freedom unlocks doors for a true expression of one’s identity,” he shared in an interview with Kiplinger.Â
To date, digital fashion has been most prevalent in gaming, where gamers pay billions of dollars per year to outfit their digital avatars in the latest cosmetic skins. Epic Games, the company behind Fortnite, sold 3.3 million units of their NFL partnership skins, netting a cool $50 million in only a few weeks.
How Do You Wear Digital Clothes and Accessories in the Physical World?
Outside of gaming, digital dressing is the most practical way for shoppers to showcase their digital style. By altering photos and using advanced technologies like augmented reality and artificial intelligence, consumers can actually wear their digital garments.Â
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For digitally-native apparel retailers like DRESSX, digital dressing is built into their business model. Customers who purchase digital garments from DressX can upload a photo to the platform to have themselves digitally dressed in their new look. For social media influencers who often spend thousands of dollars on an outfit only to return it moments after a photo is taken, wearing digital fashion offers a much more efficient and cost-effective alternative.
Snapchat (SNAP), a leader in augmented reality technology, has offered a variety of AR filters since its inception. Snap has also partnered with companies such as Prada and Ulta (ULTA) to offer customers virtual try-on experiences, which have resulted in substantial sales lifts.Â
To encourage more retailers to adopt AR-powered ecommerce, Snapchat has made its proprietary technology free to use. Now retailers can seamlessly integrate Snap’s AR try-on technology and Camera Kit into their own mobile apps and websites.
Why Is Digital Fashion Important?Â
To fully recognize the importance of digital fashion, you must first understand the desire for digital identity and ownership. Among digitally native generations, there is strong demand for digital ownership and the ability to express our identity the same way we do in real life.Â
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Based on a report from BoF Insights, approximately 70% of US general consumers (Gen Z to Gen X) rate their digital identity as important. And they’re voting with their wallets, with 50% interested in purchasing a digital asset in the next 12 months (gaming skin, digital fashion, avatar, and/or NFT.)
While still incredibly early, digital fashion is positioned to be a significant revenue driver for apparel retailers. Over the last year, brands such as Gucci, Tommy Hilfiger, and Dolce & Gabbana have invested millions of dollars in opening virtual metaverse storefronts where they’ve sold a mix of digital fashion NFTs and NFTs redeemable for physical goods. The virtual stores also allow customers to shop through on-site ecommerce collections.Â
As explained by Nico Fara, a retail Web3 strategist and founder of Chief Metaverse Officer, virtual stores in the metaverse aren’t replacing traditional retail channels, but are instead serving as a much-needed complement.Â
“In the same way that retailers need a brick-and-mortar or ecommerce store (Web 1.0) and a social media page (Web 2.0), they should have a metaverse presence (Web 3.0). Virtual stores in the metaverse are more efficient, immersive, and accessible than any other retail experience.”
Like all new tech trends, there will be companies that invest in the hype for PR and quick cash. But there will be others that make digital fashion a core part of their future retail strategy. Whether the winners will be legacy fashion and tech companies, digitally native retailers, or a combination of both, only time will tell. But when industry players of this caliber all make a move, it’s generally one worth paying attention to.
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How to Invest Money in Your 40s – 5 Tips to Maximize Retirement Wealth
Stock Market Today: S&P Surges to Fourth Gain in a Row
The S&P 500 matched its longest winning streak of the year Thursday as data continued to suggest that the Federal Reserve just might have some breathing room soon.
The Department of Labor reported that 234,000 Americans applied for unemployment benefits during the week ending July 2 â 4,000 more claims than the previous week, and the highest such level in nearly six months.
- SEE MORE What Is Digital Fashion, And Why Is It Important?
“It’s never a good thing to see layoffs, but the pressure on wages may have now peaked,” says Jamie Cox, managing partner for financial planner Harris Financial Group. “A few more weeks of these types of numbers and maybe, just maybe, financial conditions are tight enough to allow the Fed to throttle back on the scale of rate increases.”
A much stronger indicator of whether the U.S. central bank will do just that comes tomorrow morning, in the form of the June jobs report.
“The key for tomorrow’s jobs report is that it furthers the idea that we’ve hit ‘peak hawkishness’ with the Fed and ‘peak inflation,'” says Tom Essaye, editor of the Sevens Report. “If the jobs report reflects those two realities, it’ll likely spur a continued relief rally. If it implies the opposite, look for another painful decline.”
Also helping to drive stocks was data suggesting global supply-chain disruption might be easing. Jeffrey Roach, chief economist for independent broker-dealer LPL Financial, notes that New York Fed data showed that global supply chains were under less pressure in June compared to May.
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“The small improvement in supply chains will eventually filter through to improved consumer pricing,” says Roach, who adds that supply-chain effects take about four months to affect headline consumer prices.
