If you aren’t necessarily part of the tech industry, the name Stephen Spence may not ring familiar but this innovative, game-changing entrepreneur has led a transformative mobile marketing business that transformed the way local and regional companies communicate with customers…forever. He is the founder and Chief Executive Officer of SMS Communications limited, a Jamaican company that was started in 2007 and has successfully grown to service over two hundred and fifty clients across the Caribbean. With that reach, chances are you’ve utilized Mcommerce services offered by Stephen’s SMSC limited. How has he been able to sustain and build on his vision since 2007? Today we talk about Stephen’s accomplishments and so much more…right here on the Entrepreneurial You.
Trending Now: NFTs
Non-fungible tokens, widely known as NFTs, are the latest evolution of the cryptocurrency concept. They’ve been around since 2014 but recently gained notoriety. NFTs can be traded or exchanged, one for another as one of a kind digital representations of physical assets. They are essentially digital contracts, with certain rules such as the number of copies available for sale. Much of the current market for NFTs is centered around collectables, such as digital artwork, music, real estate and sports cards, even tweets. So what triggered the latest internet obsession? In early March, a group of NFTs in the form of artwork was sold for over USD 69 million, the sale set a precedent and a record for the most expensive pieces of digital art sold thus far. NFTs exist on a blockchain which is a distributed public ledger that records transactions. Blockchain technology help artists and content creators, for example, get the opportunity to monetize their wares without relying on a gallery or auction house. Instead, the artist can sell it directly to the consumer. In theory, anybody can tokenize their work to sell an NFT. It’s important to note, however, that NFTs are typically held on the Ethereum blockchain so owning and storing some of this cryptocurrency is usually the first step in attaining NFTs. With all the hype surrounding this new craze, the big questions yet to be answered are…are they worth the money, will they change the way we do invest forever or will they fade away? Only time will tell.