Energy stocks (+3.6%) were the top sector Thursday, led by the likes of APA (APA, +7.8%) and Devon Energy (DVN, +5.2%). Data from the Energy Information Administration showed a recent snap-back in gasoline demand, helping U.S. crude oil futures rebound 4.3% to $102.73 per barrel.
- SEE MORE The 15 Best Stocks to Buy for the Rest of 2022
Technology stocks (+2.1%) also produced robust gains, largely on the back of the semiconductor industry. Just a few days after Micron (MU, +2.6%) warned that it expected demand for consumer-product components to wane, Samsung triggered a relief rally after saying it expected second-quarter revenues to improve by 22%; Qualcomm (QCOM, +5.8%), Advanced Micro Devices (AMD, +5.2%) and Nvidia (NVDA, +4.8%) were among the beneficiaries.
The S&P 500 (+1.5% to 3,902) posted its fourth consecutive gain to equal its previous 2022-best streak during the end of January and beginning of February. The Nasdaq Composite (+2.3% to 11,621) also made it four in a row, while the Dow Jones Industrial Average (+1.1% to 31,384) strung together two days of black ink.
YCharts
Other news in the stock market today:
- The small-cap Russell 2000Â jumped 2.4% to 1,769.
- Gold futures snapped their seven-day losing streak, adding 0.2% to settle at $1,739.70 an ounce.
- Bitcoin rallied 7.3% to $21,780.17. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.)Â
- GameStop (GME) soared 15.1% after the video game retailer joined several other companies this year by announcing a stock split. The board-approved move will split GME stock in a 4-to-1 ratio â and will give stakeholders three additional shares for each one they own at the close on Monday, July 19. It will also lower GME stock’s price on a split-adjusted basis beginning on Friday, July 22. Based on today’s close at $135.12, shares would go for roughly $34 apiece.
- Virgin Galactic Holdings (SPCE) shot up 12.1% after the space exploration company announced a partnership with Aurora Flight Sciences, a subsidiary of Boeing (BA, +2.7%), to develop two additional aircraft carriers, with the first expected to be ready to launch in 2025. Reagrdless, CFRA Research analyst Keith Snyder today initiated coverage on SPCE stock with a Sell rating. “While it will take a number of years to work through the current customer list, our Sell recommendation reflects our view that its main competitor, Blue Origin, has already begun commercial operations and offers tickets at a much lower cost compared to the $450k charged by SPCE per seat,” Snyder says. “In addition, companies like SpaceX could easily enter the space tourism market with its vastly superior and flight proven launch technology.”
Don’t Fall for These Debunked Myths
You know how you’ve heard that you should pay off your debt before you start investing? Well ⦠that’s not necessarily true. Sometimes it pays to knock out your IOUs first, but depending on how high or low your interest rate on that debt is, investing might actually be a better use of your money.
- SEE MORE The 12 Best ETFs to Battle a Bear Market
That’s just one example of several investing myths that are often touted as conventional wisdom.
Most of the time (but not always), the people who peddle these misconceptions don’t have ill intent â sometimes, they pick it up from other people they respect, and sometimes, things that used to be true have simply changed over time. All the same, these myths could result in financial decisions that aren’t right for you.
Today, we’d like to put some of these myths to bed. Read on as a group of financial experts review seven of the most common investing myths and explain why they don’t hold up.
Kyle Woodley was long AMD and NVDA as of this writing.
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How to Choose a Trading Strategy That Fits Your Skills and Needs
For active traders, the difference between profits and losses boils down to your trading strategy and how closely you stick to it. But some strategies are better suited for some types of traders than others. Learn how to choose a trading strategy thatâs ideal for your unique traits as a trader.
The post How to Choose a Trading Strategy That Fits Your Skills and Needs appeared first on Money Crashers.
Is the Stock Market Closed for the Fourth of July in 2022?
Through the sheer luck of the calendar, investors will be able to enjoy yet another long Fourth of July weekend away from their brokerage accounts. That’s because the stock market is closed on the Fourth of July; Independence Day falls smack-dab on Monday, July 4 this year.
Bond traders get a slightly sweeter deal. Not only are the bond markets closed completely on Monday, but they also shut down early Friday, July 1, calling it quits at 2 p.m.
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Regular trading hours for both the stock market and the bond market resume on Tuesday, July 5.
The following is a schedule of all stock market and bond market holidays for 2022. Please note that regular trading hours for the New York Stock Exchange (NYSE) and Nasdaq Stock Market are 9:30 a.m. to 4 p.m. Eastern on weekdays. The stock markets close at 1 p.m. on early-closure days; bond markets close early at 2 p.m.
2022 Market Holidays
Date | Holiday | NYSE | Nasdaq | Bond Markets* |
---|---|---|---|---|
Monday, Jan. 17 | Martin Luther King Jr. Day | Closed | Closed | Closed |
Monday, Feb. 21 | Presidents’ Day/Washington’s Birthday | Closed | Closed | Closed |
Thursday, April 14 | Maundy Thursday | Open | Open | Early close (2 p.m.) |
Friday, April 15 | Good Friday | Closed | Closed | Closed |
Friday, May 27 | Friday Before Memorial Day | Open | Open | Early close (2 p.m.) |
Monday, May 30 | Memorial Day | Closed | Closed | Closed |
Monday, June 20 | Juneteenth National Independence Day (Observed) | Closed | Closed | Closed |
Friday, July 1 | Friday Before Independence Day | Open | Open | Early close (2 p.m.) |
Monday, July 4 | Independence Day | Closed | Closed | Closed |
Monday, Sept. 5 | Labor Day | Closed | Closed | Closed |
Monday, Oct. 10 | Columbus Day | Open | Open | Closed |
Friday, Nov. 11 | Veterans Day | Open | Open | Closed |
Thursday, Nov. 24 | Thanksgiving Day | Closed | Closed | Closed |
Friday, Nov. 25 | Day After Thanksgiving | Early close (1 p.m.) |
Early close (1 p.m.) |
Early close (2 p.m.) |
Friday, Dec. 23 | Christmas Eve (Observed) | Open | Open | Early close (2 p.m.) |
Monday, Dec. 26 | Christmas Day (Observed) | Closed | Closed | Closed |
Friday, Dec. 30 | New Year’s Eve (Observed) | Open | Open | Early close (2 p.m.) |
* This is the recommended bond market holiday schedule from the Securities Industry and Financial Markets Association (SIFMA). This schedule is subject to change.
- SEE MORE The 12 Best ETFs to Battle a Bear Market
Market Holiday Observances
When it comes to the stock and bond markets alike, if a holiday falls on a weekend, market closures are dictated by two rules:
- If the holiday falls on a Saturday, the market will close on the preceding Friday.
- If the holiday falls on a Sunday, the market will close on the subsequent Monday.
Stock and Bond Market Hours
The “core trading” stock market hours for the NYSE and Nasdaq are 9:30 a.m. to 4 p.m. on weekdays. However, both exchanges offer premarket trading hours between 4 and 9:30 a.m., as well as late trading hours between 4 and 8 p.m.
Bond markets typically trade between 8 a.m. and 5 p.m.
The stock markets close at 1 p.m. on early-closure days; bond markets close early at 2 p.m.
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10 Best Part-Time Jobs With Health Insurance Benefits
Protecting Your Home from Lawsuits with a Dynasty Trust
Entrepreneurs can provide essential groundbreaking advancements for industry and society. Unfortunately, while being an entrepreneur can offer lucrative financial rewards and great satisfaction, it has its share of risks, as well. Not all of those who follow this path are happy with some of the side effects that go along with being a successful businessperson. They can put the entrepreneur at risk for lawsuits, both legitimate and frivolous.
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Tech industry innovator Steve is just such an entrepreneur. Successful in his pursuits, Steve now has a large estate he wants to protect for his children. He is especially interested in safeguarding his $10 million-plus Silicon Valley home for his family. Â
The Right Irrevocable Dynasty Trust Brings Peace of Mind
Concerned about the potential for lawsuits in this litigious industry, Steve gets busy. On advice from counsel, he sets up an irrevocable dynasty trust for his wife, children and grandchildren using the Nevada more protective trust laws. Using his generous $12.06 million federal gift tax exemption, Steve transfers the title of his house to a single member LLC and then deposits the LLC interest into the trust. Then he rents the house from the LLC at fair value rent.
This LLC/trust strategy removes the value of the home from his gross estate for estate planning purposes. And more importantly, he becomes a tenant (not an owner), so the home will not be at risk in case of an unforeseen lawsuit.Â
After doing this, Steve feels secure that his business can continue breaking new ground while protecting his existing estate from future misadventures.
What Happens When Lawsuits Crop Up
As time goes on, Steveâs company ends up having to recall a defective product, and lawsuits ensue.
While his business takes some hits, the significant equity in Steveâs personal residence is safe because he established a legal entity separate from himself and his business that could not be liable for the businessâs legal claims. Litigants considered attacking the trust, but after determining that road would be expensive and uncertain, they decided against it. Steve was able to avoid the personal liability of the lawsuit with a very modest monetary settlement instead. So, his home was never at risk.
Are You a Candidate for the LLC/Trust Lease-Back?
If you reside in a state with a modest homestead exemption from judgment creditors and wish to protect the equity in your home from future lawsuit judgment creditors, you are likely a candidate for the LLC/Trust lease back strategy.
For example, California limits the protection of home equity to the greater of 50% of the medium value in your community up to a maximum of $600,000. There is no protection for equity in a second or vacation home.
To learn more, please view our video, Protecting the Equity in Your Residence.
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